Santa Barbara, California — October 8, 2019 — Nearly all successful cyber-attacks originate from the more than three billion fake emails sent each day attempting to coax recipients into clicking on a link which exposes private information, hacked credentials, or worse. That is why RT ProExec, a division of RT Specialty and a leading wholesale distributor of specialty insurance products and services, is delivering a new insurance product which expands the scope of cyber coverage the company is currently able to place for commercial businesses by leveraging ClarionDoor’s technology.
Today, individuals, small businesses, large corporations, and even cities are at risk, as evidenced by the recent ransomware attack in Texas, and yet, cyber is still an emerging and evolving market where insurers are actively trying to figure out how to provide coverage for diverse and rapidly developing risks.
“Navigating the sea of changing cyber risk is an important role for dedicated wholesale products,” said David Lazzaroni, senior vice president, professional and executive liability at RT ProExec. “The islands of protection and expert brand response are critical to protect a company’s balance sheet in the event of a cyber hurricane.”
ClarionDoor’s Digital Distribution Suite (CD Digital Distribution Suite) provides modern rate/quote/bind, issuance, and forms management functionality, which helps property and casualty (P&C) distributors rapidly improve speed to market, enhance the customer experience, and optimize distribution channels. With a deep bench of data experts, implementation times that easily beat industry norms, and real-time scalability, ClarionDoor clients achieve far more immediate improvements than competitors.
“It’s exciting when our clients deliver entirely new products into the market,” said Michael DeGusta, CEO at ClarionDoor. “Although cyber security has been around for about 20 years, the impact today is broader than ever before – it affects us all. Being chosen by RT Specialty reinforces that our products and technology are meeting the ever-growing needs of the insurance industry.”
About RT ProExec/R-T Specialty, LLC (RT)
RT ProExec is a division of R-T Specialty, LLC (RT), subsidiary of Ryan Specialty Group, LLC. RT is a leading wholesale distributor of specialty insurance products and services. Our specialist brokers handle a comprehensive mix of property, casualty, professional lines, transportation and workers’ compensation insurance products. We define ourselves through our superior execution on behalf of our clients, which has established us as a leader in the industry. As an independent wholesale broker, we are a critical intermediary between insurance carriers and retail brokers that deal directly with insured parties. RT’s mission is simple – we believe clients are best served by a team of professionals who work collaboratively and collectively with agents, brokers and carriers to provide innovative solutions to their clients’ most complex insurance needs. RT is a Delaware limited liability company based in Illinois. Some products may not be available in all states or may be available only from surplus insurers. In California: R-T Specialty Insurance Services, LLC License #0G97516. ©2019 Ryan Specialty Group, LLC. For more information about RT Specialty, please visit rtspecialty.com.
ClarionDoor is the leading provider of cloud-based distribution solutions for insurance, delivering enterprise-grade rating, quoting, and policy issuance for all lines and geographies. Built on standards-based web services and best-in-class user interfaces, ClarionDoor’s proven software-as-a-service products have delivered millions of accurate real-time quotes for dozens for insurance organizations.