Underwriter Spotlight: Meet Julie Marvel, VP, Underwriter

In this edition of our Underwriter Spotlight Series, we’re thrilled to introduce Julie Marvel, VP, Underwriter at At-Bay. 

Julie joined our Midwest Underwriting team in May 2024. She brings more than 25 years of experience underwriting large and complex risks across various insurance products, including Cyber, Tech E&O, and Miscellaneous Professional Liability (MPL). Julie has a deep understanding of the unique challenges faced by middle market and enterprise accounts and how to tailor solutions to best fit their needs. In this interview, Julie discusses the unique coverage needs of middle market businesses, shares insights on cybersecurity controls, and provides examples of how At-Bay wins and supports middle market accounts.

1. How do Cyber and Tech E&O coverage needs differ for middle market and enterprise businesses compared to small businesses?

The larger the risk, the more far-reaching the implications will be. Cyber incidents for small businesses tend to have more of a local impact, whereas middle market accounts have a broader regional, national, or even international scale of impact. So when it comes to selecting insurance coverages, it’s crucial that middle market and enterprise businesses consider not only the insurance provider, but also the provider’s relationships and partnerships in the broader spectrum. Look at who they partner with for incident response, what law firms they work with, and their reputation in the market to ensure you’re choosing a trustworthy carrier.  

As for specific coverages, ransomware, extortion, privacy concerns, and financial fraud are essential for large and small businesses alike. We’re seeing growing concern over privacy and information security regarding cookies and tracking how businesses use and sell info to third parties, so coverage addressing this is extremely important.

2. Given these differences, how does At-Bay’s underwriting approach address the unique challenge that comes with finding the right solutions for middle market clients? 

At-Bay’s underwriting approach directly addresses the unique challenges of the middle market by providing tailored solutions instead of a one-size-fits-all policy. We recognize that middle market clients, whether in retail, manufacturing, or other sectors, have specific risks that require a deep understanding of their business and often customized coverage. Our Underwriting team carefully assesses each client’s vulnerabilities and risk profile, and we craft policies that reflect the unique exposures of their business.

Our underwriters work closely with their brokers to create innovative solutions, even in a shifting market. While other carriers might pull back on higher-hazard risks, At-Bay strives to find coverage opportunities, leveraging our technology and market insights to adapt quickly and provide the best option for clients.

We go beyond just underwriting policies; with our InsurSec approach, clients get continuous security monitoring, advisory services, and access to our in-house DFIR team all as part of their Cyber and Tech E&O policy, as well as 24/7 claims support and an option for Managed Detection & Response (MDR) — At-Bay’s enterprise-level security service — to ensure they’re protected long after the policy is bound.

At the heart of our approach is a commitment to aligning our goals with both brokers and insureds. We focus on building long-term partnerships that give both brokers and insureds peace of mind, knowing they have a trusted partner in At-Bay, dedicated to their success and providing ongoing support every step of the way.

3. What minimum cybersecurity controls do you expect middle market clients to have in place in order to get favorable quote options?

As clients grow, their cyber risk landscape becomes more complex, and there are more ways for threat actors to access their network. Just as a large warehouse needs stronger protections than a small storefront, larger businesses require more advanced security controls. 

At a minimum, we look for key controls such as multi-factor authentication (MFA) for email and remote access, secure email gateways (SEG), and endpoint protection. For larger accounts, additional measures like offline backups, business continuity plans, and better safeguarding of privileged accounts become essential. For industries like manufacturing, we might take a closer look at operational technology to ensure continued business operations even in the event of an incident. More advanced security measures like endpoint detection response (EDR) and managed detection and response (MDR) can further enhance security and may unlock better coverage terms.

Ultimately, as companies grow, so do the stakes — impacting not just their business, but also shareholders and their supply chain. Implementing these controls both strengthens security and may help secure better terms and rates on their policy. 

4. Can you share a recent example of how you won a middle market account?

Sure! Service to the broker is crucial when working on a middle market account. Our approach is to collaborate closely with brokers to fully understand the client’s priorities.

In one recent case, the client had experienced a prior claim, which led to a non-renewal from their previous carrier. It also made them highly aware and focused on coverage in their search for a new cyber provider. Through multiple conversations with the broker, we were able to identify the client’s needs and offer key coverages, including breach costs outside the limit, full ransomware limits, and comprehensive coverage for all of their subsidiaries and sister companies.

Additionally, the client was seeking a long-term partnership after being non-renewed, so they really valued our Stance™ product, which provides continuous monitoring of their environment and alerts them to vulnerabilities. This proactive security reassured them that At-Bay would support them before, during, and after a cyber incident. 

5. What’s your favorite part about underwriting?

My favorite part about underwriting is the balance it offers between relationship building and the technical side of analyzing risks. I enjoy connecting with brokers, being a trusted resource in developing solutions for their clients, and forming long-lasting relationships. At the same time, I love diving into submissions, learning about different businesses, and understanding their exposures to craft the right coverage.

My mom introduced me to the insurance industry, and after starting in marketing, I realized that underwriting was where my true passion lay — specifically in blending relationship building with technical expertise.

About At-Bay

At-Bay is the InsurSec provider for the digital age. By combining world-class technology with industry-leading insurance, At-Bay was designed from the ground up to empower businesses of every size to meet cyber risk head on. At-Bay Insurance Services, LLC provides insurance protection and security prevention solutions to close to 40,000 businesses in the US, safeguarding up to $800B in collective business revenue, and offers coverage by admitted and non-admitted insurers for Cyber, Technology Errors & Omissions (Tech E&O), and Miscellaneous Professional Liability (MPL). The At-Bay Group also includes an active full-stack insurance company and a cybersecurity company. At-Bay Security offers proprietary cybersecurity solutions including At-Bay Stance Managed Detection & Response (MDR).