Coalition, the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced the expansion of its cyber insurance offering to enterprise businesses with revenues up to $5 billion. The company's increased capacity above its existing limit of $1 billion comes from a syndicated placement across many of its existing partners.
"By opening up our capacity to enterprise businesses with $5 billion in revenue, we are widening the field of companies we can protect," said Shawn Ram, Head of Insurance at Coalition. "For the first time, enterprises can benefit from Coalition's Active Insurance, a dynamic cyber protection system that resolves complex claims should they arise, but also works around the clock to help prevent them in the first place."
Typically, enterprise businesses have a stronger cybersecurity posture than smaller organizations due to available resources, but they also have a much larger attack surface to monitor and defend. Coalition's Active Cyber Insurance can provide additional layers of protection by fitting into existing enterprise-scale security programs while also creating a backstop should any attack get through. Further, implementing Active Insurance means more visibility into an organization's overall cyber risk posture, which makes the adoption and implementation of insurance less onerous and more dynamic when coupled with a more efficient underwriting process.
"The truth is that no business or organization regardless of size, resources or revenue is immune to cyber attacks," said Tiago Henriques, Coalition's Vice President of Security Research. "Most large enterprises have the means to establish strong cybersecurity postures, but that should not preclude them from the benefits of adding cyber insurance to the mix. Cyber insurance should be a critical component of any company's defense-in-depth strategy."
For brokers, this expansion to large enterprise businesses means an opportunity to offer Coalition policies to more customers and access the fast quoting, renewals, and claims that Coalition is known for. As always, Coalition's exclusive combination of always-on cybersecurity tools, active risk assessment for more streamlined underwriting, and efficient claim resolution process makes this an easy decision for brokers looking to increase their share of business in mid-market and enterprise-level clients.
To learn more about Coalition and Active Insurance, please visit: coalitioninc.com.
Coalition Insurance Solutions Inc. ("CIS"), a licensed insurance producer with its principal place of business in San Francisco, CA (Cal. license #0L76155), is acting on behalf of a number of unaffiliated insurance companies. Insurance products offered through CIS may not be available in all states. CIS may receive compensation from an insurer or other intermediary in connection with the sale of insurance. All decisions regarding any insurance products referenced herein, including approval for coverage, premium, commission, and fees, will be made solely by the insurer underwriting the insurance under the insurer's then-current criteria. All insurance products are governed by the terms, conditions, limitations, and exclusions set forth in the applicable insurance policy. Please see a copy of your policy for the full terms, conditions, and exclusions. Copyright 2023. All rights reserved. Coalition and the Coalition logo are trademarks of Coalition, Inc. or its affiliates.
About Coalition
Coalition is the world's first Active Insurance provider designed to prevent digital risk before it strikes. By combining comprehensive insurance coverage and cybersecurity tools, Coalition helps businesses manage and mitigate digital risks. Coalition offers its Active Insurance products in the U.S., U.K., and Canada through relationships with leading global insurers, including Arch Insurance North America, Allianz, Ascot Group, Lloyd's of London, Swiss Re Corporate Solutions, Vantage, and management liability coverage through Zurich American Insurance Company. Its security products are available to organizations worldwide. Coalition's Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates digitally and in office hubs.
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Contacts:
Marisa Graves
Communications at Coalition
press@coalitioninc.com
