New $0 retention for customers using the Coalition Incident Response services during a claim provides immediate access to dedicated in-house team
SAN FRANCISCO — December 2, 2020 — Coalition, the leading provider of cyber insurance and security, is now offering a $0 retention as part of its policy for insureds that use Coalition's in-house Incident Response services. For small to midsize businesses facing a cyber claim, this policy enhancement provides immediate access to Coalition’s dedicated Incident Response team, with no out-of-pocket retention expense for security and forensics services.
Coalition’s in-house Incident Response team includes cybersecurity experts with previous government experience within the NSA, CIA, and FBI, as well as leading incident response firms and corporate security teams. This team is available to Coalition policyholders at no cost and has the authority, expertise, and experience to provide immediate assistance. With an average response time of under five minutes, Coalition Incident Response drastically reduces the costs and potential time lag when responding to attacks.
In addition to Incident Response, Coalition offers a full range of free cyber security tools and services to support customers throughout the entire lifecycle of their risk exposure — before, during, and after an incident. As a result of its real-time threat intelligence, automated security alerts, and pre-breach security services, Coalition has handled 45 percent of reported events without filing a claim and avoiding any expense to the insured. Coalition’s Incident Response and Claims teams have also clawed back 84 percent of all funds lost by policyholders in social engineering events.
“Coalition’s mission is to solve cyber risk, and part of that is eliminating the high cost of forensics services that are simply out of reach for small to midsize businesses,” said Shawn Ram, Head of Insurance for Coalition. “Coalition’s Incident Response team shares the same incentive as our policyholders — to mitigate risk, not to sell more cyber services. Given our team’s track record in helping organizations recover and making them whole again, with minimal disruption to their operations, we are excited to offer this benefit to our customers.”
To learn more about Coalition, visit coalitioninc.com.
Coalition is the leading provider of cyber insurance and security, combining comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by leading global insurers Swiss Re Corporate Solutions, Lloyd’s of London, and Argo Group, Coalition provides companies with up to USD $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia, as well as CAD $20M of coverage across all 10 provinces in Canada. Coalition’s cyber risk management 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 has presences in New York, Los Angeles, Chicago, Dallas, Washington DC, Miami, Atlanta, Denver, Austin, and now Vancouver and Toronto.