Industry-leading Active Insurance provider will now offer an additional layer of protection for U.K. companies
LONDON — March 13, 2023 — Coalition, the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced it will enter the excess cyber insurance market in the United Kingdom to help protect businesses with enhanced coverage.
By adding additional capacity to the market in this way, Coalition will help more businesses get the coverage they need to protect themselves from digital risks. Coalition will extend its reach to provide full-follow form coverage and protection of up to £10m above a primary layer of insurance from another insurer for both cyber and technology professional indemnity (PI) lines.
A Coalition excess policy provides the added benefits for policyholders of access to Coalition Control, its proprietary attack surface monitoring technology that delivers up-to-the-minute, personalized risk assessments, as well as advice from Coalition’s in-house incident response cyber support team. Coalition’s policies are supported by Allianz and Lloyd’s of London.
"Our new excess product is designed to help U.K. brokers struggling to find enough cyber and tech PI protection for their clients," said Tom Draper, Coalition’s U.K. Head of Insurance. "By bringing in Coalition to provide excess cover, brokers give their clients greater reassurance with our state-of-the-art prevention technology and early threat warnings from our 24/7 internet scanning operation.”
Brokers can submit directly to Coalition’s expert underwriting team and find out more at: https://www.coalitioninc.com/cyber-excess-tech-eo
The firm already offers excess of loss cyber products in the U.S. (beginning in July 2020) and Canada (beginning in July 2021).
Coalition launched in the U.K. in September 2022. The company was founded in the United States in 2017. Earlier this year, the firm launched its own insurance company in the U.S. called Coalition Insurance Company.
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.
© 2024 Coalition, Inc. | Licensed in all 50 states and D.C. | CA License # 0L76155
* Insurance products are offered in the U.S. by Coalition Insurance Solutions Inc., a licensed insurance producer and surplus lines broker. Insurance products may not be available in all states, For further details see here. ** Insurance products may be underwritten by Ascot Specialty Insurance Company, Ascot Insurance Company, or an affiliated company, which are members of Ascot Group. *** Insurance products may be underwritten by North American Capacity Insurance Company, Swiss Re Corporate Solutions America Insurance Corporation, or an affiliated company, which are members of Swiss Re Corporate Solutions. Fortegra® is the marketing name for the service contract and insurance operations of the subsidiaries of The Fortegra Group, Inc.