Coalition will offer lower cyber insurance premiums to small and midsize businesses who engage the trusted hacker community on HackerOne.
SAN FRANCISCO, CA – (Feb 13, 2018) – Coalition, the first technology-enabled cyber insurance solution, and HackerOne, the leading bug bounty and vulnerability disclosure platform provider, today announced a partnership to bring hacker-powered security and lower cyber insurance premiums to small and midsize businesses.
Beginning today, Coalition policyholders can easily create a HackerOne vulnerability disclosure program using the HackerOne Response app now available within Coalition’s cyber risk management platform. This app is available at no additional cost to all Coalition policyholders. HackerOne Response allows any company to receive and respond to vulnerabilities discovered by trusted hackers before criminals can exploit them. Coalition policyholders can also launch a bug bounty program and access other HackerOne services under the arrangement.
Through the collaboration, any company with a vulnerability disclosure or bug bounty program is eligible for lower premiums on Coalition’s Cyber and Technology Errors & Omissions insurance. Companies who already have a program in place and are publicly listed within the HackerOne Program Directory will receive the discount automatically upon applying for insurance coverage. Meanwhile, companies who are new to hacker-powered security can use the free HackerOne Response App available through Coalition to easily create a program and qualify for lower insurance rates.
“Unknown security vulnerabilities pose serious risk to companies and their customers,” said Alex Rice, CTO and co-founder, HackerOne. “We are excited to partner with Coalition to help these organizations reduce their risk and premiums by engaging the friendly hacker community.”
“Technology vulnerabilities are among a company’s greatest risk exposures, but are all too often discovered only after the damage has been done. By partnering with HackerOne, we’re literally enlisting thousands of ethical hackers to protect our clients,” said Joshua Motta, Founder & CEO of Coalition. “We founded Coalition because we believed that existing approaches to cybersecurity and cyber insurance were broken. This partnership is a first of its kind designed to reward organizations that use risk management tools like those provided by HackerOne.”
For more information about the partnership, read Coalition’s blog; for more information on setting up a responsible disclosure program, read about five critical components of a vulnerability disclosure policy.
Coalition, the cyber risk solution from Joshua Motta and John Hering, combines comprehensive insurance and free cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by A+/A rated insurers Swiss Re Corporate Solutions and Argo Group, Coalition provides companies with up to $10M of cyber and technology insurance coverage in all 50 states and the District of Columbia. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and tools to help businesses remain resilient in the face of cyber attacks. Coalition is headquartered in San Francisco. For more information about Coalition, visit www.coalitioninc.com or follow us on Twitter @SolveCyberRisk.
HackerOne is the #1 hacker-powered security platform, helping organizations receive and resolve critical vulnerabilities before they can be exploited. More than 1,000 organizations, including the U.S. Department of Defense, U.S. General Service Administration, General Motors, Twitter, GitHub, Nintendo, Panasonic Avionics, Qualcomm, Square, Starbucks, Dropbox and the CERT Coordination Center trust HackerOne to find critical software vulnerabilities. HackerOne customers have resolved over 61,000 vulnerabilities and awarded over $24M in bug bounties. HackerOne is headquartered in San Francisco with offices in London and the Netherlands.
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* 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.