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by Joshua J. Motta
Some Good News
Published on May 20, 2020, 2:00 PM
We're excited to announce that Coalition raised $90 million in equity capital to fuel its mission to solve cyber risk, and support its rapid growth and global expansion....
Insurance Updates
by Miki Ho
Coalition in Canada! 🇨🇦
Published on May 18, 2020, 3:00 PM
What’s unique about cyber risk is that it is inherently global. The free tools, technology, and intelligence that protect all of our US-based policyholders are just as applicable to entities based outside the US. As of May 2020, we’ve launched in Canada!
Insurance Updates
by Catherine Lyle
Claims in the time of Coronavirus
Published on May 5, 2020, 10:59 PM
While Coalition’s claims team sees a variety of cyber events on a daily basis, we understand that the quickest way to monetize the crime will always be the most common. During the COVID-19 pandemic, the crime of choice is funds transfer fraud by way of email intrusion.
Insurance Updates
by Joshua J. Motta
Is it covered? Remote Work, BYOD & COVID-19
Published on April 8, 2020, 2:43 PM
The hallmark of a great (cyber) insurance policy is that it is broadly written to cover every imaginable loss scenario — yes, including those arising from a pandemic! — while clearly defining which scenarios are excluded from coverage.
Tips
by Tiago Henriques
Cyberinsurance and Data - Part 1
Published on April 6, 2020, 2:00 PM
Data tells us the state of policyholders' risk exposure, potential vectors of attack when a claim is filed, and shows us trends and accumulation in our books. Data is a large part of our DNA.
Tips
by Jen McPhillips
How your company can stay productive & secure while working remotely (Part II)
Published on March 20, 2020, 10:18 PM
Best practices for your team to stay productive and secure while working remotely
Tips
by Jen McPhillips
How your company can stay productive & secure while working remotely (Part I)
Published on March 19, 2020, 8:01 PM
Best practices for your team to stay productive and secure while working remotely
Product Updates
Product Updates
by Joshua J. Motta
The Secret Coalition Master Plan, or why we acquired BinaryEdge
Published on January 22, 2020, 2:00 PM
Coalition has acquired BinaryEdge, the leading security and threat intelligence provider. This acquisition enables us to improve our cyber insurance underwriting capabilities and provide free, real-time security monitoring to Coalition policyholders.
Tips
Tips
by Leeann Nicolo
Ransomware on the rise for the holidays
Published on December 12, 2019, 7:35 AM
Ransomware continues to be one of the largest areas of cybersecurity claims for businesses and local governments. Over the past few weeks, we have witnessed a spike in ransomware infections and claims across Coalition insureds – and we project the number and frequency to continue to rise
Tips
by John B. Roberts
Save money while improving security: the value of Multi-Factor Authentication
Published on September 10, 2019, 1:00 PM
Carrots never tasted so good. 🥕 Incentives are important, and we’re happy to announce our newest “carrot” for Coalition policyholders: the Multi-Factor Authentication (MFA) Retention Reduction endorsement. That’s a mouthful, but it’s simple. We’re happy to reward good security practice, and MFA (or 2FA) is not just good security practice -- it’s great security practice. Multi-Factor Authentication is a security measure that adds a layer of protection to systems by requiring at least one add
Insurance Updates
by Joshua J. Motta
What happened to Capital One could happen to any business. Fortunately, they were insured.
Published on August 1, 2019, 5:47 PM
If a corporation with the resources of Capital One can't protect their network, how can any other business be expected to? This is the harsh reality confronting small and mid-size business owners. A single mistake can be costly...even company-ending.
Product Updates
by Dr. Lee V. Mangold
Introducing Security Awareness Training, provided in partnership with Curricula
Published on June 24, 2019, 3:22 PM
Over the past few months, we’ve been working with some of the world’s leading security training vendors in search of the best fit for our insureds. Our goal was simple: to find the most engaging security awareness training to help our insureds stay safe. Today we're excited to announce [https://www.thecoalition.com/announcements/coalition-partners-with-curricula-to-bring-effective-security-awareness-training-to-cyber-insurance-policyholders] a new partnership with security awareness training ve
Product Updates
by Joshua J. Motta
Putting $40M to work for you — our partners and policyholders
Published on May 9, 2019, 4:00 PM
Dear extended Coalition team, We’re excited to announce today that we’ve received a $40M investment from leading global investment firms Ribbit Capital, Greenoaks Capital, and Hillhouse Capital, with participation from all of our existing investors.
Tips
by Nelson Auner
Improving Cyber Underwriting with Active Learning
Published on March 13, 2019, 5:21 AM
The core requirement of any risk-taking insurance platform is the ability to accurately and consistently score the risk of a potential insurance policy. Despite the buzz about artificial intelligence replacing traditional insurance underwriting, we believe best-in-class underwriting in cyber is achieved by combining human expertise with algorithmic decision-making. Active Learning [https://en.wikipedia.org/wiki/Active_learning_(machine_learning)] is a subset of machine learning where the algorit
Tips
by Joshua J. Motta
What Major Data Breaches Tell Us About Cybersecurity Today
Published on December 7, 2018, 7:09 AM
Another day, another data breach. This past Friday Marriott International revealed that hackers had breached its Starwood reservation system as far back as 2014 and had stolen the personal data of up to 500 million guests. In the aftermath, Senator Ed Markey of Massachusetts described data breaches as "a black cloud hanging over the United States' bright economic horizon." So black that another Senator, Ron Wyden of Oregon, went on to declare that "until companies like Marriott feel the threat o
Insurance Updates
Insurance Updates
by Joshua J. Motta
Coalition is named to Fintech 250
Published on October 30, 2018, 6:48 PM
We're excited to announce that we’ve been named to this year’s CB Insights’ Fintech 250 [https://www.cbinsights.com/research/fintech-250-startups-most-promising/] list, a prestigious group of the most promising companies working on financial technology across the globe. We’re humbled to be included among thirty fintech unicorns (i.e., companies valued at over $1bn) and as one of only twenty other Insurance companies. Naturally, this wouldn’t have been possible without the support of our partne
Tips
Tips
by Joshua J. Motta
Everything You Always Wanted To Know About Cryptojacking
Published on October 23, 2018, 4:59 PM
This article originally appeared in Advisen FPN on October 23, 2018. From the hacker’s perspective, it’s the perfect crime. Cyber criminals use your organization’s computing power to mine cryptocurrency, without you even realizing you’ve been compromised. Maybe you notice that your organization's computers are running slower and more sluggishly than usual. Perhaps you receive an unusually high bill from one of your web services providers. There’s no data loss, no business interruption, none of
Insurance Updates
by John B. Roberts
Coalition on tour - where to find Coalition fall 2018
Published on September 20, 2018, 1:05 PM
At Coalition, we’re always ready to catch up with customers, brokers, and everyone else interested in solving cyber risk. Really... try us [https://www.thecoalition.com/contact]. Over the next several weeks, at different events, you can find us in person around the United States sharing some of what we know and are learning from businesses far and wide. If you’ll be at one of these events, or are nearby and want to connect with someone from Coalition, let us know. Oh, and we are hiring [https:
Insurance Updates
by John B. Roberts
Welcome Big “I” Members
Published on June 12, 2018, 11:15 AM
Today, Coalition's mission to Solve Cyber Risk just got a big boost. 10,000 insurance agencies, all Big “I” members, will have access to Coalition's coverage and tools for the millions of businesses they serve. The Independent Insurance Agents and Brokers of America (IIABA or the Big “I”) was founded in 1896. But this influential organization keeps up with the ever-changing marketplace, and selected Coalition (founded 2017) as the solution for today's most dynamic challenge: cyber risk. Here
Tips
by Alex Becker
Practical Security: Passwords
Published on April 30, 2018, 6:57 PM
We're pleased to present the first in a series of practical security posts for our policyholders. Despite an explosion of cybersecurity buzzwords ranging from anomaly detection to next generation anti-virus, our claims data and experience reveal that simple security measures are often the most effective. This week we turn our focus to password security. Most computer systems rely on passwords, and all the cybersecurity in the world won't help you if someone knows or guesses your password. Advi
Insurance Updates
by Joshua J. Motta
Coalition nominated for Advisen 2018 Cyber Risk Award
Published on April 17, 2018, 11:23 PM
It's too soon to know the outcome, but we're honored to have been nominated by our insurance industry peers as the "Cyber Newcomer of the Year" at this year's Advisen Cyber Risk Awards [https://www.advisenltd.com/2018/06/06/-cyber-risk-awards/]. And newcomers we are - both as a company and a team. It was only a year ago that Coalition was founded with a mission to solve cyber risk, and to help protect businesses from the many risk exposures that accompany technology. Now, only a few months a
Insurance Updates
by Joshua J. Motta
Coalition raises $10m from leading technology investors
Published on February 28, 2018, 12:00 PM
Dear extended Coalition team, We’re thrilled to announce [https://www.thecoalition.com/announcements/cyber-insurer-coalition-raises-10-million-to-solve-cyber-risk-for-smbs-2018-feb-28] some news: we’ve received a $10M Series A investment from leading global investment firms Vy Capital, Ribbit Capital, and Valor Equity Partners, as well as notable technologists such as Sam Altman (President of Y Combinator) and Deep Nishar (former Head of Product at LinkedIn, and current Senior Managing Directo
Product Updates
by John B. Roberts
Introducing HackerOne Response, the latest app from Coalition
Published on February 13, 2018, 11:30 AM
Today we announced [https://www.thecoalition.com/announcements/hackerone-joins-forces-with-coalition-to-bring-hacker-powered-security-to-cyber-insurance-policyholders-2018-feb-13] the HackerOne Response app in partnership with HackerOne [https://www.hackerone.com], another tool in the growing cyber risk management platform [https://www.thecoalition.com/platform] offered to all Coalition policyholders. This new app allows any organization to receive and respond to security vulnerabilities disco
Insurance Updates
Insurance Updates
by Joshua J. Motta
10 costs your cyber insurance policy may not cover (unless it’s with Coalition)
Published on January 30, 2018, 10:07 PM
Dark Reading, long one of the most widely-read cyber security news sites on the web, recently ran a story warning of the “10 Costs Your Cyber Insurance Policy May Not Cover [https://www.darkreading.com/risk/10-costs-your-cyber-insurance-policy-may-not-cover/d/d-id/1330888] .” We noticed this as well. Most cyber insurance policies simply do not cover many of the real-world risk exposures companies face as they embrace technology (and all of its consequences). This is one of the reasons why we fou
Insurance Updates
Insurance Updates
by Joshua J. Motta
Is it covered? Spectre and Meltdown
Published on January 9, 2018, 5:40 AM
In this installment of our blog we ask the age-old insurance question: Is it covered? As you may have read in our last post [https://blog.thecoalition.com/cyber-meltdown-and-the-spectre-of-uninsurable-risk/] , two major security flaws were recently discovered in the processors that power nearly all of the world’s computers. The two techniques discovered to exploit these flaws, nicknamed Meltdown [https://meltdownattack.com/] and Spectre [https://spectreattack.com/], could allow hackers to steal
Insurance Updates
by Joshua J. Motta
Cyber meltdown and the spectre of uninsurable risk
Published on January 8, 2018, 6:08 PM
It’s been an awfully eventful start to the New Year. In case you’ve missed the news, two major security flaws have been discovered in the processors that power nearly all of the world’s computers. The two techniques discovered to exploit these flaws, nicknamed Meltdown [https://meltdownattack.com/] and Spectre [https://spectreattack.com/], could allow hackers to steal data and secrets from any vulnerable computer, including mobile devices. Because the flaws are with the computer processor itself
Insurance Updates
by Catherine Lyle
Insuring Insurance Insures
Published on December 11, 2017, 6:55 PM
Out of service. Under repair. Broken. It’s a frustrating message to encounter. But far more frustrating is when something works, though not in the way we know it could. Without an obvious problem, there is no immediate fix or resolution. Instead, we carry on with the status quo and settle for the unremarkable. Welcome to insurance Insurance was introduced in the United States in the 1700s and, since that time, not much has changed. And for good reason. Insurance does work, just not in the way i
Product Updates
by Shawn Ram
Why I joined Coalition
Published on December 7, 2017, 5:37 PM
It may feel like an oxymoron, but innovation in insurance is possible. I’ve built my career on this belief as the leader of the Technology Practices at Aon and Crystal & Company. However, with few exceptions, “innovation” and “insurance” are rarely found in the same sentence. In an industry characterized by conservatism, discipline, and a natural aversion to risk, this belief has helped me to push the boundaries of what our industry is capable of. It has pushed me to ask, “how can we do this bet
Insurance Updates
by Joshua J. Motta
Why we founded Coalition
Published on December 5, 2017, 1:13 AM
Background: the initial focus of Coalition is a cyber insurance product that provides the most comprehensive coverage for risks posed by the digitization of everything. However, you may not be aware that our long term plan is to democratize access to the technology and services needed to prevent loss in the first place (we're off to a good start [https://www.thecoalition.com/platform] !), and to mitigate and recover from it when it occurs. This is because the overarching purpose of Coalition, an
Coalition’s products are offered with the financial security of Swiss Re Corporate Solutions* (A.M. Best A+ rating), Lloyd’s of London (A.M. Best A rating), and Argo Pro US** (A.M. Best A- rating).
WHAT WE DO
© 2020 Coalition, Inc. | Licensed in all 50 states and D.C. | CA License # 0L76155
*Insurance products may be underwritten by North American Capacity Insurance Company, North American Specialty Insurance Company, or an affiliated company, which are members of Swiss Re Corporate Solutions. **Insurance products may be underwritten by Peleus Insurance Company, Colony Specialty Insurance Company, or an affiliated company, which are members of Argo Group US, Inc.