Cybersecurity can be overwhelming, and businesses have a lot to stay on top of to avoid a cyber attack. Weak or outdated security controls and critical vulnerabilities can open the door for opportunistic threat actors and pave the way for a cyber insurance claim.

To inform policyholders of new and emerging risks, Coalition sends security alerts to notify businesses about Critical Security Findings. These alerts may initially be confusing, especially if a policyholder doesn't consider themselves technically savvy — that's why we ensure remediation support is readily available.

Coalition's Security Support Center is filled with an experienced team of technical experts who are ready to help policyholders take action on alerts. Let's look at how the Security Support Center directly helps policyholders and how the benefits extend to brokers, too.

Helping businesses understand security alerts 

One of the biggest tasks our team in the Security Support Center handles is explaining scans and alerts. Many policyholders aren't used to having a proactive relationship with an insurance company. They typically just talk to their brokers at the time of renewal, and only talk to insurers if they have a claim. So when a security alert from Coalition arrives in their inboxes, they're understandably surprised. 

Security alerts are how we warn businesses about new cyber threats. We frequently scan the perimeters of our policyholders, similar to how threat actors look for weaknesses to gain access to a business' network. If we identify an exposure that is likely to be exploited and result in a loss, we immediately notify the policyholder with a security alert.

If a policyholder receives an alert and needs help resolving an issue, we direct them to our Security Support Center. Using claims feedback on real-world losses for companies in the same peer group, our team provides policyholders with long-term mitigations to reduce their cyber risks. That's why policyholders with one unresolved Critical Security Finding were 33% more likely to experience a claim than those who resolved the finding.

When a policyholder calls the Security Support Center, we make sure to convey information in a manner that is both actionable and easily understood — even if they aren't an IT professional. Our goal is to ensure all questions are answered, every policyholder walks away with a workable solution, and everyone avoids a loss.

Case study: Providing solutions to protect sensitive data

Let's look at a recent example of how Coalition experts in the Security Support Center helped one of our policyholders address a security alert:

A medical facility contacted us with questions about a security alert regarding a remote access solution that was impacted by a critical vulnerability. The software in question was part of a critical business process, so deprecating the technology was not an option.

Because the vulnerability could not be sufficiently addressed through patching alone, Coalition had concerns about it leading to a compromise of sensitive data, including personally identifiable information (PII) and personal health information (PHI). 

Deeply familiar with this vulnerability, members of our Security Support Center helped pair our policyholder with an external security partner to add an extra layer of defense  that would allow the medical facility to continue operating without disruption or changes to its existing process. As a bonus, our policyholder received a discount on its new security tool through Coalition Control™.

3 ways the Security Support Center benefits brokers

In the face of frequent and costly cyber attacks, cyber insurance is changing to meet the needs of our digital economy. Our team in the Security Support Center helps policyholders take action on important security alerts and play an active role in risk reduction. Here's how brokers stand to benefit.

1. Let us handle technical conversations with clients on your behalf

As a broker, clients expect you to provide loss control guidance and serve as a cyber risk advisor — but you don't have to do it alone. Save yourself the time and effort by allowing our team of experts in the Security Support Center explain new cyber threats, provide actionable recommendations, and answer your clients’ questions along the way.

2. Think of us as your own personal cyber resource

If you've ever needed a second review on an application or guidance on how to answer technical questions about contingencies, you know having reliable resources at your disposal is invaluable. Our team of experts is readily available to policyholders, but we’re always happy to connect with brokers who prefer to manage their client relationships more directly. 

3. Deepen your client relationships through sound advice

Trusted advisors build lasting relationships that transcend market cycles and price fluctuations. Staying on top of security alerts  presents a unique opportunity to help deliver peace of mind and ongoing value. Our team gives you the information, visibility, guidance, and support to make actively addressing your clients' cyber risk easier than ever. 

The Security Support Center gives brokers and policyholders actionable support when they need it most. For questions or concerns that emerge during their policy period, log in to Coalition Control™ or email the Security Support Center.

This blog post is designed to provide general information on the topic presented and is not intended to construe or the rendering of legal or other professional services of any kind. If legal or other professional advice is required, the services of a professional should be sought. The views and opinions expressed as part of this blog post do not necessarily state or reflect those of Coalition. Neither Coalition nor any of its employees make any warranty of any kind, express or implied, or assume any legal liability or responsibility for the accuracy, completeness, or usefulness of any information, product or process disclosed. The blog post may include links to other third-party websites. These links are provided as a convenience only. Coalition does not endorse, have control over nor assumes responsibility or liability for the content, privacy policy or practices of any such third-party websites.  Copyright © 2023. All rights reserved. Coalition and the Coalition logo are trademarks of Coalition, Inc.