Cyber insurance industry leader will help drive Coalition’s rapid expansion
SAN FRANCISCO, CA – (July 14, 2020) — Coalition, the leading cyber insurance and security company, today announced the addition of Marcin Weryk as Head of Business Development. Weryk brings more than 15 years of insurance industry experience as a cyber and technology E&O underwriter managing teams at global carriers, most recently at XL Catlin.
Coalition announced in May that it raised $90 million in equity capital to fuel its rapid growth and expansion. As head of business development, Weryk will support this growth by driving the company’s distribution strategy.
“We are very pleased to welcome Marcin to our team. He is a trusted and respected leader in insurance,” said Shawn Ram, Head of Insurance at Coalition. “Marcin has spent his career collaborating with brokers to help manage their clients’ technology risks. His insurance industry experience and market relationships will help us strengthen and expand our service to brokers globally.”
Brokers who use Coalition’s platform are able to quote, bind, and issue a policy in under 4 minutes. Each policy includes cybersecurity tools and real-time threat intelligence to prevent losses, security and incident response services to contain them, and comprehensive cyber insurance to help organizations recover from failures and breaches. Coalition offers brokers the broadest cyber risk coverage including bodily injury, property damage, and pollution as part of its standard cyber insurance offering.
“For cyber insurance to be successful as a solution, cybersecurity needs to be integrated with policies to help clients mitigate risk every day, not just when an incident occurs. Coalition’s technology focus with highly trained cybersecurity experts and suite of tools and services offers a completely new approach to the role of a cyber insurer,” said Weryk. “Coalition is deeply invested in solving cyber risk, not just insuring it. I believe in this mission and look forward to helping brokers protect businesses in a whole new way.”
Weryk was most recently Vice President and Head of Cyber Risk for Western and Southern U.S. at XL Catlin. He has also held cyber and technology underwriting positions at XL Catlin and CNA. Weryk has been directly involved in the underwriting of all business classes and sizes of risk, from small businesses to Fortune 100 companies.
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 9 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, Vancouver and Toronto.