Coalition's security team works round-the-clock to help prevent security incidents from occurring. But should the worst happen, our incident response team is standing by to help you recover.
When disaster strikes, you need a partner who can respond swiftly — no more time wasted coordinating between your insurance company, lawyers, and 3rd party vendors. Coalition is the 9-1-1 emergency response for your business.
Ransomware is a global epidemic and one of the most dangerous security threats facing organizations large and small. Ransomware attacks are often devastating, and have the potential to inflict serious operational and financial harm to an organization, including total interruption of computer systems and permanent loss of data.
Employees: 25 - 50
Colocations and IT services provider
Host of high value business applications for dozens of organizations
I would just like to say that I have learned what customer service is all about. Your professionalism and efficiency has helped keep our company in business. After 25 years, this ransomware would have done irreparable damage as compared to the inconvenience it was. Thank you so much.
After 25 years of continuous business operations, the business owner of a colocation and IT services firm awoke to discover that all of the company’s computer systems and data, including data belonging to the company’s customers, had been encrypted in an elaborate ransomware attack. Even worse, the ransomware encrypted the company’s backups as well. Unable to afford the 25 bitcoin ransom (equivalent to ~$200,000), the company was left with few options. Then they called Coalition.
Within minutes of receiving the company’s call, Coalition’s Security Incident Response team (SIRT) made contact with company employees to diagnose the damage and minimize further loss. After reviewing the company’s options, the company asked SIRT to help facilitate the decryption of the company’s data. In less than 24 hours SIRT worked with the Coalition claims team to secure bitcoin on the company’s behalf and facilitate the decryption of the company’s files. A member of SIRT was then present onsite to help restore the company’s files, perform forensics, and ultimately help the company protect against future attacks. Total time to resolution was 48 hours from initial compromise.
Fortunately, the insured’s cyber insurance policy with Coalition covered the business interruption loss, the forensic and data restoration costs, as well as the cyber extortion itself. The insured also purchased Technology Errors & Omissions coverage from Coalition to help the company recover from liability to impacted customers.
Unlike traditional insurance providers, Coalition provides emergency first response services to help organizations recover quickly from cyber incidents, and at no additional cost to the policy premium.
New regulatory frameworks, including the General Data Protection Regulation (GDPR) and California Consumer Privacy Act (CCPA) require companies to adhere to high standards of data and privacy compliance. Many companies need guidance on how to comply, and insurance protection in the event that an incident puts them afoul of regulation.
Employees: < 25
Provides dental care for patients across two offices
Highly regulated industry
This policy that my broker recommended is really great. I didn’t expect all this. I’ll have to call my broker and thank him!
Under the heavy burden of increasing regulation, and following a less than stellar claims experience with a traditional insurer after a previous data breach, a Michigan-based healthcare organization turned to Coalition for both superior coverage, and help with regulatory compliance both nationally and on a global scale. The organization was looking for an insurance policy that:
Provided broad coverage for privacy regulations including local, state, federal, and foreign laws such as GDPR
Included coverage for voluntary notification (which wasn’t covered in their last policy) with no caps on the number of individuals notified
Went beyond just insurance — they needed help with compliance and cybersecurity to protect their patient data
After reviewing options with their insurance broker, they chose Coalition. And in addition to receiving superior coverage, they’ve re-written their security policies with help from Coalition’s Security Incident Response Team (SIRT), and are using Coalition’s included Employee Security Training and simulated phishing emails with every single member of their staff.
Coalition’s included security tools can reduce an organization’s costs to detect, recover, and contain a breach by over 40%, and are available to all policyholders at no additional cost.
Fraudulent funds transfers is one of the most common claims we see amongst Coalition policyholders. Malicious actors can gain access to a company’s corporate email systems through phishing attacks and spoofed emails, among other methods, and impersonate executives with a fraudulent request. Thankfully, Coalition is often able to help recover the funds — even after they’re out the door.
Provide general legal services and title/real estate closing services
Handles significant volume of large wire transfers
I do not know what I would have done without Coalition. On behalf of the entire company, I really appreciate it.
We received a call that a client had lost $200,000 in a social engineering incident. A hacker sent a spoofed email to their controller, impersonating the company’s CFO, and the controller wired the funds to the bad actor. The company thought the funds were gone for good, but then they called Coalition.
Upon receiving the call, Coalition immediately began discussions with financial institutions and law enforcement. As a result of Coalition’s urgency and relationships, $150,000 of the $200,000 was recovered within 24 hours of receiving the call. The money was returned to the client, and they were able to quickly get back to business. Their insurance policy with Coalition covered the remainder of the lost funds. Coalition’s Security team also helped the company put two-factor authentication practices in place, to ensure a second person at the firm signed off on all significant wire transfers.
Unlike traditional insurance companies, Coalition has the relationships and know-how to recover funds even after they’re out the door. For many policyholders, we’re able to recover all of the funds lost -- helping them avoid a claim entirely!
Cyber risk is no longer a purely digital risk. Increasingly, company’s industrial processes are controlled by computers, which means they’re at risk of being attacked. Coalition’s policy is unique in covering the full spectrum of physical damage that can result from a cyber attack, alongside the financial and intangible damages a company can suffer.
$225 million in revenue with thousands of endpoints
Heavy use of operational technology including ICS and SCADA systems
Thank you for your quick response to this claim. Less than two hours, and you’ve already set-up and assigned the claim and made contact with the insured – amazing! I don’t think I have ever seen a quicker response to a claim.
One of Coalition’s policyholders, a manufacturer that produces industrial components, experienced a cyber attack on their industrial control systems (ICS). The company’s system controlled their production line, and when the hacker gained remote control of the ICS, they inflicted significant damage on the production equipment and destroyed the in-process components.
Thankfully, the company was insured by Coalition, and their Bodily Injury and Property Damage and Business Interruption coverages went into effect. Even better, Coalition’s Security Incident Response Team (SIRT) helped them regain control of their systems and secure their network to prevent another attack from occurring.
Coalition’s industry-leading policy provides coverage for the real exposures businesses face and that other carriers don’t cover. With the broadest coverage and proactive cybersecurity tools, you’re safer with Coalition.