Coalition, the world’s first Active Insurance provider designed to prevent digital risk before it strikes, today announced it will enter the excess cyber insurance market in the United Kingdom to help protect businesses with enhanced coverage.
By adding additional capacity to the market in this way, Coalition will help more businesses get the coverage they need to protect themselves from digital risks. Coalition will extend its reach to provide full-follow form coverage and protection of up to £10m above a primary layer of insurance from another insurer for both cyber and technology professional indemnity (PI) lines.
A Coalition excess policy provides the added benefits for policyholders of access to Coalition Control, its proprietary attack surface monitoring technology that delivers up-to-the-minute, personalised risk assessments, as well as advice from Coalition’s in-house incident response cyber support team. Coalition’s policies are supported by Allianz and Lloyd’s of London.
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Tom Draper, Coalition’s U.K. Head of Insurance, said: “Our new excess product is designed to help U.K. brokers struggling to find enough cyber and tech PI protection for their clients. By bringing in Coalition to provide excess cover, brokers give their clients greater reassurance with our state-of-the-art prevention technology and early threat warnings from our 24/7 internet scanning operation.”
The firm already offers excess of loss cyber products in the U.S. (beginning in July 2020) and Canada (beginning in July 2021).
Coalition launched in the U.K. in September 2022. The company was founded in the United States in 2017. Earlier this year, the firm launched its own insurance company in the U.S. called Coalition Insurance Company.
