Coalition Enters Excess Cyber Insurance Market in the United Kingdom

Date:

Share post:

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.

Also Read: Use Cases of Artificial Intelligence in Fintech

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.

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

GOBankingRates Is Helping Americans Save More Ahead of National Savings Day

Many Americans strive to save more money but aren't actually taking the steps necessary to do so. GOBankingRates wants...

MassChallenge Announces Open Call for FinTech Startups to Apply for the 2024 FinTech Program

MassChallenge FinTech offers applications for its sixth FinTech accelerator program. It provides a comprehensive curriculum paired with personalized...

SEI Launches Enhancements to Advisor Technology Suite

SEI® today announced the launch of enhanced technology capabilities in its Investor Portal, a white-labeled solution within SEI Connect...

RiverStone International to Drive Investment Strategy with Clearwater Analytics

Clearwater Analytics , a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that...