Active insurance pioneer Coalition has announced that its full-stack carrier, Coalition Insurance Company (CIC), is now quoting for its admitted cyber product across the entire United States.
Through CIC, the US admitted carrier wholly owned by Coalition, Inc., the insurer offers primary admitted cyber coverage for small and midsize businesses, including an expanded base form and affirmative coverage for crucial exposures.
Launched in 2023, CIC uses a competitive rating model that allows Coalition-appointed brokers to secure admitted cyber coverage for clients across the US.
Its policyholders also gain access to Coalition’s flagship risk management platform, Coalition Control, which has been designed to boost defence against digital risks.
The insurance products offered by CIC are reinsured by a panel of reinsurance carriers. CIC had originally begun quoting Coalition’s admitted cyber product in March 2023.
Shawn Ram, Coalition’s Head of Insurance, commented: “We are thrilled to now offer capacity through CIC across the entire US, transforming our ability to offer policyholders world-class, comprehensive cyber insurance products.
“We continue to drive the industry forward with coverage developed from our unique expertise in cyber underwriting, insights into cyber risk management, knowledge of cyber threat trends, and cyber claims data.”
As Coalition’s own carrier, CIC became the first monoline cyber insurer to achieve an A- (Excellent) Financial Strength Rating from AM Best in January 2023, a rating which was affirmed on March 28, 2024, and assigned an stable outlook.
According to Coalition, which markets itself as the world’s first active insurance provider, with products that combine insurance coverage and cybersecurity tools, this rating reflects CIC’s balance sheet strength, which AM Best assesses as very strong.
