Reinsurance News
Coalition
Coalition expands Active Cyber Insurance to Germany
1st August 2024
Cyber insurance provider Coalition has launched its suite of Active Cyber Insurance products in Germany, through its subsidiary Coalition Insurance Solutions GmbH. Coalition's expansion comes as cyber-attacks and IT system breakdowns stand amongst the biggest threats impacting German businesses today. Coalition's Active Cyber Insurance offering is designed to help organisations spot, mitigate, and ... Read the full article
Events like the CrowdStrike IT outage “are unlikely to reach catastrophic levels”: Coalition’s Motta
26th July 2024
$0.96 billion industry-wide loss experienced by US cyber insurance policyholders impacted by the CrowdStrike IT outage has been forecasted by cyber insurance provider Coalition, a low figure compared to the losses of natural catastrophe events that routinely impact the insurance industry. The IT outage took place on July 19, caused by ... Read the full article
Active cyber insurance vital for effective risk management: Motta, Coalition
4th July 2024
Joshua Motta, Founder and CEO of Coalition, advocates for the necessity of active cyber insurance due to the shortcomings of traditional approaches, highlighted by erratic rate fluctuations and the inadequate readiness of organisations facing escalating cyber risks. Speaking at the Marsh McLennan Rising Professionals’ Forum, Motta pointed to the volatile rate ... Read the full article
UK midsize firms wary of cyber insurance: Coalition
26th June 2024
A study by Coalition, a cyber insurance provider, reveals that many IT security leaders in midsize UK businesses are wary of cyber insurance, with only one in five (19%) respondents reporting a positive experience with it. The survey, conducted earlier this year with 500 senior cybersecurity professionals from mid-sized UK firms, ... Read the full article
Coalition report highlights growing need for enhanced email security
30th April 2024
According to findings from Coalition, an active cyber insurance provider, more than half (56%) of all cyber insurance claims in 2023 stemmed from either funds transfer fraud (FTF) or business email compromise (BEC), underscoring the importance of email security as a key component of effective cyber risk management. These insights are ... Read the full article
Coalition reveals new integrations with Microsoft 365, Google Workspace, & Amazon Web Services
16th April 2024
Coalition, an active cyber insurance provider, has revealed new integrations between Coalition Control, its cyber risk management platform, and cloud services providers, which includes Microsoft 365, Google Workspace, and Amazon Web Services. It has been confirmed that Coalition policyholders and Control customers can now connect Coalition Control with cloud services, in ... Read the full article
Coalition Insurance Company now quoting across the entire US
2nd April 2024
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 ... Read the full article
Coalition adds new Affirmative AI Endorsement to cyber insurance policies
27th March 2024
Active cyber insurance provider Coalition has added a new Affirmative Artificial Intelligence (AI) Endorsement to clarify what is covered by the company's US Surplus and Canada Cyber Insurance policies. According to the announcement, the endorsement expands the definition of a security failure or data breach to include an "AI security event," ... Read the full article
Coalition enters capacity agreement with Aspen for US support
11th March 2024
Coalition, an active cyber insurance provider, has entered a long-term capacity agreement with Aspen Specialty Insurance Company to deploy cyber insurance capacity in the US. Through this agreement, Aspen will assume a share of Coalition’s US surplus lines cyber program this year, beginning on or after April 1, 2024. Shawn Ram, Head ... Read the full article
Coalition report reveals rising cyber threats amidst business vulnerabilities
22nd February 2024
Coalition, an active cyber threat insurance provider, has released its Cyber Threat Index 2024, offering insights into cybersecurity trends from 2023 and emerging threats for 2024. The index projects a substantial 25% increase in common vulnerabilities and exposures (CVEs) for 2024, totalling 34,888 vulnerabilities. Tiago Henriques, Head of Research at Coalition, ... Read the full article
Coalition names Laura Stewart UK Claims Leader
6th February 2024
Active cyber insurance provider Coalition, has announced the appointment of Laura Stewart as its first UK Claims Leader, a London-based role. “Coalition’s Active Insurance is a unique solution that helps clients before, during, and after a cyber event. I am delighted to join Coalition at such an exciting time and look ... Read the full article
Coalition launches new Miscellaneous Professional Liability Insurance coverage
30th January 2024
Coalition, the Active Insurance provider, has announced it's new Miscellaneous Professional Liability (MPL) Insurance coverage. According to the firm, this coverage helps protect against the impact of a claim that a organisation committed errors and omissions in performing a professional service. From what we understand, the firm's MPL Insurance coverage is available ... Read the full article
Coalition appoints Mark Bird to lead UK Incident Response division
15th January 2024
Coalition has announced the appointment of Mark Bird as the head of Coalition Incident Response UK Ltd. (CIR), the company's affiliate incident response and cyber forensics organisation. Bird, a former Acting Sergeant in the police cybercrime unit, brings over 16 years of experience in investigating cybercrime with the West Midlands Police. Mark ... Read the full article
Coalition adds Allianz CEO Bäte to Board
28th November 2023
Active Insurance provider, Coalition, has appointed Oliver Bäte, the Chief Executive Officer (CEO) of global insurer Allianz SE, to its Board of Directors. Joshua Motta, Coalition’s Chief Executive Officer and Co-founder, commented on the addition: "We’re thrilled to have Oliver join Coalition’s Board as it’s a testament to his commitment to ... Read the full article
Coalition expands Northern UK presence with key underwriting hire
13th November 2023
Coalition has announced that it has appointed Gareth Machin as its first Manchester-based underwriter in the UK. Machin's appointment comes as part of the company's ongoing drive to provide regional support for brokers in addition to its London headquarters. Machin, a former senior professional indemnity (PI) underwriter with Allianz, has joined Coalition ... Read the full article
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