Reinsurance News
Coalition
AIG’s Simonsen joins Coalition as European Head of Insurance
3rd October 2024
Coalition, an active insurer focused on preventing digital risks, has appointed Tine Simonsen as its Head of Insurance for Continental Europe. Simonsen has nearly 14 years of experience as a specialist within the Financial Lines & Cyber Insurance segments, focusing on products such as Cyber Insurance, D&O Insurance, and Professional Indemnity. In ... Read the full article
Philip Cruickshank joins Coalition as Regional Underwriter for cyber risk prevention
11th September 2024
Coalition, the insurance provider focused on actively preventing digital risks, has appointed Philip Cruickshank as Regional Development Underwriter in Manchester. Stephen Wares, Coalition’s International Head of Underwriting, commented: “Philip is a major hire for our team in the North and a well-known industry figure in the region. "At Aon, where he was ... Read the full article
Coalition Re launched to provide active cyber reinsurance backed by Aspen-led capacity
9th September 2024
Coalition, an active insurance provider focused on preventing digital risks before they occur, has launched Coalition Re, a reinsurance intermediary offering active cyber reinsurance through two products supported by Aspen-led capacity. Coalition Re offers capacity for non-proportional cyber reinsurance treaties and a white-label cyber insurance product with up to 100% quota ... Read the full article
Fiona McMartin joins Coalition as Assistant Underwriter for active cyber insurance
29th August 2024
Coalition, an active insurance provider focused on preventing digital risks before they occur, has appointed Fiona McMartin as Associate Underwriter in its London office. McMartin launched her insurance career in 2022 through RSA’s graduate programme, where she initially served as a team leader in client services. She later transitioned to RSA’s cyber ... Read the full article
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
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