Reinsurance News
Coalition
Coalition launches Active Cyber Insurance in Australia
6th November 2023
Coalition has introduced its suite of Active Cyber Insurance products in Australia. This insurance offering is designed to go beyond risk transfer, actively assisting organisations in understanding their cyber risk profiles, enhancing their cybersecurity defenses, and proactively preventing future cyberattacks, the company said. In recent years, Australia has witnessed numerous high-profile cyber ... Read the full article
Coalition’s Executive Risks Insurance now available on surplus lines paper
9th October 2023
Coalition’s comprehensive Executive Risks Insurance products are now available on surplus lines paper, making comprehensive management liability coverage available to a wider range of businesses. The cyber insurance provider now offers Executive Risks Insurance - including Directors & Officers Liability (D&O), Employment Practices Liability (EPL), Fiduciary Liability, and Crime Insurance - ... Read the full article
Coalition & MS&AD partner up to provide cybersecurity insurance solutions in Japan
4th October 2023
Coalition, a pioneering Active Insurance provider, has entered into a strategic partnership with MS&AD Insurance Group, the largest non-life insurer in Japan and across the ASEAN region, to provide cybersecurity monitoring solutions to small and medium-sized businesses (SMBs). Recently, MS&AD Insurance Group launched the MS&AD Cyber Risk Finder, the company's very ... Read the full article
Coalition partners with HDI Global Specialty to expand cyber insurance in Canada
28th September 2023
Coalition, a pioneering Active Insurance provider focused on preemptively mitigating digital risks, has unveiled a strategic long-term partnership with HDI Global Specialty SE. As the specialty insurance arm of HDI Global SE, a renowned insurer, HDI Global Specialty SE is set to make significant inroads into the Canadian cyber insurance market ... Read the full article
Coalition’s mid-2023 report shows 12% rise in cyber claims due to ransomware & fraud
21st September 2023
In its "2023 Cyber Claims Report: Mid-year Update," Coalition, a leading Active Insurance provider for digital risk prevention, reveals a concerning 12% increase in cyber claims during the first half of 2023, driven by rising ransomware attacks and funds transfer fraud. The Mid-year Update underscores the broadening impact of cyber threats, ... Read the full article
MS Amlin’s John Wynne Davies joins Coalition’s Special Projects team
22nd August 2023
Cyber insurance provider, Coalition has announced that John Wynne Davies has joined the company as its first Special Projects Lead in the UK. Having previously served as MS Amlin’s Strategy Manager for Lloyd’s, in his new role, Wynne Davies will be responsible for developing and implementing Coalition’s strategy in the UK, which ... Read the full article
Coalition unveils vulnerability scoring system designed to mitigate cyber threats
15th June 2023
Cyber insurance provider Coalition, has unveiled the Coalition Exploit Scoring System (Coalition ESS), a vulnerability scoring system designed to help risk managers mitigate potential cyber threats. Developed by Coalition Security Labs - the firm's research and innovation center - Coalition ESS is a security risk prioritization scoring system that leverages real-time ... Read the full article
Vulnerable organisations 33% more likely to experience cyber claims: Coalition
18th May 2023
Policyholders with even one unresolved critical vulnerability are 33% more likely to experience a cyber claim, according to a recent report by cyber insurance provider Coalition. The 2023 edition of the Cyber Claims Report also confirmed human error or inaction as the top exploited attack vector, with organisations using end-of-life software ... Read the full article
Coalition names John Coletti as head of Cyber Underwriting
15th May 2023
Cyber insurance provider Coalition announced the appointment of John Coletti as the Head of Cyber Underwriting. Coletti brings with him a wealth of experience from his previous role as the Head of Cyber Reinsurance at Swiss Re, one of the world's largest reinsurers. He held various other senior underwriting roles in AXA ... Read the full article
Coalition launches next generation Cyber Risk Management Platform
2nd May 2023
Cyber insurance provider Coalition has launched the next generation of its cyber risk management platform, Coalition Control. The platform combines cyber risk monitoring, assessment, and quantification tools with third-party risk management and AI-powered assistance to provide unparalleled risk management capabilities to organizations of all sizes. "Releasing the next generation of Coalition Control ... Read the full article
Coalition launches generative AI for brokers and businesses
11th April 2023
CoalitionAI™, a new initiative to deploy generative AI and large language models to help brokers and businesses protect themselves from cyber risk, has been launched by Coalition. The new features released today use a combination of proprietary technology, large language modeling, and generative pre-trained transformers. The insurer plans to introduce additional AI ... Read the full article
Coalition releases new method for modelling aggregate cyber risk
22nd March 2023
Cyber insurance provider Coalition has released its new Active Cyber Risk Model, a framework for understanding cyber risk aggregation that provides an ongoing view into organisations’ cyber risks and identifies preventive measures to protect against new threats. The Active Cyber Risk Model, which offers a more accurate picture of cyber risk ... Read the full article
Coalition enters excess cyber insurance market in UK
14th March 2023
Cyber insurance provider Coalition is set to enter the excess cyber insurance market in the United Kingdom, to help protect businesses with enhanced coverage. By doing this, the firm will be able to help more businesses obtain the coverage they need to protect themselves from digital risks. The firm has confirmed that ... Read the full article
Cyber attack surface widened by new ways of working, says Coalition
6th March 2023
London decoy computers were attacked 91 million times in January, of which 77 million were attempts to hack into remote desktop connections used by employees working out of office, according to new data from cyber insurer Coalition. Computers specially configured to make cyber criminals think they were small businesses operating in ... Read the full article
Coalition cyber protection now available to large enterprise businesses in US
20th February 2023
Cyber insurance provider Coalition has announced the expansion of its cybersecurity insurance offering in the US to large enterprise businesses with revenues up to $5 billion. Coalition states that typically, enterprise businesses have a stronger cybersecurity posture than smaller organisations due to available resources, but they also have a much larger ... Read the full article
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