Associated tags: USD, Intelligence, Risk management, CAD, Face, Insurance, Security, Coalition, Professional Services, Software, Data Management, Internet
Locations: INDIANA, GERMANY, JAPAN, AUSTRALIA, AUSTRALIA/OCEANIA, MCGILL, EUROPE, UNITED STATES, UNITED KINGDOM, NORTH AMERICA, CALIFORNIA, BEC
Retrieved on:
Wednesday, April 24, 2024
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Fortinet Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today published its 2024 Cyber Claims Report , which details emerging cyber trends and their impact on Coalition policyholders throughout 2023.
Key Points:
- Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today published its 2024 Cyber Claims Report , which details emerging cyber trends and their impact on Coalition policyholders throughout 2023.
- The report found that more than half (56%) of all 2023 claims were a result of funds transfer fraud (FTF) or business email compromise (BEC), highlighting the importance of email security as a critical aspect of cyber risk management.
- While these tools can help to reduce cyber risk, using some boundary devices can actually increase the likelihood of a cyber claim if they have known vulnerabilities.
- Download the full 2024 Cyber Claims Report from Coalition to learn more: https://info.coalitioninc.com/download-2024-cyber-claims-report.html .
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Microsoft,
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Risk Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced new integrations between Coalition Control , its cyber risk management platform, and cloud services providers, including Microsoft 365®, Google Workspace®, and Amazon Web Services®.
Key Points:
- Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced new integrations between Coalition Control , its cyber risk management platform, and cloud services providers, including Microsoft 365®, Google Workspace®, and Amazon Web Services®.
- Coalition policyholders and Control customers can now connect Coalition Control with cloud services to help them actively manage and improve their cybersecurity postures.
- “With these new integrations, we’re helping to remove some of the guesswork for businesses around the security controls of their cloud services.
- To enable cloud provider integrations in Coalition Control, customers and policyholders can visit: https://control.coalitioninc.com .
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AM Best Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced that Coalition Insurance Company (CIC), the full-stack Active Cyber Insurance carrier, is now open for quoting Coalition’s admitted cyber product across the entire United States and the District of Columbia.
Key Points:
- Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced that Coalition Insurance Company (CIC), the full-stack Active Cyber Insurance carrier, is now open for quoting Coalition’s admitted cyber product across the entire United States and the District of Columbia.
- “We are thrilled to now offer capacity through CIC across the entire U.S., transforming our ability to offer policyholders world-class, comprehensive cyber insurance products,” said Shawn Ram, Coalition’s Head of Insurance.
- With an expanded base form and affirmative coverage for critical exposures, Coalition helps protect organizations from fast-moving cyber risks.
- To learn more about Coalition Insurance Company, contact: [email protected] .
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Computer security,
Deepfake,
AI Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced it has added a new Affirmative Artificial Intelligence (AI) Endorsement to clarify what is covered by its U.S. Surplus and Canada Cyber Insurance policies.
Key Points:
- Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced it has added a new Affirmative Artificial Intelligence (AI) Endorsement to clarify what is covered by its U.S. Surplus and Canada Cyber Insurance policies.
- The new Affirmative AI Endorsement language also expands the trigger for a funds transfer fraud (FTF) event to include fraudulent instruction transmitted through the use of deepfakes or any other artificial intelligence technology.
- “Coalition is at the forefront of evolving cyber insurance coverage to address this ever-changing risk ecosystem.
- Coalition’s AI Endorsement can now be added to any U.S. Surplus and Canada Cyber Insurance policies.
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Policy Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced it has executed a new, multi-year capacity agreement with Aspen Specialty Insurance Company (Aspen) to deploy cyber insurance capacity in the U.S., beginning on or after April 1, 2024.
Key Points:
- Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced it has executed a new, multi-year capacity agreement with Aspen Specialty Insurance Company (Aspen) to deploy cyber insurance capacity in the U.S., beginning on or after April 1, 2024.
- We continue consolidating capacity in the market because of our industry-leading underwriting results and capabilities,” commented Shawn Ram, Head of Insurance at Coalition.
- This new agreement follows Aspen's existing support of Coalition in the U.K. and Canada.
- This agreement complements our evolving risk management program and services, and we’re excited to see how we can further enhance our insureds’ resilience to cyber risks by leveraging both our company’s combined technical expertise.”
The capacity deal between Coalition and Aspen was brokered by McGill & Partners.
Retrieved on:
Wednesday, February 21, 2024
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Microsoft Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today published its Cyber Threat Index 2024 , detailing insights on cybersecurity trends from 2023 and emerging threats businesses should be aware of in 2024.
Key Points:
- Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today published its Cyber Threat Index 2024 , detailing insights on cybersecurity trends from 2023 and emerging threats businesses should be aware of in 2024.
- According to the report, Coalition expects the total number of common vulnerabilities and exposures (CVEs) to increase by 25% in 2024 to 34,888 vulnerabilities, or roughly 2,900 per month.
- “New vulnerabilities are published at a rapid rate and growing.
- With an influx of new vulnerabilities, often sprouting via disparate flagging systems, the cyber risk ecosystem is hard to track.
Retrieved on:
Tuesday, January 30, 2024
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Organization Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced it now offers Miscellaneous Professional Liability (MPL) Insurance.
Key Points:
- Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced it now offers Miscellaneous Professional Liability (MPL) Insurance.
- This coverage helps protect against the impact of a claim that a business committed errors and omissions in performing a professional service.
- Coalition’s MPL Insurance coverage is available by endorsement to Active Cyber Insurance policies through existing capacity providers for a wide range of industries to cover defense costs, settlements, judgments, and other claims-related expenses.
- Brokers can save time by adding MPL to existing Coalition Cyber Insurance quotes and offer their clients a cost-efficient way to add MPL protection to their cyber coverage package.
Retrieved on:
Wednesday, November 29, 2023
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SpaceX,
Coalition Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced the appointment of Mr. Oliver Bäte, Chief Executive Officer of Allianz SE, to the company’s Board of Directors.
Key Points:
- Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced the appointment of Mr. Oliver Bäte, Chief Executive Officer of Allianz SE, to the company’s Board of Directors.
- View the full release here: https://www.businesswire.com/news/home/20231128438754/en/
“We’re thrilled to have Oliver join Coalition’s Board as it’s a testament to his commitment to technological innovation in insurance,” said Joshua Motta, Coalition’s Chief Executive Officer and co-founder.
- Prior to this, he served in a number of leadership positions at McKinsey & Company, including Director of the firm’s European insurance and asset management practice.
- “Today, businesses across the world are experiencing new types of risks, and our industry requires new thinking to address them,” commented Oliver Bäte, Chief Executive Officer of Allianz SE and new Coalition Board Member.
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Coalition Coalition , the world’s first Active Insurance provider designed to prevent digital risk before it strikes, today launched its suite of innovative Active Cyber Insurance products in Australia.
Key Points:
- Coalition , the world’s first Active Insurance provider designed to prevent digital risk before it strikes, today launched its suite of innovative Active Cyber Insurance products in Australia.
- Active Cyber Insurance is more than risk transfer; it’s a new type of insurance built for the digital age, as it works with organisations to help them understand their cyber risk profiles, improve their defences, and, ultimately, prevent future attacks.
- “We have observed the intense business need in Australia for access to a comprehensive solution like Active Cyber Insurance that can detect, assess, respond to, and, ultimately, prevent cyber risk.
- Allianz is a strategic partner of Coalition , also providing capacity for the company’s U.S. and U.K. cyber insurance programs.
Retrieved on:
Wednesday, October 4, 2023
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Coalition Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced 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).
Key Points:
- Coalition , the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced 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).
- MS&AD Insurance Group recently launched the MS&AD Cyber Risk Finder, its first cyber risk assessment service built using Coalition Control™, a risk management platform developed by Coalition.
- MS&AD Cyber Risk Finder is currently available to the entire Japanese SMB market.
- “Through our partnership with Coalition, we can offer cyber risk assessments and diagnostic services tailored for Japanese SMBs at a lower cost.
