Coalition is among the pure play-leaders in the cyber insurance sector, touting its “Active Insurance,” which fuses insurance with cybersecurity tools to reduce client (and underwriting) risk. Earlier this year the company launched its full-stack carrier, the Coalition Insurance Company (CIC). From its new release: “(CIC) is now open for quoting Coalition’s admitted cyber product across the entire United States and the District of Columbia.”
The company says its CIC coverage is backstopped “by a panel of reinsurance carriers,” another sign of the rapidly growing role of reinsurers in the cyber liability insurance sector.
“CIC, the U.S. admitted carrier wholly owned by Coalition, Inc., was the first monoline cyber writer to achieve an A- (Excellent) Financial Strength Rating from AM Best in January 2023, a rating which was recently affirmed on March 28, 2024, noting the outlook of the rating is stable. The rating reflects CIC’s balance sheet strength, which AM Best assesses as very strong,” according to the release.