Cyber insurance in the Asia-Pacific (APAC) region is expanding rapidly as businesses confront increasing threats from cyberattacks and data breaches. As digital transformation accelerates across industries, companies of all sizes become more vulnerable to risks like ransomware, phishing, and malware. Coalition has announced a multi-year capacity agreement with Mitsui Sumitomo Insurance Co., Ltd. (MSI), part of the MS&AD Insurance Group. Starting January 1, 2025, MSI will take on a share of Coalition’s Active Cyber Insurance Program in Australia. This partnership builds on their existing collaboration focused on providing cybersecurity solutions to small and medium-sized enterprises (SMEs) in Japan and is set to strengthen cyber insurance coverage for businesses in Australia.
Sam Weaver, Coalition’s Australian General Manager, stated that the partnership with MSI will help expand Coalition’s presence in the Asia-Pacific region and provide better coverage for policyholders seeking cyber insurance in Australia.
“Cyber Insurance Solutions”
Tomoyuki Komagome, General Manager of MSI’s Australian branch, highlighted the importance of this agreement in supporting Australian SMEs with cyber insurance solutions. He emphasized the combination of MSI’s regional experience and Coalition’s technology-driven approach in enhancing business resilience through cyber insurance in Australia. “This collaboration underscores our commitment to supporting SMEs in Australia with comprehensive cyber insurance solutions. We’re thrilled to enter the Australian cyber insurance market with Coalition,” said Komagome.
Clemens Philippi, CEO of MSIG Asia, noted that this partnership could serve as a model for future expansion across the Asia-Pacific region. By working together, Coalition and MSI aim to strengthen cyber insurance offerings and help businesses manage digital risks.
Since its launch in Australia in November 2023, Coalition has provided its Active Insurance model to over 1,400 policyholders, supporting SMEs in improving their cyber resilience. This new partnership with MSI marks another step in expanding cyber insurance in Australia.
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