Coterie Insurance has introduced cyber insurance to its platform through a partnership with Berkley Re Solutions and TransUnion. The new offering aims to provide small businesses with additional protection against the increasing risk of cyberattacks, which have reached record levels in 2023, according to the HIPAA Journal.
Berkley Re Solutions will supply custom risk management services, including fraud monitoring and identity protection, while TransUnion’s TruEmpower™ Cyberscout solution will assist businesses with incident response and forensics. Coterie’s platform now allows agents and brokers to add cyber insurance when creating policies, aiming to simplify the process for small business clients.
In a company announcement, Bobbie Collies, Chief Insurance Officer at Coterie, said, “Our agents and brokers have been asking for additional coverage as small businesses increasingly become targets for cybercriminals.”
Christopher Ellis, SVP of Berkley Re Solutions, said the partnership enhances protection options for small businesses, combining expertise to better serve agents and brokers. Cyberscout’s services include cyber claims management and crisis response, helping businesses manage the impact of cyber incidents and mitigate potential damage. “Our combined expertise, resources, and partnerships create a powerful offering that supports the needs of our partners and their clients,” said Ellis.
In addition to protection services, Cyberscout offers tools such as mobile notifications, a web portal with cybersecurity tips, and a “Business Security Self-Assessment” survey to help businesses identify potential security gaps.
This new offering aligns with Coterie Insurance’s broader goal of simplifying the insurance process for small businesses by leveraging technology and providing a more streamlined approach to obtaining coverage. The partnership with Berkley Re Solutions and TransUnion expands Coterie’s insurance options at a time when cyber risks are a growing concern for small businesses.
Source: Coterie Insurance Launched Cyber Coverage.
Other News: Coalition Launches Reinsurance Intermediary to Expand Cyber Reinsurance Offerings(Opens in a new browser tab).
Other News: