The Source for Cyber Insurance News, Insights and Data
Coalition, the “Active Insurance” provider, has appointed Maha Virudhagiri as its first Chief Technology Officer (CTO). Virudhagiri, formerly with Tesla and Ancestry®, will oversee engineering, IT, infosec, data, and AI efforts to bolster Coalition’s global cybersecurity and insurance solutions. Joshua Motta, Coalition’s CEO, expressed his excitement: “We’re thrilled to have Maha join our team to … Read more
Investment Strengthens Global Cyber Insurance Reach Coalition, a cyber insurance provider, announced a $30 million equity investment from Mitsui Sumitomo Insurance Co., Ltd. (MSI), a part of MS&AD Insurance Group. This investment expands their strategic partnership. It aims to increase the global availability of Coalition’s Active Insurance model for companies seeking to reduce digital risk. … Read more
A recent survey by the UK Home Office reveals that half of UK businesses have experienced cyber security breaches or attacks in the past year, underscoring the escalating digital risks they face. Phishing remains the most prevalent threat, affecting 84% of businesses, while medium and large companies report even higher rates of cyber incidents. As … Read more
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 … Read more
In the rapidly evolving cyber threat landscape, the year 2024 has seen a dramatic increase in ransomware attack severity, according to Coalition’s newly released 2024 Cyber Claims Report: Mid-year Update. The report reveals that while the overall frequency of ransomware attacks decreased, the financial impact of each successful attack soared by 68%, with the average … Read more