The Source for Cyber Insurance News, Insights and Data
The carrier, backed by Coalition’s active insurance platform, rolls out across the nation during 2023. It received an A- rating from AM Best at the end of January. Source: Coalition Launches Full-Stack Cyber Insurer for SMBs
“Founded in 2002, Positive (Positive Physicians Insurance Company) provides medical malpractice insurance coverage for physicians, medical staff, and medical groups. ‘Cyber Insurance is often an afterthought in the MPL space, with coverage only triggering when an adverse event occurs. But as digital risk increases and evolves, so must the coverage available for healthcare providers. Coalition … Read more
The cyber insurance industry needs reinsurance capital to keep growing. Coalition partnered with BDT Capital to form this independent Bermuda-based Class 3B reinsurer. “Joshua Motta, founder and CEO of Coalition, added, ‘The rapid growth of the cyber insurance industry has outpaced the supply of reinsurance capital. We’re excited for Ferian Re to bring alternative capital … Read more
“The result: Coalition gains a property and casualty insurer licensed in all 50 states. Financial terms of the deal were not disclosed… Shawn Ram, head of Insurance for Coalition, described the advantages to the acquisition of Digital Affect: ‘This strategic move empowers Coalition to expand the reach of our market leading active cyber insurance offering … Read more
“’Unfortunately, the adversarial community, the hacking community, they don’t care,’ (Coalition Head of Insurance Shawn Ram) added. ‘Companies may elect to provide less resources toward cyber-related security and controls. The opportunity for adversaries to take advantage of that increases, so what we have seen is an increased demand and increased desire for cybersecurity.’” Some investors … Read more