Coalition

Cyber Claims & Ransomware’s Share Dropped in 2022: Coalition’s 2023 Cyber Claims Report

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“(O)verall claims frequency decreased by 22% year-over-year. Furthermore, Coalition policyholders experienced 64% fewer claims than the broader cyber market1, with 47% of reported events handled with no cost to the policyholder A less-sophisticated crime, funds transfer fraud (FTF) unseated ransomware as the leading event type, accounting for nearly one-third of all claims. Notably, ransomware saw … Read more

Coalition Touts New AI Tools for Cyber Insurance 

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Interesting that the first announced application is for enhanced broker and customer service, versus direct cyber risk purposes. The InsurTech cyber insurance provider does note it’s working on AI-related cyber vulnerabilities. “’AI is already reshaping the cyber risk landscape,’ said Tiago Henriques, vice president of security research at Coalition. ‘While we are applying our AI … Read more

What’s the Worst Case for a Catastrophic Cyber Attack? Coalition Has Been Modeling It 

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“Built on Coalition’s proprietary data collection platform and knowledge graph, which captures 48 trillion monthly events, the Active Cyber Risk Model offers a more accurate picture of cyber risk for organizations and the broader economy. In a simulation modeled against a sampling of 5,000 American companies, Coalition found that a one-in-250-year cyber event could cost … Read more

Coalition Pursues Medical Market with Malpractice Insurance Provider 

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“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

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