Cyber insurance-as-a-Service Provider Coalition Extends Product Offerings in North America

Leading US-based cyber insurance and IT security company Coalition is expanding its product offerings to Canada. During the pandemic, cybersecurity has become the go-to technology to safeguard business interests, even as ransomware attacks continue to haunt large-sized enterprises. Coalition will provide predictive proactive cybersecurity products and to keep businesses safe.

As part of its expansion roadmap, Coalition will offer up to CAD $20 million of comprehensive insurance coverage supported by the financial strength of Swiss Re (A.M. Best A+) to companies with up to CAD $1 billion in annual revenue.

Through Coalition’s online platform, licensed insurance brokers are able to generate a quote in minutes and also provide their clients with access to Coalition’s proprietary cybersecurity tools and services that are designed to detect, mitigate, and contain threats at no additional cost.

Why Avail of Cyber Insurance in Canada?

With growing IT demands for building agile frameworks, a majority of the companies are delaying their adherence to compliance and security standards. Even a minute of delay in security measures can result in cyber threats proliferating into deepest pockets of your business, sweeping out your data, reputation and digital assets in one stroke.

Thinking if you are in safe in the US and Canada– well, cyber threats know no boundaries.

Dark data marketplace is a thriving business, and the thieves are aware of the various technology used against their threats. Coalition, stays a step ahead of such malware attack groups, providing a wide range of new anti-threats to businesses irrespective of their location that are not well covered by traditional insurers.

At the time of this expansion, Joshua Motta, CEO of Coalition said, “Coalition is more than just an insurance solution. Our expansion into Canada will give us greater visibility into cyber losses, and even more resources to combat cybercrime, on a global basis.”

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What does the Coalition Expansion include?

Coalition is offering a unique approach to cyber insurance market. It brings together the art and science of risk management and mitigation, alongside claims handling and incident reporting techniques.

Coalition’s comprehensive solution helps companies improve their cybersecurity, mitigate incidents when they occur, and help companies recover financially in the aftermath.

The cyber insurance teams closely work with private firms providing services to public relations, legal, and crisis management experts).

Aligned incentives: Coalition is aligning economic incentives with its customers to blow away the redundancies and myths in the traditional insurance sector, that have only failed to safeguard companies against risks in the highly converged digitized marketplace.

Coalition’s global cybersecurity platform provides businesses the risk management support they need most, including help preventing incidents in the first place, and support during and after a crisis. With this expansion, Coalition is proud to advance its mission to solve cyber risk together with Canadian businesses by not only helping to prevent cyber attacks, but helping businesses survive them when they occur.

Shawn Ram, Head of Insurance at Coalition says —

“Cyber risk is a global problem in need of a global solution. The future of cybersecurity and insurance are integrated solutions to protect against cyber incidents across all asset types. We’re excited to make this future a reality across the Canadian market.”

(To share your cyber security insights with us, please write to sghosh@martechseries.com)