Coalition, the world’s first active insurance provider, has rolled out a new Miscellaneous Professional Liability (MPL) Insurance offering.
This coverage has been launched to shield businesses from the repercussions of potential errors and omissions in professional services.
Coalition’s MPL Insurance is an endorsement available for Active Cyber Insurance policies, offering comprehensive coverage for defence costs, settlements, judgments, and other expenses related to claims.
The Active Risk Platform offers automated security alerts, threat intelligence, expert guidance, and cybersecurity tools, empowering businesses to navigate and withstand cyber threats effectively.
The product targets a wide range of industries, providing a proactive solution to the rising need for protection against professional liability.
The streamlined Active Risk Assessment offered by Coalition simplifies the process of securing Cyber and MPL Insurance coverages.
With just around ten supplementary data points required for an endorsement quote, brokers can efficiently add MPL to existing Coalition Cyber Insurance quotes. This offers clients a cost-effective and convenient way to enhance their cyber coverage with MPL protection.
“The professional services industry is rapidly expanding – projected to grow more than 6% over the next four years – because it plays a critical role in almost every type of business,” said Shawn Ram, Coalition’s Head of Insurance. “It’s so important for these organisations that are embedded in the fabric of the business ecosystem to be protected against liability associated with committing errors and omissions.”
“Instead of going to multiple insurers or working with multiple underwriters, brokers can come to Coalition for quotes for Cyber and MPL coverage. It can be incredibly difficult to manage claims that involve Cyber and MPL coverages with separate carriers. By providing both coverages, brokers and insureds can manage their policies – and any claims that occur – in one place, making the process of getting business back up and running as smooth as possible,” he continued.
Coalition is a pioneer in the Active Insurance industry, designing solutions to proactively manage and mitigate digital risks.
Operating in the U.S., the U.K., Canada, and Australia, Coalition combines comprehensive insurance coverage with cutting-edge cybersecurity tools.
The company’s global workforce, headquartered in San Francisco, collaborates digitally and in office hubs to deliver innovative solutions and ensure businesses remain resilient against cyber threats.
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