Coalition, the world’s first active insurance provider, has announced the expansion of its cyber insurance offering to large enterprise businesses in Canada, excluding the province of Quebec.
This expansion caters to businesses with revenues of up to CAD 5bn, aiming to provide comprehensive protection against cyber threats.
The introduction of cyber insurance for large enterprises in Canada reflects Coalition’s commitment to addressing evolving digital risks faced by businesses of varying sizes.
With the increased attack surface and cyber exposures of large businesses, Coalition’s active insurance model offers proactive protection through a range of integrated cyber defence measures.
Coalition Insurance Solutions Canada, Inc. (CIS Canada) ensures that each policy includes onboarding calls with experts, tabletop exercises to guide policyholders on incident response and recovery, and dedicated security services through Coalition’s affiliate, Coalition Incident Response.
This expansion of underwriting appetite aligns with Coalition’s mission to provide tailored insurance solutions that address the specific needs of businesses.
By syndicating placements across existing partners, Coalition aims to offer enhanced cyber coverage to a broader range of customers, providing brokers with new opportunities to serve their clients.
Kelly McGuinness, Coalition’s Team Lead Canada, Production Underwriting and Eastern Business Development, stated, “This expansion to enterprise-sized businesses means Coalition can offer all the benefits of Active Insurance to customers with much larger attack surface to defend and, therefore, greater cyber exposures. Now, large Canadian businesses can gain access to Coalition’s first integrated cyber defence that brings together active cyber risk assessment, proactive protection against cyber threats, expert response, and comprehensive cyber coverage.”
Copyright © 2024 InsurTech Analyst
