Cyber insurance and security company Coalition has revealed that it will enter the excess cyber insurance market in Canada.
The company will extend its offering beyond primary insurance coverage, providing brokers with excess cyber liability and technology errors & omissions insurance for accounts with up to $5 million in aggregate limits, for companies with up to $1 billion in revenue.
A release said that Coalition’s new excess capacity is backed by the financial security of Arch Insurance Canada, which has an A.M. Best rating of “A+” (Superior).
Arch Insurance Canada was awarded as The Top Claims Insurers in Canada. Read the 5-Star Claims report here.
Ram added that as the broader cyber marketplace continues to harden, Coalition is “looking for new ways to expand its reach,” by maintaining its growth in both the US and Canada markets.
Coalition first launched in Canada in May 2020 serving companies with up to $1 billion in annual revenue. The insurer offers up to $20 million of comprehensive insurance coverage, supported by the financial strength of both Swiss Re Corporate Solutions and Arch Capital Group.
