Cyber insurance and security provider Coalition, which is headquartered in San Francisco, has forayed into British territory.
“We aim to democratise cyber services and protection for UK businesses and help brokers show their clients the real value of active insurance,” said UK insurance head Tom Draper (pictured), who has joined Coalition’s newly opened London office alongside UK risk engineering head Stephen Wares.
“With our tech-enabled approach to underwriting, we offer brokers the ability to quote and bind in seconds. We assess each risk on its merits and profile during that time, not just industry standards. This speed of service, combined with sophisticated cyber protection and comprehensive insurance protection, is a powerful offer to the UK market.”
Launched in 2017 in the US, Coalition expanded into Canada in 2020 before entering the UK market this year. It specialises in active insurance for small and mid-size organisations, combining coverage with cybersecurity tools as well as digital forensics and incident response.
Serving more than 160,000 customers in North America, the business provides active cyber insurance, active executive risks insurance, property and casualty insurance, and cybersecurity. In Britain, Coalition will initially offer cyber coverage and free active monitoring and cyber response services through the broker channel.
The UK unit, which commenced trading on September 1, is backed by a multi-year capacity agreement with Allianz Global Corporate & Specialty.
