Coalition expands cyber insurance to larger enterprises in Canada

Coalition expands cyber insurance to larger enterprises in Canada | Insurance Business Canada

Cyber

Coalition expands cyber insurance to larger enterprises in Canada

Companies with $5 billion in revenues can access its offerings

Coalition, an Active Insurance provider, has announced it is offering its cyber insurance services to large enterprise businesses in Canada.

The expansion targets companies with revenues up to $5 billion. However, this expansion will not apply to businesses in Quebec.

In a media release, Coalition said its expanded underwriting capacity is now available in both primary and excess programs offered by CIS Canada, with the exception of Quebec.

This increased capacity to cover businesses above the former revenue cap of $1 billion is supported by a syndicated placement across its existing partners and aligns with Coalition’s strategic goals.

Large businesses can access several specialized services, including onboarding calls with experts designed to guide new policyholders, various tabletop exercises to prepare for and recover from cyber incidents, and dedicated security services through Coalition’s affiliate, Coalition Incident Response.

Kelly McGuinness, Coalition’s team lead for Canada in production underwriting and Eastern business development, said: “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 integrated cyber defense that brings together active cyber risk assessment, proactive protection against cyber threats, expert response, and comprehensive cyber coverage.”

For brokers, this expansion presents an enhanced opportunity to offer Coalition’s policies to a broader range of customers, the company added.

Coalition operates globally, extending its services to businesses in the US, the UK, Canada, and Australia, in partnership with leading global insurers and capacity providers.

Have something to say about this story? Leave a comment below.