The UK becomes a new market for a US cyber insurance company.
Orizu Ebube
Coalition, an insurance and security company with headquarters in San Francisco, has moved into the United Kingdom.
"We want to make cyber services and protection more accessible to UK businesses and help brokers show their customers the best the real value of active insurance," said UK insurance head Tom Draper, who joined Coalition's newly opened London office along with UK risk engineering head Stephen Wares.
"Because of the way we use technology to do underwriting, we can quote and bind in seconds. We don't just use industry standards to judge each risk. Instead, we look at its strengths and weaknesses during that time. This fast service, along with advanced cyber security and full insurance coverage, is a strong offer to the UK market.
Coalition was first released in the US in 2017. In 2020, it went to Canada, and this year, it came to the UK. It focuses on active insurance for small and medium-sized businesses, which includes cybersecurity tools, digital forensics, and incident response.
The business offers active cyber insurance, active executive risks insurance, property and casualty insurance, and cybersecurity to more than 160,000 customers in North America. Coalition will offer cyber coverage and free surveillance activities and cyber result in a system through brokers in Britain at first.
The UK unit started trading on September 1. It is backed by an agreement with Allianz Global Corporate Specialty that las
The UK unit started trading on September 1. It is backed by an agreement with Allianz Global Corporate Specialty that lasts for several years.
ts for several years.
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A good move