Coalition Insurance Company Now Quoting in All 50 U.S. States and D.C.
March 28 2024 - 1:17PM
Business Wire
AM Best Affirms Coalition’s Admitted Insurance
Carrier’s A- (Excellent) Rating
Coalition, the world's first Active Insurance provider designed
to prevent digital risk before it strikes, today announced that
Coalition Insurance Company (CIC), the full-stack Active Cyber
Insurance carrier, is now open for quoting Coalition’s admitted
cyber product across the entire United States and the District of
Columbia.
CIC, the U.S. admitted carrier wholly owned by Coalition, Inc.,
was the first monoline cyber writer to achieve an A- (Excellent)
Financial Strength Rating from AM Best in January 2023, a rating
which was recently affirmed on March 28, 2024, noting the outlook
of the rating is stable. The rating reflects CIC’s balance sheet
strength, which AM Best assesses as very strong.
“We are thrilled to now offer capacity through CIC across the
entire U.S., transforming our ability to offer policyholders
world-class, comprehensive cyber insurance products,” said Shawn
Ram, Coalition’s Head of Insurance. “We continue to drive the
industry forward with coverage developed from our unique expertise
in cyber underwriting, insights into cyber risk management,
knowledge of cyber threat trends, and cyber claims data.”
CIC offers broad primary admitted cyber coverage designed for
small and midsize businesses. With an expanded base form and
affirmative coverage for critical exposures, Coalition helps
protect organizations from fast-moving cyber risks.
With CIC’s competitive rating model, Coalition-appointed brokers
can secure admitted cyber coverage in the U.S. tailored to meet
specific client needs nationwide. CIC policies also include access
to Coalition’s flagship risk management platform, Coalition
Control™.
Insurance products offered by CIC are reinsured by a panel of
reinsurance carriers. CIC originally began quoting Coalition’s
admitted cyber product in March 2023.
To learn more about Coalition Insurance Company, contact:
help@coalitioninc.com. For the latest Best’s Credit Rating, access:
www.ambest.com.
About Coalition
Coalition is the world's first Active Insurance provider
designed to help prevent digital risk before it strikes. By
combining comprehensive insurance coverage and cybersecurity tools,
Coalition helps businesses manage and mitigate digital risks.
Coalition offers its Active Insurance products in the U.S., the
U.K., Canada, and Australia through relationships with leading
global insurers and cyber capacity through its own carrier,
Coalition Insurance Company. Coalition's Active Risk Platform
provides automated security alerts, threat intelligence, expert
guidance, and cybersecurity tools to help businesses worldwide
remain resilient against cyber attacks. Headquartered in San
Francisco, Coalition is a distributed company with a global
workforce that collaborates digitally and in office hubs.
CIC is a licensed insurance company with its principal place of
business in New York, New York (license #23-25930). Insurance
products offered through CIC may not be available in all states.
All decisions regarding any insurance products referenced herein,
including approval for coverage, premium, commission, and fees,
will be made solely by CIC and its representatives. All insurance
products are governed by the terms, conditions, limitations, and
exclusions set forth in the applicable insurance policy. Please see
a copy of your policy for the full terms, conditions, and
exclusions. Copyright © 2024. All rights reserved. Coalition and
the Coalition logo are trademarks of Coalition, Inc. or its
affiliates.
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Marisa Graves Communications at Coalition
press@coalitioninc.com