Coalition has launched its Active Cyber Insurance product in the Nordic region through its subsidiary, Coalition Insurance Solutions.
The offering is now available in Denmark and will be introduced in Sweden on 8 May, the company said.
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The offering is available on a primary basis to businesses with revenues of up to DKr7.5bn in Denmark and Skr11bn in Sweden, with no minimum premium requirement.
The insurance products are underwritten with capacity provided by Allianz Commercial under a multi-year agreement.
Allianz’s existing cyber insurance offering will remain available without changes.
Allianz Commercial Nordics managing director Margaretha Mo said: “We are now complementing our established cyber product for complex risks of all kinds and multinational requirements with Coalition’s offering.
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By GlobalData“This allows us to support our customers in Denmark and Sweden even further in managing their cyber risks, quickly identifying damages, and ideally even preventing them altogether.”
Coalition supplies training materials to support brokers in communicating cyber risk considerations to clients.
Its cyber risk management platform, Coalition Control, issues alerts to policyholders concerning system vulnerabilities and potential cyber threats.
Coalition Continental Europe head of insurance Tine Simonsen said: “Businesses within the Nordics will benefit from access to an offering that combines comprehensive insurance with meaningful cybersecurity insights and tools to help them manage and mitigate cyber threats.
“As cyber threats grow exponentially globally, preventing digital risk before it strikes has never been more important, and with the entrance of Active Insurance in the region, Coalition aims to provide greater protection for all European businesses.”
Coalition Insurance Solutions, registered in Lyngby, Denmark, has appointed Jacob Bondorff Skræddergaard as head of business development for the Nordic region.
He was previously the head of Nordic business development at RiskPoint.
Last month, Coalition introduced a new surplus lines cyber insurance product in the US, named Coalition Active Cyber Policy.
