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December 14, 2021

Coalition eyes cyber insurance growth via captive launch 

US-based commercial insurtech provider Coalition has disclosed plans to launch a new captive to begin taking risks on its cyber insurance programs.

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Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
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The new captive is aimed at enhancing Coalition’s ability to manage capacity and its growth objectives.

Dovid Tkatch will support the development of the new unit and oversee pricing, reserving, capital requirements, and regulatory compliance.

Coalition recently appointed Tkatch as the head of insurance infrastructure and actuarial science.

Coalition head of insurance Shawn Ram said: “Today’s announcement demonstrates our unwavering commitment to protecting businesses from cyber risk, and our confidence in Coalition’s approach to underwriting and risk management.

“With our new captive, we add another layer of security and stability, and more closely align our financial incentives with our customers.”

With backing from insurers such as Swiss Re, Zurich North America and Arch Insurance, Coalition offers businesses up to $15m of cyber and technology insurance coverage in the US.

Coalition stated that its broker platform integrates security, financial, regulatory, and transactional data to generate bindable quotes in ‘five minutes’.

Coalition’s announcement follows its $205m Series E funding round at a valuation of $3.5bn.

In May this year, the insurer launched an integrated platform for managing risk with free attack surface monitoring and cyber risk assessment.

Last week, Italian insurer Generali joined forces with Accenture, Vodafone on a cyber insurance offering for corporate and SME customers.

Free Whitepaper
img

Never Trust, Always Verify: Is Zero Trust the Next Big Thing in Cybersecurity?

Cyberattacks continue to rise every year and no sector seems to be immune. Hackers target sensitive information such as organizational, client, and financial data, as well as intellectual property (IP) and proprietary functions. As digital transformation becomes a top priority for many organizations, traditional perimeter-based security models are no longer sufficient to address the growing cybersecurity concerns. Against the backdrop, enterprises explore zero trust as it takes a micro-level approach to authenticate and approve access at every point within a network. Reasons to read: The cybersecurity landscape is swiftly changing, and businesses need more awareness to meet the evolving change. The report highlights the current state of play and the future potential of the zero trust approach in cybersecurity to protect critical digital infrastructure of enterprises across sectors such as financial services, healthcare, telecom, and transportation, among others. Read our report and gather insights on the following topics:
  • Traditional vs zero trust protection
  • Key advantages and solution providers
  • Major industries and key players
  • Drivers and challenges
  • Top funded startups and Mergers & Acquisitions
  • Implementation challenges
by GlobalData
Enter your details here to receive your free Whitepaper.

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