Carrier will target small businesses and brokers and is backed by Coalition’s Active Insurance platform
A US-based full-stack, active Cyber Insurance carrier - Coalition Insurance Company - has launched. The launch of CIC, which recently received an A- rating from AM Best, is a major milestone for parent Coalition, with the expansion of its available capacity in the cyber insurance market and transition to a full-stack insurance organisation.
“The launch of Coalition Insurance Company marks a critical step in our company’s mission to protect the unprotected,” said Joshua Motta, co-founder and CEO of Coalition.
“Cyber risk exists for any business—regardless of size or industry. With our own carrier, we can innovate faster to protect the broadest set of businesses from emerging cyber threats and make cyber insurance more accessible to small businesses who need it most.”
CIC is backed by Coalition’s Active Insurance platform, helping brokers secure cyber protection for a broader range of clients and provide coverage to meet specific client needs.
All CIC insurance policies will include cyber protection for small and midsize businesses (SMBs) that often lack the tools and resources to mitigate cyber risks.
Coalition Insurance Company will begin quoting its admitted cyber product in many states starting March 2023, with a national roll-out expected throughout 2023.