Coalition expands coverage to Canada-based companies

San Francisco-based risk management and cyber risk startup Coalition announced it is expanding its offering to Canada-based companies.

Coalition will offer up to CAD $20 million of comprehensive insurance coverage supported by the financial strength of Swiss Re to companies with up to CAD $1 billion in annual revenue. Through Coalition’s online platform, licensed insurance brokers are able to generate a quote in minutes and also provide their clients with access to Coalition’s proprietary cybersecurity tools and services that are designed to detect, mitigate, and contain threats at no additional cost.

“Cyber risk is a global problem in need of a global solution,” said Shawn Ram , Head of Insurance at Coalition. “The future of cyber security and insurance are integrated solutions to protect against cyber incidents across all asset types. We’re excited to make this future a reality across the Canadian market.”

Coalition’s approach to cyber insurance is rooted in risk management and mitigation, bringing together cybersecurity expertise with the safety of insurance to provide the first truly holistic approach to solve cyber risk:

• Risk mitigation: Coalition provides free cybersecurity tools to help businesses manage and mitigate cyber risk, and comprehensive cyber insurance to help them recover after an incident. Coalition’s comprehensive solution helps companies improve their cybersecurity, mitigate incidents when they occur, and help companies recover financially in the aftermath.
• Superior claims handling and incident response: all policyholders receive 24/7/365 access to Coalition’s in-house team of security and incident response experts. Together with hand-picked partner firms (including public relations, legal, and crisis management experts), Coalition stands ready to help organizations quickly recover from a cyber incident.
• Aligned incentives: Coalition is changing the paradigm in cybersecurity by aligning economic incentives with its customers. Unlike a traditional cybersecurity company, Coalition shares its customer’s incentives to prevent and mitigate losses.

“Coalition is more than just an insurance solution,” said Joshua Motta , CEO of Coalition. “Our expansion into Canada will give us greater visibility into cyber losses, and even more resources to combat cybercrime, on a global basis.”