Coalition Makes Cyber Risk Assessment Tool Available for Free to Small, Midsize Firms

Coalition, a cyber insurance company for small and midsize businesses, has launched a free, publicly available cybersecurity and risk assessment tool that assesses the expected probability and severity of a security incident for a company.

Using Coalition’s proprietary underwriting platform and claims data, the Cyber Risk Assessment evaluates an organization’s cybersecurity standing relative to other Coalition policyholders, and provides steps for companies to reduce their risk. The assessment alerts companies about critical software vulnerabilities, exposed databases and infrastructure, malware infections, and lookalike domain registrations, and provides tailored security recommendations to prevent ransomware, data breaches, and social engineering attacks, among other features. Coalition said policyholders taking these proactive steps experience less than half the frequency of cyber insurance claims as the overall market, per data from the NAIC.

Coalition’s Cyber Risk Assessment also includes a ranking that measures a company’s likelihood of a cyber incident based on its similarity to companies having previously filed a cyber insurance claim, along with actionable recommendations to lower the probability of criminal targeting and cybersecurity failures.

To get a personalized Cyber Risk Assessment, a company provides their business email, company name, and industry, and the assessment is generated automatically and sent to their business email. Companies are not required to register or create an account, but are required to provide an email address with the domain name to be scanned as a security precaution to ensure that users can only scan domains with which they are associated. Once the necessary information is entered into the tool, a risk assessment is typically sent to the individual’s email in under one minute.

Coalition combines insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by A+/A rated insurers Swiss Re Corporate Solutions, Lloyd’s of London, and Argo Group, Coalition provides companies with up to $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Coalition is headquartered in San Francisco.