Arch Insurance North America and Coalition have formed a multi-year partnership to provide Coalition with long-term capacity for its U.S. and Canada Cyber and Technology Errors & Omissions insurance programs. The capacity will be available through Arch Insurance North America’s carriers.
The partnership with Arch will support Coalition, a provider of cyber insurance and security tools to help businesses manage and mitigate cyber risk, as it continues to grow. Over the past year, Coalition has grown to over $150 million of run-rate gross written premium (GWP) and serves more than 41,000 organizations. Coalition uses an analytics-based approach and in-house cyber security services in addressing cyber risk.
Jay Rajendra, Arch’s Chief Strategy and Innovation Officer, said the partnership with Coalition will complement Arch’s existing cyber insurance product offerings.
According to Joshua Motta, co-founder and CEO of Coalition, the company will work with Arch to develop new and advanced predictive analytics capabilities to improve its products.
Arch Insurance North America, part of Arch Capital Group Ltd., includes Arch’s insurance operations in the United States and Canada.
Coalition is backed by global insurers Swiss Re Corporate Solutions, Arch Capital Group Ltd., Lloyd’s of London, and Argo Group, providing companies with up to $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia, as well as CAD $20M of coverage across nine provinces and three territories in Canada. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, t guidance, and cybersecurity tools. Headquartered in San Francisco, Coalition has presences in New York, Los Angeles, Chicago, Dallas, Washington DC, Miami, Atlanta, Denver, Austin, Vancouver, and Toronto.
Was this article valuable?
Here are more articles you may enjoy.