AM Best Affirms Coalition’s Admitted Insurance Carrier’s A- (Excellent) Rating

SAN FRANCISCO: Coalition, the world's first Active Insurance provider designed to prevent digital risk before it strikes, today announced that Coalition Insurance Company (CIC), the full-stack Active Cyber Insurance carrier, is now open for quoting Coalition’s admitted cyber product across the entire United States and the District of Columbia.

CIC, the U.S. admitted carrier wholly owned by Coalition, Inc., was the first monoline cyber writer to achieve an A- (Excellent) Financial Strength Rating from AM Best in January 2023, a rating which was recently affirmed on March 28, 2024, noting the outlook of the rating is stable. The rating reflects CIC’s balance sheet strength, which AM Best assesses as very strong.

“We are thrilled to now offer capacity through CIC across the entire U.S., transforming our ability to offer policyholders world-class, comprehensive cyber insurance products,” said Shawn Ram, Coalition’s Head of Insurance. “We continue to drive the industry forward with coverage developed from our unique expertise in cyber underwriting, insights into cyber risk management, knowledge of cyber threat trends, and cyber claims data.”

CIC offers broad primary admitted cyber coverage designed for small and midsize businesses. With an expanded base form and affirmative coverage for critical exposures, Coalition helps protect organizations from fast-moving cyber risks.

With CIC’s competitive rating model, Coalition-appointed brokers can secure admitted cyber coverage in the U.S. tailored to meet specific client needs nationwide. CIC policies also include access to Coalition’s flagship risk management platform, Coalition Control™.

Insurance products offered by CIC are reinsured by a panel of reinsurance carriers. CIC originally began quoting Coalition’s admitted cyber product in March 2023.

To learn more about Coalition Insurance Company, contact: help@coalitioninc.com. For the latest Best’s Credit Rating, access: www.ambest.com.

About Coalition

Coalition is the world's first Active Insurance provider designed to help prevent digital risk before it strikes. By combining comprehensive insurance coverage and cybersecurity tools, Coalition helps businesses manage and mitigate digital risks. Coalition offers its Active Insurance products in the U.S., the U.K., Canada, and Australia through relationships with leading global insurers and cyber capacity through its own carrier, Coalition Insurance Company. Coalition's Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses worldwide remain resilient against cyber attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates digitally and in office hubs.

CIC is a licensed insurance company with its principal place of business in New York, New York (license #23-25930). Insurance products offered through CIC may not be available in all states. All decisions regarding any insurance products referenced herein, including approval for coverage, premium, commission, and fees, will be made solely by CIC and its representatives. All insurance products are governed by the terms, conditions, limitations, and exclusions set forth in the applicable insurance policy. Please see a copy of your policy for the full terms, conditions, and exclusions. Copyright © 2024. All rights reserved. Coalition and the Coalition logo are trademarks of Coalition, Inc. or its affiliates.

Fonte: Business Wire