Active cyber insurance provider Coalition has announced the launch of its own full-stack insurance carrier, Coalition Insurance Company (CIC).
Rated A- by AM Best, CIC is backed by Alliance’s active insurance platform. The company explains that the carrier will allow brokers to secure cyber protection for a broad range of customers while providing coverage that meets specific customer needs. The principles published by the CIC will include robust cyber security for small and medium-sized businesses that lack the tools and resources to mitigate cyber risks.
“The launch of Coalition Insurance Company marks an important step in our company’s mission to protect the defenseless,” said Joshua Motta, Co-Founder and CEO of Coalition. “Any business has a cyber risk—regardless of size or industry. With our own carrier, we can quickly innovate to protect a wide range of businesses from emerging cyber threats and make cyber insurance accessible to small businesses that need it most.
From March 2023 CIC will start quoting its sanctioned internet product in many states, a liberation said. A national rollout is expected in the coming months.
last year, Alliance acquires digital casualty insurance company from Munich Rev Digital Partners US Holding Corporation. The acquisition allows Alliance to offer insurance policies through its own authorized insurance carrier.