Carrier Secures A.M. Best Rating of A-; Signifies Coalition’s Evolution into a Full-Stack Insurance Organization
Coalition, the world’s first Active Insurance provider designed to prevent digital risk before it strikes, announced the launch of Coalition Insurance Company (CIC), the first full-stack, Active Cyber Insurance carrier. The launch of CIC, which recently received an A- rating from A.M. Best, is a major milestone for Coalition with the expansion of its available capacity in the cyber insurance market and transition to a full-stack insurance organization.
“The launch of Coalition Insurance Company marks a critical step in our company’s mission to protect the unprotected,” said Joshua Motta, cofounder and CEO of Coalition. “Cyber risk exists for any business—regardless of size or industry. With our own carrier, we can innovate faster to protect the broadest set of businesses from emerging cyber threats and make cyber insurance more accessible to small businesses who need it most.”
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CIC, backed by Coalition’s Active Insurance platform, will unlock new growth opportunities for insurance brokers, enabling them to secure cyber protection for a broader range of clients and provide coverage to meet specific client needs. All CIC insurance policies will include robust cyber protection for small and midsize businesses (SMBs) that often lack the tools and resources to mitigate cyber risks.
Coalition Insurance Company will begin quoting its admitted cyber product in many states starting March 2023, with a national roll-out expected throughout 2023.
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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.
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