American cyber insurance and security company Coalition has expanded its cyber Insurance and security offering to Canada.
The company will now provide Canada-based companies with proactive cybersecurity products and services, and cyber and technology error & omissions insurance to help keep businesses safe.
Additionally, the company will offer around CAD $20m of comprehensive insurance coverage, supported by the financial strength of Swiss Re, to companies with up to CAD $1bn annual revenue.
The licensed insurance brokers will able to generate a quote in minutes using Coalition’s online platform. It will also enable them to provide their clients with access to Coalition’s proprietary cybersecurity tools and services.
These tools are developed to detect, mitigate, and contain threats at no additional cost.
Coalition Insurance head Shawn Ram said: “Cyber risk is a global problem in need of a global solution. The future of cybersecurity and insurance are integrated solutions to protect against cyber incidents across all asset types. We’re excited to make this future a reality across the Canadian market.”
The company noted that its approach to cyber insurance is rooted in risk management and mitigation.
Free cybersecurity tools are offered by Coalition to help businesses manage and mitigate cyber risk. The comprehensive cyber insurance helps them to recover financially in the aftermath of an incident.
Coalition CEO Joshua Motta said: “Coalition is more than just an insurance solution. Our expansion into Canada will give us greater visibility into cyber losses, and even more resources to combat cybercrime, on a global basis.”