Arch Insurance North America and Coalition have formed a multi-year partnership to provide Coalition with long-term capacity for its cyber and technology errors and omissions insurance programs in the United States and Canada. The capacity will be available from Arch Insurance North America carriers.
The partnership with Arch will support Coalition, a provider of cybersecurity and security tools to help businesses manage and mitigate cyber risk, as they grow. Over the past year, Coalition has grown to over $ 150 million in fixed rate gross written premiums (GWP) and serves over 41,000 organizations. Coalition uses an analytics-based approach and internal cybersecurity services to combat cyber risks.
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 advanced predictive analytics capabilities to improve its products.
Arch Insurance North America, part of Arch Capital Group Ltd., includes Arch’s insurance business 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 businesses with up to $ 15 million in cyber and tech insurance coverage in all 50 states and across the District of Columbia. such as C $ 20 million of coverage in nine provinces and three territories in Canada. Coalition’s Cyber Risk Management Platform provides automated security alerts, threat intelligence, cybersecurity tips and tools. Based in San Francisco, Coalition has presences in New York, Los Angeles, Chicago, Dallas, Washington DC, Miami, Atlanta, Denver, Austin, Vancouver and Toronto.
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