The firm will be distributing its products via UK brokers to the SME sector, according to a statement
Cyber insurance and security MGA Coalition has begun trading in the UK, effective 1 September 2022.
Coalition was launched in North America in 2017 and in Canada in 2020. Its headquarters are located in San Francisco.
In North America, Coalition services over 160,000 customers.
Now in the UK – backed by a multi-year capacity agreement with Allianz Global Corporate and Speciality – Coalition will distribute its products via brokers to the SME sector.
Its risk appetite encompasses firms up to £1bn turnover, the firm said in a statement.
Tom Draper, head of insurance at the MGA, said: “We aim to democratise cyber services and protection for UK businesses and help brokers show their clients the real value of Active Insurance.
“With our tech-enabled approach to underwriting, we offer brokers the ability to quote and bind in seconds.
“We assess each risk on its merits and profile during that time, not just industry standards.
“This speed of service, combined with sophisticated cyber protection and comprehensive insurance protection, is a powerful offer to the UK market.”
New London office
As part of the move, Coalition has opened an office in London with a new team.
Former MS Amlin principal cyber underwriter Stephen Wares has joined as head of risk engineering for the UK (May 2021) and former Gallagher technology and cyber practice leader Tom Draper was appointed as head of insurance for the UK (February 2022).
The business will expand the team over the Autumn, it said.
Coalition describes active insurance as a new approach to insurance that can help small and mid-size organisations manage cyber risk – combining cybersecurity tools, monitoring, digital forensics, incident response and broad insurance coverage.
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