San Francicso, CA (Sept. 19, 2019) \u2013 Coalition, the leading cyber insurance company for small and midsize businesses, has announced it has expanded its cyber and technology errors and omissions coverage \u2014 previously only available to companies with less than $250 million in revenue \u2014 to include middle market companies with up to $1 billion in annual revenue. With cyber crime-related losses expected to exceed more than $6 trillion globally in the coming years, middle market companies now have access to Coalition\u2019s cybersecurity tools as well as up to $15 million of comprehensive insurance coverage backed by Swiss Re Corporate Solutions and Lloyd\u2019s of London.<\/p>\n
According to a recent report, more than half<\/strong> of middle market companies have experienced a data breach, with many reporting losses of $1 million to $2.5 million<\/strong> as a result of the incident.[1<\/a>]<\/sup> Despite the rise in spending on cybersecurity technology, losses from data breaches and cyber crime continue to increase. Coalition\u2019s cyber insurance policies for middle market businesses come with a suite of enterprise-grade cybersecurity tools\u2014including 24\/7 security monitoring, anti-ransomware, employee security training, among others\u2014along with access to a dedicated security and incident response team, and comprehensive insurance coverage in the event of an incident. All services are included within the policy premium. With these measures in place, Coalition policyholders report half the number of claims as other businesses with cyber insurance according to data from the National Association of Insurance Commissioners.<\/p>\n \u201cBusinesses in the middle market, similar to small businesses, remain severely underinsured and can benefit from Coalition\u2019s novel approach to risk management,\u201d said Joshua Motta, Coalition\u2019s co-founder and CEO. \u201cWhile middle market companies have substantially greater resources than most small businesses, being 99 percent secure is still 100 percent vulnerable. Today, Coalition protects over 10,000 organizations so that they enjoy the same level of resilience as large enterprises.\u201d<\/p>\n Coalition aims to solve cyber risk for small and middle market organizations by democratizing access to cybersecurity tools that help them remain resilient in a world of dynamic and pervasive threats, along with a financial backstop in the event of a security failure. Coalition\u2019s approach is grounded in:<\/p>\n This offering is now available to middle market companies in the U.S.<\/p>\n 1. CISCO 2018 Cybersecurity Special Report: \u201cSmall and Mighty: How Small and Midmarket Businesses Can Fortify Their Defenses Against Today\u2019s Threats<\/a>\u201d (PDF). <\/p>\n About Coalition<\/b><\/p>\n Coalition, the cyber risk solution from Joshua Motta and John Hering, combines comprehensive insurance and cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by A+ rated insurers Swiss Re Corporate Solutions, Lloyd\u2019s of London, and Argo Group, Coalition provides companies with up to $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia. Coalition\u2019s cyber risk management platform provides 24\/7 security monitoring, employee training, threat intelligence, expert guidance, among other cybersecurity tools and services to help businesses remain compliant and resilient in the face of cyber attacks. Coalition is headquartered in San Francisco. For more information, visit www.thecoalition.com<\/a>.<\/p>\n SOURCE: Coalition<\/em><\/p>\n Tags: Cyber Insurance<\/a>, launch<\/a>, small business<\/a>, United States (USA)<\/a> Read the original article at Insurance-Canada.ca <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" More than half of middle market companies have experienced a cybersecurity failure despite a rise in spending on cybersecurity technology, and most are uninsured San Francicso, CA (Sept. 19, 2019) \u2013 Coalition, the leading...<\/p>\n","protected":false},"author":578,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/16879"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/578"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=16879"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/16879\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=16879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=16879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=16879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Notes<\/h4>\n