Coalition launches £20m enterprise cyber cover in UK

Coalition has launched a new cyber insurance proposition that offers up to £20m in cover for large UK organisations.

The product, called active cyber insurance for enterprises, combines cyber insurance with real-time risk insights and loss prevention services, targeting the complex cyber risks faced by larger businesses.

It uses Coalition’s real-time internet monitoring and artificial intelligence (AI)-powered risk models to provide businesses with information about emerging threats and their own cyber security posture.

The launch follows the expansion of Coalition’s relationship with Allianz Commercial, which provides the AA rated capacity and global network supporting the proposition.

Shawn Ram, chief revenue officer at Coalition, said the enterprise product was designed to address the changing cyber threat landscape.

“As AI amplifies attack sophistication, third party dependencies expand attack surfaces and regulatory requirements tighten worldwide, enterprises need confidence that they can withstand digital threats no matter how they evolve,” he said.

International expansion

The company has also appointed Nepomuk Loesti as head of international, where he will oversee its portfolio outside North America, including overseeing all existing international teams. 

Loesti joins from AJ Gallagher Global Broking Europe, where he was chief commercial officer. He previously spent 17 years at AIG in international insurance management and underwriting roles.

Commenting on his appointment, he said: “I’m joining Coalition at a pivotal time for the company and I’m thrilled to lead Coalition’s continued global expansion, as well as build upon our existing international presence.”

Coalition said its active cyber insurance proposition has more than 110,000 policyholders globally and handles more than 4,000 claims annually.