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Jul 31
Coalition Now Admitted in Connecticut: Big "I" Markets' Cyber Partner

​Cyber threat is a daunting risk facing small and midsized businesses today. Your clients may think their businesses are too small to be impacted, but the scary truth is that 43% of all cyberattacks target small businesses​. Unfortunately, the state of the cyber world is that nothing is or will ever be 100% secure and no one can defend themselves 100% of the time. The time has arrived that cyber risk management is a must for all organizations, no matter their size.

This is why Big "I" Markets has partnered with Coalition. We believe Coalition is a powerful ally for Big "I" Markets agents in the cybersecurity battle.  Coalition is now admitted in 31 states, including Connecticut.  You can offer your commercial risks access to world-class cybersecurity services to help mitigate risk, and tailored insurance products to protect in the event of a breach.  

Why is Coalition such a different cyber insurer? Coalition was founded by a team of leading cybersecurity experts. After working in the field, developing tools and strategies to fight cyber-crime, it was clear insurance needed to be a part of the solution. They built Coalition to solve cyber risk by mitigating cyber threats, with comprehensive insurance coverage and free cyber security apps.

With Coalition, you're putting all the cybersecurity power in your clients' hands, including benefits such as:

1.      Underwriting Engine: Coalition scans publicly available information, collecting tens of thousands of signals and correlating this to insuring agreements selected. This all happens in seconds to ensure an efficient process where you can rate, quote, bind, and obtain a policy in under 4 minutes! This scan of externally observable data provides an objective, evidence-based assessment of the applicant's cyber risk and overall security preparedness in the form of a FREE Cyber Risk Assessment. Coalition's dedicated security team is available to provide additional context and to help policyholders implement security and loss controls, all at no additional cost!

2.      Comprehensive Coverages: Coalition offers broad coverages including multimedia content liability, contingent business interruption, computer replacement, and pollution. Coalition also pays on behalf of the insured for important coverages such as Cyber Extortion, Funds Transfer Fraud and PCI Fines/Penalties.  There are a variety of unique coverages including Coalition's Breach Response Separate Limits Endorsement, which provides additional coverage for breach response costs by moving these costs outside of the aggregate limit.

3.      Risk Management Tools: Coalition's cyber risk management platform provides automated security alerts, threat intelligence, ongoing monitoring and expert guidance, among other tools all available at no additional cost! Policyholders can also take advantage of the FREE Security Awareness Training for the first 15 employees.

4.      Claims Approach: From pre-breach support to incident containment and recovery, Coalition's insurance and security experts are there to help. In the event of a breach, Coalition's cyber team is in place for rapid response to mitigate risk. Coalition's assisted claims mitigation services are offered on all quotes, outside the limits and with $0 retention!

To learn more about Coalition's mission to “solve cyber risk," and begin quoting your commercial clients today, log into www.bigimarkets.com and select “Cyber Insurance - Coalition" from the commercial products menu. If quoting more than 50 risks, take advantage of the Bulk Quote Template located in the Product Resources section.

Reach out to Big “I" Markets' Cyber Insurance Program Manager, Carla McGee, carla.mcgee@iiaba.net, if you have any questions or would like her to walk you through a quote!

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