Arch Insurance North America has become the latest carrier to provide capacity to Coalition’s cyber insurance programs.
The capacity from Arch Insurance adds to MGA Coalition’s roster of existing backers, which include Swiss Re Corporate Solutions, Lloyd’s syndicates and Argo Group.
The latest deal provides Coalition with multi-year capacity for its US and Canada cyber and technology errors and omissions insurance programs from AM Best A+ rated Arch Insurance North America.
Announcing the partnership, Arch said it will support the rapid expansion of Coalition, which over the past year has grown to over $150mn of run-rate gross written premium and serves more than 41,000 organisations.
Last year Coalition broadened its scope to include larger middle market clients, with the firm adding four underwriters to the team last month to facilitate the drive growth in the sector.
It also entered the excess cyber insurance market for middle market businesses in the US, offering up to $10mn in aggregate limits backed by Lloyd’s capacity.
Coalition provides companies with up to $15mn of cyber and technology insurance coverage in all 50 states and the District of Columbia, as well as C$20mn of coverage across nine provinces and three territories in Canada.
Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance and cyber security tools to help businesses remain resilient in the face of cyber attacks.
Headquartered in San Francisco, Coalition has operations in New York, Los Angeles, Chicago, Dallas, Washington DC, Miami, Atlanta, Denver, Austin, Vancouver and Toronto.
Arch’s chief strategy and innovation officer Jay Rajendra said: “Arch is committed to leveraging advanced analytics to change the way we understand risk and protect businesses. We’re excited to work with Coalition, which is using its data-driven approach to insure cyber risk.
“Their analytics-based approach and superior in-house cyber security services are compelling reasons for us to support their ongoing mission to solve cyber risk. Our partnership with Coalition is an excellent complement to Arch’s existing cyber insurance product offerings.”