Coalition expands Active Cyber Insurance to Germany

Cyber insurance provider Coalition has launched its suite of Active Cyber Insurance products in Germany, through its subsidiary Coalition Insurance Solutions GmbH.

Coalition’s expansion comes as cyber-attacks and IT system breakdowns stand amongst the biggest threats impacting German businesses today.

Coalition’s Active Cyber Insurance offering is designed to help organisations spot, mitigate, and respond to emerging cyber threats. It also provides policyholders with access to cybersecurity tools that can help them better understand their risks, strengthen their defenses, and prevent future attacks.

Available as of today, the company will now be offering insurance products across Germany with capacity provided by Allianz Global Corporate & Specialty SE in a multi-year agreement.

Allianz, a strategic partner of Coalition, also contributes capacity for the company’s cyber insurance programs in the U.S., the UK, and Australia.

If you recall, Coalition launched its Active Cyber Insurance in Australia in November 2023.

It’s important to note, that Coalition’s Active Cyber Insurance is available to businesses with up to €1 billion in revenue on a primary basis, with no minimum premium requirement.

It has also been confirmed that Coalition’s Excess Cyber Insurance product is expected to be available in early 2025.

Joshua Motta, Coalition’s Chief Executive Officer and co-founder, commented on the launch: “German businesses are frequently targeted by cyber-attacks, forcing them to spend significant time and resources dealing with the aftermath. Active Cyber Insurance doesn’t just provide a safety net; it empowers businesses to actively defend against these cyber threats. We’re excited to expand this unique solution to Germany in our quest to protect more organizations worldwide.”

Martin Swider, Coalition’s Head of Business Development, Germany, said: “The German cyber insurance market faces significant challenges, including a shortage of skilled cyber experts, difficulties in calculating premiums, and a lack of data. Coalition’s data-driven approach to underwriting and risk management is well-suited to tackle these issues, helping brokers and their clients achieve comprehensive cyber coverage.”

Michael Furtschegger, Allianz Commercial’s Regional Managing Director, Germany & Switzerland, added: “As our Allianz Risk Barometer 2024 has shown again: cyber risks are among the biggest threats to companies worldwide. We are now complementing our established cyber product for complex risks of all kinds and multinational requirements with Coalition’s Active Insurance market offering. This enables us to provide our German customers with even better support in managing their cyber risks in a targeted manner, recognising losses quickly and, in the best case, avoiding them altogether.”

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