Coalition Re launched to provide active cyber reinsurance backed by Aspen-led capacity

Coalition, an active insurance provider focused on preventing digital risks before they occur, has launched Coalition Re, a reinsurance intermediary offering active cyber reinsurance through two products supported by Aspen-led capacity.

Coalition Re offers capacity for non-proportional cyber reinsurance treaties and a white-label cyber insurance product with up to 100% quota share for insurers seeking to add cyber coverage to existing products. Both products are available globally and are backed by a strong panel of capacity providers led by Aspen.

Shawn Ram, Head of Insurance at Coalition, highlighted, “In reinsurance, there is often a breakdown of information where reinsurers know less about policyholders than the primary insurers. Combine that with a lack of cyber expertise and proper data usage among reinsurers, and the result is inaccurately priced reinsurance contracts and a misconception around how to measure cyber accumulation exposure.”

He added, “Coalition Re is a new type of reinsurance provider whereby we equip carriers with deeper insights into the cyber risk in their books, which adds value far beyond simply adding capacity. By democratising Coalition’s industry-leading technology, we can better align interests with cedants and promote a more stable cyber reinsurance market.”

Coalition Re uses a bottom-up approach to accurately price non-proportional reinsurance contracts, providing primary insurers with better insights into their policyholders and portfolio risks. It also includes a comprehensive white-label product with risk mitigation tools and services, currently exclusive to Coalition’s Active Cyber Insurance policyholders.

Active Insurance supports policyholders before, during, and after a cyber incident, in contrast to traditional policies that lack risk mitigation and response features.

Ram continued, “Unlike other reinsurers, Coalition doesn’t rely on historical or third-party data. We have built a robust and innovative approach to cyber reinsurance underwriting, leveraging continuous, internet-wide data collection, AI-enabled threat detection, and real-world security and insurance expertise.

“This allowed us to build the reinsurance industry’s most comprehensive picture of the cyber risk landscape and will set Coalition Re apart from other reinsurers.”

Bobby Bianconi, Global Head of Cyber at Aspen, stated, “We are thrilled to partner with Coalition on this innovative reinsurance offering to bring clarity to the increasingly complex and critical risk of cyber.”

“We see a significant opportunity for this new capacity and the unique cyber risk insights that will complement the offer, with Coalition well-positioned to deliver these value-add services to cedants. We look forward to the continued work we will do with Coalition to bring market-leading cyber coverage to clients,” he concluded.

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