Cyber MGA Coalition offering cover in Australia

Coalition Inc., a managing general agent specializing in cyber risk, said Monday it has launched its coverage in Australia.

The coverage is backed by a multiyear capacity agreement with Allianz Australia Insurance Ltd., the San Francisco-based MGA said. Allianz already provides capacity for Coalition’s cyber programs in the U.S. and United Kingdom.

Coalition’s cyber and tech errors and omissions coverages will be available on a primary basis to businesses in Australia with up to $2 billion in turnover and no minimum premium.

Only 20% of Australian small and mid-sized enterprises currently have cyber insurance and even fewer brokers specialize in the coverage area, Joshua Motta, Coalition’s CEO and co-founder, said in a statement.

Australia is Coalition’s fourth global market. It launched in the U.K. last year, Canada in 2020 and in the U.S. in 2018.