Allianz Australia has partnered with Coalition to provide a suite of specialised cyber products to the Australian market. These innovative products have proactive monitoring to help customers protect their business and prevent financial loss. Active Cyber Insurance is built for the digital age. It works with organisations to help them understand their cyber risk profiles, improve their defences, and, ultimately, help prevent future attacks. The product suite offers broad cyber coverage designed for digital risks, it’s offered globally and distributed through brokers.
Capacity for Coalition’s offering is provided by a multi-year agreement with Allianz Australia. Allianz is a strategic partner of Coalition, also providing capacity for the company’s U.S. and U.K. cyber insurance programs.
Coalition joins the One Allianz group of underwriting agencies, business partners, and distribution channels that are part of the Allianz ‘family.’ One Allianz enables our global brand to work alongside smaller, specialised players, to offer a wider range of coverage and expertise for customers.
"Cyber risk is a significant threat impacting Australian businesses today,” said Phuong Ly, Chief General Manager, Commercial, at Allianz Australia. “Allianz is proud to partner with Coalition and help provide our broker partners and their customers with this unique solution, which combines comprehensive insurance coverage and active security protection to help safeguard Australian businesses against future cyber-attacks.”
“The last months witnessed the continuation of growing cyber threats. Early detection and effective response capabilities will be key for our customers as threat actors continue to exploit vulnerabilities. In partnership with Coalition, our customers will be able to reinforce their cyber controls and resilience,” said Scott Sayce, Global Head of Cyber at Allianz Commercial.
Offering broad cyber insurance coverage
Coalition offers broad coverage as the standard and covers most industries. Some current providers present 20+ page applications, which makes it challenging for new buyers and small businesses to access and understand coverage. Coalition provides a streamlined and efficient quoting process with an end-to-end platform where brokers can generate bindable quotes in minutes. For brokers new to Coalition’s product offerings and seeking to learn how to better protect their clients, the company provides a library of training materials and resources to help advise on cyber risk.
Australian brokers can now sell Coalition Cyber Insurance and Tech E&O Insurance coverages on a primary basis to businesses with up to $2 billion in turnover and no minimum premium. Coalition’s Active Cyber Insurance offering is available for brokers to start quoting now. To learn more, visit Coalition or contact your Allianz representative.
About Coalition
Coalition is the world's first Active Insurance provider designed to help prevent digital risk before it strikes. By combining comprehensive insurance coverage and cybersecurity tools, Coalition helps businesses manage and mitigate digital risks. Coalition offers its Active Insurance products in the U.S., U.K., and Canada through relationships with leading global insurers, as well as cyber capacity through its own carrier, Coalition Insurance Company. Coalition's Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses worldwide remain resilient against cyber-attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates digitally and in office hubs.
Insurance cover is issued by Coalition Insurance Solutions Pty Ltd (“CIS AU”) (ABN 33 657 140 791, AFSL 539846) under a binding authority given by the insurer, Allianz Australia Insurance Limited (ABN 15 000 122 850, AFSL 234708). This information is of a general nature only and does not take into account any person's particular circumstances. All descriptions of coverage are subject to the terms, conditions, and exclusions of the individual policy. Before making a decision (or advising your client), please refer to the relevant policy wording or by contacting your broker. CIS AU may receive compensation from an insurer or other intermediary in connection with the sale of insurance cover. See disclaimers. Copyright © 2023. All rights reserved. Coalition and the Coalition logo are trademarks of Coalition, Inc.
This article has been prepared by Allianz Australia Insurance Limited ABN 15 000 122 850 AFSL 234708 (“Allianz”). Information contained in this article is accurate as at 30/11/2023 and may be subject to change. In some cases, information has been provided to us by third parties and while that information is believed to be accurate and reliable, its accuracy is not guaranteed in any way. Any opinions expressed constitute our views at the time of issue and are subject to change. Neither Allianz, nor its employees or directors give any warranty of accuracy or accept responsibility for any loss or liability incurred by you in respect of any error, omission or misrepresentation in this article.
