Allianz ties up with cyber MGA Coalition ‘to protect the unprotected’
Re/insurer Allianz has partnered with cyber managing general agent (MGA) Coalition to provide multi-year capacity for US and UK cyber insurance programmes.
The new agreement provides Coalition with long-term committed capacity for its cyber insurance programmes. Allianz will assume a share of all Coalition US non-admitted cyber programmes and lead its UK cyber programme when it launches later this year.
“Cyber is one of the top risks for businesses globally and while the risk landscape is not getting any easier, we are expanding our offering for customers,” said Scott Sayce (pictured), global head of cyber at Allianz. “We constantly urge our customers to strengthen their cyber defenses and, with its innovative approach to cyber risk, Coalition has proven that data and technology can be very effective to prevent and resolve cyber claims.”
Shawn Ram, head of insurance for Coalition, said: “We’re thrilled to announce that Allianz, one of the world’s largest insurance companies, is partnering with Coalition to protect the unprotected. Far too many organisations simply aren’t prepared to manage and mitigate cyber risk. Coalition’s Active Insurance offers demonstrably better protection from cyber threats and with Allianz's support we will be able to provide Active Cyber Insurance to more organisations worldwide.”
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