Arch provides long term capacity to cyber insurer Coalition
Arch Insurance North America is providing long term capacity to Coalition, a provider of cyber insurance and security, for its US and Canada cyber and technology errors and omissions programmes.
The multi-year partnership is intended to support Coalition’s growth. Over the past year, Coalition has grown to over $150 million of run-rate gross written premium, serving more than 41,000 organisations.
Jay Rajendra, Arch’s chief strategy and innovation officer, highlighted Coalition’s data-driven approach to insuring cyber risk, which is in line with Arch’s commitment to using advanced analytics to better manage risk and complements its own cyber offerings.
“Their analytics-based approach and superior in-house cyber security services are compelling reasons for us to support their ongoing mission to solve cyber risk,” he added.
Joshua Motta, co-founder and chief executive officer at Coalition, said: “We look forward to collaborating with Arch to develop new and advanced predictive analytics capabilities that improve our products and that better address the greatest risks companies face today.”