SAN FRANCISCO–(BUSINESS WIRE)–Coalition, the world’s first proactive insurance provider designed to prevent digital risk before it happens, today announced the addition of crime and fiduciary liability insurance coverage provided through a collaboration with Zurich American Insurance Company to protect small businesses . The addition of Crime and Fiduciary Liability to Coalition’s Executive Risks product lines makes it easier than ever for brokers to quote and bond through Coalition’s streamlined digital application process, all to protect against a wider range of risks.
“Today’s crime and fiduciary liability threats are digital, fast-moving and potentially devastating to any business. Like cyber incidents, these risks can be triggered by internal or external threats, including theft, negligence and human error,” said Patrick Mitchell, Coalition’s head of executive risk. “With Coalition’s proactive underwriting approach, brokers can take proactive steps to help small businesses identify and mitigate risks associated with fiduciary liability losses and crime exposure.
Coalition’s executive risk products, including existing directors’ and officers’ liability (D&O) insurance and employment liability (EPL) coverage, make it easier than ever for brokers to customize products. Coalition provides brokers with a risk assessment along with each quote to facilitate risk management conversations with each client. The company’s flexible approach allows brokers to customize coverages to address specific crime and fiduciary liability risks—in addition to policy limits and retentions.
“Coalition’s industry-leading turnaround time for quote generation is one of the main reasons for our high success rate in securing new business,” Mitchell continued. “Our risk engineers are incredibly responsive and focused on expanding our mission to protect the vulnerable. I am excited about our progress and efforts to continue to grow Coalition’s executive risk offering.”
Coalition’s new crime insurance is designed to help protect organizations from criminal activity – both externally (via third parties) and internally (via their own employees). Although cybercriminals and their tactics are becoming more sophisticated, most cyberattacks and cybercriminal attacks are still carried out through social engineering.
Negligence and mismanagement of benefit plans can lead to fiduciary liability claims. Coalition’s new Fiduciary Liability Insurance helps businesses manage their risks related to their employee benefit plans. New policies may include excess fee coverage, settlor coverage, and a comprehensive list of covered civil penalties.
To learn more about Coalition’s executive risks insurance, please visit: coalitioninc.com/executive-risks-insurance.
Coalition Insurance Solutions Inc. (“CIS”) is a licensed insurance producer with a principal place of business in San Francisco, California (Cal. License #0L76155). CIS’s crime and fiduciary liability insurance is provided through a partnership with Zurich American Insurance Company, located at 1299 Zurich Way, Schaumburg, IL 60196 (NAIC # 16535). Insurance products offered through CIS may not be available in all countries. CIS may receive compensation from an insurer or other intermediary in connection with the sale of insurance. All decisions regarding any insurance products mentioned herein, including approval of coverage, premium, commission and fees, will be made solely by the underwriter underwriting the insurance under the underwriter’s current criteria. All insurance products are governed by the terms, conditions, limitations and exclusions set out in the applicable insurance policy. Please see a copy of your policy for full terms, conditions and exclusions. Copyright © 2023. All rights reserved. Coalition and the Coalition logo are trademarks of Coalition, Inc. or its affiliates.
About the coalition
Coalition is the world’s first active insurance provider designed to prevent digital risk before it happens. By combining comprehensive insurance coverage and cybersecurity tools, Coalition helps businesses manage and mitigate digital risks. Coalition offers its active insurance products in the US, UK and Canada through relationships with leading global insurers including Arch Insurance North America, Allianz, Ascot Group, Lloyd’s of London, Swiss Re Corporate Solutions, Vantage and management liability coverage through Zurich American Insurance company. Its security products are available to organizations worldwide. Coalition’s Active Risk platform provides automated security alerts, threat intelligence, expert guidance and cybersecurity tools to help businesses stay resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates digitally and across office centers.