Our daily work culture has shifted dramatically over the past three years. More people have left their offices for good and are working from home. As a result, businesses face new risks that aren't covered by most Businessowner's Policies (BOP). While most BOP policies include additional cyber coverage at a lower cost, they typically offer smaller sub-limits that won't provide enough coverage in case of a claim. Towards the end of 2021, Coalition saw the average claim cost increase to $149,000.
Cybercriminals are opportunistic when it comes to small businesses.
Digital risk is everywhere and evolves minute by minute. Every wireless transaction, link clicked, and stolen device leaves your clients vulnerable to a cyber attack that can close their businesses permanently. Today, cybercriminals are opportunistic, particularly when it comes to small and midsize organizations. The technology these organizations use is far more key to their risk than their industry. According to Coalition's 2022 Claims Report, small businesses saw a 40% increase in ransomware attacks and a 54% increase in funds transfer fraud incidents.
Luckily, there's a solution for intangible threats.
Coalition Active Cyber Insurance spots and prevents risk before it strikes. Active Insurance continuity monitors and analyzes live data to spot new threats and alert your clients when they're at risk. With Coalition, your clients get protection and support before, during, and after digital incidents.
Active assessments, monitoring, and alerts
Coalition Control is an automated scanning and alerting service — free to all Coalition policyholders – that assesses your clients’ digital risks from cybersecurity and executive exposures and shows you how to fix them.
Active response during security incidents
Get continuous scanning and monitoring of digital assets and other risk factors associated with cyber and executive risks—providing alerts for critical issues and personalized security recommendations so brokers and policyholders know when new threats arise.
Comprehensive insurance to help them recover quickly
Coalition’s comprehensive insurance policy will help your organization recover financially and operationally to get back to business.