Coalition Launches Active Cyber Insurance Solutions in Germany

01 Aug, 2024

Coalition Launches Active Cyber Insurance Solutions in Germany

Coalition, the world’s first Active Insurance provider, has launched its innovative Active Cyber Insurance in Germany through its subsidiary, Coalition Insurance Solutions GmbH, effective August 1, 2024. As highlighted by BaFin’s 2024 Risks in Focus Report, cyber-attacks and IT system breakdowns are top threats to German businesses. Coalition’s Active Cyber Insurance aims to help businesses identify, mitigate, and respond to emerging cyber threats. This solution provides not only financial protection but also access to cybersecurity tools to understand risks, strengthen defenses, and prevent future attacks.

CEO Joshua Motta emphasized that German businesses face frequent cyber-attacks, necessitating significant resources for recovery. Active Cyber Insurance empowers businesses to defend against these threats. Coalition’s insurance products are available in Germany through a partnership with Allianz Global Corporate & Specialty SE, covering businesses with up to €1 billion in revenue. Allianz's Regional Managing Director, Michael Furtschegger, noted that this collaboration enhances their ability to manage cyber risks effectively.

Coalition’s streamlined quoting process, comprehensive cyber risk management platform, Coalition Control®, and dedicated incident response teams ensure businesses receive ongoing protection and support. This launch addresses significant challenges in the German cyber insurance market, providing a data-driven approach to underwriting and risk management.