Security incidents, data breaches and technology failures aren't just cyber risks, but sources of professional liability for technology companies. The average claim for Coalition's technology policyholders is $190,000.
Coalition protects tech companies with security tools and tailored cyber and professional liability coverage, which includes:
- Coverage for technology errors & omissions
- Coverage for consequential reputational harm loss and media and public relations costs to respond to an incident.
- Enhanced coverage for denial-of-service (DDoS) attacks that impede legitimate traffic to the policyholder's business.
- Costs to replace computer systems and other technology damaged in a cyberattack.
- Costs to respond to a ransomware (extortion) incident.
- Funds transfer fraud losses arising from a security failure or social engineering.
Coalition helps policyholders protect their network and their business by offering a full suite of security apps, including 24/7 security monitoring, automated threat and intelligence alerts, DDoS mitigation, security benchmarking, ransomware protection, employee training, patch reminders and more—included with each policy, all at no additional cost.
When an incident happens, Coalition is the only insurance firm with a dedicated 24/7 incident response and claims team to help insureds respond to an incident. Coalition's team of security and insurance experts are dedicated to getting your clients back up and running following a cyber incident.
Coalition's in-house security incident response team helped a technology company overcome a ransomware attack. This same team is available as a pre-breach resource to help policyholders implement security and loss controls—again, all at no additional cost.
Ready to protect your technology clients? Log in to Big 'I' Markets to create a quote in less than four minutes. Contact Carla McGee, your dedicated cyber insurance program manager, with any questions or to walk you through a quote.