Coalition, Inc.

If your clients are tricked by deepfakes, does their cyber insurance have them covered? Reuters explores the risk of deepfakes and highlights our new Affirmative AI Endorsement coverage (available in the U.S. and Canada) that expands the scope of what is considered a security failure or data breach by including those triggered by AI. Find out more at the link below.

Tied with business email compromise for first place as our leading cause of cyber claims is funds transfer fraud. Whenever possible, we try to claw back our policyholder's stolen funds. Our recovery process has yielded some big numbers in 2023. Check them out in the video below. Explore more claims trends in our 2024 Cyber Claims Report: https://bit.ly/3WeVAcy

There has been much debate over whether a federal cyber insurance backstop should exist in case of a catastrophic cyber event. Sezaneh Seymour, Ph.D., VP and Head of Regulatory Risk and Policy, offers her opinion on the nuances that should exist in a federal backstop to cover cyber physical incidents that are not covered by property or cyber policies — all while avoiding the transfer of the financial consequences to taxpayers. Explore her point of view in Business Insurance.

Brokers, are you worried about AI taking your job? You shouldn't be. Ketan Nayak, Senior Director of Product Management, explained how AI can be used by brokers to speed up tasks while noting that high-level servicing is still necessary to be carried out by real people. Read more of his thoughts in Insurance Business America.

Shawn Ram, Head of Insurance, appeared on The Insurer TV to discuss why cyber is far from uninsurable, risk mitigation strategies, how we've added AI coverage enhancements to address the threat of AI technologies and deepfakes, and how our managed detection and response service helps businesses manage their cyber risk. Watch the full video below.

The Cyber Insurance Buyer's Guide is now available! Click through the slides to see what's included in the guide, and use it to help explain the importance of cyber insurance in protecting businesses from digital risks.📑  You can view and download the guide here: https://lnkd.in/gUqYdbvN

The Change Healthcare ransomware incident made waves in February, and the impacts of the attack continue to unfold. Robert Jones, Global Head of Claims, shared three lessons we can take away from the event: 🔹Contingent business interruption should be considered (regardless of industry) as it protects against third-party risk. 🔹Organizations should prioritize essential business technologies and replace those that are at risk. 🔹There can be long-term fallout from attacks that persist for months or even years Get more details in Independent Insurance Agents and Brokers of America.

We're thrilled to be nominated in four categories at the Zywave Cyber Risk Awards: 1️⃣ Cyber Risk Industry Person of the Year (London/EMEA) — Tom Draper 2️⃣ Cyber Visionary Award — Joshua Motta 3️⃣ Cyber Safety & Loss Control [Pre-Breach] Team of the Year 4️⃣ Cyber Insurer of the Year Get your votes in before voting closes on May 17.

Our 2024 Cyber Claims Report is here, and it explores the trends from our claims that occurred in 2023. Read Robert Jones's blog post, Head of Global Claims, to learn why cyber claims are trending upward, which boundary devices are more likely to lead to a claim, and why threat actors continue to monetize through funds transfer fraud incidents.

Cybercrimes and cyber risk continue to rise, leaving plenty of business owners wondering how they possibly can stay ahead of the curve. While there's no tool or control that can completely eliminate cyber risk, Shelley Ma shared advice some advice with Independent Insurance Agents and Brokers of America. "Adopting cyber best practices effectively is really important to navigate these dynamic threats rather than focusing narrowly on a particular attack type." Learn more in the article below.