Arch Insurance North America, part of Arch Capital Group, and cyber insurance and security provider Coalition have announced a multi-year partnership that provides Coalition with long-term capacity for its US and Canada cyber and technology errors and omissions insurance programs on Arch Insurance North America’s carriers.
“Arch is committed to leveraging advanced analytics to change the way we understand risk and protect businesses,” said Jay Rajendra, chief strategy and innovation officer at Arch. “Their analytics-based approach and superior in-house cybersecurity services are compelling reasons for us to support their ongoing mission to solve cyber risk. Our partnership with Coalition is an excellent complement to Arch’s existing cyber insurance product offerings.”
The partnership with Arch will support Coalition’s growth, the companies said. Over the past year, Coalition has grown to more than US$150 million of run-rate gross written premium. The company currently serves more than 41,000 organizations.
“Our partnership with Arch reinforces our commitment to providing businesses with the most comprehensive insurance available, now backed by the financial strength of multiple A.M. Best A+ rated insurers,” said Joshua Motta, co-founder and CEO of Coalition. “Equally important, we are pleased to welcome a partner that shares our desire to use data and technology to better protect businesses. We look forward to collaborating with Arch to develop new and advanced predictive analytics capabilities that improve our products and that better address the greatest risks companies face today.”