AAA partners with Spot Pet Insurance; Arch and Upfort team up: Insurtech news

Coalition has launched a suite of active cyber insurance products in Australia with a focus on helping organizations better understand their cyber risks, improve the risk management and defenses with the ultimate goal of preventing future attacks.

“In the last year alone, countless businesses in Australia have suffered high-profile cyberattack, affecting millions of Australians and pushing cybersecurity and data privacy to the forefront of the national conversation,” said Coalition’s Chief Executive Officer and co-founder, Joshua Motta in a statement, “Yet, only 20% of Australian SMEs currently have cyber insurance, and even fewer brokers specialize in the coverage area.”

Coalition is partnering with Allianz Australia to provide coverage. “Cyber risk is a significant threat impacting Australian businesses today,” said Phuong Ly, chief general manager, commercial, at Allianz Australia, in a statement. “Allianz is proud to partner with Coalition and help provide our broker partners and their customers this unique solution.”