Energetic insurance coverage supplier Coalition has entered right into a long-term partnership with HDI International Specialty to bolster its presence within the Canadian cyber insurance coverage market.
Coalition specialises in stopping cases of digital danger earlier than it strikes by integrating insurance coverage protection with cybersecurity instruments.
Companies leverage Coalition’s instruments to handle and mitigate potential digital dangers.
Below the newest partnership, HDI International Specialty will be part of Coalition’s Canadian Cyber and Tech Errors & Omissions (E&O) Panel and ship insurance coverage capability ranging from 2024.
As the worldwide capability accomplice, HDI International Specialty may even assume a quota share on all of Coalition’s cyber insurance coverage merchandise obtainable throughout the Canadian market, incepting on/after 1 January 2024.
Presently, HDI International Specialty’s Canadian department helps underwriting actions for 2 fundamental enterprise streams – Delegated Authority and Single Threat companies.
By way of single danger, the corporate focuses on Skilled & Monetary Traces, Aviation, Constancy, Leisure & Contingency and Disaster Administration.
HDI International Specialty Canada managing director and chief agent Derek Spafford stated: “This new partnership with Coalition marks our first important step into [the] cyber market in Canada.
“We’re excited to hitch forces with such a longtime accomplice that has, in only some years, already develop into a frontrunner within the Canadian cyber insurance coverage market.”
Aside from HDI International Specialty, numerous different world (re)insurers together with Allianz, Arch, Ascot, Fortegra and Vantage have established capability partnerships with Coalition.
Coalition insurance coverage head Shawn Ram stated: “HDI International has headquarters in Germany, and international branches, subsidiaries and associates in additional than 175 international locations, making them a superb world accomplice as Coalition continues to increase our choices worldwide.
“HDI is a well-established world participant, and we’re thrilled to have them as a accomplice as we proceed to scale our mission to democratise cyber protection and defend unprotected.”
