Coalition: Underwriting Cyber Like an Adversary

Coalition, launched December 5, said it has the capability to quote, bind and issue a customized cyber insurance policy online in less than 5 minutes by looking at companies like a hacker.

“We are looking at companies like a real-life adversary would for all the things we might use to hack them,” added Joshua Motta, co-founder and CEO of Coalition—described as a provider of a full suite of cybersecurity products for small and midsize businesses, including cyber and tech E&O insurance of up to $10 million, backed by Swiss Re Corporate Solutions and Argo.

Coalition’s software “thinks like an underwriter without any underwriters,” said Motta, who started his first company at 13 years old. Microsoft subsequently bought the software Motta created and then hired Motta at age 15. After high school, Motta joined information operations at the CIA where he learned “how offense works” as a component to cybersecurity.

Read more at https://www.advisenltd.com/2017/12/06/coalition-underwriting-cyber-like-adversary/

Chad Hemenway, Coalition: Underwriting cyber like an adversary (December 7, 2017), available with subscription at Advisen Cyber Front Page News.

Information ‘Asymmetry’ in Cyber Underwriting

NEW YORK—Cyber underwriting has come a long way from the early years.

“Back in 1999 and 2000 an account came in and you sent it off to a service provider, they did a report and you went to your X, Y grid of retentions and limits and came up with a price per million; that’s how you would underwrite,” said Bob Parisi, managing director at Marsh.

Parisi, the moderator of the Underwriting Process Laid Bare panel at Advisen’s Cyber Risk Insights Conference in New York, continued, “Since then the process has matured and become more detailed.”

Read more at http://www.advisenltd.com/2016/12/01/information-asymmetry-in-cyber-underwriting/

Josh Bradford, Information ‘asymmetry’ in cyber underwriting (December 1, 2016), available with subscription at Advisen Cyber Front Page News.