Coalition Launches Innovative Active Cyber Insurance Product to Boost Coverage in Denmark and Sweden
In response to the increasing demand for robust cyber risk management solutions, US InsurTech Coalition has launched its innovative Active Cyber Insurance offering in the Nordic region. This strategic initiative aims to address the growing challenges businesses face from escalating cyber threats.
Active Cyber Insurance Launch in the Nordic Region
The launch of the Active Cyber Insurance product marks a significant development for businesses in Denmark and Sweden, allowing them to tackle digital threats proactively. As cyberattacks become more frequent, this new offering integrates cyber insurance coverage with essential risk management tools.
Features of Active Cyber Insurance
- Comprehensive Coverage: The product provides businesses with access to cybersecurity insights and resources.
- Quick Quoting: Brokers can generate quotes rapidly through Coalition’s user-friendly platform.
- Client Training: The offering includes training programs designed to enhance client cybersecurity practices.
- Reliable Support: In case of a cyber incident, Coalition’s claims and response teams are ready to assist.
Currently, the coverage is live in Denmark, with plans to launch in Sweden on May 8, 2025. This product caters to businesses with annual revenues up to DKK 7.5 billion or SEK 11 billion, and there is no minimum premium requirement.
Partnership with Allianz Commercial
The Active Cyber Insurance is underwritten by Allianz Commercial, under a multi-year agreement aimed at providing support for more complex, multinational risks. Both Coalition and Allianz are committed to expanding their services across the Nordic region.
Insights from Industry Leaders
Margaretha Mo, Managing Director for the Nordics at Allianz Commercial, emphasized the critical nature of cyber risks, stating, “Cyber risks are among the greatest threats facing businesses worldwide.” She highlighted the necessity for solutions that enable companies to identify and prevent potential cyber damages effectively.
Tine Simonsen, Head of Insurance for Continental Europe at Coalition, echoed this sentiment, explaining, “Businesses within the Nordics will benefit from access to an offering that combines comprehensive insurance with meaningful cybersecurity insights and tools.” She further stressed the importance of preventing digital risks before they occur as threats continue to grow.
For more information on cyber risk management solutions, explore our comprehensive guides and resources.
