Coalition Starts Intermediary Coalition in Re Reinsurance led by Aspen Capacity

Coalition today announced the creation of its reinsurance intermediary, Coalition Re, to provide capacity for cyber reinsurance treaties and expand its mission to protect more vulnerable businesses.

Coalition Re offers non-proportional cyber reinsurance treaty capacity as well as a cyber insurance product with up to 100% quota support for cedants wishing to offer cyber insurance as a back-up to an existing insurance product offering. Both are available globally and are supported by a group of capacity providers led by Aspen.

“In reinsurance, there is often an information breakdown where reinsurers know less about policyholders than primary insurers. Combine this with a lack of cyber expertise and proper use of data among reinsurers, and the result is reinsurance contracts that are incorrectly priced and a misconception about how to measure exposure to cyber accumulation,” said Shawn Ram, Head of insurance at Coalition. “Coalition Re is a new type of reinsurance provider where we equip carriers with deeper insights into the cyber risk on their books, which adds value far beyond simply adding capacity. By democratizing Coalition’s industry-leading technology, we can better align interests with cedants and foster a more stable cyber reinsurance market.”

Coalition Re said it is building a bottom-up view to accurately price non-proportional reinsurance contracts, giving underwriters the ability to learn more about cyber policyholders and gain visibility into key sources of risk from their portfolios. In addition, Coalition Re offers cedants a product that includes the full suite of risk mitigation tools and services currently available only to Coalition’s Active Cyber ​​​​Insurance policyholders.

TOPICS
Reinsurance