Markets/Coverages: Coalition Starts Private Equity Practice for Cyber Risk

Coalition introduced its Private Equity Practice, a tailored cyber insurance solution with advanced cyber risk management tools and customized coverage.

Announced Jan. 27, the new practice, developed with PE-focused brokers, is bespoke for PE firms, sponsors, general partners, and their portfolio companies to help them manage cyber risks from deal screening through exit.

“In private equity, a single cyber incident at one company can affect the entire fund,” said Shawn Ram, Coalition’s chief revenue officer. “That’s why investment and risk teams need visibility into the biggest cyber issues affecting both target companies and their entire portfolios.”

Marcin Weryk was named the leader of the PE practice. He is Coalition’s head of Northeast and Central regions.

Coalition’s comprehensive coverage helps protect against critical threats, like ransomware, funds transfer fraud, and invoice manipulation, and delivers rapid claims support and flexible policy structures specific to private equity firms’ investment strategies.

Coalition helps protect private equity firms and their portfolio companies from cyber risk by offering:

• Accelerated Due Diligence: Expedited turnaround (typically within 24 hours) on target cybersecurity assessments and cyber insurance premium indications.
• Unified Portfolio Visibility: A consolidated dashboard for monitoring cyber risk across portfolio companies – both at the individual company level and for the entire portfolio in aggregate.
• Transaction Flexibility: Customized policies to fit a fund’s specific strategy.
• Industry-Leading Coverage: Comprehensive cyber insurance coverage, with optional Technology Errors & Omissions and Miscellaneous Professional Liability endorsements.
• Dedicated Underwriting and Claims Expertise: A private equity-focused underwriter and claims liaison.
• Unparalleled Financial Recovery Tactics: Fast action to help recover fraudulently transferred funds.
• Specialized Consulting from Coalition Incident Response (CIR)*: Access to investigative work before an acquisition, technical validation, etc.
• Integrated Security Services: Access to automated Managed Detection and Response (MDR) to stop attacks in seconds. PE firms can obtain a free 90-day trial.
• Proven Results: Coalition policyholders experience 73% fewer claims than the industry average.

Coalition’s cyber insurance for private equity firms and their portfolio companies is available to eligible organizations in North America through Coalition’s broker partners, with plans to expand availability internationally.

SOURCE: Coalition