Through a cutting-edge partnership, the leader in small business cybersecurity joins forces with premier provider of cyber insurance products to protect the full spectrum of customers’ cyber risk
SAN FRANCISCO — November 26, 2019 — Leader in small business cybersecurity Coronet today announced a cutting-edge partnership with Coalition, the leading cyber insurance provider for small and midsized businesses. Through this partnership, Coronet customers may obtain market leading cyber insurance products offered by Coalition, combining Coronet’s data breach protection platform with cyber insurance coverage up to $500,000. Together, Coronet and Coalition are filling a significant void in cybersecurity – accessibility to cyber insurance – by becoming the first industry partners to protect the full spectrum of small and midsized business cyber risk.
“Together with Coronet we have the opportunity to pioneer a new approach to cybersecurity by providing comprehensive security protection to prevent incidents, together with insurance, to help mitigate and recover from them,” said Joshua Motta, Co-founder and CEO of Coalition. “The result is far fewer breaches; far less cost to detect, contain, and recover when one occurs; and the backstop of insurance to make a company whole again.”
Coalition and Coronet have partnered with the goal of making cyber insurance and cybersecurity more accessible for small and midsized businesses, as many are traditionally uninsured or under-protected from cyber incidents. While they face just as many threats as large corporations, small businesses often lack the time, money and resources needed to protect themselves against breaches. This partnership democratizes access to cyber insurance products to a broad group of smaller businesses that are already taking proactive steps to improve their security posture by using Coronet’s data breach protection platform.
Ensuring complete security for a business, including email security, cloud applications, bring-your-own-devices, such as smartphones and tablets, and data security, can be an operational nightmare. Instead of using multiple, expensive systems, Coronet created an all-in-one cybersecurity platform that uses AI to monitor all of a business’s security needs. This cost-effective approach is making enterprise-grade security more attainable for SMBs and SMEs. Moving forward, Coronet strengthens its value to customers even further by making available a trusted cyber insurance product tailored by Coalition to their unique exposures.
“Our relationship with Coalition was a natural tie-in for us,” said Coronet CEO Guy Moskowitz. “Their mission to mitigate risk for businesses who are often left out of the equation is exactly what we set out to do when we launched Coronet. We’re excited to provide solutions throughout the entire risk life-cycle with this partnership.”
Coronet is an industry leader in data breach protection for companies that use the cloud, and this partnership will allow their customers access a trusted cyber insurance product tailored by Coalition to their exposures. The bundled insurance offering will be included as part of Coronet’s Platinum product at no additional cost. For more information on the Coronet cybersecurity products + Coalition insurance products, visit coro.net.
Coronet is a world leader in providing organizations of every size with cyber defense for their email, cloud applications, any endpoint, and data leakage prevention. Coronet’s platform uses AI to detect and mitigate threats, eliminating the need for a security team to chase down security events. Provided as a subscription service, with nothing to install on premises, Coronet brings enterprise grade cybersecurity to organizations at an affordable price, eliminating the complexity and laborious nature of traditional security platforms. With the backing of JVP and other leading international investors, Coronet grew to over 3 million users in 2019.
Coalition, one of the fastest-growing providers of cyber insurance in the United States, combines comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by A+/A rated insurers Swiss Re Corporate Solutions, Lloyd’s of London, and Argo Group, Coalition provides companies with up to $15 million of cyber and technology insurance coverage in all 50 states and the District of Columbia. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyberattacks. Coalition is headquartered in San Francisco.
** All insurance products offered by Coalition, a licensed producer in all states and the District of Columbia.