Coalition is expanding its small business cyber insurance offering to Canada-based companies. London-based InsurTech Zego has expanded its partnership with RSA Insurance to provide flexible cover for van fleets.
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Coalition, an MGA focused on cyber insurance for small and midsize businesses in the U.S., said it is expanding its offering to Canada-based companies.
Coverage will include proactive cybersecurity products and services and best-in-class cyber and technology error & omissions insurance to help keep businesses safe.
Coalition will offer up to CAD $20 million of comprehensive insurance coverage supported by the financial strength of Swiss Re (A.M. Best A+) to companies with up to CAD $1 billion in annual revenue. Through Coalition’s online platform, licensed insurance brokers are able to generate a quote in minutes and also provide their clients with access to Coalition’s proprietary cybersecurity tools and services that are designed to detect, mitigate and contain threats at no additional cost.
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London-based InsurTech Zego has expanded its partnership with RSA Insurance to provide flexible cover for van fleets.
Zego is offering usage-based policies to delivery, courier or trade van fleets of 20-200 vehicles in the UK, reducing upfront costs for these businesses.
RSA is not providing Zego with capital, just its Standard & Poor’s “A” rating, which allows Zego to sell its van fleet product at scale, said a Zego representative, who explained that many fleets require a UK-based “A”-rated insurer. The two companies first partnered in 2018 to offer pay-as-you-go insurance for part-time courier and parcel delivery drivers.
With a Zego usage-based policy, a van fleet owner whose vehicles are not on the road will never pay more than a base subscription rate, the company said. Additionally, if the business experiences a sudden increase in demand, its costs are capped so that it will never pay more than an agreed limit.
Sources: Coalition, Zego