Is the form Loss Sustained or Discovery?
The default form is Loss Sustained, but we proactively add an endorsement to every policy to convert the form to Discovery.
What size risks can you consider?
For Crime, we consider coverage for private companies and not-for-profit organizations with up to 250 employees for our admitted product and up to 1000 employees for our surplus product.
Can you consider insureds with prior claims?
Yes, we consider accounts with prior claims.
Do you offer Fraudulent Impersonation (aka Social Engineering) coverage?
We can offer coverage up to $250K with confirmation on standard controls.
Are Independent Contractors covered as employees?
Yes, Independent Contractors are covered as employees.
Do you need full financials to quote Crime?
No, we do not need financials to quote Crime.
Can you write Crime on a standalone basis?
What happens if there's a claim that is covered under both the Crime policy through Coalition and a Cyber policy (ex: funds transfer fraud)?
In general, policies designate themselves as primary or excess policies. Primary policies always pay accepted claims first, whereas excess policies wait until the other contract has paid before making payments.
- In cases where the crime and cyber policy both state that they are primary and cover the claim, the policies will work together and pay proportionally based on the coverage offered by each policy.
- In cases where the crime and cyber policy both state that they are excess and cover the claim, the policies will work together and pay proportionally based on the coverage offered by each policy.
- In cases where one policy is primary and the other is excess, the primary policy will pay the claim first, and the excess policy will cover any additional losses after the primary policy has paid.
Insurance products are offered in the U.S. by Coalition Insurance Solutions Inc. (“CIS”), a licensed insurance producer and surplus lines broker (Cal. license # 0L76155), acting on behalf of a number of unaffiliated insurance companies, and on an admitted basis acting on behalf of Zurich American Insurance Company (NAIC # 16535). See licenses and disclaimers. Copyright © 2023. All rights reserved. Coalition and the Coalition logo are trademarks of Coalition, Inc.