Does Coalition offer Excess coverage?
Yes! Coalition offers excess coverage for the Cyber Surplus market in the US, and Canada. We want to work with you to build a tower offering our comprehensive coverage and all of the Active Insurance benefits to elevate your clients’ protection.
Frequently Asked Questions:
Where do I send my excess submissions?
Email submissions to firstname.lastname@example.org and include ‘Excess’ in the subject line.
What is the minimum attachment point?
Our minimum attachment point is $3M, except in the case of our ability to provide $3M xs $2M options (US only).
Does Coalition have a maximum limit they will offer?
Coalition can offer limits up to $10M in the US and $5M in Canada, depending on the risk.
Why is Coalition’s excess policy unique?
Coalition’s excess provides all the same benefits of Active Cyber Insurance, including Control, our security monitoring software. Through Control’s dashboard, policyholders get direct visibility into their security exposures and receive notifications when vulnerabilities impact their network and can access remediation guidance. Having this valuable insight could protect the entire insurance tower from security exposures, before they turns into claims.
What do I include in my excess submission?
In addition to the policyholders’ application and underlying terms, we will require copies of loss runs, underlying policy language and other relevant details provided with the primary submission.
Who will be handling my submission?
Depending on the size of the account a member of our production underwriting team (for middle market business) or a risk engineer (for SMB) will be in touch with any questions and quote details.
How long does it take to receive an excess quote?
Our team will be able to provide quotes anywhere from a few hours to ~3 days from submission depending on the size of the account. If a response is needed sooner- our team can provide a same day indication or an ILF approximation.
Can I quote excess in the Coalition Platform?
At this time, all excess submissions can be sent to our team directly through email only at email@example.com.
Does Coalition’s appetite change with excess?
Although our excess appetite follows our primary cyber appetite, we have more flexibility on contingencies depending on our attachment point.
What if Coalition declines my primary submission, is excess still available?
We may still be available to provide excess terms depending on the attachment point and other security related underwriting details.
Are there any restrictions Coalition has regarding excess?
All carriers below us in the tower, must have an AM Best rating of A- or higher.
What happens when there is a claim? Does Coalition get involved?
When a claim occurs, the policyholder’s primary insurance carrier leads the claims response efforts.
Are there any sublimits or exclusions Coalition will or will not follow?
On occasion, Coalition is able to offer drop down sublimits on Funds Transfer Fraud (FTF)/ Social Engineering Fraud (SEF) coverage with a maximum sub-limit of $1M subject to certain restrictions and only offered when dual controls are in place for FTF.
Coalition’s team will be able to speak to unique specifics based on the underlying primary form and the risk on a case by case basis.
Does Coalition provide excess coverage for all other insurers?
You’ll find we provide excess coverage over most carriers. If there is a new carrier which we haven’t approved yet, we’re happy to review the primary and/or underlying policy wording, as well as any attached endorsements to provide you with excess terms.
What excess products does Coalition offer, and in what regions?
Coalition offers excess coverage for the Cyber Surplus market in both US and Canada (excluding Quebec). Combined with our cyber coverage, Coalition also provides excess options for Tech E&O, and MPL (US only) lines of coverage.