San Francisco-based cyber specialist Coalition, which launched in Australia in November, has expanded into the excess market. 

It says its Active Insurance product combines coverage and cybersecurity tools to help businesses manage and mitigate cyberattacks. Capacity is provided by Allianz Australia. 

The entry into the excess market allows brokers to sell cover up to $20 million above a primary layer of insurance from another cyber provider. 

“Our broad appetite for offering cyber coverage will enable more Australian businesses to acquire cyber insurance and be better protected from digital risks,” Australian GM Sam Weaver said. 

Australia is Coalition’s fourth global market. It launched in the US in 2018, Canada in 2020 and Britain in 2022, and already offers excess cyber products in those countries. 

The excess policies can include drop-down cover over select sub-limited coverage such as funds transfer fraud and social engineering. 

Organisations also gain access to Coalition’s cyber risk management platform and a security support team to answer questions and help resolve issues or alerts.