The Hartford and Coalition Announce UK Cyber Partnership
The Hartford (NYSE: HIG) and Coalition have announced a strategic long-term capacity partnership for the UK cyber insurance market. The Hartford will assume a quota share of Coalition's UK cyber program, complementing existing capacity partner relationships. The partnership combines The Hartford's established cyber market strength with Coalition's Active Insurance approach, which focuses on helping businesses prevent and mitigate cyber risks before they become disruptions. The collaboration aims to serve growing customer and broker demand in the UK market through Coalition's comprehensive insurance coverage and cybersecurity tools.
The Hartford (NYSE: HIG) e Coalition hanno annunciato una partnership strategica a lungo termine per il mercato delle assicurazioni cyber nel Regno Unito. The Hartford assumerà una quota del programma cyber nel Regno Unito di Coalition, completando le relazioni esistenti con i partner di capacità. La partnership unisce la forza consolidata di The Hartford nel mercato cyber con l'approccio Active Insurance di Coalition, che si concentra sull'aiutare le aziende a prevenire e mitigare i rischi informatici prima che diventino problematiche. La collaborazione mira a soddisfare la crescente domanda di clienti e broker nel mercato del Regno Unito attraverso la copertura assicurativa completa e gli strumenti di cybersicurezza di Coalition.
The Hartford (NYSE: HIG) y Coalition han anunciado una asociación estratégica de capacidad a largo plazo para el mercado de seguros cibernéticos del Reino Unido. The Hartford asumirá una parte del programa cibernético del Reino Unido de Coalition, complementando las relaciones existentes con socios de capacidad. La asociación combina la fuerza establecida en el mercado cibernético de The Hartford con el enfoque de Active Insurance de Coalition, que se centra en ayudar a las empresas a prevenir y mitigar los riesgos cibernéticos antes de que se conviertan en interrupciones. La colaboración tiene como objetivo atender la creciente demanda de clientes y corredores en el mercado del Reino Unido a través de la cobertura de seguros integral y las herramientas de ciberseguridad de Coalition.
하트포드 (NYSE: HIG)와 Coalition은 영국 사이버 보험 시장을 위한 전략적 장기 파트너십을 발표했습니다. 하트포드는 Coalition의 영국 사이버 프로그램의 지분을 맡아 기존의 능력 파트너 관계를 보완하게 됩니다. 이 파트너십은 하트포드의 확립된 사이버 시장 강점과 비즈니스가 사이버 리스크를 사전 예방하고 완화하도록 지원하는 Coalition의 능동 보험 접근 방식을 결합합니다. 협력은 Coalition의 포괄적인 보험 보장과 사이버 보안 도구를 통해 영국 시장에서 증가하는 고객 및 중개인 수요에 부응하기 위한 것입니다.
The Hartford (NYSE: HIG) et Coalition ont annoncé un partenariat stratégique de capacité à long terme pour le marché de l'assurance cybernétoire au Royaume-Uni. The Hartford prendra une part du programme cyber du Royaume-Uni de Coalition, complétant les relations existantes avec les partenaires de capacité. Ce partenariat associe la force établie de The Hartford sur le marché cyber à l'approche d'Active Insurance de Coalition, qui vise à aider les entreprises à prévenir et à atténuer les risques cyber avant qu'ils ne se transforment en perturbations. La collaboration vise à répondre à la demande croissante des clients et des courtiers sur le marché britannique grâce à la couverture d'assurance complète et aux outils de cybersécurité de Coalition.
The Hartford (NYSE: HIG) und Coalition haben eine strategische langfristige Partnerschaft für den britischen Cyber-Versicherungsmarkt angekündigt. The Hartford wird einen Anteil am britischen Cyber-Programm von Coalition übernehmen und damit bestehende Partnerschaften ergänzen. Die Partnerschaft vereint die etablierte Marktmacht von The Hartford im Cyberbereich mit dem Active Insurance-Ansatz von Coalition, der darauf abzielt, Unternehmen zu helfen, Cyberrisiken zu vermeiden und zu mindern, bevor sie zu Störungen werden. Die Zusammenarbeit soll die wachsende Nachfrage von Kunden und Maklern auf dem britischen Markt durch die umfassende Versicherungsdeckung und die Cybersicherheitswerkzeuge von Coalition bedienen.
- Strategic expansion into UK cyber insurance market
- Partnership with established cyber insurance provider Coalition
- Diversification of international business operations
- Access to growing UK cyber insurance market
- None.
Insights
This strategic partnership marks a significant expansion in the cyber insurance market, combining The Hartford's established underwriting expertise with Coalition's innovative active insurance model. The deal strengthens The Hartford's international presence and diversifies its revenue streams in the growing UK cyber insurance sector. Key benefits include:
- Expanded market reach through Coalition's tech-forward distribution model
- Risk mitigation through Coalition's preventative approach, potentially leading to better loss ratios
- Enhanced competitive positioning in the UK's digital insurance marketplace
Coalition's Active Insurance model represents a paradigm shift in cyber risk management, differentiating this partnership in the market. Their approach combines traditional insurance with proactive cybersecurity monitoring and alerts, addressing a critical gap in conventional cyber coverage. The platform's ability to detect and prevent threats before they materialize significantly reduces claim frequency and severity. For The Hartford, accessing Coalition's technology infrastructure and risk assessment capabilities provides a competitive edge in underwriting accuracy and risk selection. This technology-first approach to insurance distribution and risk management aligns with evolving market demands for integrated security and coverage solutions.
New Long-term Capacity Agreement Combines the Established Strength of The
“We continue to capitalize on the strengths of The
As part of the agreement, The
“We are thrilled to have The
About Coalition
Coalition is the world's first Active Insurance provider designed to help prevent digital risk before it strikes. By combining comprehensive insurance coverage and cybersecurity tools, Coalition helps businesses manage and mitigate potential cyber attacks. Leveraging its relationships with leading global insurers and capacity providers, including Coalition Insurance Company, Coalition offers Active Insurance products to businesses in
The descriptions contained in this communication are for preliminary informational purposes only. Coalition is a trading name of Coalition Risk Solutions Ltd., which is an appointed representative of Davies MGA Services Limited, a company authorised and regulated by the Financial Conduct Authority (FCA), registration number 597301, to carry on insurance distribution activities. You may check this on the FCA register by visiting the FCA website www.fca.org.uk. Coalition Risk Solutions Ltd. is registered in
About The
The
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The
HIG-GS
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2023 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
From time to time, The
View source version on businesswire.com: https://www.businesswire.com/news/home/20241029474209/en/
The Hartford Media Contact:
Saverio Mancini
Saverio.mancini@thehartford.com
Coalition Media Contact:
Marisa Graves
press@coalitioninc.com
Source: Coalition
FAQ
What is The Hartford's (HIG) new partnership with Coalition in the UK?
How will The Hartford's (HIG) partnership with Coalition benefit UK customers?
What markets does Coalition currently operate in with The Hartford (HIG)?
