Coalition is launching cyber insurance operations in Sweden and Denmark, which the MGA says will help Nordic clients address the growing risk of cyber threats worldwide.
The Denmark operations start on Thursday, May 1, while the offerings in Sweden will become available on May 8.
“Businesses within the Nordics will benefit from access to an offering that combines comprehensive insurance with meaningful cybersecurity insights and tools to help them manage and mitigate cyber threats,” Tine Simonsen, Coalition’s head of insurance for Continental Europe, said in a release.
Allianz Commercial is providing capacity in a multi-year agreement, and coverage is available to businesses with up to 7.5bn Danish krone and 11bn Swedish krona in revenue on a primary basis, with no minimum premium requirement. Allianz’s current cyber product remains available without any change.
“We are now complementing our established cyber product for complex risks of all kinds and multinational requirements with Coalition's offering,” said Margaretha Mo, managing director, Nordics, at Allianz Commercial.
“This allows us to support our customers in Denmark and Sweden even further in managing their cyber risks, quickly identifying damages and ideally even preventing them altogether,” she added.
The coverage is being offered in the Nordic region through Coalition’s subsidiary, Coalition Insurance Solutions, filial af Coalition Insurance Solutions GmbH, Tyskland.