Coalition, the world’s largest commercial insurtech provider, announced the launch of its executive risks insurance products with new personalized risk assessments for all clients, offering broader protection for small and midsize businesses. With insurance coverage provided by Zurich North America (A+ rating from A.M. Best), Coalition is now offering Directors & Officers (D&O) and Employment Practices Liability (EPL) with new tools and features to all broker partners, furthering its breadth of offerings to protect businesses against modern risks.
Coalition’s new executive risks products integrate real-time data from a variety of publicly available sources to accurately assess a company’s risk exposure and continuously monitor changes throughout the policy lifecycle. Brokers can now quickly generate quotes in under four minutes and offer all clients a Coalition Risk Assessment for Executive Risks which identifies financial, regulatory and business exposures specific to their business and provides personalized recommendations to protect them from claims. The real-time insight from Coalition’s Risk Assessment alongside broad insurance coverage provided by Zurich North America offers small businesses and their executives a new level of protection from the fast-moving risks they face.
“We are bringing real-time data to help small businesses stay ahead of their exposures, offering an entirely new approach to executive risks,” said Patrick Mitchell, Head of Executive Risks at Coalition. “Advances like these mean that small businesses can move forward with confidence despite the fast-changing risk landscape.”
New research from Coalition shows the significant opportunity to better reach and serve small businesses. In a survey of 1,000 senior executives at small businesses, Coalition found that over 36% of small businesses experienced a D&O claim in the past two years with the average claim costing over $120,000. Despite this, many businesses remain un- or under-insured. Coalition has invested in broker tools including coverage comparisons, educational content, and policyholder resources to help brokers successfully serve small and midsize clients.
“Combining Coalition’s executive risk analytics with Zurich’s leading D&O and EPL products will allow small businesses to stay ahead of rapidly changing risks and give them confidence in the coverage and backing of a market leading carrier,” said Paul Giliberto, Head of Management Liability – Private for Zurich North America.
Source: Yahoo Finance
