Coterie Insurance, a leading insurtech MGA focused on streamlining small business insurance, has announced the introduction of cyber insurance on its platform. This new coverage is made possible through a partnership with Berkley Re Solutions and TransUnion’s TruEmpower Cyberscout solutions. The collaboration enables Coterie to offer comprehensive cyber insurance services while maintaining its seamless user experience for agents and brokers.
Bobbie Collies, Chief Insurance Officer at Coterie Insurance, emphasized the importance of expanding coverage options, noting that small businesses are increasingly vulnerable to cyber threats. “Our agents and brokers have been asking for more protection as cybercriminals continue to target small businesses,” she said. “With this partnership, Coterie users can now quickly add cyber insurance to their policies, offering additional protection for their clients.”
Cyber insurance claims surged in 2023, with more businesses falling victim to cyber incidents, according to the HIPAA Journal. Berkley Re Solutions, a leader in cyber coverage, offers a range of services, including fraud and credit monitoring, identity protection, and risk management education. These services, powered by TransUnion’s Cyberscout, help small businesses prepare for and respond to cyber incidents.
Christopher Ellis, SVP and Head of Turnkey Solutions at Berkley Re Solutions, expressed enthusiasm about the partnership, highlighting how their combined expertise enhances protection for small business clients.
In the event of a cyberattack, Cyberscout provides claims management, incident response, and forensics services, helping businesses navigate the aftermath of a breach. Business owners can also access a self-assessment survey and safety tips through Cyberscout’s customer portal.
This new offering allows Coterie agents and brokers to obtain cyber insurance quotes alongside other policies, making the process simple and efficient for all.
