Big “I” Markets, the online market access system available exclusively to Big “I” members, has partnered with Coalition to offer its member agents access to cyber and technology errors & omissions insurance markets.
Coalition is an insurance-enabled technology firm built to help businesses before, during and after a cyber incident. During the online quoting process, the insured’s network and web properties undergo an automated risk assessment to identify known issues and potential weaknesses in the insured’s security posture.
Once coverage is bound, Coalition provides ongoing monitoring for new and emerging threats specific to the information technology used by the insured. All policies include automated alerts, threat intelligence and ongoing policyholder monitoring— along with a claims and security team should a breach occur.
Through the Big “I” Markets platform, any Big “I” member agency can quote and bind cyber insurance online. Big “I” members also have direct access to Coalition’s licensed agents and cybersecurity team via online chat throughout the sales and underwriting process.
In addition to protecting clients with cyber insurance coverage, independent insurance agents can also protect their own liability.
“‘Failure to offer’ continues to be a leading cause of insurance agency E&O claims,” said Jim Hanley, Big “I” director of agency risk management. “Agents need to talk with their commercial clients about cyber liability, and now Big ‘I’ members can use the Big ‘I’ Markets platform to cover most anyone. All agents should offer (and document offering) cyber insurance to all business clients.”
Big I Advantage is a for-profit subsidiary of IIABA and wholly owned holding company that operates a nationally licensed insurance agency administering the Big “I” Professional Liability program, Big “I” Markets and a number of other member options including personal umbrella and flood programs.
The Independent Insurance Agents and Brokers of America(IIABA or the Big “I”) was founded in 1896 and is the nation’s oldest and largest national association of independent insurance agents and brokers.
Coalition offers insurance and cybersecurity tools to help businesses manage and mitigate cyber risk. Backed bySwiss Re Corporate Solutions and Argo Group, Coalition provides companies with up to $10 million of cyber and technology insurance coverage in all 50 states and the District of Columbia.
Topics Mergers & Acquisitions Cyber Agencies InsurTech Tech Professional Liability
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