Coalition Offers Cyber Insurance for Nonprofits

Comprehensive Coverage And Risk Management Tools Tailored For Charitable Organizations

SAN FRANCISCO, CA – (September 28, 2018) — Coalition, the first technology-enabled cyber insurance solution, today announced Coalition for Nonprofits, a cyber insurance offering specifically designed to help charitable and volunteer-based organizations address and mitigate cyber risks.

“Nonprofits do great things in our society, but this does not exempt them from cyber incidents; they face the same exposures as any for-profit organization, often with fewer resources to defend themselves,” said Joshua Motta, Founder & CEO of Coalition. “From donation processing to online volunteer scheduling, the risk exposures of nonprofits have grown exponentially as they’ve embraced technology. Any breach of sensitive donor information, highly prized by cyber criminals, can be extremely costly and devastating reputationally for a class of organizations that depend upon the confidence of their donors and supporters. Any cyber incident could result in substantial liability, income loss, or reputational harm, among other exposures.”

Offered with the financial strength of Swiss Re Corporate Solutions and Argo Group, Coalition provides up to US$10 million of comprehensive cyber insurance coverage designed to cover a broad array of exposures, including regulatory defense, breach costs, cyber extortion, business interruption, funds transfer fraud, and computer replacement, among others, as well as a full suite of cyber security tools for small to midsize organizations.

“Cybersecurity is expensive, and most nonprofits lack the budget or personnel to establish a dedicated security program. Yet now more than ever, it is essential that they protect themselves and their reputations,” Motta adds. “Coalition for Nonprofits is designed to specifically address these needs, providing comprehensive insurance coverage and security tools tailored to a charitable organizations’ unique needs – all at an affordable price.”

Features of Coalition for Nonprofits include:

Risk Assessment: Coalition’s underwriting platform utilizes tens of thousands of data points to assess the security posture of an organization in a matter of minutes. This review includes a scan of all software and systems exposed to the Internet, including payment processing, remote access, and volunteer coordination systems. Risk assessments are made available to all clients and include remediation assistance at no cost.
Premium Discounts: Nonprofit customers receive a 15% discount on their Coalition insurance premium. This discount is applied automatically at the time of quotation and is provided in addition to other discounts that might be available, such as discounts for implementing effective security controls.
Bespoke Policies: All Coalition for Nonprofits policies are customized to the specific exposures of charitable organizations, including coverage for volunteer workers, computer replacement costs, consequential reputational loss, PCI fines and penalties, and property damage, among others.
Coalition Apps Platform: All policies include a number of cybersecurity tools available at no additional cost:
- DDoS Mitigation: protects an organization against loss of income during a denial of service attack,
- Credential Monitor: alerts organizations when an employee’s password or identifying information is stolen and may be used by a cyber criminal,
- Patch Monitor App: scans for out-of-date software, and alerts organizations when new vulnerabilities, updates, and patches are announced,
- Threat Monitor App: passively monitors for signs of phishing activity, anomalous network and DNS activity, domain monitoring, and other indicators of malicious activity,
- Among other apps.
Security expertise: Coalition’s dedicated team of security and claims experts are committed to getting organizations back up and running following a cyber incident. This same team is available as a pre-breach resource to help implement security and loss controls, all available at no additional cost.

A wide variety of food banks, churches, social service organizations, and other donor service organizations are among the nonprofit customers already benefiting from Coalition’s unique approach to cyber risk management. Among them is Unbound, an international nonprofit organization bringing people together to challenge poverty in new and innovative ways.

“Through our relationship with Coalition, we’re proactively taking measures to protect our donors, as well as the future of our organization,” said Bill Hansen. “As a group working hard to put every dollar possible into our programs and services, safety and savings are equal priorities. Coalition for Nonprofits gives us a comprehensive cyber solution at a competitive rate, and with that comes enormous peace of mind.”

Information about Coalition’s full suite of cyber insurance tools and cyber security apps can be found on the company’s website.

About Coalition

Coalition, the cyber risk solution from Joshua Motta and John Hering, combines comprehensive insurance and free cybersecurity tools to help businesses manage and mitigate cyber risk. Backed by A+/A rated insurers Swiss Re Corporate Solutions and Argo Group, Coalition provides companies with up to $10M of cyber and technology insurance coverage in all 50 states and the District of Columbia. Coalition’s cyber risk management platform provides automated security alerts, threat intelligence, expert guidance, and tools to help businesses remain resilient in the face of cyber attacks. Coalition is headquartered in San Francisco. For more information about Coalition, visit www.thecoalition.com or follow us on Twitter @SolveCyberRisk.