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MGA offers cyber coverage for real estate sector

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Managing general agent Coalition Inc. said Thursday it is offering cyber coverage for real estate developers, property managers and other businesses in the real estate industry.

Features of its new product include risk assessment, premium discounts that take existing security controls into account, customized policies, and a mobile application platform that includes a threat monitor app and a patch monitor app, the San Francisco-based company said in a statement.

The threat monitor app identifies and alerts customers to new “internet of things” devices on their properties and networks that are exposed to the internet, while the patch monitor app scans for out-of-date software and alerts customers when new vulnerabilities, updates and patches are announced. Coalition also offers a team of security specialists to proactively assist policyholders, according to the statement.

Coalition provides companies with up to $10 million of cyber and technology insurance coverage, the company said.

The MGA is backed by Swiss Re Corporate Solutions Ltd. and Argo Group International Holdings Ltd.