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Independent Insurance Agents and Brokers of America Inc. members will offer cyber and technology errors and omissions coverage under a partnering arrangement its online market access system, Big I Markets, has made with managing general agent Coalition Inc.
Under the arrangement, any Big I member agency can quote and bind insurance online through the Big I Markets platform, according to a statement issued Tuesday by Big I Advantage, a for-profit subsidiary of Alexandria, Virginia-based IIABA and San Francisco-based Coalition.
Coalition, which provides companies with up to $10 million of cyber and technology insurance coverage is backed by Swiss Re Corporate Solutions Ltd. and Argo Group International Holdings Ltd.
“Cyber risks are becoming more pervasive and devastating, yet most small businesses remain unprotected,” said Paul Buse, president of Big I Advantage, in the statement.
Cyber security firm Coalition Inc. is introducing two proprietary insurance products for cyber and technology errors and omissions as a managing general agent for Swiss Re Ltd. and Argo Group International Holdings Ltd.