Mitsui Sumitomo Insurance, Coalition expand cyber insurance in Australia

Coalition has brought its Active Insurance model to over 1,400 policyholders.

Mitsui Sumitomo Insurance (MSI) and Coalition Insurance Solutions expanded their multi-year capacity agreement, to deploy cyber insurance capacity in Australia beginning 1 January 2025.

This agreement expands on the companies' existing collaboration on cybersecurity solutions for small and medium-sized enterprises (SMEs) in Japan.

Since its Australian launch in November last year, Coalition has brought its Active Insurance model to over 1,400 policyholders, helping Australian SMEs improve their cyber resilience.

“By leveraging Coalition’s innovative strategies alongside our expertise and unrivalled presence in Asia, we aim to set a new standard for cyber insurance across the region. Our collaborative model will not only enhance our offerings but also empower businesses throughout the region to effectively manage and mitigate digital risks,” said Clemens Philippi, chief executive officer of MSIG Asia, a wholly-owned subsidiary of MSI.