Coalition Enhances Cyber Policies with Positive AI Recommendation

Coalition, a leader in active cyber insurance, has recently rolled out a groundbreaking artificial intelligence (AI) endorsement to its cyber insurance policies in the US surplus and Canada. This innovative endorsement broadens the scope of security breaches to encompass incidents triggered by AI, recognizing the role of artificial intelligence in system vulnerabilities. In addition, the endorsement revises the parameters for funds transfer fraud (FTF) to include fraudulent activities enabled by deepfake technology and other AI-driven methods.

Shawn Ram, head of insurance at Coalition, emphasized the importance of this enhancement, stating that it brings clarity to coverage for AI-related incidents. As threat actors increasingly utilize AI in cyber attacks, this affirmative AI endorsement by Coalition is a proactive response to the shifting risk landscape. Henriques, Coalition's research head, highlighted the dual impact of AI on cybersecurity, pointing out its potential to bolster defense mechanisms and fortify cybersecurity measures.

He underscored the pivotal role of AI technologies in shaping the future of digital risk and technology. The artificial intelligence endorsement by Coalition is now available for integration into any cyber insurance policy in the US surplus and Canada, providing added protection against AI-related risks.