Menu

SMART HOME FEATURE NEWS

Coalition to Offer Cyber Insurance for Smart Buildings

By Ken Briodagh May 31, 2018

Coalition, a technology-enabled cyber insurance solution, is announcing what it’s calling the first cyber insurance offering specifically designed to address emerging risks facing real estate developers, property managers, and other businesses across the real estate industry.

“Over one billion IoT devices and sensors will be installed in commercial buildings by the end of 2018. So called “smart buildings” offer enormous safety and productivity benefits, but also come with new security risks,” said Joshua Motta, Founder & CEO, Coalition. “As buildings are transformed into enormous computer systems, it is no longer inconceivable that cyber criminals could gain access to and control HVAC, sprinkler, and refrigeration systems, or other mechanical processes. If not properly protected, unauthorized access of these systems could expose building owners and their occupants to risks of data breach, bodily harm, property damage, and even pollution. With Coalition for Real Estate, we’ve specifically addressed these new exposures.”

Offered under the umbrella of Swiss Re Corporate Solutions and Argo Group, Coalition has said it is providing a full suite of cyber security apps and up to $10 million of comprehensive cyber insurance coverage to businesses across the real estate industry.

Features of Coalition for Real Estate include:

  • Risk Assessment: Coalition’s underwriting platform utilizes tens of thousands of data points to assess the risk surface of a company or smart building in a matter of minutes, including a review of exposed Internet-connected IoT devices. Risk assessments are made available to all clients, and include remediation assistance.
  • Premium Discounts: Existing security controls and measures are taken into account automatically during the underwriting process, and may result in a reduction of the policy premium.
  • Bespoke Policies: All Coalition policies can be customized to the specific exposures of a firm or building, including coverage for data breach, bodily injury, property damage, and pollution in the event of a security failure. IoT devices are affirmatively covered across all coverages.
  • Coalition Apps Platform: All policies include a number of cyber security tools available at no additional cost, including: Threat Monitor App and Patch Monitor App
  • Security expertise: Coalition’s dedicated team of security specialists is available to proactively assist policyholders, and to help ensure resiliency in the event of a cyber security failure.

Ken Briodagh is a writer and editor with more than a decade of experience under his belt. He is in love with technology and if he had his druthers would beta test everything from shoe phones to flying cars.

Edited by Ken Briodagh
Get stories like this delivered straight to your inbox. [Free eNews Subscription]

Editorial Director

SHARE THIS ARTICLE
Related Articles

Secure Home, Sweet Home: A Quick Look at Kwikset's New Smart Lock Offerings

By: Alex Passett    2/7/2025

Smart home security products provider Kwikset announced two new Z-Wave locks: the HomeConnect 918 and HomeConnect 620. Learn more about IoT-powered sm…

Read More

A Smart Initiative: OEL and TP-Link to Strengthen and Expand IoT Manufacturing Capabilities via Partnership

By: Alex Passett    1/27/2025

Optiemus Electronics Ltd (OEL) and TP-Link announced their official partnership agreement that is specifically focused on manufacturing networking dev…

Read More

A Smart Before-the-Holidays Decision: Arlo and Allstate are Boosting Peace of Mind with New Home Security Bundle

By: Alex Passett    11/6/2024

Smart home solutions company Arlo Technologies has officially teamed up with Allstate to offer "The Arlo Total Security bundle for Allstate," which co…

Read More

Taking Smarter Audio Experiences by Storm: Dirac Appoints Industry Veteran as its New CEO

By: Alex Passett    8/29/2024

This morning, smart home audio systems developer Dirac officially announced the appointment of Anders Storm as its new CEO, effective immediately.

Read More

Upgraded Interoperability for Smart Home Devices, Courtesy of New InnoPhase IoT Integration

By: Alex Passett    8/28/2024

InnoPhase IoT announced the availability of its Matter v1.2 platform now combining STM32U5 and its Talaria TWO Wi-Fi solution.

Read More