Coalition Re, the standalone cyber reinsurance intermediary of Coalition, has announced its Live Event Response offering, a new reporting capability that alerts cedants when policyholders may be exposed to an unfolding cyber event, such as a zero-day vulnerability.

Diana Liu, Coalition Re’s Head of Underwriting, commented, “Most recently, we notified our cedants of policyholders in their portfolios being impacted by a pair of critical vulnerabilities in Cisco ASA firewall devices. These vulnerabilities were observed to be actively exploited in the wild and were confirmed to impact hundreds of devices used by the US Government.

“These types of aggregating vulnerabilities – ones we have first-hand knowledge that attackers are exploiting – are crucial for our cedants to be aware of so that they can mitigate the active threat across their portfolio and reduce their cumulative exposure.”

Live Event Response alerts are delivered through Coalition Re’s continuous, global, internet-wide scanning of digital connections and are reserved for select, high-risk vulnerabilities.

While these reports do not confirm a breach or loss, they act as an early warning system, highlighting which insureds may require attention to prevent compromise and the actual materialisation of loss.

Liu added, “While direct contact with the insured in the first 72 hours of a discovered vulnerability is the most critical and effective at preventing loss, control of the client relationship always remains with our carrier partners.”

The Live Event Response feature follows the earlier launch of Coalition Re’s Helios platform, which provides cedants with visibility into critical technology and third-party supply chain vendor accumulations.

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