Security News > 2020 > January > Cyber Insurance Provider Coalition Acquires BinaryEdge
Coalition, a San Francisco-based cyber insurance provider for SMBs, on Wednesday announced that it has acquired internet scanning and threat intelligence services provider BinaryEdge.
Coalition is backed by insurers Swiss Re Corporate Solutions, Lloyd's of London, and Argo Group, and it provides customers in the United States up to $15 million of cyber and technology insurance coverage.
BinaryEdge's scanning tech is now being used to continuously monitor over 10,000 organizations that signed up for Coalition's insurance services.
"No other insurance provider can provide the breadth of coverage, the ongoing 24/7 monitoring of an organization's Internet threat surface, and the tools and services to help prevent and mitigate cyber incidents."
Motta added, "Coalition will be making significant investments in the BinaryEdge platform, and we've already doubled the size of the team working on it. This will result in notable improvements and new features for BinaryEdge's existing customers, all of whom we're also happy to insure on the Coalition side!".