Coalition launches free cyber risk assessment tool

Coalition, a cyber insurance company for small and midsize businesses, has launched a free, publicly available cybersecurity and risk assessment tool that assesses the expected probability and severity of a security incident for a company.

Using Coalition’s proprietary underwriting platform and claims data, the Cyber Risk Assessment evaluates an organization’s cybersecurity standing relative to other Coalition policyholders and provides clear cut steps for companies to reduce their risk.

The assessment alerts companies about critical software vulnerabilities, exposed databases and infrastructure, malware infections, and lookalike domain registrations, and provides tailored security recommendations to prevent ransomware, data breaches, and social engineering attacks, among other features.

Coalition said that policyholders taking these proactive steps experience less than half the frequency of cyber insurance claims as the overall market, per data from the National Association of Insurance Commissioners.

“The mission of Coalition has always been to solve cyber risk,” said Joshua Motta, founder & CEO of Coalition. “This means not only helping companies prevent security incidents, but also helping them survive them. This free tool is the first of many we hope to make available to the broader business community.”

Unlike traditional security assessments that provide scores or grades with little or no specific direction on how to improve security, Coalition’s Cyber Risk Assessment includes a ranking that measures a company’s likelihood of a cyber incident based on its similarity to companies having previously filed a cyber insurance claim, along with actionable recommendations that are observed to have drastically lowered the probability of criminal targeting and cybersecurity failures.

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