Coalition Adds Deepfake Response Endorsement

PRODUCT: Coalition’s Deepfake Response Endorsement.

COMPANIES: Coalition, with capacity provided by multiple organizations.

AVAILABILITY: Appointed agents and brokers only.

FOCUS: In recent years, cyber threat actors have used deep fakes—artificial intelligence (AI)-created images, videos and audio containing false information—to impersonate executives and employees. The risk of financial and reputational harm from these incidents is only growing as new technology makes deepfakes more convincing and easier to create. As a result, Coalition has added Deepfake Response Endorsement to its cyber insurance policies globally.

“Businesses can do everything right—lock down networks, ignore fraudulent funds transfer requests, comply with privacy laws—only to have their reputation damaged by a deepfake,” says Tiago Henriques, chief underwriting officer at Coalition. “Coalition’s Deepfake Response Endorsement helps businesses respond to and recover from these potentially damaging situations with specialized technical, legal and reputational support.”

COVERAGE DETAILS: The Deepfake Response Endorsement expands Coalition’s coverage to respond to a deepfake event and provides technical analysis by a deepfake forensics firm, including a written report regarding the suspected deepfake, legal work to have the deepfake taken down from online platforms and crisis communications support from a public relations firm.

UNDERWRITING: This new endorsement is built into Coalition’s base nonadmitted cyber policy for no additional premium. It amends the Impersonation Fraud insuring agreement and provides up to $250,000 in coverage.

TARGET: This product is available to all nonadmitted Coalition policyholders.

COVERAGE AVAILABILITY: The nonadmitted product is available in all U.S. states. This coverage is also available in Coalition’s international markets—Canada, U.K., Australia, Germany, Denmark, Sweden and France—with relevant regional limits.

CONTACT: Brokers can receive a quote in minutes through Coalition’s Broker Platform or email a completed application.

Will Jones is IA editor-in-chief.