Coalition enhances cyber product with addition of Deepfake Response Endorsement

Coalition, an active insurer focused on preventing digital risks, has added a new Deepfake Response Endorsement to its Cyber Insurance policies worldwide.

“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,” said Tiago Henriques, Chief Underwriting Officer at Coalition.

Adding: “Coalition’s Deepfake Response Endorsement helps businesses respond to and recover from these potentially damaging situations with specialized technical, legal, and reputational support.”

The new endorsement allows brokers to offer clients cutting-edge, comprehensive coverage, enhancing their ability to withstand challenges as the artificial intelligence (AI) landscape evolves.

Coalition explained that with this addition, policyholders can access coverage to respond to this form of digital risk, including deepfakes in which a CEO falsely appears to make inflammatory remarks to damage the company’s reputation or an employee’s likeness is shown speaking negatively about the company’s products to manipulate stock prices.

Michael Phillips, Head of Cyber Portfolio Underwriting at Coalition, commented: “Cyber insurance is designed to respond to evolving digital risk. As new risks like deepfakes arise, they become more sophisticated and tricky to spot.

“It’s crucial for businesses to feel confident that they have a partner who can help them recover from a damaging incident. Our Deepfake Response Endorsement provides clarity around what support would be provided to mitigate the damaging impact of AI-generated impersonations.”

Coalition’s new Deepfake Response Endorsement expands what is covered in Coalition cyber policies by. In response to a deepfake event the expanded coverage will provide technical analysis by a deepfake forensics firm, including a written report regarding the suspected deepfake.

It will also provide legal work to have the deepfake taken down from online platforms, as well as crisis communications support from a public relations firm.

The endorsement is available in the United States, the United Kingdom, Canada (including Quebec), Australia, Germany, Denmark, Sweden, and France.