GlobalData
1 min read
CFC, an insurance provider specialising in emerging risks, has expanded its Cyber Proactive Response (CPR) coverage to current policies catering to the digital health, fintech and technology sectors.
This move is effective immediately.
It provides services to prevent cyberattacks, directly included within the policy terms, as well as supports events related to AI.
For technology and fintech companies, the coverage includes compensation for income or fees lost due to unsuccessful bids.
Furthermore, the policy covers emergency continuity costs to help businesses stay operational during and after cyber incidents, focusing on digital health providers.
CFC deputy chief underwriting officer Tim Boyce said: “Given their exposure, it made sense to immediately enhance the tailored coverage we offer to key sectors by replacing existing cyber wordings with our newly launched CPR coverage.
“The positive impact of incorporating our CPR coverage into our policies cannot be overstated. A cyber incident in any of these sectors could result in significant privacy breaches, immediate financial losses, reputational damage, and in the case of digital health, even risk to human life. Our new cyber wording not only helps prevent attacks but also ensures our expert in-house teams can respond swiftly to minimise disruption and get businesses back on track.”
Earlier this month, CFC launched a simplified intellectual property (IP) insurance policy, targeting businesses of various sizes, from start-ups to those with turnovers up to £500m ($657.46m).
This policy covers the defence and pursuit of infringement claims, contractual indemnities, and compensation for the loss of IP rights and profits.
"CFC expands cyber cover to include sector-specific policies " was originally created and published by Life Insurance International, a GlobalData owned brand.
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