CFC launches new cyber product with 30 enhancements

CFC, a specialist insurance provider focused on emerging risks and cyber, has launched a new cyber product, Cyber Proactive Response (CPR), aimed at businesses with revenues up to £250 million.

CPR delivers broad and clear cyber coverage, with 30 enhancements and the removal of six exclusions.

James Burns, Global Head of Cyber at CFC, said, “Having pioneered the concept of turning cyber insurance on its head to deliver a proactive service rather than a reactive policy, we’ve spent the last five years not only strengthening this proposition but also listening to what our brokers and their clients tell us they need. The launch of our new Cyber Proactive Response product is the culmination of that effort.”

CFC’s CPR policy ensures that policyholders have access to unlimited reinstatements with zero excess.

For a lower premium, clients can choose to pay only one deductible, regardless of how many cyber events occur during the policy term. CPR removes the cap on what CFC will pay while setting a cap on the amount clients must pay beyond their premium.

Burns explained, “It’s been the norm for cyber insurers to cap what they will pay by aggregating the limit available under the policy while uncapping what an insured might have to pay, by making the deductible applicable to every single claim.

“But in a world where it’s increasingly possible to suffer a cyber event multiple times throughout the life of a policy, we want to reverse that dynamic and remove the burden for insureds by capping the amount they will have to pay.”

CFC is the first cyber insurer to include proactive cyber attack prevention services within the insurance policy wording. This shifts the focus of cyber policy comparisons from coverage alone to the additional services within the insurance language, which are a major draw for many SMEs purchasing cyber insurance.

Burns added, “While including brand new elements of cover to now offer what we think is the broadest, most accessible cyber insurance policy available in the global market today, we recognise that fewer exclusions in a policy is equally important. While CFC has a track record of accepting 99% of all cyber claims, we want our clients to have complete confidence that we will be there for them at that critical moment when an incident strikes. CFC is on a mission to try and remove as many exclusions as possible from all our policies, and we’ve struck six from this new cyber product.”

Among the 30 coverage enhancements, CPR includes interim payments for business interruption, income loss from lost or missed bids, affirmative coverage for AI events, theft of physical goods and invoice manipulation, full system failure coverage, emergency continuity costs, and contingent bodily injury coverage.

In the coming weeks, CFC will launch a global education program for brokers, offering resources, webinars, and events featuring case studies of triggers and clauses in action, along with tools to help brokers understand the benefits CPR offers to their clients.

Burns concluded, “I’m hugely proud of the hard work the team has put into bringing Cyber Proactive Response to the market.

“We’re reinventing cyber coverage by building proactive into the heart of the policy, introducing world first elements of cover and removing exclusions. It is a game-changer for the cyber insurance industry.”

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