CFC launches North America sexual abuse coverage

CFC said Wednesday it launched broad sexual abuse and molestation liability coverage in North America.

Safeprotect Misconduct Liability covers an insured entity for an employee’s wrongful act against a third party or for failure to supervise.

CFC has recruited former Tysers executive Lee Abraham as senior SML underwriter to lead the new line of business.

Limits of up to $10 million are offered, with a minimum premium of $1,000. Both primary and excess coverage on a non-follow form is available.

CFC has partnered with Praesidium to offer policyholders prevention and crisis response services.

The policy covers the costs of retaining specialist public relations consultants to counter reputational damage and the costs incurred attending court, tribunals, adjudication, mediation or other hearings connected with a claim.

“More businesses are contractually obligated to have cover against these events, yet there has been a real lack of capacity in the insurance industry to deliver solutions that are fit for purpose,” Mr. Abraham said in a news release.

CFC can consider a sublimit for assault and battery coverage.