As the phrase goes, if it’s not broken, don’t fix it.
That seems to be the case for BIBA’s member cyber insurance scheme – which has just been renewed with CFC Underwriting. Originally launched back in 2004, the scheme sees the MGA provide support and guidance on cyber issues to members and included the launch of a cyber insurance guide back in 2018.
In turn, BIBA members are able to offer businesses of all sizes protection against the rapidly growing threats in the cyber space, something that has only taken on added importance amid the coronavirus pandemic.
“Cyber insurance has never been more relevant and important for UK businesses, and we’re committed to making it simple and accessible for our broker partner,” said Pat Brice, distribution director at CFC. “We’re absolutely delighted to extend our successful partnership with BIBA.”
Meanwhile BIBA head of technical services Mike Hallam outlined the importance of continuing to provide support for such a complex product.
“The wording, risk management and expert claims assistance from CFC are held in the highest regard with BIBA members, and across the cyber sector,” he said. “CFC do not sit on their laurels, they continue to look to innovate their products and services.”
