International underwriter CFC, the largest independent MGA in the London market, is attempting to boost its offering to technology companies worldwide.
The company has today introduced a revamped insurance proposition which it describes as a “significant upgrade” to protect companies against emerging risks. Among its features are cover for breach of client contract, an updated waiver of subrogation condition and a clear allocation of any future recoveries.
In addition, firms taking out the cover will also benefit from CFC’s cyber proposition and its internal cyber incident response team with a nil deductible.
“Our revamped product delivers next generation cover for next generation companies,” said CFC’s head of emerging risk, Matthew Taylor. “The risks faced by tech businesses are changing as rapidly as technology itself and insurance policies have to evolve to reflect this. Having consulted with our broker partners and their clients, we’ve introduced some major enhancements to our existing product and we’re confident that CFC offers technology companies a well-rounded policy that truly meets their needs.”
Other features of the policy include affirmative cover for bodily injury and property damage; cover relating to infringement claims of intellectual property rights; and more.
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Lindsey Nelson, International cyber team leader, CFC Underwriting
