Based on research carried out by Insurance Business America who interviewed specialist brokers and surveyed thousands more within its readership, discussing features of cyber policies and measuring insurers on a number of factors, we’re proud that CFC was judged a 5-star cyber insurer in their recent 5-Star Cyber Insurers report.
While many insurance providers obtained five stars in more than one category, CFC was just one of a handful who received five stars in all. These include first-party coverage; third-party coverage; claims payments and processing; underwriting expertise; flexibility and customization of policies; access to risk mitigation partners; and pricing.
While first-party coverage – where the overwhelming majority of cyber claims stem from – was deemed to be the most important thing that brokers looked for when placing a cyber insurance policy, other wishes were expressed too. The publication reports that brokers also want to see more educational opportunities from insurers – whether that’s how brokers should approach non-tech clients about cyber or materials targeted at clients directly that explain the importance of the cover. Brokers also said they hoped to see continued innovation from their cyber insurers as they rise to meet a range of evolving cyber threats.
We’re so excited to take all this on board by doing even more to educate and innovate and will endeavour to continue improving our cyber proposition, from coverage to claims. Thanks to all those who participated in the survey. Our brokers are our backbone and we couldn’t have done it without you!
Want to learn more about CFC’s cyber policy? Visit our product page or check out our other great cyber-related resources.
