Our cyber policy achieved the highest score in the review test, scoring 90 out of 100 points, and marking us out as the only provider to receive the publication’s superior cover rating – with the highest level of coverage available for the SME market.
We were called out in particular for the wide range of risks that we cover (the broadest of all the policies reviewed for this report), insuring against everything from business interruption to reputational damage following a breach. Given the pace at which cyber risk is evolving, maintaining up-to-date and relevant coverage is a constant focus for our team.
Our policy also received particular recognition for the fact that it does not include exclusions for cyber events arising from terrorism or socially motivated hacking, nor an aggregate limit that would otherwise restrict cover in the event of multiple cyber breaches within a single policy period.
Some of the additional benefits that we offer, extending above and beyond the rating criteria used in this report, are:
– Enhanced cyber crime definitions that include cover for theft of funds.
– Provision of a range of crisis management and other incident response services, such as forensic IT investigations, legal services, breach notification and crisis communications, as well as a dedicated app that provides 24/7 access to CFC’s global cyber incident response centre.
Beyond this, we are particularly pleased to have been recognised for our “clear and concise” policy wording. This is so important, and core to our DNA. A commitment to simplicity avoids any confusion around which scenarios are covered and which are not.
As the nature of crime changes, so too must insurance policies. We’re on it – and leading the way.
Click here to read the 2018 Report
This report was reproduced with permission from Insurance Times. All rights reserved. No part of this publication may be reproduced or transmitted in any form, by any means, electronic or mechanical, including recording, photocopying or any information storage or retrieval system, without written permission from the publisher.
