We're so humbled to have topped the recent Insurance Age broker survey, which highlighted eight cyber providers that brokers said were the best in a highly competitive sector.
CFC scored over 80% across all five categories, which included efficiency in providing new business quotes; quality of underwriting; policy documentation usability and clarity; scope and quality of coverage; and renewals efficiency and fairness. In the scope and quality of coverage in particular, CFC scored 93.18%.
Insurance Age reports that one broker said in their commentary, "CFC offers the best product and most experienced underwriters," while another said, "They are the clear market leaders, have a wealth of historic expertise and offer a mass of risk management tools and sales aids."
While there was a high level of satisfaction with cyber providers across the spectrum, brokers felt that rate hikes and reduced capacity were the biggest challenges they faced. Insurance Age also reports that brokers will be keeping an eye on service levels as the class expands and becomes mainstream.
We will be continuing to tackle these challenges head on through continued investment in our proactive cybersecurity offerings, large in-house cyber incident response team, and technology that streamlines the process for brokers and clients alike.
To read the full recap of insights gathered by the survey, visit the Insurance Age website.
To read more about our cyber offering, visit www.cfc.com/cyber.
