CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, today announces an addition to of its embedded transaction liability product suite with the launch of Buyer Protect.
Last month, CFC launched Seller Protect – the first ever transaction liability insurance product to be digitally embedded into online M&A marketplaces in the USA.
With the addition of Buyer Protect, available on the Flippa.com online marketplace, CFC is now able to offer accessible and economical embedded transaction liability protection for both sides of a micro and SME transaction through online M&A marketplaces - a groundbreaking first for the transaction liability insurance market.
Buyer Protect delivers peace of mind to buyers of micro and SME businesses by protecting them from financial loss arising from a breach of a seller’s representations or warranty where there is evidence that the seller had prior knowledge of the breach. The policy provides cover up to 100% of enterprise value of the business being acquired.
With the launch of Buyer Protect, CFC continues to lead the market in both innovation and transaction liability insurance solutions Gus Marshall, Head of Transaction Liability at CFC
“We’re combining practical technology, deep insurance expertise and a willingness to change the status quo to bring a complex speciality cover to a new and large target market. We’re bringing peace of mind to customers who previously would not have had access to this type of protection, whilst generating valuable new premium for the market.”
Buyer Protect was developed in conjunction with CFC’s innovation team and transaction liability underwriters, with capacity provided by CFC’s dedicated innovation facility using the Lloyd’s ICX risk code.
CFC’s market leading API technology eliminates the need for application forms, emails or traditional underwriting and broking processes. Coverage is provided instantly with no loss of oversight by the underwriter or broker.
Read more about CFC’s transaction liability suite of insurance solutions here.
