London & New York –September 19th 2024 – CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, announced today the launch of a brand new insurance solution designed to meet the evolving needs of US manufacturers.
This new comprehensive package from CFC represents a market-first combining not just E&O but also cyber, pollution, liability, media and advertising injury, and intellectual property protection all under one policy.
In addition to addressing potential gaps in cover for losses that may not be fully addressed by a manufacturer’s general liability or product recall insurance policy, the cyber protection afforded to policyholders includes a host of free value-adds from proactive threat intelligence and security alerts to bespoke risk management services all delivered through CFC’s award-winning mobile app, Response.
“The environment in which US manufacturers operate has evolved dramatically over recent years with the introduction of advanced technologies and new service models, throwing up new exposing that traditional policies simply don’t respond to,” explains Tim Boyce, Head of Professions & Healthcare at CFC. “They are increasingly adopting digital technologies in their products which introduce new risks. At the same time, they’re facing rising contractual demands, as well as new regulation, meaning they really do need E&O cover. And many have expanded the value-added services they offer, increasing their exposure to professional liability claims.
“Our new policy recognizes the shift that has taken place in this sector from being purely production focused to now offer an integrated service provision, and is specifically tailored to meet their evolving needs.”
Key features of CFC’s new solution include:
- Third-party financial loss resulting from failure of a product to perform its intended function as a result of human or technological error or the use of defective materials
- Professional liability cover for ancillary advice or services rendered in relation to the manufacturing of the product
- Privacy and cybercrime cover that includes proactive protection from cyber threats and incident response services
- Pollution liability at third-party sites resulting from the manufactured product
- Media liability including cover for claims such as defamation and licensing breaches
- Intellectual property protection against trademark and copyright infringement claims
- Cover for value-add services such as product design, design advice, product lifecycle management, supply and logistics consulting, prototyping, product testing, installation and maintenance, and product training
Boyce concludes: “The comprehensive coverage it provides, including cyber, combined with our proactive risk management and superior claims support means that brokers can now deliver a comprehensive solution that is fit for purpose to their manufacturing clients.”
Read more about CFC’s enhanced proposition for US manufacturers here.
About CFC
CFC is a specialist insurance provider, pioneer in emerging risk and market leader in cyber. Our global insurance platform uses cutting-edge technology and data science to deliver smarter, faster underwriting and protect customers from today’s most critical business risks.
Headquartered in London with offices in New York, San Francisco, Austin, Toronto, Brussels, Sydney, Melbourne, Perth and Brisbane, CFC has over 950 employees and is trusted by more than 150,000 businesses in 90 countries. Learn more at cfc.com and LinkedIn.
