We now have a 24/7 privacy breach hotline

We now have a 24/7 privacy breach hotlineLaunched in partnership with Baker Hostetler, our new privacy breach hotline offers US insureds immediate access to high quality advice in the event that they suffer a privacy breach.

Navigating a breach for any organisation, whether big or small, in startup phase or well-established, can be unbelievably timely and expensive, not to mention the variety of constantly changing federal and state laws which can be difficult to keep track of.

The CFC hotline will help to solve these issues by providing immediate access to 24/7 expert privacy lawyers who collectively have experience of hundreds of breaches. These lawyers will provide a wide range of advice including assessment of legal and contractual notice obligations, management of contact with impacted parties, advice on how to minimise the potential for lawsuits and regulatory enforcement actions and assistance with defence against assessments by the card companies.

This new service is not “one size fits all” either. Our legal experts will help tailor the right response for each individual client, not only helping businesses to recover and get back online following a breach, but to keep them one step ahead of the game by ensuring that they are educated as to the potential risks and their legal obligations.

Want to learn more about this exciting new service? Simply click here to email us.

CFC launches new excess insurance policy

CFC launches new excess insurance policyWe know that accessing quality excess capacity can be tricky for many of our broker partners, especially for regional firms and those outside the UK. That’s why we are so pleased to announce the launch of our new excess insurance policy, XS.

Although CFC has traditionally written business on a primary basis, we have responded to numerous requests from our worldwide broker network to extend our capability to write excess business. Excess also seemed to be a natural extension of what we already offer. Not only will our brokers receive the same speed of response and ability to access information as quickly and simply as they do on their primary business, but they’ll also benefit from the same broad appetite.

XS is available across our entire product range and across all the territories where we do business, from the UK and Europe to North America and Australasia. If you have any questions about this new offering, shoot us an email by clicking here and we’ll do our best to get back to you quickly.

PRO revamped for the US and UK

PRO revamped for the US and UKDesigned to make targeting miscellaneous professional business an attractive proposition for brokers, PRO offers a quick and easy buying process for most small and medium-sized professional risks and our team is also happy to consider very specialist or unusual professions, from health and safety consultants to bookkeepers.

In addition to professional indemnity, PRO offers a comprehensive office package including general liability, employers’ liability, business interruption and property cover. Full civil liability coverage is provided with unambiguous cover for breach of a client contract and there’s specific protection for breach of intellectual property rights along with virus and hacking liability cover.

To learn more about what PRO has to offer, or to request a brochure or application form, click here to email our Senior Professions Underwriter, Simone Palmiero.

Another year, another great CFC Pool Night

Another year, another great CFC Pool NightCongrats to Media Insurance Brokers who beat the tricky Howden team to pull out a victory.

We had yet another wonderful CFC Pool Night, an annual pool tournament held underground at the City’s Crypt Bar. We started with 20 promising teams, but alas, only one could prevail. Media Insurance Brokers adds its name to the long list of past victors so please join us in congratulating them!

To all who were able to attend, thank you for coming out for the night. It was wonderful greeting old faces and meeting some new ones. If you haven’t been to the Pool Night before and think you might be interested and available for next year’s tournament which takes place at the end of January in London, feel free to shoot us an email by clicking here.

CFC Recruits New Head of Management Liability

CFC Recruits New Head of Management LiabilityIn order to spearhead the growth of CFC’s emerging management liability product suite, we have appointed Kate Lyes, former London Manager of Executive Protection at Chubb Insurance. Kate will be responsible for defining our management liability strategy and underwriting approach whilst also creating a collection of tailored products for specific industry verticals.

Management liability policies are highly complex so it is critical that brokers work with a partner that will consult with clients to truly understand the individual nuances of their business and potential exposures. Kate’s appointment highlights CFC’s commitment to developing our management liability offering. We are known for our specialist approach and are looking forward to applying the same level of expertise to this area as we do with all our products.

Kate Lyes said: “I am delighted to be joining the team at CFC. The increasing demand for innovation in the management liability arena presents a real opportunity for us to take a market leading position. I am thrilled by the prospect of working with true innovators in the underwriting market.”

More Canadian docs available in French

More Canadian docs available in French! Last year, we successfully launched four of our best-selling Canadian products in the French language. Given their popularity, we’ve translated the rest of our Canadian brochures and application forms and they are all now available on our website. Along with our entire tech and media suite, we’re now offering PRO, A&E, A&M, LTC, R&D and MD in French.

To view the full list, simply go to our products page, click on North America on the map and select “Canada (French speaking)”.

New product designed just for PEOs

New product designed just for PEOsWe’re happy to announce the launch of PEO, a dedicated policy for professional employer organisations in America.

Unique to the US, professional employer organisations or PEOs handle the HR functions, including payroll services and employee benefits of many businesses. But when it comes to getting insurance that’s been designed with their unique exposures in mind and doing so quickly and easily, there are few, if any, policies to choose from.

That’s why we’ve built PEO, a comprehensive policy which has been designed specially for PEOs and is the perfect complement to their separate EPL policies. This means that the form isn’t a miscellaneous PI form with confusing amendments or exclusions, but that the policy wording details the precise risks with which PEOs are concerned.

PEO is a modular package which includes errors and omissions, commercial general liability, cyber and privacy liability, property cover and business interruption insurance. All this plus clear, unambiguous cover for breach of client contract and much more.

To learn more about PEO and specific areas of cover, click here to email us.

Cloud computing is a growing cyber risk

Cloud computing is a growing cyber riskAlthough it sounds ethereal, cloud computing is very real and is rapidly being adopted by hundreds of thousands of businesses around the world. With the use of applications like Salesforce, as well as social media sites like Facebook and LinkedIn, nearly every business has data on a cloud provider, whether they realise it or not.

Outsourcing data, however, is quickly becoming a growing issue. When companies choose to place their data on cloud services, contracts are rarely negotiated meaning standard protections are often not put in place. Control is simply given away, and companies have to rely largely on faith that their most precious commodity will remain safe and secure. However, accidents happen and some of the largest cloud operators, including Dropbox and Amazon Web Services, have suffered significant data breaches.

The problem is that most cyber liability policies are focused on the client’s own systems, not those of third parties. In fact, many cyber insurances use outdated forms which do not address emerging privacy risks like outsourced data storage, even though these risks make up such a large part of a company’s cyber exposure.

Recogising this gap in cover, we’ve updated our CPM product to include cover for data stored in the cloud. This means that regardless of how or where your data is stored our policy will respond.

To read more about this in Insurance Journal, click here. For the article in Insurance Age, click here. Alternatively, click here to email us with any questions you may have.

2011 CFC Christmas promotion was a huge success

1st place: Aliya Daya, Rogers Insurance
In the insurance business: Risk = Threat x Vulnerability x Impact... ooh don't think about impact...

This year, we asked brokers to take a picture with the theme “risky situations” and submit the photo along with a caption for voting on our promotional blog. Those with the three highest vote counts at midday on Tuesday, January 3rd would win three fantastic prizes!

We got tons of fantastic entries and close to a thousand votes were cast but alas, only three could claim a prize. Here they are:

First: Aliya Daya, Rogers Insurance (Right) (iPad 2)
Second: David Gray, Jones Brown (Nikon P500 Camera)
Third: Joe Smith, Crouse and Associates (Amazon Kindle)

Besides some awesome photo submissions, you can also see last year’s winners, an array of pathetic Christmas jokes and other festive entertainment on the blog. It’s still up and running so feel free to check it out. Simply go to www.cfcpromotions.com and to those of you who participated, thank you!

CFC picks up Underwriting Team of the Year at the London Market Awards

Lloyd’s MGA CFC Underwriting has been announced as Underwriting Team of the Year at the prestigious London market awards.CFC is so pleased to announce that it’s been voted Underwriting Team of the Year at the prestigious Insurance Day London Market Awards. This follows 2010’s British Insurance Award for Underwriter of the Year.

Managing Director, David Walsh collected the award on the night. He commented: “I’m very proud to accept this award on behalf of everyone at CFC. We don’t do what we do to win awards, we do it because we strive for the best for our brokers and their clients, but it’s humbling to receive this recognition from the heart of the London market insurance establishment. We’re delighted.”

In considering this award, the notable panel of judges were looking for the company that had achieved what was in their words the ‘remarkably difficult task’ of delivering great service for brokers, ground breaking products and strong growth. CFC ticked all the boxes.

The award was presented on 1st December 2011 at London’s Grosvenor Hotel in a glittering ceremony to mark the tenth year of this most prestigious and hotly contested event.