CFC launches cyber insurance guide for brokers at BIBA 2018

BIBA press releaseSpecialist insurance provider behind BIBA’s cyber insurance scheme, CFC, will be launching its new BIBA Cyber Guide at BIBA 2018.

While one of the most talked about topics in business insurance, cyber insurance also seems to be one of the most misunderstood. CFC’s new guide aims to cut through the jargon and buzz words and bring simplicity to what has long been considered a complex line of business.

NOW AVAILABLE: Click here to read the BIBA Cyber Guide

“Cyber insurance policies tend to be modular in nature, consisting of a variety of different coverage areas so it’s no wonder that this has led to confusion around what they cover and how they work,” says James Burns, Cyber Product Leader at CFC. “We’ve worked with BIBA to produce this straightforward guide providing brokers with clear information about what cyber is all about and how they can articulate it to their clients.”

CFC’s BIBA Cyber Guide gives brokers simple information about what cyber actually means and how this area of insurance has evolved. It covers the types of cyber risks and types of cyber claims, drilling down into how a policy responds and providing brokers with some valuable tips on how they can overcome the most common objections they face when discussing cyber with their clients.

To guide brokers through the cyber maze, Graeme Newman, CFC’s Chief Innovation Officer, will be talking through the new BIBA Cyber Guide in a Seminar Session at 10.40am on Thursday 17 May. He will be joined by Richard Hollis, CEO, Risk Factory who will share his perspective on cyber threats.

CFC’s International Cyber Team Leader, Lindsey Nelson, will also be helping young brokers to build their cyber knowledge at the Young Broker Session at 12 noon on Thursday 17 May. Specialising in cybercrime as it pertains to companies across various industry sectors, Lindsey will discuss the real cost of cyber incidents in the UK and preventative risk management practices that companies can introduce.

Delegates will also have the opportunity to meet CFC’s underwriting experts managing both the BIBA cyber and product recall schemes on stand B51 to find out more about each proposition and the benefits they deliver to BIBA members and their clients, as well as the many other specialty products available from CFC.

Click here to read the BIBA Cyber Guide

CFC expands IP team with new appointment

Intellectual Property15 Oct 2014: Specialist lines underwriting agency CFC, has today announced the appointment of Matthew Muggeridge as an underwriter on their intellectual property team.

Matthew joins CFC from Liberty Special Markets where he held the position of Underwriting Assistant within its strategic assets department. He has experience in devising innovative insurance products for emerging risks, with a strong focus on US-domiciled intellectual property and cyber underwriting.

In his new role, Matthew will work alongside Erik Alsegard, Intellectual Property Practice Leader, and the CFC IP team to drive forward the development and growth of CFC’s recently launched IP product.

Speaking about Matthews’s appointment, Alsegard said: “All business sectors now face increased competition where intellectual property is seen as a key competitive advantage, and this means that the associated risks are increasing. Our IP product is tackling these issues head on and has made a big impact in the market, but we are driven to achieve more. Matt’s knowledge of the IP needs of businesses around the globe, US IP law and insight into emerging IP risks will be invaluable in helping us achieve our ambitions. He is a great fit for our team, all of whom are selected based on their ability to innovate and deliver fresh ideas to specialist insurance markets.”

Matthew commented: “CFC offers me a new and exciting challenge. I look forward to building on the experience I have already gained at Liberty, and to working alongside Erik and the rest of the CFC team. CFC’s IP product is an example of true innovation in a highly complex and competitive market and I could not be more thrilled to be part of it.”

We’ve launched a new insurance solution for the pharmaceutical industry

PHblogimageWe’re happy to announce the launch of Biosurance® PH.  A brand new product which addresses the unique set of risks faced by pharmaceutical companies, from drug designers and licence holders to manufacturers, wholesalers and retailers.

Many traditional insurance policies have not adequately addressed the real risks faced by these companies.

Recognising this, we’ve introduced genuinely new and much needed capacity into the market without the restrictions that many reinsurers usually insist upon. This means we have a great deal of flexibility in our approach in areas like drug exclusion lists, USA domiciled manufacturing activities of non-USA parent companies and USA exports.

Biosurance® PH covers companies with revenues of up to £500m.  In addition, the policy offers public, pollution and products liability limits of £15m and employers’ liability limits of £10m.  As brokers have come to expect from us, Biosurance® PH delivers a streamlined application form and clear policy wording.

CFC recruits senior industry figure to head the new IP division

CFC recruits senior industry figure to head the new IP divisionWe are pleased to announce our launch into the intellectual property market following the transfer of Munich Re’s intellectual property team led by Erik Alsegard.

Over the last few years, we have seen a growing demand from our existing client base for intellectual property rights insurance. Protecting IP assets and exposures is vital to any business, but particularly to start ups and growing businesses in the media, technology, life science and pharmaceutical industries. The addition of the Munich Re team is therefore a natural progression as it complements our existing offerings for these industries.

Commenting on his new role at CFC, Erik Alsegard said: “CFC has built a reputation based on its unwavering commitment to delivering remarkable products backed up by remarkable service. I have been really impressed with the efficiency of its underwriting operation and its global distribution. I am truly excited to be joining the CFC team and look forward to building a practice that is every bit as successful as CFC’s current areas of expertise.”

We’ve launched a new policy for residents and tenants associations, ExecSurance™ R&T

We've launched a new policy for residents and tenants associations, ExecSurance R&TExecSurance™ R&T is designed to protect directors, officers and committee members that sit on the boards of residents and tenants associations against the broad range of personal liability exposures they face. Rather than simply adapting an existing D&O policy, we’ve provided full entity cover for the association and do not limit this to wrongful acts of the individuals managing the company. In addition, we’ve also removed the bodily injury, property damage and failure to maintain insurance exclusions all too frequently applied to this type of insurance.

Like all of our products, ExecSurance™ R&T is a modular policy allowing brokers and clients to pick and choose their basket of covers. Key features include:

  • Comprehensive individual cover
  • Association cover not tied to wrongful acts of individuals
  • Loss of documents cover
  • Court attendance cover
  • Loss mitigation cover
  • Reputation and brand cover

CFC shortlisted in the 2011 Insurance Times Awards

CFC shortlisted in the 2011 Insurance Times AwardsWe are very proud to announce that we’ve been shortlisted for the Insurance Times Insurer Innovation Award 2011 alongside Chartis, Aviva, RBS and Zurich.

Graeme Newman, director at CFC commented: “It’s great to have been shortlisted for this award. Innovation is an integral part of what we do, with every single product, so it’s particularly pleasing to be recognised for it. Although we still have a little while to wait until the winner is announced, and clearly we’d love that to be us, we take great heart from being chosen out of many entries to feature as one of just 5 on the shortlist.”

The final stage of the awards process is a face-to-face presentation to the judges, following which the winners will be announced in a ceremony in London on December 6th.