CFC now offers Umbrella Excess cover

Suited man with technological umbrellaWe know what you’re thinking… in London without an umbrella?!

Not anymore!

CFC now offers Umbrella Excess to new and existing clients in the US.

With limits of up to $5 million, our Umbrella Excess can sit over a client’s auto, employers’ liability, general liability and errors & omissions policies. The policy extends a client’s primary limits providing extra peace of mind and maximum protection.

Umbrella Excess is offered by our Professions, Technology, Healthcare, Media, Life Science and Property & Casualty teams, and is available for a wide range of professional firms. From accountants and architects to IT programmers and recruitment agencies – if we’d offer an E&O policy, we’ll likely be able to write the excess cover.

Read our coverage highlights here, or get in touch with our underwriting teams to learn more.

CFC launches revamped proposition for tech companies

CFC launches revamped proposition for tech companiesToday we’re happy to announce the launch of our revamped insurance proposition for technology companies worldwide.

In what represents a significant upgrade to our existing proposition, the new look product adds a number of valuable cover elements to protect technology companies against the emerging risks that they face in the running of their businesses.

This includes clear, unambiguous cover for breach of a client contract, which is available up to the full policy limit. Furthermore, the new policy reflects modern contracting practices within the technology industry by including an updated waiver of subrogation condition and a clear allocation of any future recoveries.

The new product also provides policyholders with CFC’s award-winning cyber cover including comprehensive cyber crime and access to its internal cyber incident response team with a nil deductible.

CFC’s Head of Emerging Risk, Matthew Taylor, says: “Our revamped product delivers next generation cover for next generation companies. The risks faced by tech businesses are changing as rapidly as technology itself and insurance policies have to evolve to reflect this. Having consulted with our broker partners and their clients, we’ve introduced some major enhancements to our existing product and we’re confident that CFC offers technology companies a well-rounded policy that truly meets their needs.”

Our product for technology companies also includes affirmative cover for bodily injury and property damage, cover for claims alleging an infringement of intellectual property rights, and because claims alleging negligent or unsatisfactory work are usually accompanied by a demand for a refund, the policy does not include a refund of fees exclusion like many others on the market.

CFC launches event package policy

CFC launches event package policyWe’re happy to announce that we have expanded our contingency insurance offering with the launch of a brand new event insurance package policy in the US and Canada.

This new solution enables brokers to deliver to their clients comprehensive event cancellation as well as general liability and property cover for the event all under one policy. Also available on a standalone basis, the event cancellation component covers the costs associated with an event being cancelled, abandoned, postponed, or relocated for reasons outside of the insured’s control, including the non-appearance of a participant.

Matt Helm, Contingency Practice Leader at CFC, explains: “When it comes to events, there are a lot of moving parts and a lot can go wrong if the unforeseeable happens. Historically, brokers have had to pull a patchwork of policies together to provide their clients with comprehensive cover. That has changed with the introduction of our new event insurance policy. Our broad package solution provides limits of up to $5m in the US and $10m in Canada, and gives brokers and clients a one-stop-shop saving them both time and money.”

CFC’s new product enables organisers to protect the financial investment of their event including everything from agreements with spectators, staff and performers to building and contents damage. Optional extras include cover for terrorism, adverse weather, earthquakes, communicable diseases and non-appearance.

The policy will be available in other territories in the following months. Stay tuned!

CFC launches new insurance solution for US-based eHealth companies

Medical technology concept. Electronic medical record.Specialist lines underwriting agency, CFC Underwriting, today announces the launch of a brand new insurance solution for US companies and individual practitioners who provide telemedicine and other eHealth services.

In what is believed to be a first for this industry sector, CFC’s new policy provides affirmative coverage for bodily injury arising from both the advice companies and practitioners provide as well as bodily injury arising from technology failures and cyber incidents.

Timothy Boyce, CFC’s US Healthcare Team Leader, says: “Practitioners and companies operating in the eHealth space often bridge both the healthcare and technology sector meaning that they are open to a wide range of risks. In particular, as technology advancements continue to play a more crucial role in how healthcare is delivered, monitored and addressed, the potential problems these companies face from cyber events and system outages is very real. That’s why we’ve developed a policy which truly addresses the eHealth industry’s unique risk profile.”

CFC has tailored cyber and privacy cover in this new policy to address eHealth companies’ specific cyber exposures. As well as a separate section for extortion to address the growing threat of ransomware, CFC’s policy also covers HIPAA-related fines, penalties and resolution agreements. Cyber incident response services are offered with a nil deductible as standard.

Other features of the new offering include automatic coverage for physicians and practitioners, a separate section for technology E&O, breach of contract cover, and failure to perform cover for wearables and self-monitoring healthcare devices that have been manufactured or distributed by the insured.

CFC launches revamped cyber proposition

CFC launches revamped cyber propositionToday we are pleased to announce the launch of our revamped cyber insurance product. In what represents a significant upgrade to our existing cyber proposition, the new look product provides a number of innovative cover elements to protect policyholders against the emerging threats of the digital age. This includes the provision of first party cover on an “each and every claim” basis, ensuring that policyholders aren’t restricted by a policy aggregate and that the full benefits of cover are available each time a crisis strikes, even if they experience multiple cyber incidents in the same policy period.

The policy is also one of the very few to offer full retroactive cover as standard, meaning that policyholders are covered for breaches they discover during the policy period, even if it first occurred long before. Symantec has reported that the average time to discover a breach is 205 days, making this a particularly important feature.

Our Cyber Product Leader, James Burns, says: “No modern business can escape cyber risk, but as cyber criminals have become more sophisticated and as we live in an increasingly connected world, the nature of cyber incidents is changing. Insurance policies have to evolve to reflect the changing environment. We have completely reconstructed our proposition and now offer policyholders more than just a comprehensively worded policy, but rather an all-encompassing cyber incident solution.”

He continues: “We’ve built an extensive in-house incident response capability to ensure that cyber incidents are dealt with quickly and efficiently in real time. And because we want to encourage engagement with our experts as soon as possible for a swift resolution, we’re offering initial response services with no deductible payable by the insured.”

Our new proposition also provides broader cover for senior executive officers who are regularly targeted in cyber attacks, covering theft of personal funds of individuals as well as those of the company. And if a suit is brought against directors and officers following a cyber attack, our policy provides affirmative cover in the event that their management liability policy doesn’t respond.

The product suite includes comprehensive computer crime cover, system repair costs and incident response costs in addition to the limit.

CFC launches medical malpractice

CFC launches medical malpracticeWe are pleased to announce today that we are expanding our presence in the UK medical malpractice insurance market with the launch of a new product offering.

Bringing much needed capacity to the market and backed 100% by a consortium of Lloyd’s syndicates, our new product is a flexible package that can be tailored to a wide range of healthcare professionals and organisations.

Practice leader Sharon Brennan comments: “The frequency of medical malpractice claims and the cost of defending them are steadily on the rise in the UK, making litigation a key exposure in this sector. Whether at fault or not, healthcare organisations and professionals need clear and concise cover backed by expert underwriters and lawyers who really understand this field. We have designed our product to provide clear, unambiguous cover for medical malpractice, and are able to tailor coverage depending on the client’s distinct needs.”

Public liability, employers’ liability and legal expenses cover are also available under the blended policy. In addition, cyber and privacy cover is offered as an optional extra, protecting against a variety of cyber attacks and data loss scenarios including loss or breach of data held in the cloud, cyber extortion and hack attacks on third parties emanating from the insured’s computer systems.

Our latest product is aimed at a wide range of UK healthcare organisations including affinity groups or schemes and individual professionals. The medical malpractice team has a wealth of experience and can tailor policies to meet specific business needs, so get in touch today.

Ideas for trade show and prize promotions

Ideas for trade show and prize promotionsAre your clients looking for interesting new ideas to help promote their business at trade shows? Promotional insurance is a class of business that is still not widely known about or understood in the market. It can be used to create some innovative promotions, with attractive prizes far bigger than most clients could normally afford.

Ever wondered how small companies can offer jackpot prizes like a top of the range sports car or a once-in-a-lifetime holiday on a free to enter game on their exhibition stand? Promotions insurance makes all of this possible. By finding fun games that have a very low probability of any individual winning the top prize, insurance can be used to offer high value prizes for the cost of only a small premium. Hole-in-one prizes have been a popular feature on many corporate golf days and now these same concepts are becoming increasingly popular in the competitive world of conferences, exhibitions and trade shows.

To give you and your clients some creative ideas we’ve created a brand-new microsite packed with examples of how you can use promotions insurance. From prize draws and giveaways to crack the safe and guessing games, head on over to www.promotionsinsurance.com and feel free to share relevant case studies with your clients. If you’d like to speak to a member of the Contingency team directly, email Matt Helm at mhelm@cfcunderwriting.com or Rob Tuttlebee at rtuttlebee@cfcunderwriting.com or call 0207 220 8500.

CFC launches Transaction Liability product suite

CFC launches transaction liability suiteSpecialist lines underwriting agency, CFC, today announces the launch of its transaction liability insurance capability suite.

Backed 100 percent by various Lloyd’s syndicates, the CFC offering is designed to meet the needs of clients and M&A professionals in the mid-market, lower mid-market and SME spaces across the UK, US, Australia and much of the rest of world.

Matthew Giddings, Transaction Liability Practice Leader, says: “Transaction liability insurance is evolving into a compelling set of risk management and deal facilitation tools employed by both private equity and strategic buyers and sellers. We’re excited to be launching our capability, and have a great team of experienced underwriters who are able to speedily respond to clients’ needs, thereby minimising execution risk.”

“The skills and depth of experience of the CFC team means that we can deliver the right solution from the word go. We take a pragmatic approach and review each and every opportunity on its merits to create a bespoke policy that offers effective protection which both the client and broker can have confidence in.”

CFC has the capacity to offer limits up to US$30 million/£20 million/AU$40 million/€25 million, respectively.

CFC launches new product recall suite

CFC launches new product recall suiteSpecialist lines underwriting agency CFC today announces the launch of its new suite of insurance products for the product recall market.

This follows the appointment last year of Natasha Catchpole as the Crisis Management Practice Leader and the subsequent recruitment of George Beattie from Willis.

Commenting on the launch of CFC’s new product suite, Natasha says: “I joined CFC in order to create a suite of recall products that really advance the market. Current products are often unclear and fail to address the issues faced in today’s modern manufacturing and distribution businesses. I’m really proud of what we’ve produced and looking forward to sharing them with our partner brokers.”

Available globally, CFC’s suite of products is aimed at a wide variety of industries, from food and beverage, through to automotive component parts and consumer product industries.

Recognising the emerging risks faced by today’s modern businesses, some innovative features of CFC’s product suite include cover against recall events stemming from the hacking of automotive products, malicious product tampering caused by an electronic attack and failure of food and beverage products to meet religious specifications. Insureds will also benefit from access to CFC’s diverse range of crisis consultants available to provide specialist support depending on the individual recall situation.

Product recall coverage can be easily packaged together with any of CFC’s other insurance products to facilitate seamless and comprehensive risk coverage.

For more information, email ncatchpole@cfcunderwriting.com or call 0207 220 8500

CFC enters med mal market with new hires

CFC enters med mal market with new hires3 Nov 15: Specialist lines underwriting agency, CFC today announces that it will be entering the medical malpractice market following the recruitment of Sharon Brennan and Jo Clift from W R Berkley.

Sharon has over 20 years’ experience in writing med mal business and joined W R Berkley in 2005 to set up its med mal account. She has successfully grown this book both in the UK and internationally and is a highly respected professional in this area of the market.

A seasoned insurance professional with 15 years’ experience, Jo has been a member of Sharon’s team at W R Berkley since 2008 and has personally underwritten a significant portion of the healthcare book.

Andrew Holmes, Chief Underwriting Officer at CFC, says: “CFC has had a long association with the healthcare liability market and has been successfully underwriting healthcare businesses for the past ten years. Although our focus has previously centred on building bespoke products for allied health professionals and long term care, we believe adding to our healthcare suite with a specific medical malpractice product is a logical step and will be an excellent fit for CFC.”

“Sharon has huge experience in this class and has exciting ideas as to how she can to build this new line of business as well as how we can possibly cross-sell through other areas. She and Jo are a strong team and we’re looking forward to welcoming them on board.”