CFC and BMS deliver trade mark defence product for Australian businesses

CFC and BMS deliver trade mark defence product for Australian businessesCFC and broker BMS have joined forces to deliver Trade Mark Protect, a new set of insurance products to help Australian businesses protect their intellectual property assets.

The number of trade mark filings made in Australia has grown over the last decade, and the vast majority, 90 percent, are individuals or SMEs.* As filings have grown, the number of oppositions to these filings has also grown.

To help small and medium enterprises navigate the intellectual property (IP) lifecycle, in March 2017 IP Australia challenged the market to develop a sustainable and affordable option for trade mark applicants and owners. They were the first government IP office to spearhead such an initiative.

Following a competitive tender process managed by AusTender, IP Australia selected the solution presented by CFC and BMS, which launched to the public this month.

Trade Mark Protect can protect businesses of all sizes against oppositions and other challenges to trademarks in Australia. The product suite offers two options:

  • TM Opposition Cover delivers a world-first insurance product that covers the legal costs incurred in defending against oppositions to trade mark applications
  • Registered TM Cover protects businesses against the legal costs incurred in defending attacks on their trade mark after registration

Premiums start from just $215, including taxes.

“The legal costs for defending a typical trade mark case can present a real problem for businesses, particularly SMEs, as they simply don’t have the funds or resources to be able to respond,” said CFC IP Practice Leader, Erik Alsegard. “Trade Mark Protect gives these businesses access to an affordable solution to protect their valuable IP assets.”

CFC has a history of pioneering insurance solutions for emerging risks, and has built the largest dedicated IP insurance team in the London market. CFC’s IP offering includes protection for patents, trade marks, copyrights, and other intellectual property, and its policy covers the defence and pursuit of intellectual property infringement claims, which can be catastrophic for any business.

CFC and BMS have also developed a claims solution in partnership with some of Australia’s leading IP firms including Griffith Hack and Watermark. Policyholders will not have to pay a deductible when using these approved legal providers.

For more information about Trade Mark Protect insurance, visit www.trademarkprotect.com.au.

*See the Australian Intellectual Property Report 2017 at https://www.ipaustralia.gov.au/ip-report-2017

About CFC
CFC is the largest independent MGA in the UK. Our focus is speciality lines, niche markets and emerging risks, and we have the largest cyber insurance underwriting team in London. CFC is backed by Lloyd’s and delivers insurance to over 60,000 businesses in more than 60 countries.
For more information visit http://www.cfcunderwriting.com. Or follow CFC on LinkedIn or Twitter.

Media contact:
CFC Underwriting:
Lesley Bennett at LMR Communications
+44 (0)7815 778038
lesley@lmrcomms.co.uk

CFC partners with CyberScout to provide identity management services

CFC partners with CyberScout to provide identity management servicesWe’re pleased to announce that we’ve partnered with CyberScout™, identity management and data theft service experts, to offer innovative, best-in-class cyber support services to our customers internationally.

“Cyber risk has become a fact of life for every organisation in today’s connected world,” said Anthony Hess, Head of Incident Response at CFC. “As cyber crime becomes more complex and sophisticated, partner network providers like CyberScout can round out in-house capabilities with their own expertise, and can offer innovative, high-quality services on a global scale.”

CyberScout provides CFC customers with help in three areas: identity theft remediation, consumer notification and cyber fraud monitoring. Our customers now have the option of direct access to CyberScout’s highly experienced fraud specialists. In annual customer surveys, CyberScout earns 99% satisfaction ratings, year after year. These services complement our current offerings which include a wide range of internal and partner-provided risk management services as well as our in-house incident response team, which is activated by an award-winning cyber incident response app 24 hours a day, 7 days a week.

“With this partnership, CyberScout looks forward to collaborating with CFC Underwriting and its underwriters in the London Market,” said Tom Spier, CyberScout’s International Director of Business Development. “Already CyberScout offers its services to millions of consumers in partnership with 16 of the top 20 U.S. property and casualty insurance carriers, and six of the top seven Canadian insurers, as well as global Lloyd’s Syndicates.”

We’ve partnered with leading kidnap response consultant, EOS Risk

We've partnered with leading kidnap response consultant, EOS RiskEOS Risk will join red24 and S-RM on CFC’s panel of experienced security companies specialising in global kidnap and extortion incidents.

K&R Team Leader at CFC, Mark Baker, says: “Highly skilled, swift response is of the utmost importance if something does go wrong in this area of insurance. Our cover provides a 24/7 emergency hotline in the event of an incident with no limit to consultant fees incurred. I’m delighted that we have been able to add EOS Risk to our existing panel, providing our insureds with an exceptional choice of experts able to help them when they need it the most.”

EOS Risk is a leading global professional security services company, providing a comprehensive range of risk services and solutions in analysis, audit, strategy, operations, travel and assistance.

Steve Harwood, Head of Special Risks at EOS comments “We are delighted to be partnering with CFC and look forward to developing a proactive relationship. This is another great example of how EOS can bring its class leading intelligence services and highly specialised K&R response capabilities to support CFC’S insured clients anywhere in the world.

CFC partners with Blue Cube Security

CFC partners with Blue Cube Security We are pleased to announce a new partnership with independent IT security solutions provider Blue Cube Security in a bid to continue to improve our risk management service provision for policyholders. From today, Insureds will be able to purchase top IT security software through Blue Cube by using their policy points on our Cyber Risk Management Portal. Blue Cube has extensive relationships with best of breed IT security vendors and allows CFC Insureds access to top class security management tools, with exclusive discounts on a wide range of products.

The first of these products to be available to CFC policyholders is Malwarebytes endpoint security, which offers key protection against malware, including ransomware. Malwarebytes is one of the most advanced endpoint security software programmes out on the market, not only able to block malware but also remove all traces of it from networks and devices. Zero-day exploits, one of the greatest risks to application across all operating systems, can also be prevented by the software.

Policyholders from any country can purchase a 25% discount or free trial, both of which options are handled by the experienced Blue Cube sales team. Registered Cyber Portal users can find out more in our ‘Tools’ section or head directly to www.bluecubesecurity.com/cfc for code registration and more information.

CFC announces partnership with leading cyber security ratings firm BitSight Technologies

CFC announces partnership with leading cyber security ratings firm BitSight Technologies20 Jul 15: Specialist lines underwriting agency CFC today announces its formal partnership with acclaimed cyber security ratings agency, BitSight Technologies.

CFC will use BitSight’s ratings tool to provide unprecedented levels of insight into the cyber threats that their clients face. Ratings are calculated on a daily basis by drawing on vast amounts of publicly accessible data, including observed security events involving botnets, malware distribution and email server configuration, which are then assessed for severity, frequency and duration. For CFC, these security ratings remove the need for more intrusive underwriting methods such as long questionnaires, on-site audits and software implementations.

CFC Director Graeme Newman comments: “We are incredibly excited about our partnership with BitSight. Their innovative analytic tools will provide an extra dimension to our underwriting and provide huge benefits to our insureds, through increased visibility of their security posture and active security alerts.”

As part of the partnership, all of CFC’s clients will receive pro-active alerts along with actionable information to mitigate risks when their security ratings drop significantly, and they will have access to BitSight services as an added resource.

“BitSight’s partnership with CFC marks a significant turning point in our efforts to broaden the adoption of Security Ratings in the cyber insurance market and across the world,” says Ira Scharf, General Manager of Insurance at BitSight. “This partnership with CFC, who are a leading provider of cyber insurance worldwide, will help to cement our status as the global standard in the security ratings industry.”