CFC has launched an insurance solution tailored for mid-size to multinational tech companies. Targeting businesses with over $250 million in revenue, the offering provides tech and cyber risks coverage.
“The global value of intangible assets has reached almost $80 trillion, driven by innovations like AI and the increasing importance of technology in everyday life,” said Michael Brunero, Head of Tech, Media & IP at CFC. “Tech companies hold vast amounts of data they need to protect. The value of their intellectual property is growing at an unprecedented scale.”
Tech Insurance Solutions
The new insurance solution addresses costs associated with delays, mistakes, oversights, and miscommunication. It covers traditional and emerging risks that tech companies face. Additional benefits include access to proactive cyber protection features such as vulnerability scanning, threat hunting, and claims intelligence. An experienced incident response team is available if incidents occur.
CFC provides a specialist in-house tech and cyber claims team with experience handling thousands of claims each year. The company offers a flexible underwriting approach and supports a broad range of territories and business activities.
“Few markets have the capability or interest to assist start-ups and micro-SMEs up to larger corporate clients through their lifecycle,” Brunero noted. “We feel this is the right moment to diversify our portfolio and extend our expertise to larger corporate tech businesses.”
Worldwide Cyber Risk
CFC’s Tech Practice currently serves 25,000 tech businesses worldwide. Its large corporate cyber team can write up to $30 million in coverage and leads many large towers for multibillion-dollar multinational companies. The team writes approximately $125 million in gross written premiums in primary business.
“The fusion of our experience in insuring businesses at the cutting edge of technology and providing cyber cover for large corporate organizations over the past 25 years now means that we’re able to offer comprehensive cover for tech companies as they grow from pre-revenue to become large multinationals,” Brunero concluded.
Source: CFC launches new insurance solution for tech companies.
Other News: CFC Launches European Cyber Team, Appoints Ilaria Silvato to Spearhead Growth(Opens in a new browser tab)
Other News: Are You Already In The Matrix—35 Million Devices Under Blue Pill Attack.
