New Cyber Insurance Product Offers Uncapped Coverage and Proactive Services
CFC has launched a new cybersecurity insurance product dubbed Cyber Proactive Response (CPR). It’s designed for businesses with up to €250 million in revenue. In announcing the news, CFC stated that the product includes two industry firsts, removes six exclusions, and features 30 new coverage enhancements.
Unlike traditional policies, CPR offers unlimited reinstatements with no deductible. Clients can also opt to pay one deductible for the entire policy term, regardless of how many claims are made.
James Burns, CFC’s Global Head of Cyber, stated, “It’s been the norm for cyber insurers to cap what they will pay while uncapping what the insured might have to pay. We want to reverse that dynamic.”
Another feature is contractual inclusion of proactive cyber attack prevention services, which CFC says is a global first. Burns emphasized, “We’re reinventing cyber coverage by building proactive into the heart of the policy.”
Expanded Cybersecurity Insurance Coverage for Modern Threats
CPR includes:
- Interim business interruption payments
- Coverage for AI-related events
- Theft of physical goods and invoice manipulation
- Full system failure and emergency continuity costs
- Contingent bodily injury
Burns added, “We want our clients to have complete confidence that we will be there when an incident strikes.”
Global Broker Education Campaign
To support the launch, CFC is organizing a global broker education program. It will feature webinars, case studies, and tools to explain CPR’s benefits amid rising cyber threats.
Other News: CFC Levels Up Proactive Cyber Game with Cybersecurity Veteran Jason Hart(Opens in a new browser tab)
