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Monday 23 April 2018

BREAKING NEWS

CFC unveils incident response app

Written by staff reporter
2017-03-06

CFC Underwriting has launched a cyber incident response app, designed to allow policyholders to notify a claim and receive specialist support from its global cyber incident response team within minutes. The app also provides global cyber news and can be configured such that excess insurers and other members of the policyholder’s incident response team are notified at the same time.

Head of Incident Response at CFC, Anthony Hess, says time is of the essence when it comes to cyber response. “The longer it takes a policyholder to notify us that they’ve suffered a cyber incident regardless of whether it is an extortion demand or a system outage, the more damaging the impact can be on their business," he explained. "Our claims service is at the heart of our cyber proposition and we wanted to make it as straightforward as possible for policyholders to access our help. Using the app, it will take just seconds to notify us that something has gone wrong and less than half an hour for our network of experts to respond.”

CFC’s cyber incident response app runs on iOS, Android and Windows mobile phones and further functionality will be added over the coming months.

The number of cyber claims managed by CFC increased by 78% from 2015 to 2016 and the main types of attack being claimed for were privacy breaches and financial loss. Approximately 90% of its claims by volume were from businesses with less than US$50m in revenue.


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