CFC launches new cyber excess policy

CFC has today released its new cyber excess solution, giving small and medium sized businesses access to up to £10m of excess cyber capacity.

Offered globally and built for organisations with up to £1bn in revenue, the policy also provides an automatic reinstatement of the excess limit as standard.

CFC’s cyber excess offering also features several dropdown coverages which, if required, effectively top up cover provided in the primary cyber policy that the client holds. These include Side A cover for lawsuits against directors and officers arising directly out of a cyber event, where their D&O policy excludes cyber claims; up to £1m of primary cover for theft of funds of senior executive officers; and a top up of the primary limit for wire transfer fraud.

“As cyber risk has become more pronounced and the severity of losses has gotten worse, organisations have been proactively buying increased limits on their cyber policies,” said cyber product leader at CFC, James Burns. “By providing a solution which gives clients not only the additional limit they need, but also an additional reinstatement of that limit in case the worst does happen again, we are ensuring ultimate peace of mind in an increasingly perilous cyber landscape.”

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