What’s new in the world of Cyber Insurance?
Specialist cyber insurance adviser Matthew Clark takes a look at the new features of CFC’s cyber incident response app
October is Cyber Security Awareness month. There’s a lot of chat about cyber issues out there at the moment, and as a specialist advisers for cyber insurance, we want to offer what has caught our attention in the world of cyber security this month.
As the next generation of insurance advisory business, Partners& are always looking to work with the best software and applications. CFC Underwriting are pioneers in cyber insurance, and have just launched an upgraded version of their award-winning cyber incident response app.
Why has that got my attention? The new features in the app really are market leading:
Proactive Threat Intel Alerts
A key feature of the new app, is the proactive capability to reach out directly to cyber insurance policy holders. This helps clients to better protect themselves from cyber incidents before they happen, and stay one step ahead. These are not the usual ‘general advisories’ where underwriters see trends, it’s specific alerts to do with that individual client!
Ask the Expert
The app now boasts an ‘Ask the Expert’ service that provides policyholders with access to CFC’s in-house team of technical specialists, providing prompt answers to cyber risk mitigation, industry best practices, and compliance/legal enquiries
The incident notification functionality still triggers an immediate call-back from the CFC Response IR team. However, they have revamped the underlying questions set to better reflect the changing threat landscape.
Having been impressed by what this app can offer, we have asked CFC’s Cyber Development Leader, Lindsey Nelson, for some insight into how the app has been received so far:
“I genuinely believe this is a game-changer in the UK cyber market, and takes risk management to the next level. It equally ensures longevity and stability of the cyber landscape, specifically with the proactive alerts. If we can get ahead of claims before they happen. We’ve been trialling this feature out very successfully in the last few weeks. We have found insurer’s credentials over the dark web (as an example), alerted the policyholder and resolved the situation before they were even aware of an issue. The feedback from clients has been outstanding.”
We at Partners& are proud to have our cyber insurance services underwritten by CFC Underwriting. We are able to offer our clients services at the forefront of the fight against cyber-crime.