Package policies: Making comprehensive cover simple
Today’s businesses face a blend of unique exposures. Here’s the simple way to help them get the comprehensive cover they need with package policies from CFC.
Since most businesses today are complex entities, the profile of risks they face don’t fit neatly into a single box. We see it across industries. An architect with professional indemnity (PI) insurance for their day-to-day work can still be vulnerable to risks in the world of cyber. Just as PI for a distributor of medical devices may not cover a product recall event, leaving the firm considerably worse off if an event occurs.
It used to be that businesses needed to purchase separate policies for each risk—a time-consuming and costly endeavour, with multiple policies also making things more complex when you go on to make a claim. Thankfully, there’s a better way.
Package policies from CFC
To remove complexity, CFC has developed a series of package policies that list and cover common risks in different industries. For businesses that aren’t certain of the risks they’re set to face, taking out a package policy ensures invaluable peace of mind, while also serving as a one-stop-shop that bundles different coverages into one policy.
That’s not all. We can also tailor coverage to a specific business, adding and removing coverages as required to design a product that’s perfect for them. Read on for our main package policies.
Professional services
Tailored to cater to the diverse requirements of professional service firms across a spectrum of industries, our policies encompass PI, general liability (GL), property, business interruption, legal expenses, directors and officers (D&O) and cyber. Find the product brochures below to learn more.
Healthcare
From traditional healthcare exposures to technology E&O, the healthcare sector requires a policy that addresses its unique needs. With healthcare providers holding vast amounts of sensitive data and their reliance on computer systems, cybercrime cover is even more important alongside the package policy PI and GL cover.
Life sciences
Within a life sciences sector that ranges from dietary supplements to biotechnology, comprehensive insurance is imperative for businesses to address their nuanced needs. In these package policies, our standard coverage extends to include bespoke covers specific to the business.
Technology and media
Paired with comprehensive cyber cover, these two package policies are built to fit modern business exposures. They include traditional cover as well as property and business interruption, with intellectual property (IP) available to add on.
Financial institutions
With the pace of change in financial services leading to large amounts of sensitive data being stored, the right insurance cover is vital in protecting business-as-usual and driving growth. Financial institution package policies combine standard coverages with industry-specific cover such as kidnap and ransom protection.
Getting started with package policies
At CFC, we put ease at the heart of every customer experience. Our package policies are here to make getting comprehensive cover simple, and they couldn’t be easier to tailor to specific business needs. Find an underwriter here to get in touch.