CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, today announces the launch of a new management liability solution designed specifically for American small to mid-size businesses.
US SMEs are facing heightened exposure amid shifting geopolitical tensions, stricter regulatory enforcement and ongoing economic instability. Together, these pressures are increasing investigations, disputes, financial strain and reputational risk, making management liability cover essential for today’s business leaders.
Focused on the day-to-day risk exposures faced by smaller enterprises rather than those of publicly traded companies which management liability products typically target, CFC’s new solution includes a number of new coverages.
“Management liability can be a tricky product to sell to smaller enterprises,” said Melissa Kozera, CFC’s US Management Liability Team Leader. “In an environment shaped by ongoing geopolitical shifts, tightening regulatory requirements, and increasing economic instability, SMEs are facing a broader and more complex set of exposures than ever before. Yet policies are often filled with technical jargon and built with larger organizations in mind, making it hard for brokers to translate these risks into something relatable for their SME clients."
With clear, simple language, our new product captures the real-world challenges that boards and senior managers of an SME face, empowering them to pick and choose the cover that fits their business and only pay for what they truly need. Melissa Kozera, US Management Liability Team Leader
Brand new coverages provided under CFC’s management liability solution include:
- Executive reputation protection including adverse events that cause damage to the reputation, standing or status of senior executives. It includes access to leading PR experts in Canada and data security experts to remove damaging content published online.
- Cyber coverage specially designed to address a broad range of risks facing senior executive officers and board of directors in a personal capacity. This includes personal financial loss including social engineering attacks that lead to the transfer of personal funds.
- Broad employment practices liability including third party cover, breaches of wage and hour duty, immigration investigation costs and costs as a result of a workplace violence incident.
- Comprehensive crime including company crime such as employee theft, funds transfer fraud, credit card and currency fraud, client crime and both on and off premises theft. In another first for CFC, standalone crime cover is also available.
For more information about CFC’s full suite of management liability solutions, click here.
