News April 12, 2021

CFC judged a 5-star cyber insurer

CFC was one of just a few cyber insurance providers to get five stars in Insurance Business Australia’s recent report.

Based on research carried out by Insurance Business Australia who interviewed specialist brokers and surveyed thousands more within its readership, discussing features of cyber policies and measuring insurers on a number of factors, we’re proud that CFC was judged a 5-star cyber insurer in their recent 5-Star Cyber Insurers report.

CFC was just one of five insurance providers who received the 5-star Award. The rating was based on relationship with brokers, ability to handle claims, underwriting expertise and most importantly, the strength of products provided.

While first-party coverage – where the overwhelming majority of cyber claims stem from – was deemed to be the most important thing that brokers looked for when placing a cyber insurance policy, other wishes were expressed too. The publication reports that brokers also want to see more educational opportunities from insurers – whether that’s how brokers should approach non-tech clients about cyber or materials targeted at clients directly that explain the importance of the cover. Brokers also said they hoped to see continued innovation from their cyber insurers as they rise to meet a range of evolving cyber threats.

We’re so excited to take all this on board by doing even more to educate and innovate and will endeavour to continue improving our cyber proposition, from coverage to claims. Thanks to all those who participated in the survey. Our brokers are our backbone and we couldn’t have done it without you!

 Want to learn more about CFC’s cyber policy? Visit our product page or check out our other great cyber-related resources.