Specialist insurer CFC, said it launched a new extension to its Cyber Proactive Response cover for small- to medium-sized enterprises.
Customer business interruption responds to contingent business interruption (BI) events, delivering protection for SMEs facing financial loss as a result of a major customer cancelling orders as a result of a cyber attack.
“The cyber attack suffered by Jaguar Land Rover demonstrated acute vulnerability in the supply chain because of dependence on one major customer whose business has effectively been shut down by cyber criminals,” said CFC’s Head of Global Cyber Underwriting, Scott Bailey. “Whilst unable to operate its own business as normal during the attack and recovery period, JLR was forced to cancel orders with its hundreds of suppliers, decimating the short-term fortunes of many of its small business providers.”
Customer business interruption is available globally by endorsement on CFC’s flagship cyber policy for SMEs, Cyber Proactive Response. Bailey said the marketplace has addressed businesses directly hit by a cyberattack but insurers “haven’t fully addressed the exposure faced by small businesses of a customer falling victim to a cyberattack and impacting the supply chain like this – until now.”
While ideal for the manufacturing and wholesale/distribution industry sectors with clear supply chain risks, CFC’s customer business interruption cover is available to all industry sectors and across all geographic areas.
Amwins Special Risk Underwriters Launch Primary Construction Program
Amwins Special Risk Underwriters (SRU) announced the launch of a primary construction program, an exclusive casualty solution designed to give brokers more flexibility in placing primary construction liability risks.
“This new program is a natural extension of our strategy to bring differentiated casualty solutions to market that will complement our core specialty carriers in this class,” said Mark Bernacki, chief underwriting officer at Amwins. “By expanding our primary construction capabilities, we’re giving brokers another exclusive tool to help navigate increasingly complex placements without losing sight of underwriting discipline.”
SRU’s Primary Construction Casualty program is written on A+XV paper and offers multiple coverage options designed to support a broad range of commercial construction risks.
Available exclusively to Amwins brokers, this launch further strengthens SRU’s role as a strategic casualty partner within the broader Amwins platform.
Topics New Markets Construction Casualty
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