CFC rolls out encrypted cyber insurance policies

Specialist insurance provider CFC will launch market-first, encrypted cyber insurance policies next month.

Policy encryption provides an additional layer of security for insureds and is another critical step in keeping businesses safe from cyber threats. This extra layer of security ensures that should a customer's policy documents fall into criminals, they cannot be used as leverage in an extortion attempt.

The feature, to launch on April 3, will enable insureds to access their policy via a password or decryption key on the company's award-winning mobile app Response. Meanwhile, brokers will receive the policy decryption key via email when the policy is bound.

CFC's Response mobile app

Response delivers critical cyber security alerts and expert support. It offers the following:

• Critical threat alerts: delivered in real-time to prevent attacks before they happen;
• Expert technical support: a direct, secure way of communicating with the company's expert cyber security team to remediate vulnerabilities or seek technical support;
• Cyber security tools: designed to keep customers secure, including dark-web monitoring, phishing simulations, and deep scanning; and
• Incident report: If an incident has occurred, the app is the quickest way to notify CFC and receive immediate support from its expert response team.

The launch of the new encrypted cyber policies follows the launch of CFC's new solution designed to protect start-ups and small businesses from threats to their intellectual property (IP) and the appointment of an industry veteran to the newly created role of cyber underwriting leader.