Featured – the best cyber insurance providers' products

Companies were named among Insurance Business Australia's 5-Star Cyber winners

Featured – the best cyber insurance providers' products

Cyber

By Roxanne Libatique

Insurance Business Australia (IB) recently revealed this year’s 5-Star Cyber award winners – the best cyber insurance providers across Australia, ranked based on coverage, flexibility, ability to handle claims, pricing, and strength of each product.

CFC Underwriting, which serves everyone from micro-SMEs to large corporations, is among this year’s winners.

The company’s flagship policy, Cyber Private Enterprise (CPE), provides coverage for incident response costs, cybercrime, system damage, business interruption, network security, privacy liability, media liability, and technology errors and omissions. Some of its key features include:

  • building a $650 million cyber portfolio with over 80,000 policyholders worldwide;
  • being the largest standalone cyber insurer in Australia with over 8,000 business clients; and
  • offering the first fully integrated start-to-finish in-house claims solution in Australia.

Another 5-Star Cyber winner, ATC Insurance Solutions (ATC), focuses on facilitating the process with an online portal that generates quotes quickly. It also offers free firewalls and antivirus software to its cyber insurance clients.

When asked about the company’s products, ATC national cyber manager Jenny Whitby told IB: “We have really strong products including all the buzzwords that you hear at the moment – contingent business interruption, crypto jacking – all that good stuff is wrapped up in there, suited to smaller clients for competitive rates.”

Learn more about this year’s winners and their products by reading the IB 5-Star Cyber 2023 special report.

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