BIBA 2018: CFC To Offer Advice on Cyber Insurance Cover to Brokers

Almost conference time; BIBA is just over one week away – here’s some news from CFC;

Specialist insurance provider behind BIBA’s cyber insurance scheme, CFC, will be launching its new BIBA Cyber Guide at BIBA 2018.

While one of the most talked about topics in business insurance, cyber insurance also seems to be one of the most misunderstood. CFC’s new guide aims to cut through the jargon and buzz words and bring simplicity to what has long been considered a complex line of business.

Cyber insurance policies tend to be modular in nature, consisting of a variety of different coverage areas so it’s no wonder that this has led to confusion around what they cover and how they work,” says James Burns, Cyber Product Leader at CFC. “We’ve worked with BIBA to produce this straightforward guide providing brokers with clear information about what cyber is all about and how they can articulate it to their clients.”

CFC’s BIBA Cyber Guide gives brokers simple information about what cyber actually means and how this area of insurance has evolved. It covers the types of cyber risks and types of cyber claims, drilling down into how a policy responds and providing brokers with some valuable tips on how they can overcome the most common objections they face when discussing cyber with their clients.

To guide brokers through the cyber maze, Graeme Newman, CFC’s Chief Innovation Officer, will be talking through the new BIBA Cyber Guide in a Seminar Session at 10.40am on Thursday 17 May. He will be joined by Richard Hollis, CEO, Risk Factory who will share his perspective on cyber threats.

CFC’s International Cyber Team Leader, Lindsey Nelson, will also be helping young brokers to build their cyber knowledge at the Young Broker Session at 12 noon on Thursday 17 May. Specialising in cyber crime as it pertains to companies across various industry sectors, Lindsey will discuss the real cost of cyber incidents in the UK and preventative risk management practices that companies can introduce.

Delegates will also have the opportunity to meet CFC’s underwriting experts managing both the BIBA cyber and product recall schemes on stand B51 to find out more about each proposition and the benefits they deliver to BIBA members and their clients, as well as the many other specialty products available from CFC.

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