Selling cyber cover to company directors, Tech Officers or start-ups can be a difficult process. But what if we told you that there’s a set of free tools available that can assist your brokerage in winning new business? Interesting news just in;
Specialist insurance provider and pioneer in emerging risk, CFC, has launched new free tool to help brokers sell cyber insurance.
CFC’s new cyber risk heat map has been built from data relating to 2,500 cyber claims that the business has dealt with over the past two years as well as trends that its incident response team is witnessing externally.
The colour-coded graph ranks the severity of different industries’ exposures to business interruption, privacy, and cybercrime and includes a few examples of how these exposures can play out for different types of organisations.
“Cyber insurance has a long reputation as a privacy liability product for businesses that hold sensitive data – but privacy exposure isn’t the only risk facing businesses today” says James Burns, Cyber Product Leader at CFC. “In fact, cybercriminals are increasingly targeting traditional industries that hold almost no sensitive data at all, whether through ransomware attacks that halt operations or business email compromise scams that result in wiring payments to fraudulent accounts.”
“For brokers wanting to start a conversation about cyber insurance with their clients, it’s important to focus on areas that are relevant to the industry in which they operate. Our new cyber risk heat map helps them to easily identify the exposure hot spots for a wide range of industry sectors as well as providing a few scenarios specific to their client’s sector to get the conversation rolling.”
Free to download, CFC’s cyber risk heat map provides brokers with another simple tool that helps cut through the jargon and buzzwords, and helps demonstrate how cyber insurance actually works for specific industry sectors.
With two decades’ experience, CFC’s award-winning cyber insurance products are backed by the largest dedicated in-house team of cyber claims and incident response specialists.