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CFC expands cyber policy to cover SME executives and extends indemnity
The insurer said its Cyber Proactive Response policy expands to include personal crime and extortion coverage for senior executives, and lengthens the business interruption indemnity period from 12 to 18 months.
CFC said it has expanded its Cyber Proactive Response, or CPR, cyber policy with new protections for senior executives at small to middle sized enterprises, citing that cyber attacks increasingly target the people responsible for running a business. Insurance Journal reports the added coverage includes personal crime and extortion exposures, temporary relocation costs for executives and their families, and trauma counselling services after an attack.
CFC also updated CPR wording as organizations embed AI across operations, adding language aimed at improving clarity and confidence. The insurer extended the CPR indemnity period for business interruption losses from 12 months to 18 months, reflecting that losses can continue after systems are restored, according to Insurance Journal.
The company also highlighted Cowbell’s announcement for AI-native cyber and specialty coverage for SMEs. Insurance Journal reports Cowbell introduced Risk Advisor, an individualized AI agent that provides policyholders a plan to reduce cyber risk, and said the agents operate within OMNI.