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CFC announces restructured policy for technology and media companies

CFC, a professional insurance company, has announced a revised policy for technology and media companies. According to CFC, the restructured policies comprehensively cover the exposures faced by these companies and eliminate the need for multiple policies.

Michael Brunero, Head of Technology, Media and IP at CFC, said: “Technology and media companies themselves are changing, and many new businesses are emerging, from online influencers and Vloggers to digital content creators. The exposure they face isn’t as clear as it was ten years ago. Nevertheless, our industry continues to provide coverage based on policies created over 20 years ago. These companies have a combination of exposures and one that can meet different needs. I need a policy. “

CFC’s revised policy mechanism covers all the exposures these companies face. Development includes:

  • Product and service responsibilities: Modern technology companies may offer manual work such as software and hardware products, advice and consulting services, and installation. CFC’s new cover protects them from claims of financial loss for personal injury or property damage resulting from the provision of these products and services.
  • Intellectual property infringement and defamation: While the technology industry is an area of ​​rapid growth and innovation, the media and entertainment industry is driven by content creation, making IP breaches a very common risk. CFC’s new policy covers a number of IP infringement allegations and defamation allegations.
  • Comprehensive Cyber ​​Coverage: The new policy provides coverage from CFC’s cyber team and includes free access to its app, Response. This gives policyholders access to a variety of proactive cybersecurity threat alerts, tools, and services.
  • Subrogation liability of subcontractors: Due to the widespread use of freelancers in the media sector, CFC now includes this cover as standard to ensure that the media business is protected in the event of liability for the mistakes of others. ..

Read next: CFC’s new tool reveals ransomware loss

“We are at the forefront of transforming the way the insurance industry offers by leveraging 20 years of experience and new risk expertise to design policies that cover the entire exposure spectrum of today’s modern technology and media companies. I’m proud to be at. A cover that works in the digital world, “says Brunero. “The scale of these businesses is huge. They reach every part of their daily lives and only expand their reach as the world becomes more and more digital. Our new wording is these. We provide a simple and sophisticated cover that enables corporate insurance to respond seamlessly under one understandable policy. “

CFC announces restructured policy for technology and media companies

Source link CFC announces restructured policy for technology and media companies

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