CFC updates fintech insurance cover

CFC has made a “major overhaul” to its fintech insurance cover in the UK, Canada and Australia, across both professional service and technology exposures.

The specialist insurer’s fintech product now includes enhanced cyber cover such as first party business interruption, unauthorised use of computer resources, hardware replacement costs, and CFC’s proactive threat intelligence and cyber incident response services.

Enhanced crime cover addressing social engineering and client fund theft, along with breach of contract cover focusing on the gap that most have in respect of technology services are both included in the updated product.