22 March 2023Analysis

CFC expands product suite

CFC has expanded its admitted product suite with the addition of professional liability and technology E&O. The company has been trading its admitted solution for cyber since 2020.

Leveraging CFC’s trading platform and API – Connect – US brokers can now auto-rate and bind admitted professional liability policies for more than 500 SMB professions in just a few minutes.

“The response to our admitted cyber product has been overwhelming, so it only made sense to add solutions for other high-volume SME lines like professional liability and tech E&O,” said Shannon Groeber, chief executive of CFC USA.

“CFC is committed to supporting brokers and clients with products in whichever format suits their needs, whether admitted or surplus. Utilising Connect has been key to our success, enabling brokers to quote, bind and adjust policies with minimal underwriter intervention.”

CFC’s admitted professional liability product protects professional individuals and companies from actual or alleged errors, omissions, negligence or failure to meet a standard of care when providing advice or services to clients. Full professional liability cover is available upon request for breach of contract, vicarious liability of subcontractors, intellectual property rights infringement and a host of other risk exposures. It is designed to meet the needs of a wide range of professionals and businesses with revenues of less than $25M ranging from environmental consultants and nutritionists to private investigators and management consultants.

Similarly, CFC’s admitted solution for technology E&O is designed for small traditional technology companies, technology service providers, software developers and hardware providers with revenues less than $25M. It includes comprehensive cyber cover for a wide variety of cybercrime events, system damage and business interruption, whilst media liability cover provides protection against a host of IP infringement allegations.

With unlimited retroactive coverage included as standard, both policies ensure that professional individuals and small businesses have the best possible protection from inception.

“Our admitted team has continued to grow since our launch in 2020, supporting thousands of brokers around the US with fit-for-purpose policies and frictionless trading,” continued Groeber. “We look forward to expanding our reach even further with the addition of these new admitted solutions.”