Specialist insurance provider CFC has announced the expansion of its admitted product suite offerings with the additions of professional liability and technology E&O.
Leveraging CFC’s trading platform and API – Connect – US brokers will now possess the ability to auto-rate and bind admitted professional liability policies for more than 500 SMB professions in just a few minutes.
Shannon Groeber, CEO of CFC USA, said: “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. CFC is committed to supporting brokers and clients with products in whichever format suits their needs, whether admitted or surplus. Utilizing 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 will protect professional individuals and companies from actual/alleged errors, omissions, negligence or failure to meet a standard of care when providing a service to its clients.
The company confirmed that full professional liability cover is available upon request for breach of contract, vicarious liability of subcontractors, intellectual property rights infringement as well as a host of other risk exposures.
Additionally, the cover has been designed to meet the needs of a wide range of professionals and businesses with revenues of less than $25 million, which ranges from environmental consultants and nutritionists to private investigators and management consultants.
At the same time, CFC’s admitted solution for technology E&O is designed for small technology companies, technology service providers, software developers, as well as hardware providers with revenues less than $25 million.
The solution 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.
Groeber, added: “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. We look forward to expanding our reach even further with the addition of these new admitted solutions.”
At the beginning of the year, CFC launched a dedicated fintech team as part of its financial practice.
