Crum & Forster (C&F) has launched FInTECH ONE, an integrated fintech insurance solution that consolidates E&O, cyber and multimedia liability coverages into a single policy.
This offering is designed to address the complex risks that financial technology companies face in a digital landscape.
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The FInTECH ONE policy offers a four-in-one coverage plan, merging financial services E&O, technology E&O, cyber liability and media liability.
This combination allows fintech companies to streamline their insurance needs, providing a comprehensive safety net under one policy.
Customisation is key to the FInTECH ONE policy, with tailored E&O coverage options for different sub-classes within financial institutions.
Additionally, C&F offers cyber risk management resources through its portal, CFcyberASSIST.com.
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By GlobalDataThese include executive tabletop exercises, incident response plan reviews and phishing awareness training, all aimed at enhancing cyber resilience.
C&F executive risk senior vice-president Leigh McMullan said: “This new policy represents C&F’s commitment to setting a new standard for financial services insurance by integrating diverse risk management needs into a single, client-centred solution.
“With our dedicated team and a comprehensive approach, C&F is leading the way in providing a holistic professional liability offering for the fintech industry.”
A specialised claims and underwriting team at C&F supports this integrated insurance solution, offering expert guidance, from risk assessment to claims resolution.
The cyber solutions team provides additional value through ongoing risk management resources and free access to incident response planning and simulations.
When cyber incidents occur, the company’s cyber solutions team steps in to assist the customer throughout the incident response.
Working in tandem with the cyber claims team, it aims to resolve claims and minimise the impact on the insured’s business operations.
The latest offering comes on the heels of C&F’s launch of a professional liability insurance policy for chief information security officers.
