Cyber incident response app unveiled by CFC Underwriting

CFC Underwriting has unveiled a cyber incident response app that will enable policyholders to notify them of a claim with a click of a button and receive specialist support from CFC’s global cyber incident response team. Users can also access global cyber news and are able to configure the app so that excess insurers and other members of the policyholder’s incident response team are notified at the same time. Anthony Hess, head of incident response at CFC said, “The longer it takes a policyholder to notify us that they’ve suffered a cyber incident regardless of whether it is an extortion demand or a system outage, the more damaging the impact can be on their business. Using the app, it will take just seconds to notify us that something has gone wrong and less than half an hour for our network of experts to respond.” Hess added that CFC’s cyber insurance proposition has evolved to become an incident response service as the number of cyber claims managed by CFC grew by 78% from 2015 to 2016 and the main types of attack being claimed for were privacy breaches and financial losses. 90% of claims by volume were from businesses with less than $50 million in revenue. CFC covers more than 25,000 companies against cyber risk in a variety of industries located in over 20 countries around the world. CFC’s cyber incident response app runs on iOS, Android and Windows mobile phones and further functionality will be added over the coming months.