Policyholders under CFC’s $50 million large-line-size cyber cover can now access protection for property damage caused by a digital breach.

“It’s clear that in a world where computers are used to run more and more physical processes in the likes of the manufacturing and energy sectors, there is increasing need for property damage cover as part of a cyber policy,” CFC corporate cyber practice leader Andrew Prendergast said.

He says property insurers increasingly exclude cyber events, creating a gap CFC is addressing. Large corporate physical damage requirements are often far greater than those for non-physical cyber exposure, and there is a “need for the cyber market to offer meaningful capacity”. 

London-based CFC has offices in Australia, across Europe and in North America.