UK-based CFC Underwriting has launched its bespoke e-health product in Australia as part of a global rollout.

The policy achieved success when it was first offered in the US, with more than 220 healthcare businesses signing up.

CFC sees potential for the product in Australia because the Federal Government recently unveiled a $55 million investment in the digital health technology and services industry.

“We’re seeing incredible uptake in the US from both traditional healthcare providers that are adopting technology as part of day-to-day patient care [and] from the technology platforms themselves,” CFC Healthcare Team Leader Timothy Boyce said.

“But demand isn’t limited to the US, so it only makes sense for us to make this cover broadly available in other regions.”

The product provides affirmative cover for bodily injury arising from advice given by companies and practitioners, plus technology failures and cyber events.

“Digital healthcare companies have found themselves in a grey area where affirmative cover is foggy,” Mr Boyce said.

“Malpractice policy triggers are fairly static and cyber policies exclude bodily injury.

“So where do they go? What’s needed is a bespoke product that addresses the overlap of technology and healthcare risks these businesses experience.”