Cyber specialist CFC has revamped its fintech insurance and will host a webinar detailing the product next month.

Fintech team leader Hannah Durrant says CFC canvassed the fintech community to understand its risks and designed the new product to meet them.

“It’s a sector that is rapidly developing and the fusion of technology services with financial services is only increasing,” she said. “These overlapping risks cannot and should not be addressed separately so we felt it timely to refresh and enhance our proposition.”

The product offers enhanced cyber cover including first-party business interruption, unauthorised use of computer resources, hardware replacement costs, and threat intelligence and cyber incident response services.

It also features enhanced crime cover addressing social engineering and client fund theft, breach of contract, pre-investigation costs responding to regulatory investigations, and professional indemnity/errors and omissions cover with fewer sublimits.

CFC is based in London and has offices in Sydney, Melbourne, Perth and Brisbane, plus Brussels and the US.

It will host a Fintech: The Next Generation webinar on July 23. Register here.