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7th July, 2009
CFC launches Esurance™ ICE
Specialist lines underwriting agency CFC announces today the appointment of Media Underwriter Janine Eagles who joins from Axis Capital (formerly MediaPro) with the remit to establish a media specialism at CFC. The news follows the recent appointment of Laurence Rossini, Technology underwriter from Hiscox and forms part of CFC's strategy of expansion across related professional lines.
Specialist lines underwriting agency, CFC Underwriting, launches today Esurance™ ICE, a tailored insurance policy for online gaming companies licensed in Malta.
ICE has been developed specifically for the emerging risks associated with operating an online gaming company in the current complex trading and legislative environment. ICE is backed 100% by Lloyd's of London and cover is provided on a worldwide basis as standard, excluding only US claims.
While many other policies have a contractual liability exclusion, ICE offers full breach of contract cover as well as cover for intellectual property rights infringement. Liability cover for software bugs which may give rise to over-redemption or mis-allocation of prize money is also included.
All gaming companies operating in Malta are required to appoint a 'key official' with extensive regulatory responsibilities, giving rise to potentially serious personal legal liability. ICE offers an automatic extension of cover for key officials ensuring their personal assets are protected in the event of a claim against them or the company they represent.
CFC's Business Development Director, Graeme Newman explains: "CFC specialises in providing insurance products for the technology industry. Our combined experience of writing insurance for technology companies for almost ten years and direct experience of the online gaming industry provides us with a unique insight into the insurance needs of this booming industry. By its very nature online gaming is about staking millions. That, combined with its global reach and complex legislative environment means that it's essential for companies to have the right policy with the right insurer."
Esurance™ ICE offers E&O as a core cover which can be combined with Cyber and Privacy, General Liability, Property, Business Interruption and D&O.
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