Fairfirst Insurance pioneers cyber insurance segment
Fairfirst Insurance launched cyber insurance and has already become the market leader in this segment by insuring a number of leading financial as well as nonfinancial organisations as its clients.
Cyber insurance from Fairfirst is designed to help not only large corporates but also the SMES and even individuals. For corporates and SMES, Fairfirst Insurance covers losses that would range from network security breaches, loss of privacy, indemnification from lawsuits related to data breaches and even business interruption losses following a cyberattack.
This insurance also covers legal liability claims arising from third parties to the insured, due to a breach of privacy as a result of a cyberattack. Fairfirst Insurance Chief Sales Officer Sanjay Siriwardena mentioned, “The use of digital technologies in financial and economic activities creates significant benefits in terms of convenience, productivity and efficiency but also leads to significant risks. In order to address these digital security risks, we provide a comprehensive suite of insurance solutions that offer a range of covers to individuals and corporate entities across this beautiful island. The successful delivery as well as the comprehensiveness of this product has resulted in great demand and trust amongst many top brands across financial and nonfinancial industries at a rapid pace. And when focusing on the economy as a whole, I believe that Fairfirst cyber insurance provides the perfect safety net for corporates and individuals alike to thrive in the new normal whilst transforming their businesses and lifestyles.”