Falvey Cargo Underwriting is excited to announce its latest product offering of Cyber for Cargo. Falvey recognizes that cyber risk exposure is an ongoing concern in all aspects of the global supply chain. Cyber exclusions are broad and apply to nearly all cargo insurance policies following the adoption of the LMA 5403 Cyber Endorsement in 2019.
This valuable coverage protects against physical loss or damage to goods while in the ordinary course of transit and/or while in storage caused directly or indirectly by the operation of any computer, computer system, computer software program, malicious code, computer virus, computer process or any other electronic system; that are otherwise excluded under the LMA 5403 Cyber Endorsement – a universal marine market exclusion.
“Every day we read about a new cyberattack! It’s critical that our brokers on behalf of their clients find coverage for these threats within the end-to-end supply chain. Something as simple as a misdirected shipment into the wrong hands could cause significant financial loss, and we now have a solution.” Graeme Schultz, Vice President and National Practice Leader at Falvey Cargo Underwriting.
Also Read: How to Build a Fool-Proof Threat Detection Program
This coverage is available as an add-on for all new and existing Falvey Cargo marine and stock throughput policies, and features:
- Limits up to $5,000,000
- Cost effective premiums with low minimums
- Ability to purchase mid-term
Falvey is proud to secure this product with Chaucer Group. As a leading provider of cyber, Chaucer is the ideal partner to bring this exclusive solution to Falvey clients.
For more information on the Cyber for Cargo product, please contact your Falvey Underwriter.
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