Falvey Cargo Underwriting Now Offering Cyber for Cargo

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Mar 15, 2022, 09:38 ET

NORTH KINGSTOWN, R.I., March 15, 2022 /PRNewswire/ -- 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.

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.

About Falvey Cargo Underwriting

Falvey Cargo Underwriting, a Falvey Insurance Group company, underwrites marine cargo coverage in three cargo industry segments: General Cargo, Life Sciences, and Technology. Founded in 1995, Falvey Cargo Underwriting has evolved into the largest cargo covernote holder at Lloyd's of London, offering the highest capacity in the marine cargo market. Falvey Cargo has over 150 years of combined marine cargo underwriting experience, global reach with local expertise servicing clients around the world from offices throughout the U.S., Canada, and London, and dedicated loss prevention, claims processing, and recovery services in-house.

www.falveycargounderwriting.com

Media contact:
Megan Bell
1-401-214-5600
[email protected]

SOURCE Falvey Insurance Group