CFC has launched a new insurance solution for multi-national technology companies with revenues of more than approximately £200m. CFC said tech companies hold vast amount of data and their intangible assets were increasing exponentially in value. This meant they carried significant exposures.

Michael Brunero, head of tech, media and IP at CFC, said: “This is the most exposed industry across the size spectrum and as an innovator in building insurance solutions to cover these exposures, we’re using our years of underwriting and claims expertise to bring comprehensive new cover to this market.”

He added: “CFC has traditionally helped protect SMEs in the tech space, however, as we have developed our specialist knowledge and expertise in the tech sector over the past two decades, we feel this is the right moment to diversify our portfolio and extend our expertise to larger corporate tech businesses.”