Fairfirst Insurance promotes cyber insurance

Thursday, 7 January 2021 00:00 - - {{hitsCtrl.values.hits}}

Fairfirst Insurance Chief Sales Officer Sanjay Siriwardena

Fairfirst Insurance has launched cyber insurance and has already insured a number of leading financial as well as non-financial organisations as their clients.

In a statement the company said cyber insurance from Fairfirst was designed to help not only large corporates but also 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 cyber-attack. 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 cyber-attack.

Fairfirst Insurance Chief Sales Officer Sanjay Siriwardena said: “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 non-financial 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.”

Among the top general insurance companies of Sri Lanka, Fairfirst serves individuals, businesses and institutions across this beautiful island through a versatile workforce spread across a comprehensive branch network, affinity partners and leading brokers in the market.

Fairfirst Insurance is also part of the Canadian based Fairfax Group. Fairfax, through its subsidiaries, has an international insurance and reinsurance business with a global underwriting reach, longstanding relationships and a broad product range. Fairfax has a strong foothold in the growing insurance and reinsurance markets of Southeast Asia, Eastern Europe, the Middle East, and Brazil.