UK-based cyber specialist insurance provider CFC has acquired Queensland cyber security firm Insane Technologies.
The deal, which is subject to approval by the Australian Foreign Investment Board, will see CFC expand its in-house cyber security incident response team, which has handled more than 2000 cyber claims in the past 12 months.
“Like us, Insane have been handling cyber security incidents for over two decades and are one of the most experienced providers in the market,’ CFC CEO Dave Walsh said.
Insane Technologies was founded in 2000 by current CEO, David Rudduck and specialises in providing small- to medium-sized businesses with cyber security incident response, consultancy and project management services.
“CFC is one of the only cyber insurance providers in the market who are leading the way in incident response, threat intelligence and risk management,” Rudduck said.
CFC maintains a suite of cyber insurance products and recently released the latest version of its cyber incident response app that provides real-time threat intelligence alerts, on-demand access to CFC’s response team and the ability to instantly notify a claim or cyber incident.
CFC also recently launched its self-service trading platform for cyber insurance called Connect, which offers the ability to quote and bind a cyber policy in minutes.
CFC has been on an acquisition spree, snapping up Texas-based incident response provider, Solis Security in October 2019 and insurtech ThreatInformer last year.