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Insurance policy

Moodi Mahmoudi avatar
Written by Moodi Mahmoudi
Updated over 2 weeks ago

At a glance

NEXT maintains comprehensive commercial and cyber insurance placed via CFC and underwritten by Lloyd’s Insurance Company S.A., with multi-million EUR aggregate limits appropriate for NEXT AI’s business model. Coverage areas include: privacy & network security, cyber, incident response & data recovery, business interruption, IP/media liability, regulatory fines (where insurable by law), public/product liability, and workers’ compensation.

Financial strength (why this matters):

Lloyd’s financial strength is rated AA- (Very Strong) by Fitch (see Lloyd’s official ratings). This underpins the claims-paying capacity behind policies arranged for NEXT AI.

Coverage overview

Coverage area

What it typically addresses

Examples

Privacy & network security / Cyber

Security incidents, privacy events, cyber extortion, crime

Cyber liability, cyber extortion, cyber crime, data loss

Incident response & restoration

Triage, forensics, notification, recovery

Incident response, data & system recovery

Business interruption

Loss of income and extra expense from covered outages

Business interruption

Media & IP

Content liability, defamation, copyright/trademark

Media liability, IP infringement, contractually assumed patent liability

Regulatory

Certain penalties/fines where insurable by law

Regulatory fines

General / Product

Bodily injury, property damage, product claims

Public liability, product liability

Workers’ compensation

Statutory employee injury coverage

Workers’ compensation insurance

Underwriting & capacity:

Policies are arranged via CFC and underwritten by Lloyd’s Insurance Company S.A. Aggregate limits are multi-million EUR; contact your account manager to request a COI or line-item schedule.

How this supports continuity & resilience

Insurance complements NEXT’s BC/DR program by minimizing business damage and protecting against legal liability when adverse events occur—aligned with NEXT AI’s security and continuity objectives

FAQ

Q: Can NEXT AI provide a Certificate of Insurance (COI) with limits and classes?

Yes. Contact your account manager to request a COI and, if needed, specific line-item schedules for your vendor review.

Q: Does NEXT aI carry dedicated cyber/privacy coverage?

Yes. Coverage specifically includes privacy & network security, cyber liability, cyber extortion, and cyber crime, plus incident response and data/system recovery.

Q: Who underwrites the policies and how strong is the paper?

Policies are underwritten by Lloyd’s Insurance Company S.A. Lloyd’s financial strength is AA- (Very Strong) by Fitch, reflecting robust claims-paying capacity.

Q: Do policies include business interruption coverage?

Yes—business interruption is included for qualifying events per policy terms. Request your COI/schedule for details.

Q: Are regulatory fines always covered?

Coverage references regulatory fines; applicability depends on policy and local law (“where insurable by law”). Your account manager can provide the relevant endorsements for review.

Q: Can NEXT AI add my company as “additional insured” or provide bespoke endorsements?

This may be available depending on line of coverage and jurisdiction. Ask your account manager; endorsements are reviewed case-by-case.

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