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.