Specialist insurance coverage supplier CFC has appointed Scott Bailey (pictured) to the newly created function of cyber underwriting chief.
In his new function, Bailey will likely be chargeable for the strategic underwriting administration of CFC’s whole cyber portfolio.
Bailey re-joins CFC after almost 10 years at Markel Worldwide, the place he most just lately served as managing director of the cyber division for the final 4 years. He additionally served because the European underwriting director for expertise/cyber at CNA Europe for a 12 months. When he was beforehand part of CFC, Bailey spent 12 years managing the expertise and media division.
“The expansion of our cyber enterprise over the previous two years has been nothing wanting phenomenal,” mentioned CFC chief underwriting officer Andy Holmes. “We’re now approaching $1 billion in premium and our portfolio of consumers is among the largest on the planet. The vary of companies trusting our proactive cyber service stretches from micro enterprises to giant international corporates throughout virtually each business sector and throughout the 4 corners of the world. As the dimensions and complexity of our portfolio is barely going to extend, we noticed the necessity for a extremely skilled cyber skilled to handle our underwriting efficiency and ship sustainable progress.”
“CFC has been a trailblazer within the cyber marketplace for over twenty years and has continuously pushed the boundaries,” commented Bailey. “It was the primary to construct an in-house response functionality – now the most important on the planet – and it has revolutionized how cyber is underwritten, being the primary cyber insurer to ship a proactive service relatively than only a reactive coverage. I’m relishing the chance to work with the wonderful expertise on the CFC cyber underwriting staff.”
Final 12 months, CFC revamped its insurance policies for tech and media firms. The improved insurance policies supply complete cowl for the exposures these firms face and get rid of the necessity for a number of insurance policies.
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