Specialist insurance coverage supplier CFC has appointed Scott Bailey (pictured) to the newly created position of cyber underwriting chief.
In his new position, Bailey will probably be accountable for the strategic underwriting administration of CFC’s total cyber portfolio.
Bailey re-joins CFC after practically 10 years at Markel Worldwide, the place he most lately served as managing director of the cyber division for the final 4 years. He additionally served because the European underwriting director for know-how/cyber at CNA Europe for a yr. When he was beforehand part of CFC, Bailey spent 12 years managing the know-how and media division.
“The expansion of our cyber enterprise over the previous two years has been nothing in need of phenomenal,” mentioned CFC chief underwriting officer Andy Holmes. “We’re now approaching $1 billion in premium and our portfolio of shoppers is among the largest on this planet. The vary of companies trusting our proactive cyber service stretches from micro enterprises to giant world corporates throughout virtually each trade sector and throughout the 4 corners of the world. As the scale 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 always pushed the boundaries,” commented Bailey. “It was the primary to construct an in-house response functionality – now the most important on this planet – and it has revolutionized how cyber is underwritten, being the primary cyber insurer to ship a proactive service moderately than only a reactive coverage. I’m relishing the chance to work with the superb expertise on the CFC cyber underwriting staff.”
Final yr, CFC revamped its insurance policies for tech and media corporations. The improved insurance policies supply complete cowl for the exposures these corporations face and remove the necessity for a number of insurance policies.
