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 chargeable for the strategic underwriting administration of CFC’s total cyber portfolio.
Bailey re-joins CFC after practically 10 years at Markel International, the place he most not too long ago 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 growth of our cyber business over the past two years has been nothing short of phenomenal,” stated CFC chief underwriting officer Andy Holmes. “We’re now approaching $1 billion in premium and our portfolio of customers is one of the largest in the world. The range of businesses trusting our proactive cyber service stretches from micro enterprises to large global corporates across almost every industry sector and across the four corners of the world. As the size and complexity of our portfolio is only going to increase, we saw the need for a highly experienced cyber professional to manage our underwriting performance and deliver sustainable growth.”
“CFC has been a trailblazer in the cyber market for over twenty years and has constantly pushed the boundaries,” commented Bailey. “It was the first to build an in-house response capability – now the largest in the world – and it has revolutionized how cyber is underwritten, being the first cyber insurer to deliver a proactive service rather than just a reactive policy. I’m relishing the opportunity to work with the amazing talent on the CFC cyber underwriting team.”
Last yr, CFC revamped its insurance policies for tech and media corporations. The enhanced insurance policies supply complete cowl for the exposures these corporations face and eradicate the necessity for a number of insurance policies.