9 February 2023Insurance

CFC rehires cyber underwriting leader from Markel after solid growth

Specialist insurance provider  CFC has rehired a cyber underwriting leader from Markel International on the heels of “phenomenal” growth in its cyber line and the business approaching $1 billion in premium.

The company has appointed Scott Bailey (pictured) to the newly created role of cyber underwriting leader, responsible for the strategic underwriting management of CFC’s entire cyber portfolio.

Bailey returns to CFC after almost 10 years at Markel International, the last four as managing director of its cyber division, and a year as European underwriting director for technology/cyber at CNA Europe. He previously spent 12 years at CFC managing the technology and media division.

Andy Holmes, chief underwriting officer at CFC, said: “The growth of our cyber business over the past two years has been nothing short of phenomenal. We’re now approaching $1bn 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.”

Bailey commented: “CFC has been a trailblazer in the cyber market for over twenty years and has constantly pushed the boundaries. It was the first to build an in-house response capability – now the largest in the world – and it has revolutionised 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.”

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