Reinsurance News

CFC appoints Markel’s Scott Bailey as Cyber Underwriting Leader

10th February 2023 - Author: Jack Willard

Specialist insurance provider CFC, has announced that it has appointed Scott Bailey as Cyber Underwriting Leader.

In this newly created role, he will be responsible for the strategic underwriting management of CFC’s entire cyber portfolio.

Bailey returns to CFC after almost 10 years of service Markel International. During his last four years at the firm, he served as managing director of its cyber division, and a year as European underwriting director for technology/cyber at CNA Europe.

Previously, Bailey spent 12 years working at CFC, where he managed the firms technology and media division.

Having previously worked at the firm, and spent nearly a decade working at Markel, Bailey is a great fit for the role as he brings many years of expertise and experience.

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Commenting on his new role, Bailey said: “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.”

Andy Holmes, Chief Underwriting Officer at CFC, added: “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.”

Earlier this year, CFC announced the creation of a dedicated fintech team as part of its financial practice.

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