Bailey returns to CFC

CFC has appointed Scott Bailey as cyber underwriting leader.

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 and cyber at CNA Europe. He previously spent 12 years at CFC managing the technology and media division.

In his new role, Bailey will be responsible for the strategic underwriting management of CFC’s entire cyber portfolio.

“The growth of our cyber business over the past two years has been nothing short of phenomenal. We’re now approaching US$1bn in premium and our portfolio of customers is one of the largest in the world,” said Andy Holmes, chief underwriting officer at CFC. “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 added: “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.”

    Share Story:

YOU MIGHT ALSO LIKE


Cyber risk in the transportation industry
The connected nature of the transport and logistics industries makes them an attractive target for hackers, with potentially disruptive and costly consequences. Between June 2020 and June 2021, the transportation industry saw an 186% increase in weekly ransomware attacks. At the same time, regulations and cyber security standards are lacking – creating weak postures across the board. This podcast explores the key risks. Published April 2022.

Political risk: A fresh perspective
CIR’s editor, Deborah Ritchie speaks with head of PCS at Verisk, Tom Johansmeyer about the confluence of political, nat cat and pandemic risks in a world that is becoming an increasingly risky place in which to do business. Published February 2022.