CFC has appointed Scott Bailey to the newly-created role of Cyber Underwriting Leader, responsible for the strategic underwriting management of the whole cyber portfolio.

Mr Bailey, who formerly spent 12 years managing CFC’s technology and media division, returns after almost a decade at Markel International where he was most recently MD Cyber Division. He also spent a year underwriting at CNA Europe.

“CFC has been a trailblazer in the cyber market for over twenty years and has constantly pushed the boundaries,” Mr Bailey said. “It has revolutionised how cyber is underwritten, being the first cyber insurer to deliver a proactive service rather than just a reactive policy.”

Headquartered in London with offices in Brisbane, New York, Austin and Brussels, CFC has nearly 700 staff and says it has built marketing leading positions in the UK, Canada and Australia, and is a top five cyber provider in the US.

It launched a proactive cyber service in 2019, providing policyholders with proactive security alerts it says have prevented thousands of cyberattacks by notifying customers.

Chief Underwriting Officer Andy Holmes says CFC’s cyber business growth over the past two years has been “nothing short of phenomenal”.

“We’re now approaching $1 billion in premium and our portfolio of customers is one of the largest in the world,” he said.

“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.”