Jamie Bouloux joins CFC Underwriting

Jamie Bouloux joins CFC Underwriting4 Mar 15: Specialist lines underwriting agency, CFC, today announces that Jamie Bouloux has joined its corporate cyber practice.

A well-known and highly respected figure in the global cyber market, Jamie joins the business from AIG where he was head of cyber and technology liability for Europe, Middle East and Africa. In his new role at CFC, Jamie will be driving the development of its large corporate cyber product on a global basis.

CFC launched its specialist cyber product for large corporates last summer. Offering limits up to $40M, the product provides broad cover for system damage and business interruption on a full non-physical perils basis and extends cover to protect companies against technology supply chain failure.

CFC director, Graeme Newman says: “Cyber risk is no longer just about data breaches. Since launching this ground-breaking facility last year, we’ve helped some of the world’s biggest brands secure the level of coverage they need not just for a data breach but also catastrophic technology failure and outage. Given the level of demand we’re experiencing and the continually evolving cyber risk landscape, we’re committed to driving the development of our large corporate product offering and so I’m delighted to welcome Jamie to our team. He has tremendous knowledge of the global cyber market and in particular, his experience in Europe and the Middle East will help us build our presence outside the markets where we are well established such as the UK, Canada, Australia and the US.”

Commenting on his new role, Jamie Bouloux adds: “Cyber insurance is in the spotlight more than ever. Governments around the world might debate security and privacy issues however insurers can’t sit back and await the outcomes. Huge global companies are at increasing risk from a growing number of cyber threats and we have a responsibility to provide cover that is fit for purpose. CFC has long been at the forefront of cyber risk and I’m excited to have joined a business that isn’t afraid to look at things differently and push the boundaries.”

CFC expands IP team with new appointment

Intellectual Property15 Oct 2014: Specialist lines underwriting agency CFC, has today announced the appointment of Matthew Muggeridge as an underwriter on their intellectual property team.

Matthew joins CFC from Liberty Special Markets where he held the position of Underwriting Assistant within its strategic assets department. He has experience in devising innovative insurance products for emerging risks, with a strong focus on US-domiciled intellectual property and cyber underwriting.

In his new role, Matthew will work alongside Erik Alsegard, Intellectual Property Practice Leader, and the CFC IP team to drive forward the development and growth of CFC’s recently launched IP product.

Speaking about Matthews’s appointment, Alsegard said: “All business sectors now face increased competition where intellectual property is seen as a key competitive advantage, and this means that the associated risks are increasing. Our IP product is tackling these issues head on and has made a big impact in the market, but we are driven to achieve more. Matt’s knowledge of the IP needs of businesses around the globe, US IP law and insight into emerging IP risks will be invaluable in helping us achieve our ambitions. He is a great fit for our team, all of whom are selected based on their ability to innovate and deliver fresh ideas to specialist insurance markets.”

Matthew commented: “CFC offers me a new and exciting challenge. I look forward to building on the experience I have already gained at Liberty, and to working alongside Erik and the rest of the CFC team. CFC’s IP product is an example of true innovation in a highly complex and competitive market and I could not be more thrilled to be part of it.”

CFC appoints Matt Helm to spearhead its expansion into the contingency insurance market

35f99c5 (1)2 Oct 2014: Specialist lines underwriting agency, CFC, today announced the appointment of Matt Helm as Contingency Practice Leader. This new role will see Matt spearhead CFC’s expansion into this rapidly growing marketplace.

Matt has over 20 years London Market broking and underwriting experience, placing risks within both the Lloyd’s and wider general insurance markets. He joins CFC from PIMS-SCA, a global risk management company in the digital, gaming, lottery and sports markets where he was a board director and business producer underwriter.

In this newly created role, Matt will direct his expertise towards defining and building CFC’s new specialist range of contingency insurance market products including over redemption, prize indemnity, and event cancellation insurance.

CFC Underwriting Director Andrew Holmes comments: “The contingency market has vast potential and is a great fit for CFC. We don’t shy away from pushing the boundaries and tackling markets where businesses have huge financial exposures that need to be addressed with specialist products. With his extensive relationships across the digital, gaming, lottery and sports markets, as well as his board level management experience, Matt is well placed to spearhead our latest expansion and we are delighted to welcome him on board.”

Matt Helm commented: “I am excited at having the opportunity to bring a fresh approach to the contingency insurance market and develop this new practice for CFC. I have many ideas as to how we can deliver new levels of innovation in insurance and risk management for businesses in this sector of the market, and see real opportunity for CFC to become a leading player both within the UK and across the the world.”

TechAssure names CFC’s Graeme Newman as John Love Award recipient

CFC amongst the winners at the 2015 Advisen Cyber Risk AwardsSep 14: TechAssure, the international association of insurance and risk management experts for technology-related industries, announced today that Graeme Newman of CFC Underwriting is the 2014 recipient of the John Love Risk Innovation Award. The award is presented each year to an insurance professional who has demonstrated ingenuity, innovation and intellect to solve an issue within the risk management industry. Graeme was presented the award by TechAssure Chairman Bryan Costello, of Costello & Sons Insurance, and Executive Director Garrett Droege during their fall conference in Denver, CO.

“Graeme has been a pioneer for developments within the cyber liability and social media insurance marketplace and has creatively addressed many of the challenges in the industry,” said Droege. “CFC Underwriting has become one of the leading providers of cyber insurance, both domestically and internationally, and Graeme Newman has been critical in their growth.”

Newman currently serves as Marketing Director at CFC Underwriting – a UK-based underwriting agency for Lloyd’s of London. Previously, Newman was a consultant for Deloitte.

The John Love Award was created in 2012 after long-time TechAssure Director, John Love, passed away suddenly. John Edward Love, CPCU, was well-known in the insurance industry as a dynamic and creative individual who addressed any challenge with finesse and ease. The award is meant to celebrate his “out-of-the-box” thinking and vision.

CFC launches new intellectual property product

CFC915195 (2)16 Jul 2014: Specialist lines underwriting agency CFC has today announced the launch of its new intellectual property product. With a focus on small and medium sized companies, this product can cover the costs associated with a number of intellectual property exposures, not least, infringement.

Speaking about the launch Erik Alsegard, Intellectual Property Practice Leader at CFC said: “All business sectors now face global competition where intellectual property (IP) is seen as a key competitive advantage, whether it is a patent, trade mark or other rights. The importance placed on IP also means that the associated risks are increasing and despite the best intentions any company may face infringement allegations, be it from a competitor or a patent troll. To the same extent, as the owner of IP rights, there is little point in holding on to the rights if you cannot afford to enforce them when necessary.”

CFC’s new product addresses these issues and provides a comprehensive solution which covers not only the costs and potential damages in the defense or enforcement of an infringement action but also the potential loss of a right or a loss of profit. Where a right is lost through a dispute, the costs incurred in obtaining and maintaining the right can be recovered by the insurance. In the event that a company is unable to continue selling its product, it can also cover the loss of profit.

Erik expanded on this point, stating: “With the broad scope of cover available under our new IP insurance, we want to enable our customers to operate in a competitive environment by removing the significant costs incurred if any of the risks come true. Unless you are a very large company, IP litigation and associated costs can harm the balance sheet significantly and potentially prevent trading.”

CFC launches new intellectual property product

16th July 2014

Specialist lines underwriting agency CFC has today announced the launch of its new intellectual property product. With a focus on small and medium sized companies, this product can cover the costs associated with a number of intellectual property exposures, not least, infringement.

Speaking about the launch Erik Alsegard, Intellectual Property Practice Leader at CFC said: “All business sectors now face global competition where intellectual property (IP) is seen as a key competitive advantage, whether it is a patent, trade mark or other rights. The importance placed on IP also means that the associated risks are increasing and despite the best intentions any company may face infringement allegations, be it from a competitor or a patent troll. To the same extent, as the owner of IP rights, there is little point in holding on to the rights if you cannot afford to enforce them when necessary.”

CFC’s new product addresses these issues and provides a comprehensive solution which covers not only the costs and potential damages in the defense or enforcement of an infringement action but also the potential loss of a right or a loss of profit. Where a right is lost through a dispute, the costs incurred in obtaining and maintaining the right can be recovered by the insurance. In the event that a company is unable to continue selling its product, it can also cover the loss of profit.

Erik expanded on this point, stating: “With the broad scope of cover available under our new IP insurance, we want to enable our customers to operate in a competitive environment by removing the significant costs incurred if any of the risks come true. Unless you are a very large company, IP litigation and associated costs can harm the balance sheet significantly and potentially prevent trading.”

Paxton joins CFC to head its cyber, technology and media team

CFC91532916 May 2014: Specialist lines underwriting agency, CFC, today announced that Victoria Paxton has joined the business from Beazley as the Practice Leader for Cyber, Technology and Media.

A well-known and highly respected figure in the London market, Victoria is a renowned specialist in cyber with over 15 years experience in this class of business most recently as Beazley’s senior underwriter for cyber focusing on US healthcare. Previous to Beazley, she also excelled at roles at both Willis and Aon, and in 2012, was shortlisted for the Young Underwriter Meteor of the Year Award at the Insurance Insider Honours.

Having identified the new breed of risks posed by media and technological advance before the turn of the millennium, CFC pioneered the development of cyber liability to become one of the most pre-eminent insurers in the cyber market. CFC now has 13 year’s experience of writing innovative cyber policies that truly address the real risks faced by its clients in over 60 countries around the world. They have also built an impressive team that are changing the face of cyber cover and constantly innovating to address the changing landscape of cyber risk worldwide.

CFC Underwriting Director Andrew Holmes says: “We are delighted to welcome Vicky on board. Her appointment is part of a major investment we’re making in cyber and being able to attract one of the top underwriters from the current market leader is a real coup for us. I believe her appointment shows our commitment to bring on board leading industry professionals to drive constant expansion and innovation in existing lines of business as well as new areas at CFC.”

Commenting on her new role Paxton said: “I’ve always admired how CFC has been at the forefront of cyber risk and responsible for much of the innovation that we’ve seen in the market over recent years. It’s possibly the most dynamic class of business to be involved in as the risk landscape is constantly changing. I’m very excited at the prospect of being part of a business that is looking to push the boundaries in this area and others.”

CFC targets not for profit sector

CFC Recruits New Head of Management Liability14 Mar 2014: Specialist lines underwriting agency CFC has today announced the launch of NFP, its comprehensive insurance solution for the not for profit sector.

With competitive premiums for small organisations, NFP is an innovative insurance product that addresses the unique and diverse needs of a broad spectrum of not for profits, from trade associations and charity workers to leisure groups and schools.

Speaking about the launch, Kate Lyes, Senior Management Liability Underwriter commented: “The role of a not for profit organisation is going through significant change and they are finding themselves more exposed than ever before. For years they have been reliant on income from government contracts and grants, however due to the economic downturn, they face government cuts and a reduction in public donations at a time when their services are in demand more than ever.

“The result has been a significant change to the way their services are being commissioned and financed. There is an increased reliance upon volunteer work, continual discussions on mergers with other not for profits and growing potential for staff redundancies. All this gives rise to management liability risks that must be addressed.”

NFP has been designed specifically to address this new not for profit landscape, the new funding structure, and the increased responsibility placed on trustees.

NFP is a comprehensive, modular bundle of management liability covers including trustee liability, employment practices liability, pension benefit plan liability, crime, cyber and privacy, and kidnap and ransom. In addition to this, in order to simplify the insurance buying process for smaller entities, the product also includes other essential covers such as professional liability, commercial general liability, and property.

CFC’s legal expenses cover provides valuable protection for Canadian businesses

Expert advice12 Feb 2014: Specialist lines underwriting agency, CFC has announced that it has enhanced its product range in Canada by adding the option to include essential legal expenses protection across all of its policies.

This new optional add-on cover provides indispensable protection for the wide range of legal issues faced by small businesses, including everything from bodily injury claims, employee and tax disputes to landlord and property issues. Most importantly of all, by purchasing this cover businesses receive free access to a legal advice helpline that can act as the first port of call for any legal issue they may be facing.

Andy Holmes, Underwriting Director at CFC, explains: “Businesses face a myriad of potential disputes and obtaining legal help can quickly become expensive resulting in crippling costs, particularly for smaller businesses. By offering Canadian companies the opportunity to add legal expenses cover to their existing CFC policies and providing swift access to legal advice, we are once again demonstrating our commitment to providing our clients with the highest levels of cover.”

The free legal advice nationwide helpline and CFC’s legal expenses claims are handled by STERLON Underwriting Managers Ltd, Canada’s leading legal expenses insurance provider. Cover is available from as little as $185.

Nick Woodward joins CFC in new role as Claims & Products Director

iStock_000023628221_Small30 Jan 2014: Specialist lines underwriting agency, CFC, today announced that Nick Woodward has joined the business from HCC International to take up the brand new role of Claims & Products Director.

A highly regarded claims professional and solicitor, Nick has a proven track record of initiating and driving wholesale changes within multi-national insurers to improve service levels and business profitability. Before joining HCC, Nick spent eleven years working for blue-chip law firms including Eversheds, CMS Cameron McKenna and Davies Arnold Cooper.

In this newly created role, Nick will be responsible for ensuring that CFC continues to deliver a first-class claims service and maintains its reputation for developing market-leading products. CFC Underwriting Director Andrew Holmes says: “We view claims service and product quality as critical to the future success of CFC and so we are delighted to have found someone of Nick’s calibre to drive these two areas forward. He is particularly well qualified to lead our efforts to further improve our claims service given his experience in heading up casualty claims at HCC while his legal background makes him ideally suited to overseeing the output from our product teams.” Commenting on his new role Nick said: “I’ve been bowled over by the passion and enthusiasm that CFC has for developing best of breed products backed up by a claims service that is second to none. The business is entering an exciting new phase in its development and I’m truly excited to be a part of it.”