Europe’s cyber and technology landscape is evolving fast, and leading the charge to protect businesses is Ilaria Salvato, CFC’s Corporate Cyber & Tech EMEA Team Leader. Ilaria’s role is pivotal in driving CFC’s growth across Europe and building a thriving portfolio across the region. In this edition of Meet the Expert, Ilaria reveals how CFC is helping brokers and businesses navigate a fast-changing risk landscape.
Tell us about your background. Why CFC?
I’m a trained lawyer, but I’ve been working in insurance since 2010. I studied in London and worked in cyber claims initially, before helping to grow a global insurer’s underwriting portfolio in Europe.
When the opportunity at CFC arose, I was really excited at the prospect of helping to lead our European proposition and grow our market share in the region. My good friend Andrew Prendergast, Head of Global Corporate Cyber and Tech at CFC, was another key reason I decided to join the team. His passion for cyber and knowledge about the business and products we sell are second to none. Right from the beginning, Andrew showed me how I could make a real, positive impact at CFC – and of course, how I could work with brokers to extend vital cyber and tech protection to businesses across Europe.
In 2024 CFC opened offices in Madrid, Barcelona and Amsterdam. How are these openings supporting our brokers and clients in Europe?
The new office openings have massively supported brokers. European brokers naturally find it easier to work with those based in the same region as them or who speak the same language. There can be communication or distance barriers when dealing only with a London-based team. Opening offices in these regions proves to our brokers that as a business we are committed to growing our footprint in Europe. Whether you’re an underwriter or someone working in business development, the closer you are to your broker, the easier it is to build lasting relationships.
The ability to show up in person and meet face-to-face without the need for long distance travel is also really important for connecting with brokers. By having boots on the ground and a local presence, we can understand the cultural nuances and use our deep knowledge of the region to give our brokers the best support possible.
Opening offices in Madrid, Barcelona and Amsterdam proves to our brokers that as a business we are committed to growing our footprint in Europe. Whether you’re an underwriter or someone working in business development, the closer you are to your broker, the easier it is to build lasting relationships. Ilaria Salvato, Corporate Cyber & Tech EMEA Team Leader
As Corporate Cyber & Tech EMEA Team Leader, what’s the one thing you want brokers to know about the market and insurance as a de-risking mechanism?
In my experience, businesses often don’t realize the level of risk they are exposed to – and how big a potential cyber loss can be. You can have the best cyber security in town but the risk of an incident happening is always there. That’s why insurance is so important.
At CFC, we offer services that help businesses see the whole picture, such as our Cyber Threat Reviews, available for SMEs through our underwriters. We also provide market-leading educational content for our brokers, so it’s easier to convey the true nature of cyber risk, how cyber insurance is key, and which policy is right for the business.
What are the key cyber and tech trends we’re seeing impact European businesses?
Europe is heavily regulated, and businesses here are increasingly required to adhere to legal frameworks. For example, Europe’s AI Act was the first of its kind, requiring businesses to fully assess the risk level of their AI systems and comply with safety rules when implementing them.
Technology and cyber exposures are very overlapping. If you have a claim where the technology policy is placed with one insurer and the cyber with another, you’ll face problems somewhere within the claims journey as the point of blame is debatable. That’s why we always advise clients to combine their cyber and technology policies to ensure they are fully covered and claims are paid out.
At CFC, we offer services that help businesses see the whole picture, such as our Cyber Threat Reviews, available for SMEs through our underwriters. We also provide market-leading educational content for our brokers, so it’s easier to convey the true nature of cyber risk, how cyber insurance is key, and which policy is right for the business. Ilaria Salvato, Corporate Cyber & Tech EMEA Team Leader
How do you like to spend your time outside of the office?
I’m a trained pilates instructor! Outside of the office, you’ll probably find me doing some form of high intensity pilates in a hot room at 37 degrees, which I love.
I also enjoy reading, art and travelling. My weekends are usually filled catching up with friends and family.
