News May 11, 2023

CFC expands US Cyber leadership team with appointment of Michael Phillips

CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, announced today that it has appointed Michael Phillips as Cyber Practice Leader, USA.

In this newly created role based out of New York, Michael will drive CFC’s cyber underwriting strategy and broker development in the US with a specific focus of CFC’s admitted cyber product.

Michael brings with him deep industry expertise and an impressive track record in both cyber underwriting and claims which will be invaluable as we continue to deliver our proactive cyber proposition to customers throughout the US Shannon Groeber, CEO at CFC USA

“He joins an experienced bench of senior cyber leaders who ensure that CFC stays at the forefront of the market, leading the way in coverage, claims and cyber security services built to protect our customers against cyber risk.”

Michael joins CFC with nearly a decade’s experience as a senior leader in the speciality insurance market, most recently as Chief Claims Officer at Resilience, Head of Cyber, Media & Technology Claims at Allianz Global with responsibility for the North American market, and Tech Counsel at Beazley looking after Cyber and Tech Complex Claims. He was previously a litigator in commercial private practice for 8 years and has been a frequent writer on law and technology, published in The New Yorker, Buzzfeed and Bloomberg. Michael also serves as Co-Chair of the Ransomware Task Force, drawing upon public policy experience at the Clinton Foundation, the United States Senate and the Office of the Connecticut State Attorney General.

Phillips said “CFC is a pioneer in cyber insurance, with a market leading proposition and an innovative approach to pro-active cyber protection. I’m looking forward to working with their talented team to deepen cyber fluency and drive growth for our admitted cyber solution in the American market.”

A global insurance business with sophisticated capabilities spanning underwriting and claims, technology and innovation, cyber security, incident response and more, CFC was one of the first in the market to offer cyber insurance. The business has expanded to offer more than 50 products across 20 different classes of insurance, with a particular focus on emerging risks brought on by the intersection of technology and industry.

Read more about CFC’s market leading cyber proposition here.