CFC USA launches mid-market cyber division

CFC USA launches mid-market cyber division | Insurance Business America

Cyber

CFC USA launches mid-market cyber division

Senior executive underwriter named

Cyber

By
Terry Gangcuangco

Managing general agent CFC has launched a mid-market cyber division in the US.

The significant move aims to address the growing demand for comprehensive cyber solutions among mid-sized businesses. The new division will be led by Daisy Lopez (pictured), who joined CFC USA in New York as senior executive underwriter.

CFC USA chief executive Shannon Groeber expressed enthusiasm about the expansion, saying: “This is an exciting development for our US business in response to demand from trading partners.

“I am thrilled that we are now able to serve even more brokers with a greater range of cyber solutions from SME through to mid-market and large corporate, and trade in the manner that suits them best – whether digitally via our Connect platform or in person for more complex risks.”

Groeber also highlighted the importance of having an experienced leader like Lopez.

“Daisy has tremendous experience of the cyber market here, particularly in more complex risks,” the CEO noted. “I can’t think of a better person to help us build a team focused on helping brokers find the right cyber solution for their clients with more sophisticated needs. We’re delighted to welcome her to our team.”

With over 16 years in the insurance industry, Lopez brings extensive expertise to her role. She previously served as cyber vice president at Mosaic Insurance, focusing on complex cyber risks across North America.

Commenting on the launch, Lopez stated: “CFC is an acknowledged innovator in the cyber insurance market having been one of the early pioneers. It has consistently set the benchmark for others and undoubtedly led the way in the development of proactive cyber protection.

“I’m looking forward to working with my new colleagues here in New York, as well as those based in the UK, as we build our presence in the mid-market cyber space.”

The creation of the new unit comes on the heels of CFC’s release of an updated version of its cyber risk heat map. Built on extensive data derived from thousands of claims managed by CFC over the past 25 years, the free tool now offers enhanced details on key exposures affecting a wide array of industry sectors.

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