CFC swoops for ex-Allianz/Beazley cyber and tech claims leader for US expansion

CFC, a specialist insurance provider in the emerging risk and cyber market, has bolstered its cyber leadership in the US with a senior hire from Resilience, who has held key roles at insurers Allianz and Beazley, and co-chairs the influential US Ransomware Task Force.

Michael Phillips (pictured) joins CFC as cyber practice leader with nearly a decade’s experience in the speciality insurance market. Most recently, he was 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.

In his newly created role based out of New York, Phillips will be tasked to drive CFC’s cyber underwriting strategy and broker development in the US with a specific focus on its admitted cyber product.

Phillips also has experience as a litigator in commercial private practice for eight years and has been a frequent writer on law and technology, published in The New Yorker, Buzzfeed and Bloomberg. He 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.

“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,” said 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.”

Phillips commented: “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.”

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