CFC becomes newest ABI member

CFC Underwriting has joined the ABI as the trade body’s newest member.

The London-based MGA has provided online cyber insurance since the late 1990s. CFC’s technology-driven platform uses data science, automated underwriting and real-time threat intelligence to help businesses identify and manage digital exposures before they become costly claims.

Andy Holmes, group capacity director at CFC, said the decision to join the ABI shows the company’s long-term commitment to shaping the industry’s response to evolving threats.

In 2024, UK insurers paid out a record £197m in cyber claims, a 230% increase from 2023, reflecting the growing frequency and sophistication of cyber attacks, according to the ABI.

Holmes said: “Joining the ABI is an important milestone for CFC.

”It reflects our commitment to working collaboratively with the industry to tackle emerging risks and build resilience for businesses everywhere. While cyber remains a core focus, our expertise spans multiple lines and we look forward to contributing to the ABI’s work and helping shape a stronger, more innovative insurance market.”

’Valuable expertise’

CFC’s underwriting extends beyond cyber into specialist areas such as transaction liability, management liability and digital healthcare.

Sheryl Fernando, director of membership and commercial development at the ABI, said the addition of CFC brought valuable insight to the association’s ongoing work on digital risk management.

She said: “We are delighted to welcome CFC to the ABI. As a leading specialist insurer with a strong track record in cyber and emerging risks, they bring valuable expertise and innovation to our membership.

”With cyber threats growing in scale and sophistication, resilience has become a central focus and priority in the industry.”