CFC welcomes team lead for new financial services product line

CFC Underwriting announced on Tuesday that Neil Beaton has joined the insurer with the purpose of building a new team to develop a suite of products for financial institutions.

Beaton was most recently head of financial lines at Newline Group and has experience underwriting for various types of financial institutions across regions that include the U.S., the U.K. and Europe.

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“The look and feel of financial institutions is changing as they utilize more and more technology in their core operations,” said Andrew Holmes, CFC’s chief underwriting officer, in a statement. “This evolution presents financial institutions with a new range of exposures which we believe the insurance market is not adequately addressing, whether that is a product designed for the new breed of Fintech companies or a crime proposition which properly caters for the way crime against financial institutions is committed in 2017.”

“With CFC’s expertise in cyber and technology allied to Neil’s extensive experience of insuring financial institutions, we believe there is an exciting opportunity to bring a modern and relevant product set to this market,” he added.

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This story was originally published by Canadian Insurance Top Broker.