We look at things differently

CFC Underwriting Ltd. Registered in England and Wales, No. 3302887. VAT No. 135541330 Authorised and regulated by the Financial Services Authority. FRN: 312848

Registered Office: 85 Gracechurch Street, London, EC3V 0AA, United Kingdom

IntroductionCFC was established in 2000 as a Cyber Liability specialist. Over the last 12 years we have expanded into other, carefully selected business lines and have built an envi-able reputation as a highly specialised Lloyd’s MGA backed by 20 Lloyd’s syndicates. We do not deal directly with customers but sell our products to small and mid-market businesses in over 50 countries through approved insurance brokers in 17 countries.

We believe that it is our brokers’ job to be local to our end customers, so we have only one office at 85 Gracechurch Street in the City of London. This office services over 15,000 existing clients and processes over 3,000 new business enquiries and over 600 new business orders every month.

Proprietary SystemsWith over 80% of our customers paying less than £2,500 in premium, we are widely regarded as the small business specialists in Lloyd’s. To deal with such a large volume of small business efficiently, we have built our own proprietary IT systems. We believe that the only way to ensure that our systems are capable of supporting our business, and deliver on the high expectations of our brokers, is to be in control of our own systems.

ServiceWe are a completely service driven organisation where the vast majority of enquiries are quoted, and policies are delivered, within 24 hours. We are confident enough in our service levels to publish them every month on our website for the world to see.

Although our core processes and systems are all about being a highly efficient ma-chine for small and medium sized commercial insurance, we like to think that we also have a very flexible and pragmatic approach to underwriting and a friendly, can-do attitude.

ProductsWe develop quality insurance products for brokers who care about cover. We are consistently the first to market with product innovations and we typically re-release products far more regularly than traditional insurers. All of our products aim to deliver market-leading cover in a short, clear policy that is targeted to the customer’s busi-ness type.

Commitment to ExcellenceOur aim is to provide our brokers with remarkable products, service and systems. We are very proud indeed that this approach has led to a number of industry accolades over the last three years:

2012Finalist: Insurer Innovation of the Year, Insurance Times AwardsFinalist: MGA of the Year, Insurance Times AwardsFinalist: Underwriting Team of the Year, London Market Awards Finalist: Technological Initiative of the Year, London Market AwardsFinalist: Initiative of the Year, Insurance Insider HonoursFinalist: Underwriting Initiative of the Year, British Insurance AwardsFinalist: Underwriting Agency of the Year, British Insurance Awards

2011Winner: Underwriting Team of the Year, London Market AwardsFinalist: Insurer Innovation of the Year, Insurance Times Awards

2010Winner: Underwriter of the Year, British Insurance Awards

ABOUT US

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OUR PEOPLE

David Walsh, Founder & Managing DirectorDavid has worked in specialist areas of professional indemnity insurance since 1992. He was the original founder of CFC in 2000 and has been the company’s Managing Director ever since.

Andrew Holmes, Underwriting DirectorAndy has over 15 years underwriting experience, the last nine of which have been at CFC. Andy is now responsible for all underwriting matters at CFC, from service standards to strategy.

Graeme Newman, Marketing DirectorGraeme was a consultant at Deloitte before setting up his own insurance broking firm. He is now responsible for all business, broker and marketing development at CFC as well as the delivery of online broker solutions.

Michael Grist, Finance DirectorMichael came to CFC in 2010 from the London insurance broker THB Plc. A qualified chartered accountant, he has over ten years experience in senior commercial finance roles working for FTSE and AIM listed companies.

Scott Bailey, Senior Technology UnderwriterScott has been at CFC for over ten years and runs our technology and media division. This is the largest team of underwriters dedicated to this class in London, seeing a broad spread of business from many countries.

Kate Lyes, Senior Management Liability UnderwriterKate joined the CFC team in February of 2012. She’s responsible for defining CFC’s management liability strategy and underwriting approach whilst also creating a suite of tailored products for specific industry verticals.

Simone Palmiero, Senior Professions UnderwriterSimone heads up our very successful professions underwriting team. As well as being the senior underwriter, every month he ensures that well over 1,000 new business enquiries are handled within our service standards.

Andrew Tamworth, Senior Life Science UnderwriterAndrew has had a career in insurance spanning over 25 years, the last ten of which have been immersed in the life science sector resulting in a very deep knowledge of this specialist class.

Jonathan Swann, Director & Senior Healthcare UnderwriterA professional liability and healthcare expert with vast experience built up over 29 years of underwriting these classes, Jonathan now runs our US nursing homes division, the largest book of its type in London.

Richard Corfield, ChairmanRichard was Managing Director of Lloyd Thompson from 1994 to 1996 and Chair-man of RK Harrison from 1997 to 2007. Richard became our Executive Chairman in October 2012.

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Mike Rees, Non-Executive DirectorMike was one of the original founders of Benfield, Lovick & Rees and a driving force behind Benfield’s journey to its purchase by Aon in 2009. With over 50 years experi-ence, he is now one of the most respected people in the London insurance market.

Gary Norman, Casualty Practice LeaderGary joined CFC from QBE where he was head of technical underwriting for the casualty, property and motor divisions with combined premiums of over £1bn. Gary is a well-known figure with nearly 30 years experience in the industry.

Neill Cotton, Commercial DirectorNeill was Managing Director of top 30 Lloyd’s Broker, Oxford, for over 10 years before joining CFC. Neill now supports Andrew Holmes and Graeme Newman in our carrier, broker, and product development initiatives.

IntroductionWe develop products for the way customers want to buy them, not the way insurers want to sell them. This means targeting products at specific sectors and tailoring the cover provided to the exposures faced by companies in that sector.

It also means having flexible, modular, package products which provide customers with a one stop shop for all their insurance requirements. For the vast majority of our customers, we can provide professional liability, general liability, employers’ liability*, property, business interruption, D&O, EPL, cyber & privacy, system damage & busi-ness interruption, crime, K&R and brand protection cover.

Even though our products blend all these different coverages, we believe it is crucial that they remain short and clear. Therefore, all of our policy wordings are shorter than 20 pages long, which we think is the maximum length policy that a small business should have to read.

We also understand that insurance practice is quite different in each country. That’s why we have fully localised versions of our products for all of the major countries where we do business. Local laws, regulations and territory-specific risk exposures are taken into account, and some of our products are available in other languages including French, German, Spanish, Swedish, Polish and Dutch.

All of our products provide global cover as standard and are underwritten by our specialist underwriting teams who genuinely understand the businesses they are insur-ing. With this understanding comes confidence to provide broad cover to well run businesses and we believe our products provide some of the best cover available in the market for our target sectors.

* This is not available for customers in the US

Products Team

As part of his role of Underwriting Director, Andy is responsible for the ongoing devel-opment of all of CFC’s new and existing products, and for ensuring that we consist-ently provide market leading cover in a clear and short form.

Nigel Gent is tasked with making sure our product wordings, application forms and schedules are kept as clear, concise and up-to-date as possible. His coverage com-parisons with our competitors help us keep our policies one step ahead of the game.

Working on behalf of both the underwriting and product teams, Sarah Underwood is responsible for reporting and monitoring for the underwriting team as well as helping to produce and ensure accuracy on product documentation.

PRODUCTS

Nigel Gent, Products ManagerNigel began his career in insurance as an underwriter over ten years ago. Today, he helps to ensure CFC’s extensive product suite meets the company’s high standards for clarity, accuracy and innovation.

Sarah Underwood, Underwriting AnalystSarah joined CFC from Callidus Solutions where she was a Compliance Consultant. At CFC, she works for both the underwriting and product teams to ensure all of our licenses and agreements are kept up-to-date.

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Andrew Holmes, Underwriting DirectorAndy has over 15 years underwriting experience, the last nine of which have been at CFC. Andy is now responsible for all underwriting matters at CFC, from service standards to strategy.

PRODUCTSTechnology Companies

Medical Device Companies

Research & Development

Miscellaneous Professionals

Allied Health & Medical

Long Term Care Facilities

Architects & Engineers

Media Companies

Social Media Companies

Recruitment Agencies

Technology & MediaProfessionals HealthcareLife Sciences

Cyber & Privacy Liability Management Liability Excess Liability

Sector Products

Professional Employer Firms

Cross-Sector Products

Fitness Instructors

Skilled Nursing Facilities

Not For ProfitTrade Associations

Resident & Tenant Associations

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OverviewWe aim to put our brokers at the heart of everything we do and specialise in helping them to make money from small business. That’s why we’ve invested considerable time and resources into designing slick internal processes and building sophisticated IT systems with the aim of providing our brokers with the fastest possible service and most accurate documentation.

Since the company’s establishment in 2000 when the business was known as “Click For Cover”, systems and technology have been at the heart of our operations. We were one of the very first to sell commercial insurance online and this knowledge and experience has now been developed and refined over the last twelve years in order to provide flexible, configurable online platforms to support our brokers.

Key to the ability to maintain high levels of service is the seamless integration between our internal processes and our online platforms. This allows system referrals to easily enter our underwriting workflow and ensure rapid quote turnaround times regard-less of whether the system has provided an online quote or an offline referral to our underwriters. We also employ a full-time project manager to manage the interface between these two critical processes.

Our PlatformsWe provide four core types of online platforms:1. CFC corporate extranet2. Wholesale broker trading platforms3. Retail broker trading platforms4. Affinity group trading platforms

All of these platforms allow for complete customisation and configuration by us for each individual broker meaning that no one relationship between us and our brokers is the same. We can provide different products, insurance classes, activity lists, access levels, management information and rates. All of this is controlled by simple user profiles. In this way we believe we can provide a truly customised solution to meet your needs.

BillingOur systems provide a number of different payment options through our online pay-ment portal. We also offer you the option for customers to pay us directly, in order to significantly ease your account administration and credit control processes.

The payment portal offers customers the opportunity to pay in the following ways:1. Full annual payment via BACS (no charge)*1. Full annual payment by credit card or Paypal (2.5% fee)2. Monthly instalments (5% flat finance fee)*

Our back-office systems are fully integrated with these payment options allowing us to settle all direct billed accounts in a simple, quick and accurate way. We will settle commission payments to you every month on all accounts where payment has been received or where a finance agreement has been established.

For accounts that are direct billed we offer clients 28 days to pay or establish a monthly payment facility. In the event that you would prefer agency billing we will extend 60 days of credit to you on all accounts.

* UK and Ireland only

SYSTEMS

Gemma Harding, Project ManagerGemma perfoms the crucial role of making sure that our IT systems, automated pro-cesses and human underwriters provide you with a joined-up solution. Experienced in underwriting, she has a thorough understanding of the way our business operates.

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CFC Corporate ExtranetOur insurer to broker trading platform allows your employees to logon and obtain instant quotes and policy documents as well as a full suite of online mid-term adjust-ments including: name change, address change, limit change, additional insureds, additional locations, cancellations and renewals.

It is important to note that, as opposed to other typical insurer systems, the CFC system is unique to you. It is your own tailored view of your flavour of our products at your rates.

This system features a full management reporting dashboard that allows all data - subject to your specific configuration - to be exported into Excel or XML format to be manipulated offline or imported into other third party packages.

The system also provides you with total flexibility through the “target pricing” engine which is particularly powerful for book transfers. In order to try out a demonstration version of the platform, logon to:

http://cfc.cfcprograms.comUsername: demouserPassword: test1234

Systems IntegrationFor anyone wanting to integrate our quote and bind technology into their back-office systems we have developed a standards-based application programming interface (API). Built using web services technology we can provide your IT team with access to our core rating, document production and policy adjustment engines allowing you to seamlessly integrate our products with your systems.

This same API can also provide you with the ability to add online quoting to your corporate website or an affinity partner platform with just a few simple lines of code. This allows you complete control over the “look and feel” of the site, whilst we take care of the back-end technology.

SYSTEMS

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Wholesale Broker Trading PlatformsOur online platforms can easily be configured to operate in “wholesaler” mode al-lowing you to use our technology to automate your wholesale business. This system allows you to apply your own unique branding and content to our online platform and then enable direct access to your retail brokers or branch offices.

As each of our systems is configured on a broker by broker basis we can create a custom configuration that is totally unique to you, including rates, products, referral criteria and branding. You can then provide your retail brokers with your very own end-to-end quote and bind platform.

As standard, the platform comes complete with a full management information dash-board and administration system. This provides you with a global view of all accounts quoted and bound through the platform, including hit rates, premium statistics, open quotes and broker performance.

All data entered into the system can easily be exported by you in either Excel or XML format providing you with easy access to your data. Report formats can be tailored to suit your exact requirements whether that be for display purposes or importing into your back office system.

SYSTEMS

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Retail Broker Trading PlatformsWe also provide white labelled, client facing trading platforms for retail brokers. By using our innovative technology we are able to fully customise the look and feel of the front-end to reflect the retail broker’s brand and deliver a seamless online quote and bind solution linked to their corporate website.

These platforms are most effective when used to improve the efficiency of transact-ing an existing small business book or for targeting a very defined customer base in conjunction with a tele-marketing campaign.

We also have the ability to switch a broker facing platform into a client facing plat-form, enabling an existing portfolio that has been built up on our online platform to become a renewal book self-served by clients. This dramatically improves the efficiency of transacting this business driving extremely high profit margins for our brokers.

All regulatory and compliance issues are addressed by our innovative contract struc-ture that essentially ensures that the roles and responsibilities of both parties – you as the retail broker and us as the underwriting agent – remain the same as they always have been.

SYSTEMS

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Affinity Group Trading PlatformsFor affinity, scheme or program business, we can provide a fully white-labelled solu-tion meaning that you can completely brand the platform as your own, or in conjunc-tion with the affinity group, and provide open access to end clients. In this way, clients complete the details themselves online and can self-serve at any time of the day or night. Full quotations can be issued in under two minutes and policy documentation is issued instantly once payment has been completed by BACS*, credit card or initiation of a monthly instalment plan*. This seamless billing solution ensures that you do not spend money on costly credit control exercises.

This platform is currently deployed and in action for over 30 affinity brands including major companies such as Zumba (the global dance fitness craze), the Apple Consult-ants Network (one of the fastest growing departments of the Apple corporation), Al-exander Mann Solutions (one of Europe’s top recruitment consultants) and the Royal Institue of Architects of Ireland.

In order to see these live sites in action, please visit:zumba.cfcprograms.comwww.acninsure.comwww.contingent-cover.comwww.riaionline.com

* UK and Ireland only

SYSTEMS

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SERVICEService StandardsOur internal service standards are to deliver 90% of quotes and policies within 48 hours. In practice almost all quotes receive 24 hour attention and under normal circumstances are quoted within 24 hours unless there is a reason not to do so. In practice 90% of our policies are also issued within 24 hours.

Service LevelsTo show our dedication to great service, we publish our enquiry response and policy issuance times monthly on our website so our brokers can see our service levels themselves.

So, in short, service is at the centre of everything we do at CFC. Whether we are building a new product, providing a quote for a policy, or just responding to a quick enquiry, our aim is to stand out as a truly service-centric organisation, with our bro-kers’ and insureds’ needs always at the forefront.

Broker OpinionA recently commissioned survey asked brokers to rate CFC against its competitors:• 89% of brokers say CFC’s speed of quote response is better or much better than that achieved by its competitors• 88% believe CFC’s speed of policy documentation issuance to be faster• 75% confirm that the accuracy of CFC’s policy documents is better or much better than its competitors• 86% say the breadth of CFC’s cover is better or much better• 71% believe that the flexibility of cover it delivers is superior• 93% rate the friendliness of CFC’s staff as better than that of its competitors • 73% feel they have a better breadth of relationship with CFC’s staff than they re- ceive elsewhere

Service Achieved, March-August 2012

How CFC Compares to Other Insurers

* Calculated from when we receive full underwriting information to the time of first quotation.** Calculated from when we receive initial bind request to full document issuance.

Same day

Within 24 hours

Within 48 hours

Within 1 week

More that 1 week

51%

30%

3%5%

11%

95%

2% 1%

Enquiry Response Times* Policy Issuance Times**

Accuracy of Policy Documentation Breadth of Cover

Much better

Better

About the same

Worse

Much worse

31%

44%

25%34%

52%

12%2%

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MARKETINGMarketing TeamWe have a dedicated in-house sales and marketing team that is responsible for pro-viding you with appropriate training, sales assistance and marketing collateral in order to support your new business functions.

Graeme Newman, our Marketing Director, is one of the London Market’s leading commentators. Not only does he manage the marketing team and oversee all online systems, sales and marketing functions at CFC, but he also leads our international business development. His visits to various territories help CFC stay in touch with what brokers are looking for across the many countries in which it does business and is critical in helping us develop fully-tailored and innovative policies.

We are happy to provide our brokers with direct access to Carson O’Connor, our Marketing Manager, who can work closely with the relevant teams within your organi-sation in order to prepare and produce any necessary co-branded or white-labelled marketing documentation, including brochures, claims examples, coverage compari-son tools and frequently asked questions.

Carson is also an expert in social media marketing and manages our extensive social media presence and can provide training courses to your staff covering social media marketing and how to use it to effectively prospect for new clients. We always include this as a section within our open broker training courses and it routinely scores the highest marks of all sessions.

Besides being involved in carrier and product development at CFC, Neill Cotton also supports the business development and marketing functions.

Chris Gilson works closely with our brokers in the UK and Ireland to help support the sales effort in these territories and co-ordinate the provision of any development underwriter resources when required to join your staff on large client visits.

Chris is also responsible for co-ordinating the delivery of our highly successful range of “How to sell to...” training courses in the UK. These courses are not just your run-of-the-mill training sessions. They are designed to be very in-depth and engaging and a key way in which to get better acquainted with our product offering.

In addition to the marketing team, we have over 20 development underwriters who regularly visit our brokers to develop business.

Carson O’Connor, Marketing ManagerCarson joined CFC in 2010 after several years working in eCommerce. At CFC, she is responsible for marketing initiatives including social media, blogging, corporate website development, event planning, and marketing collateral.

Chris Gilson, UK & Ireland Business Development ManagerJoining CFC in early 2012, Chris has a wealth of experience across multiple market sectors including broking, underwriting, customer service, client management and new business development. Chris looks after CFC’s UK and Ireland book of business.

Graeme Newman, Marketing DirectorGraeme was a consultant at Deloitte before setting up his own insurance broking firm. He is now responsible for all business, broker and marketing development at CFC as well as the delivery of online broker solutions.

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Neill Cotton, Commercial DirectorNeill was Managing Director of top 30 Lloyd’s Broker, Oxford, for over 10 years before joining CFC. Neill now supports Andrew Holmes and Graeme Newman in our carrier, broker, and product development initiatives.

ResourcesAs part of our core marketing function we also produce a significant volume of insur-ance related content. This can be found under the “Media” section of our corporate website, and also on the following blogs and third party social media sites:

CFC’s corporate website:www.cfcunderwriting.comAll the latest CFC general business news:www.cfcunderwritingblog.comAll the latest technology risk related news:www.technologyinsuranceblog.comAll the latest media risk related news:www.mediainsuranceblog.comAll the latest management liability related news:www.managementliabilityblog.com All the latest recruitment risk related news:www.recruitmentinsuranceblog.comAll the latest life science risk related news:www.lifescienceinsuranceblog.comAll the latest healthcare risk related news:www.healthcareinsuranceblog.comYouTube video channel:www.youtube.com/user/CFCUnderwritingTwitter feed:@cfcunderwriting

We can provide this content under licence to you for re-use in newsletters, blogs, our online platforms or sections of your corporate website.

CFC Broker AreaAnother valuable resource is the CFC broker area on our corporate website. Each CFC broker is issued with a username and password to access this area. Here brokers are able to track their enquiries, orders and renewals. Brokers also earn points for these things which can be spent in our monthly sealed bid broker loyalty auction ac-cessible through the area. Even more features are on their way. To visit the area, go to www.cfcunderwriting.com/Clients/Broker-login.aspx

MARKETING

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CLAIMSOverviewWe pride ourselves on providing a superior level of customer service and this is never more important than at the time of a claim. Claims is at the core of our service propo-sition and we have an in-house claims team, based in the centre of our underwriting room, to deliver on this service promise.

Our claims team is led by our claims manager, Tim Danbury. Alongside Tim are Jes-sica Wright and Ashley Burdon, both of whom are experienced claims handlers hav-ing both previously worked at Lexington. Our claims team understand the difference in how SME claims need to be handled (as opposed to big business claims) and they work closely with the broker and policyholder to provide guidance, regular updates and ultimately a swift settlement.

Tim and his team are the loss notification point for all CFC claims. Once they re-ceive a claim and have reviewed the details they will contact you (or the insured if you prefer), obtain any additional information and walk you though the next steps. For professional liability claims the next step usually involves engaging our extensive international network of lawyers, adjusters and other service providers who are there to provide a robust defence to the insured against any litigation.

Global NetworkAs CFC provide insurance for businesses in over 50 countries around the world, it is essential that we provide a market leading claims service to our clients. The claims team works very closely with its claims partners and capacity providers in Lloyd’s to continually review and enhance our claims systems and processes. We enjoy relationships with the leading loss adjusting and legal service providers to the insurance industry and they, in turn, have access to a network of associated offices and experts around the globe. This means that all of our customers get the claims service they deserve, regardless of their location.

Privacy Breach HotlineLaunched in partnership with Baker Hostetler, we also offer a privacy breach hotline to our US cyber customers, giving them immediate access to high quality legal advice in the event that they suffer a privacy breach. This service includes the assessment of legal and contractual notice obligations, the management of contact with impacted parties, advice on how to minimise the potential for lawsuits and regulatory enforce-ment actions and assistance with defence against assessments by the card compa-nies.

Tim Danbury, Claims ManagerTim joined us from the leading UK solicitors, Kennedys, where he had been working as an in-house TPA and prior to that he was a member of Brit’s claims team. He has been working in the Lloyd’s market for 15 years.

Jessica Wright, Claims AdjusterJessica has several years experience in claims, particularly US CGL claims, having started out at Lexington as a Claims Examiner in 2008. At CFC, she helps ensure any claims that come through are dealt with thoroughly and efficiently.

Ashley Burdon, Claims AdjusterPreviously a Claims Processing Technician at Lexington, Ashley joined CFC in July 2012. Like Jessica, he assists in the quick, thorough and friendly processing of claims. Ashley is also Cert CII qualified.

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85 Gracechurch StreetLondon EC3V 0AA

Tel: +44 (0) 207 220 8500Web: www.cfcunderwriting.com

General enquiries: enquiries@cfcunderwriting.comQuote requests: inbox@cfcunderwriting.com

Claims: newclaims@cfcunderwriting.com