In 25 years, the world has changed dramatically. Back in 1999, the internet was still in its infancy—think slow speeds, basic websites and bright, pixelated logos. The dotcom bubble was rapidly inflating, and with it came a wave of internet-first companies facing unfamiliar cyber risk. It was clear these companies needed a new type of protection. That’s where CFC came in—pioneering cyber insurance to help safeguard businesses of the future.
What began in 1999 as a simple idea has grown into a global business known for innovation and leadership across the industry. Safe to say, it’s been an incredible journey; one that’s seen us navigate economic downturns and times of extraordinary change. Thanks to the enduring support of our broker partners and the passion, dedication and energy of our people, we’ve remained resilient and forward-thinking through it all—and can’t wait for what’s coming next.
So, who better to revisit CFC’s beginnings than the person who started it all? We sat down with CFC Founder, David Walsh, for his insights on the CFC story so far.
Riding the dotcom wave: How it all began
The late 1990s were a time of explosive change. The dotcom boom was in full swing, and the internet felt like the Wild West—full of promise, opportunity and fast-moving innovation. As thousands of new digital businesses emerged, so too did an entirely new category of risk: cyber. Widespread viruses and email worms (used by cybercriminals to infiltrate inboxes) emerged, raising the need for network protection. While this prompted large corporates to begin exploring cyber cover, smaller businesses were getting left behind.
Specialty insurance had long been the domain of big business—burdened by complex wordings, lengthy proposal forms and premiums out of reach for SMEs.
There was a clear gap in the market, and CFC set out to change that.
As thousands of new digital businesses emerged, so too did an entirely new category of risk: cyber. David Walsh, Founder, CFC
From the very beginning, CFC’s aim has been clear: to democratize specialty insurance. We wanted to make it accessible, understandable and genuinely useful for businesses of all sizes.
So we did things differently, simplifying the insurance process and beginning to expand our portfolio—covering technology errors and omissions, general liability, property and casualty, professional indemnity and more—before joining it all together. This meant small businesses could get all the protection they need, all in one place, instead of purchasing a multitude of policies.
From local roots to global reach: CFC expands overseas
As CFC matured, so did our ambitions. By 2008, we outgrew our space in the iconic Lloyd’s building, and while it had been the perfect launchpad, we needed a space that reflected our identity and gave us room to grow. The move to 85 Gracechurch Street marked a major milestone, a place we could truly call our own.
And grow we did. Each year, we added new floors to our office and welcomed fresh talent through our doors. Many joined us from large, established insurers, bringing with them deep expertise and a hunger to do things differently. That combination of experience and entrepreneurial spirit propelled us into new lines of business, from product recall to kidnap and ransom to transaction liability.
But we weren’t just innovating products—we were rethinking how we delivered them. Our distribution model is unlike anything else in the market. From day one, our people took to the skies, delivering our message around the world. From South Africa to Sweden, Ireland and Australia, we built relationships and opened up markets, helping brokers and clients understand the evolving world of cyber and emerging risks.
From the very beginning, CFC’s aim has been clear: to democratize specialty insurance. We wanted to make it accessible, understandable and genuinely useful for businesses of all sizes. David Walsh, Founder, CFC
With our global footprint growing, we began to expand internationally. We started by acquiring cyber security hubs in Texas and Brisbane, strengthening our technical capabilities. And in 2019, with 40% of our business already coming from the US, we opened our first international underwriting hub in New York.
Tomorrow, together: Powering the next 25 years
Today, CFC stands as a truly global business, with offices across Australia, the US, Canada and continental Europe, protecting 200,000 customers in over 90 countries. It’s a milestone we’re incredibly proud of—not just for the scale we’ve achieved, but for how we’ve achieved it.
From disrupting the specialty insurance market for SMEs to developing technology like Connect, the broker trading portal, CFC’s focus has always been on making it easier for brokers to trade—and for businesses of all shapes and sizes to find comprehensive insurance cover.
Just as important is the culture that’s helped power CFC's growth. The CFC team is built on passion, integrity and the commitment to innovate—while having fun doing it. These values will continue to guide CFC through the next stage of it's journey.
Looking ahead, the ambition is to keep building on this momentum. That means two things: one, staying at the forefront of technology, by building platforms and systems that free teams from manual tasks so they can spend more time where it matters—with brokers; and two, continuing to invest in CFC’s people, to create an environment where they can bring their whole selves to work and be the best at what they do.
Huge thanks again to all who have been part of CFC’s journey so far—employees, investors, capacity providers and of course our broker partners.
Here's to the next 25 years of innovative insurance with CFC.
