People
United America Indemnity Ltd.’s board of directors has selected Joseph F. Morris as its president. The company will also consolidate its two U.S. insurance subsidiaries, United National Group and Penn-America Group, under a single United America Insurance Group management structure and has selected William F. Schmidt as its president and chief executive officer.
Morris is currently president and chief executive officer of Penn-America Group and Schmidt is currently president and chief executive officer of United National Group. Both Morris and Schmidt will report directly to the company’s board of directors through its chairman, Saul A. Fox.
Fox also is chief executive officer of Fox Paine & Company LLC, whose affiliated private-equity funds acquired a controlling interest in United National Group in September 2003. In January 2005, United America completed its merger with Penn-America Group and its acquisition of Penn Independent Corporation. In conjunction with those transactions, United National Group Ltd. was renamed United America Indemnity Ltd.
The reorganization will result in an 8 percent reduction in the combined companies’ workforces. The United America Insurance Group will comprise two business units: Penn-America and United National. All commercial binding authority insurance products now marketed through about 110 general agents for Penn-America and United National will be combined under Penn-America. All specialty product offerings including professional liability lines of business, brokerage facilities, class-specific programs and umbrella/excess business will continue to operate under the United National business unit. All insurance operations such as claims, information technology, financial and legal will be consolidated under a single United America Insurance Group structure.
Insurance broker and risk management consultant Beecher Carlson has significantly expanded its presence in the northeast region with the additions to its Boston office, which it first opened in March 2005. Beecher Carlson plans to open its expanded Boston office in April 2006. Recent additions include:
Richard J. DeVito, managing director, manages the Boston office with a specialization in complex property, casualty and professional liability programs. He also specializes in construction wrap-ups. DeVito has implemented wrap-ups for Yale University, The Boston Convention & Exhibition Center, The Dana Farber Cancer Institute and the University of Rhode Island. He was with William Gallagher Associates in Boston.
Dr. Andrew Banasiewicz, senior vice president of analytics, is developing a comprehensive risk analysis platform. He has held several senior level analysis and modeling positions and is a frequent speaker at national conferences and author.
Mark Bossi, vice president, specializes in multi-jurisdictional workers’ compensation and general liability. Prior to joining Beecher Carlson, Bossi served as vice president in Marsh’s Risk Consulting Practice.
Neal F. Cafferky, client service manager, is responsible for reviewing contractual language, developing procedure manuals and interfacing with the insurance carrier and attending pre-bid meetings and pre-construction meetings to assist contractors. He formerly worked at William Gallagher Associates and at Hobbs Group.
Gary A. Hollederer has been elected president of the Professional Insurance Wholesalers Association of New York Inc. through 2007. Hollederer has served on the board of directors since 2000. He is vice president and general manager of Russell Bond & Co. Inc., which he joined in September 1992 and where he is responsible for management of all production. Russell Bond & Co. Inc. is a regional excess and surplus insurance wholesaler and managing general agent based in Buffalo, N.Y.
Plymouth Rock Assurance Corporation has hired Thomas Cranley as chief operating officer for Plymouth Rock Assurance Corporation and as president of Mt. Washington Assurance Corporation of Concord, N.H. Cranley’s insurance industry experience includes an 18-year career at Accenture, where he served most recently as a senior client partner in the financial service practice. Since 1992, Cranley has focused on property and casualty insurance with client engagements spanning the sales and distribution, product management, underwriting, claims, and finance functions.
Arthur J. Remillard Jr., the founder and chief executive officer of The Commerce Group Inc., announced his intention to retire at the end of July of this year, culminating a 40 year career in the property and casualty insurance industry. Remillard, age 75, who founded The Commerce Insurance Company in 1971 along with numerous affiliated companies, has served as the CEO and chairman of the board of The Commerce Group Inc. since its inception in 1976. He plans to continue as a director of The Commerce Group Inc.
In anticipation Remillard’s retirement, Gerald Fels has been elected president, chief executive officer, and chairman of the board of The Commerce Group Inc. effective July 28, 2006. Fels is currently the executive vice president and chief financial officer of Commerce Group, as well as the president of The Commerce Insurance Company and its affiliated insurance companies. Fels joined Commerce in 1975 as chief financial officer and, together with Remillard, helped lead Commerce to its current position on the New York Stock Exchange with a market capitalization of approximately $2 billion.
OneBeacon Insurance Group, a subsidiary of White Mountains Insurance Group Ltd., has named Thomas Forsyth as senior vice president and general counsel reporting to Mike Miller, chief executive officer. Forsyth will oversee all corporate legal and government affairs for the company. He replaces Roger Singer who recently retired after 16 years of service. Singer will provide serve in a consulting role. Forsyth brings 25 years of legal experience, including senior roles at Travelers and most recently Swiss Reinsurance Group. Currently, he is president of the ADIA Reinsurance and Insurance Arbitration Society.
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