People – Southeast
Dr. Therese M. Vaughan will step down earlier than previously announced from her post as chief executive officer of the National Association of Insurance Commissioners (NAIC), effective Nov. 30. In August, she announced plans for transitioning out of the job in early 2013, but has decided accelerate her departure to the end of this month.
“I have been privileged to support the regulators and staff of the NAIC for nearly four years, and it is with mixed feelings that I am leaving,” said Vaughan. “Since the August announcement, however, it has become clear that an extended phase-out is unnecessary, and the organization is well-positioned to carry our progress forward.”
The NAIC is conducting a national search for a new CEO and has retained the services of an executive search firm, Egon Zehnder International, to assist in this effort. The NAIC Executive Committee has named Andrew Beal as acting CEO following the departure of Vaughan. Beal has been with the NAIC for 13 years and currently serves as the chief operating officer and chief legal officer.
Vaughan has served as NAIC CEO since February 2009. During her career, she served as Iowa insurance commissioner and has held a variety of positions in academia and regulation. She was the Robb B. Kelley Distinguished Professor of Insurance and Actuarial Science at Drake University. Vaughan earned a Ph.D. in risk and insurance at the University of Pennsylvania and a B.B.A. in insurance and economics at the University of Iowa. She is the co-author of two college textbooks on insurance.
Debbie Murphy has joined The Main Street America Group as the property/casualty insurance carrier’s vice president and head of personal lines product. Murphy will be based at the company’s home office in Jacksonville, Fla., and report to Steve Peeters, the company’s chief operating officer. Her responsibilities will include development of homeowners, private passenger auto and umbrella coverages and improvements to the insurer’s personal lines processing system and launching a revamp of Personal Auto MVP product throughout its personal lines states.
Murphy joins the company from Citizens Property Insurance Corp., where she was vice president in underwriting for Florida’s home insurer of last resort. Prior to Citizens, Murphy was chief underwriting officer, Florida Peninsula Insurance Co.; chief operating officer, People’s Trust Insurance Co.; and vice president, underwriting, United Services Automobile Association, San Antonio, Texas.
Bala Cynwyd, Penn.-based Philadelphia Insurance Companies said Chairman and Chief Executive Officer Jamie Maguire will be stepping aside as CEO at the end of this year. He will remain as chairman of the board.
Sean Sweeney, currently the company’s president and chief operating officer, will assume the title of president and CEO effective January 2013.
Maguire joined Philadelphia Insurance Companies in 1996 as vice president of underwriting. He was named CEO in 2002, succeeding his father, James Maguire Sr., who founded the company 50 years ago in 1962. Under the younger Maguire’s leadership, the insurer’s revenues grew from $460 million to $2 billion.
Sweeney joined Philadelphia as an account executive in 1979. He opened the company’s west coast operations and was named executive vice president and chief marketing officer in 1998. Sweeney was named president and chief marketing officer in 2010 before being promoted to chief operating officer in January 2012.