People – Midwest
Kristine Neate, Ohio-based State Auto Financial Corporation and State Automobile Mutual Insurance Company (State Auto Mutual) hired Michael E. LaRocco as president and chief executive officer.
LaRocco officially takes over the duties of current President and CEO Robert P. Restrepo Jr. on May 8.
Until that time Restrepo will work closely with LaRocco during the transition. Restrepo will remain as chairman of the companies until his retirement on Dec. 31.
During LaRocco’s more than 35 years in the property and casualty insurance industry, he ‘s led large national carriers and formed a technology startup. His insurance career began with management and executive roles at Progressive and GEICO. He also has served as president and chief operating officer at Safeco Insurance Companies, and president and CEO of Fireman ‘s Fund Insurance Company.
LaRocco most recently served as president and CEO of AssureStart, a Seattle-based technology startup selling general liability and property insurance to small businesses online.
State Auto Financial Corporation is a super regional property and casualty insurance holding company headquartered in Columbus, Ohio.
Gov. Rick Snyder named Pat McPharlin, of Laingsburg, as the new director of the Michigan Department of Insurance and Financial Services. He will replace outgoing director Ann Flood.
McPharlin previously served as CEO of Michigan State University Federal Credit Union, where he started his career in 1973. He has been its leader for the last 14 years. McPharlin retired from the credit union in March upon the completion of a successful succession plan and transition.
Flood is returning to the private sector after serving as head of the DIFS since October 2013 and before that as chief deputy at the former Office of Insurance and Financial Regulation, which was elevated to a department by an executive order in 2013.
McPharlin takes over as director on May 18; Flood ‘s last day will be May 15. They will work together in the interim to ensure a smooth, seamless transition.
The appointment must be approved by the Senate.
Kansas-based IMA Financial Group Inc. appointed Jeff Grace as president of Signature Select LLC. Grace is also president of IMA Inc. Wichita, a post he will keep.
Grace has almost 20 years of insurance industry experience in varied underwriting, sales and leadership roles. He joined IMA in 1997 in business development.
Grace holds the Chartered Property & Casualty Underwriter and Associate in Fidelity and Surety Bonding designations.
Signature Select is a subsidiary of The IMA Financial Group Inc. and offers a full range of risk management-related products with more than 50 associates in Colorado, Kansas, New York, Oklahoma and Texas.
Signature Select was founded in 2009 to focus specifically on personal lines and the insurance needs for small business.
Insurer United Fire Group Inc., based in Cedar Rapids, Iowa, appointed Dawn M. Jaffray as chief financial officer, effective April 27.
Jaffray brings more than 27 years of experience to UFG, including extensive operational and financial experience with global publicly and privately held insurance and financial services companies. Jaffray ‘s business experience has been focused on insurance, finance and capital management.
She will report directly to Randy A. Ramlo, president and chief executive officer of UFG.
Jaffray was most recently was chief financial officer of Soleil Advisory Group, specializing in operational consulting, merger and acquisition, investment and strategy. She also has held executive positions at Westaff, a publicly-traded international staffing firm, the North America business unit of Dun & Bradstreet, CNA Insurance, Progressive Insurance and Dominion Insurance.
Westfield Insurance, a super-regional property and casualty insurance carrier based in Westfield Center, Ohio, has promoted Kristine Neate to the new role of national underwriting office leader.
In this position, Neate will assume overall responsibility for reviewing and refining the underwriting practices for the insurance operation and managing the product portfolio. Her areas of oversight will include the commercial lines product management, personal lines product management, risk services, and the premium audit and regulatory compliance functions.
Neate joined Westfield in 1993 as a trainee in commercial lines and most recently served as the commercial underwriting and products leader. She also has held a series of positions at Westfield within commercial lines field underwriting, new hire recruiting and training, marketing, and several roles in the commercial underwriting office.