6 People on the Move

Everest adds a property executive; Ametros names a senior managing director; Joe Zuk joins Orchid; Anders elected president of NAMSAP

Everest Picks Up Kevin Flaherty in Property

Everest Insurance added Kevin Flaherty to its retail property team in the East Region. Kevin, who is based out of the Everest Insurance New York City office, will report to Jason Ventling, vice president and head of retail property.

Commenting on the addition, Ventling said, “We are excited to have Kevin join our team of talented and skilled underwriters in our growing retail property group at Everest. The knowledge and experience Kevin has developed over his many years in the industry, coupled with his leadership experience, make him a valuable addition to our group.”

Kevin was most recently an assistant vice president at Ironshore, having previously worked as an underwriter at Liberty International and AIG. Kevin holds a B.A. from St. Joseph’s University.

Tower MSA Partners’ Dan Anders Elected Treasurer of NAMSAP

Daniel M. Anders, JD, MSCC, the chief compliance officer for Tower MSA Partners, has been elected to the board of directors of the National Alliance of Medicare Set-Aside Professionals, Inc. (NAMSAP) and will serve on its executive committee as treasurer for 2019.

Dan Anders, chief compliance officer, Tower MSA Partners

An attorney who holds the Medicare Set-Aside Consultant Certified and Certified Medicare Secondary Payer Professional credentials, Anders also co-chairs NAMSAP’s Policy and Legislative Committee.

Anders and Tower have been active in the organization for several years; Tower’s CEO Rita Wilson is the immediate past president, and Wilson and Anders frequently speak at its conferences and webinars.

“We’re dedicated to continuing our work with NAMSAP,” Wilson said. “It provides timely and comprehensive education and is the leading advocate for Medicare Secondary Payer compliance policies and practices that serve all stakeholders.”

NAMSAP is a nonprofit organization founded in 2005. Members include attorneys, nurses, settlement planners, claims professionals and others. The organization was formed to help individuals and organizations address claims impacted by the Medicare Secondary Payer Statute (MSP). The MSP is federal legislation designed to prevent the shifting of responsibility from a primary payer to the federal government in liability and workers’ compensation cases.

Joe Zuk Joins Orchid

Orchid Underwriters Agency, LLC, a specialty underwriter of catastrophe-exposed property insurance, announced that Joe Zuk has joined Orchid Insurance as managing director of corporate development & strategy, a new position within the organization. This new role reports to Brad Emmons, president and CEO at Orchid.

Zuk is responsible for Orchid’s corporate development and strategic initiatives across the enterprise. As a member of the executive team, Zuk will work with Emmons and the company’s partner, TowerBrook Capital Partners, in leading Orchid’s continued growth and expansion of business through mergers and acquisitions, organic growth opportunities and conceiving and executing upon innovative and value-creating strategic initiatives.

Zuk comes to Orchid with more than 15 years of experience and developed relationships throughout the insurance and reinsurance verticals. Prior to joining Orchid, Zuk served a dual role at Atlas General Holdings as president of the commercial and property divisions. There, he grew the business as well as directing and executing upon Atlas’ corporate growth and development strategies. Previously, Zuk was a reinsurance broker and underwriter. Zuk is a graduate of New York University.

“We are excited to have Joe join Orchid,” said Emmons. “Joe is bringing with him a wealth of knowledge and experience throughout the industry, which will bolster our platform’s capabilities and deepen our expertise.”

Paul H. Sighinolfi Joins Ametros as Senior Managing Director

Paul H. Sighinolfi has joined the Ametros Senior Leadership team as senior managing director. Bringing with him a wealth of knowledge and experience, he will provide thought leadership and lead regulatory and policy initiatives, while providing meaningful strategic direction and insight.

“Paul and I have known each other for several years. He brings years of experience and a unique perspective,” said Marques Torbert, CEO of Ametros. “We are happy to have him on board to help Ametros continue to innovate and provide thought leadership in our industry.”

Ametros strives to enhance the lives of injured parties with innovative and affordable settlement solutions. Ametros focuses heavily on improving the health and well-being of injured workers ensuring that they live happier, healthier and more productive lives post-settlement.

Paul Sighinofi, senior managing director, Ametros

Sighinolfi is an attorney who brings over 30 years of experience in the workers’ compensation industry, most recently as executive director and chair of the Maine Workers’ Compensation Board. Previously, he was a partner at Rudman-Winchell, LLC, directing the workers’ compensation practice group. He also coauthored Maine Employment Guide: Workers’ Compensation and has been a frequent speaker throughout the country on various workers’ compensation topics.

“Paul’s experience as the head of the workers’ compensation system in Maine, in addition to previously serving as both a plaintiff and defense attorney gives him a complete view of all sides of our workers’ compensation system and makes him a wonderful fit for our company,” Torbert said.

The International Association of Industrial Accident Boards and Commissions elected Sighinolfi to its Board of Directors in 2014, and he served as its board vice president until earlier this year. He is a fellow of the American Bar Association, College of Workers’ Compensation Lawyers and was formerly on the executive committee of the Southern Association of Workers’ Compensation Administrators.

Sighinolfi earned his master’s degree at Trinity College in Hartford, Connecticut and his law degree at the Columbus School of Law at Catholic University of America in Washington, D. C.

“I’ve worked in many aspects of workers’ compensation, and I truly believe what Ametros is doing is on the cutting edge of the industry,” said Sighinolfi. “I’m thrilled to be joining the Ametros team.”

Marsh’s Sastry Durvasula Honored

Sastry Durvasula, chief digital officer and chief data & analytics officer for Marsh, is among the 2018 Top Ten Insurtech Leaders identified by ACORD, the global data standards-setting body for the insurance industry.

ACORD spoke to industry stakeholders globally and evaluated vision, impact and execution to identify the leaders with the greatest current and potential ability to change the industry through Insurtech.

Durvasula joined Marsh in August 2017, to lead the strategic design, development and delivery of Marsh’s digital capabilities, data and analytics, and client-facing technology across the firm’s global business.

Edward Levin Takes Key Role with AIG

AIG announced the appointment of Edward Levin as global head of accident & health, General Insurance. He will report to Christopher Townsend, CEO of AIG International General Insurance, and will start next month based in London.

In this new role, Levin will be responsible for the global A&H portfolio, including distribution and underwriting strategy. He will develop a global A&H strategy, identify growth opportunities and create a diverse distribution pipeline.

Levin joins AIG from Chubb, where he served in senior roles, including division president of international A&H and most recently as group digital business officer. Previously he spent four years at ACE Europe as executive vice president of A&H, life and personal lines. Earlier in his career, he held roles at Citigroup and Booz Allen Hamilton.

Townsend said: “Edward’s deep understanding of the A&H business and his experience in building out digital platforms and products will add value as we develop next-generation digital capabilities for AIG. I am pleased to welcome Edward to AIG as we position our A&H business for growth in an evolving industry.”

Levin added: “I’m looking forward to joining AIG to build a market-leading A&H business. AIG has a strong heritage of product innovation and distribution leadership in this area; with this renewed focus, we will be well positioned to deliver products and services that add value for our customers.”

The R&I Editorial Team can be reached at [email protected].

Principles of Corporate Resilience

How an accelerating risk environment is raising the stakes for risk managers — and how carriers are responding.

By: Liberty Mutual Insurance | December 4, 2024

The nature of risk is evolving. It has become more volatile, interconnected, and intense, as reflected in the heightened frequency and severity of losses experienced by businesses and their insurance carrier partners.

2023 was the warmest year on record. Cybercrime is escalating at the same time that generative A.I. has begun transforming our economy. All this amidst two kinetic wars, persistent economic inflation, and rising legal system abuse.

“We’re all facing a future that is more uncertain than we have previously faced,” said Wesley Hyatt, Chief Client Officer, Global Risk Solutions, Liberty Mutual. “What I continuously learn from our clients is that they are equally focused on protecting their businesses today, and building partnerships, programs and a risk-taking culture that will endure,”.

Geopolitical, economic, and legal systems are being challenged at a rate most risk professionals haven’t seen in their lifetimes, all while we’re experiencing the impacts of climate change.

Against this backdrop, the role of today’s risk managers has shifted significantly, and it has prompted a reimagining of the way insurance carriers provide value to clients and brokers, according to Hyatt and Elizabeth Geary, President, Insurance Solutions, Global Risk Solutions, Liberty Mutual.

“Today’s risk environment demands resilience. That means anticipating, responding to, and adapting amidst rapid change,” explained Geary. “The concept of building resilience is central to the way we’re supporting clients and brokers, but it’s also foundational to how we think about evolving our own solutions and how we deliver them,” she added.

The Changing Role of Today’s Risk Managers

Wesley Hyatt, Chief Client Officer, Global Risk Solutions, Liberty Mutual

When considering today’s accelerating risk environment, organizations’ senior business leaders are looking to risk managers to take a more proactive role in shaping a resilient strategy. In this way, the practice of risk management today differs from what it has been in the past, according to Geary and Hyatt, making the role of risk managers:

More visible. The increased cost of insurance is being reflected in premiums and losses. As a result, business leaders want to know the contingency plans, projected costs, and impact on an organization’s long-term goals.

More strategic. Risk managers increasingly have a seat at the table as part of the strategic decision-making process. Their insight into the breadth of challenges a business could face, beyond traditional risk assessment and mitigation, is critical in assessing the viability and sustainability of any initiative.

More urgent. As risks evolve, the pace at which risk managers need to work has increased, partly due to the globalized nature of business and the speed of communication. The impact of shifts in trade policy or geopolitical factors demand a swift response from companies with global operations or supply chains, which comprise a vast share of contemporary businesses.

More complex. Evolving and emerging risks, along with rising costs, have prompted businesses to transform how they structure their risk management programs. This includes making trade-offs in risk retention, implementing complex tower structures, and placing a greater emphasis on business continuity, cybersecurity, quality assurance, and safety programs.

More tech driven. As the field of risk management continues to evolve, technology has become a critical tool for risk managers wanting to better understand, quantify, and monitor risk. However, as organizations expand their use of technology, cyber risks rise in tandem, further emphasizing the tech-savviness required of risk managers today.

Insurers as a Source of Support

Elizabeth Geary, President, Insurance Solutions, Global Risk Solutions, Liberty Mutual

While the role of the risk manager has changed, so has the role of the insurer — or at least it should, according to Hyatt and Geary.

“The feedback loop that allows us to make continuous improvements or adjustments to products and services has become more sensitive to the changing needs of risk managers and reflective of emerging risks. As a carrier, we need to move at a much faster pace, providing that perspective to clients and collaborating more closely than we have in the past,” explains Geary.

Echoing that sentiment, Hyatt added that “to do this effectively, we must closely understand our clients and their businesses. This means showing up and listening to their priorities and learning their tolerance for risk and the role it plays in meeting their goals.”

Together, Hyatt and Geary are prioritizing three components of what they’re calling “Corporate Resilience” to help risk managers navigate the complexities of the market: information, innovation, and collaboration.

Knowledge is power. According to Hyatt and Geary, building resilience begins with understanding the risks a business may be facing. They believe Liberty Mutual plays a foundational role in helping clients stay abreast of changing risk trends and unlocking the power of advanced data analytics to mutually benefit their businesses.

“Today’s risk managers aren’t just looking for products, services, and risk transfer, they’re looking for expertise and problem-solving. They’re seeking support in thinking through their value chain to identify risks, see around corners, and prepare,” said Hyatt.

“Clients benefit from our ability to understand their businesses at a granular level while also bringing the context of what we’re seeing from a high-level, external perspective across similar companies, in addition to the macro trends, globally,” she added.

Product innovation — a two-way street. At Liberty Mutual, client-centricity remains at the heart of its innovation strategy by cocreating solutions with its clients.

“As partners, we have a responsibility to move along with the risk and respond in a way that helps our clients and brokers, whether that’s creating new solutions or changing our existing products and services,” says Geary. Her team’s priorities in the Global Office of Underwriting include cyber, climate, energy transition, and alternative risk solutions, among others, all with a focus on offering fit-for-purpose solutions, stable capacity, and taking a long-term view.

“It’s not an ‘if we build it, they will come philosophy,’ and it doesn’t happen overnight,” explained Hyatt. Rather, she describes meaningful product innovation as the result of close and enduring partnership and deep understanding on both sides.

“It’s mutually beneficial,” said Hyatt, “and our mutual structure is a strength because it allows us to take a long-term view and affords us flexibility,” she added. “We provide the expertise and security clients need to innovate and grow their businesses. Our mutuality also means we succeed when our clients succeed.”

Partnerships that Extend Beyond RiskTransfer. With the demands on risk managers not relenting anytime soon, clients are increasingly seeking more support.

“As the way we help clients manage risk changes, our business has become less transactional. Our clients are not just transferring risk, they’re building a partnership,” explained Geary.

While industry-leading risk control capabilities, best-in-class service and superior claims handling have always differentiated Liberty Mutual, Hyatt sees clients increasingly seeking the benefits of a robust support network of other risk professionals.

In her role as Chief Client Officer, she’s deliberately incorporating community-building elements into Liberty’s programs to leverage some of those opportunities. The firm’s Corporate Resilience thought leadership series, for example, brings the risk management community together for expert panel discussions to help clients network and learn from each other. Hyatt is also helping support the firm’s public affairs initiatives, which assist clients in understanding legal system abuse and the pivotal role they play in collectively pushing for tort reform.

“Forums like these complement our client engagement strategy, which also includes local and national events, as well as relationship leads who help our largest clients access the expansive, global capabilities of Liberty Mutual that may bring value to the strategic relationship,” Hyatt explained.

These dialogues and the philosophy of continuous improvement through the power of collaboration are increasingly helping the firm drive preference with clients.

Better Together

In reflecting on her focus on building Corporate Resilience, Hyatt shared, “it’s important to keep in mind that we’re all in this together. One of the mantra’s of our leader, Neeti Bhalla Johnson, is ‘our clients’ future is our future’ and we very much believe that.” Geary and Hyatt’s hope is that their commitment to Corporate Resilience pioneers new ways to ensure that the future is bright for Liberty’s clients.

“We’re taking the current unrelenting pace and intensity of today’s industry challenges and using them as triggers for how we can home in on building success for our clients amid uncertainty and providing them with greater security,” says Geary. “All this ties directly to our mission of helping clients embrace today and confidently pursue tomorrow.”

To learn more, visit: lmi.co/corporateresilience

This article was produced by the R&I Brand Studio, a unit of the advertising department of Risk & Insurance, in collaboration with Liberty Mutual Insurance. The editorial staff of Risk & Insurance had no role in its preparation.

Liberty Mutual Insurance offers a wide range of insurance products and services, including general liability, property, commercial automobile, excess casualty and workers compensation.

6 People on the Move

Everest Picks Up Kevin Flaherty in Property