9 People on the Move
altumAl Brings on Peter Foley in Executive Role
altumAI hired Peter Foley as its new group insurance officer. In this role, Foley will also join the firm’s executive leadership team, where he will work to develop altumAI’s futureWork solution, a program that uses safety technology to avoid risk.
Foley brings over 35 years of industry experience to his role with altumAI. His experience ranges from financial services to risk program design and management.
“We are thrilled to welcome Peter to the altumAI team,” said Douglas Turk, CEO of altumAI.
“Peter has significant industry knowledge and M&A experience that supports our mission to redefine workers’ comp with a streamlined, digital-first user experience and proven, proprietary technology and AI to create insights and action to systemically shift the risk curve.”
NARDAC Insurance Services Announces Firm Launch
NARDAC Insurance Services officially launched its brokerage firm this October in the state of California. NARDAC plans to offer service to the renewable energy, conventional energy, infrastructure and transport sectors.
Founded by Jatin Sharma, along with Brandon Statton and Bill Kost, NARDAC’s initiatives will focus on working directly with its clients to solve non-concurrency challenges as well as encouraging clients to take a front seat approach when confirming their loan covenant agreements.
Additionally, NARDAC will be looking to introduce industry products while including the incorporation of renewable energy.
Sharma recently spoke on the launch of NARDAC, in which he said, “The wholesale insurance market is long overdue for some higher caliber operators, product innovation and a client-centric, flexible service delivery. The COVID-19 pandemic has greatly exacerbated the urgent need for new solutions over the last six months, and as we push further into this hardening market, it will be the innovators that truly listen to and creatively meet clients’ needs who will ultimately succeed.”
He continued, “At NARDAC, our objective will be to invigorate the areas of the energy and infrastructure markets that have either been neglected through product development, leaving clients with limited cover and reducing project scope, or where evolving natural peril risks impacted them in unanticipated and unforeseen ways.”
Sharma, Statton and Kost already have more staff set to join them in this endeavor in 2021.
Marsh Hires Katherine Keefe to Lead U.S. Cyber Incident Management
Marsh announced the hiring of Katherine Keefe as its U.S. cyber incident management leader.
In this newly crafted role, Keefe will be responsible for client assistance in cases of cyber events, such as data breaches and ransomware attacks. Additionally, she will manage Marsh’s connections with the “broader cyber incident management marketplace, including breach coaches, forensic investigators, and cyber insurers.”
Prior to Keefe’s appointment, she spent eight years as Beazley’s head of breach response services.
On Keefe’s recent hiring, Tom Reagan, U.S. cyber practice leader, said, “In the wake of the global pandemic, organizations are looking for strategies and solutions to help mitigate the threat of cyber attacks, which are intensifying in both frequency and severity. As one of the foremost experts in her field, Katherine’s experience, knowledge, and expertise will be of tremendous value to our clients.”
Guy Carpenter Launches New Program Business Unit
Guy Carpenter & Company announced the launch of GC Access, a new program business unit that aims to provide program business solutions. The team will be headed by Michael Jameson, who previously led Guy Carpenter’s program division.
Jameson will take the title of president of GC Access, and he will be responsible for overseeing all activities across the new unit.
With this new launch, GC Access’s main initiative is to offer services to both clients and MGAs operating in the program market.
“GC Access truly represents the scale and scope of capabilities and expertise that Guy Carpenter can bring to support this important client segment,” said CEO of Guy Carpenter North America John Trace.
Jameson will report to Trace.
Alvarez and Marsal Appoints New Investigations Practice Leader
Alvarez and Marsal (A&M) hired Steve Spiegelhalter as managing director and North America investigations practice leader within its dispute and investigations group.
In this role, Spiegelhalter aims to contribute to the advancement of A&M’s “problem solving capabilities” to respond to the market’s demand for advisory service.
Spiegelhalter is a former federal prosecutor who specialized in investigating several facets of criminal activity. Before joining A&M, he was a partner at Ernst & Young where he served as practice leader of forensic & integrity services. He also worked at the U.S. Department of Justice.
“In the face of a shifting regulatory environment and rapidly increasing compliance costs, companies need effective and efficient advisory services that meet current requirements and anticipate future ones. Steve’s hiring augments our capabilities and expands our ability to maximize value for clients,” said Jerry Dent, North America practice leader of Alvarez & Marsal Disputes and Investigations.
“Steve’s extensive experience aligns with A&M’s leadership, action, results approach and advances the solutions we bring to clients.”
Specialty Program Group Appoints Several New Hires
Specialty Program Group (SPG) announced the hiring of Christopher Lamitola and Yiana Stavrakis.
Lamitola was appointed as chief sales officer, the role most recently filled by Stavrakis, who has been promoted to president of Monarch E&S Insurance Services, a brokerage firm acquired by SPG in 2017.
Lamitola joins SPG after working with Allstate Insurance Company as its territory sales leader.
Stavrakis joined SPG shortly after it was founded in 2015. Since then, she has served as chief sales officer.
“Having both Chris and Yiana in leadership roles at SPG is a winning combination,” said Chris Treanor, president and CEO, Specialty Program Group.
“They both have the expertise and track records to take our company to the next level as we continue to grow and lead the market in innovative program and specialty businesses.” &