Revealing the latest executive defection from financiallytroubled American International Group, Zurich announced that Ty R.Sagalow, former president of AIG Product Development, has beennamed executive vice president and chief innovation officer for itsNorth America Commercial Marketing unit.

The Schaumburg, Ill.-based insurer said in his new position, Mr.Sagalow will oversee all of North America Commercial's strategicproduct development initiatives in the United States and Canada,and will have responsibility for the business division'sProposition Development and Marketing Research departments.

Mr. Sagalow will be based in New York and will report to JohnParker, chief marketing officer for North America Commercial.

The company noted that while at AIG Mr. Sagalow oversaw thedevelopment of numerous new insurance products, including directorsand officers liability policies, cyber-risk insurance, identitytheft, and various management and professional liabilityproducts.

Prior to his product development role, he was chief operatingofficer of AIG eBusiness Risk Solutions and was chief underwritingofficer and general counsel of National Union Fire InsuranceCompany of Pittsburgh.

Mr. Sagalow has written on complex and emerging risks including“D&O Insurance: A Director's Guide” (National Association ofCorporate Directors) and “@Risk: The Definitive Guide to eCommerceRisk and Insurance.”

“Ty's proven track record of bringing innovative insurancesolutions to market quickly and efficiently fits perfectly withZurich's commitment to meeting the evolving needs of our customerbase,” said Mr. Parker.

Zurich's North America Commercial and Global Corporate in NorthAmerica business divisions are part of Zurich Financial ServicesGroup (Zurich), an insurance-based financial services provider withsubsidiaries and offices in North America and Europe as well as inAsia Pacific, Latin America and other markets. The Zurich Group isheadquartered in Zurich, Switzerland.