Rampe Named Ethics Officer at ACE

|

NU Online News Service, May 3, 2:39 p.m.EDT--Kevin Rampe, who headed the Lower ManhattanDevelopment Corporation, which is overseeing the rebuilding of theWorld Trade Center area, has quit his post to become the globalethics and compliance officer for Bermuda-based ACE Limited.

|

Mr. Rampe will chair a new company global ethics and compliancecommittee responsible for coordination of compliance-relatedfunctions. His mandate will include communication and training forbusiness ethics and compliance-related matters across theorganization.

|

The move comes in the aftermath of the investigations of NewYork Attorney General Eliot Spitzer into bid-rigging and hiddencontingency fees paid by insurers to brokers. One ACE executivepled guilty to a misdemeanor stemming from the investigation.

|

Company spokesman Robert Grieves said ACE's own internalbid-rigging and contingency fees investigations have concluded,while the company is still conducting an examination as to whetherits use of finite reinsurance products involved properaccounting.

|

Mr. Rampe will report on a day-to-day basis to Robert Cusumano,general counsel of ACE Limited, and will also report directly toEvan Greenberg, president and chief executive officer of thecompany.

|

Prior to his move to the LMDC, Mr. Rampe served as first deputyinsurance superintendent in New York and as a senior adviser to GOPGov. George Pataki.

|

He is leaving the LMDC at a time of uncertainty when safetyconcerns expressed by law enforcement officials about the proposedFreedom Tower threaten to postpone the project for over a year.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.