NU Online News Service, June 18, 2:24 p.m. EDT
Everest Specialty Underwriters, LLC (ESU) has announced the formation of a new division, Commercial Management Liability, that will provide various commercial liability lines of coverage.
New York-based ESU, the professional liability specialists of Everest National Insurance Company in Liberty Corner, N.J., said the new operation will focus on providing coverage and services for commercial directors and officers liability, fiduciary liability, employers professional liability, and crime insurance.
ESU said the new division will be led by Mario Chiappetti and Mark Paccione, both newly appointed vice presidents.
Mr. Chiappetti, an industry veteran, most recently worked at Arch Insurance Group where he held a number of senior underwriting, marketing and field positions, the most recent being the position of senior vice president and regional branch manager of Arch Insurance Group's Mid-Atlantic Region.
Mr. Paccione, with a decade of insurance experience, was previously with Chubb Corp. where he was most recently vice president in charge of managing the underwriting of complex executive protection lines for Chubb Specialty Insurance.
Mark Herman, ESU president, said the new division complements the underwriting capabilities of the recently formed Financial Institutions unit by vice presidents John Iannotti and Kevin Koehler, who previously worked at American International Group where they worked as a team for 15 years leading AIG's Financial Institutions Professional Liability Group.
Everest National Insurance Company is a subsidiary company within the Bermuda-based Everest Re Group Ltd.
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