Agency Checklists’ weekly column featuring the latest hiring news from in and around Massachusetts. We also include mentions on awards and other accolades insurance professionals have achieved too.
David H. McElroy to Join AIG as CEO, Lexington Insurance Company
American International Group, Inc. today announced that David H. McElroy will join the company as Chief Executive Officer of Lexington Insurance Company at a date to be determined.
Mr. McElroy will lead Lexington Insurance Company and report to Peter Zaffino, Chief Executive Officer, General Insurance. Mr. McElroy will serve as a member of the General Insurance Executive Leadership Team and will oversee all aspects of Lexington’s business, the largest Excess and Surplus (E&S) underwriter in the United States. General Insurance’s program business in the U.S. will also report to Mr. McElroy, which includes a range of niche markets written on both admitted and non-admitted bases supported by program administrators with market-leading infrastructure and underwriting expertise.
Mr. Zaffino said: “David is a recognized leader in the insurance industry with an outstanding track record for delivering underwriting profit. I look forward to working closely with David as we transform Lexington and General Insurance to be industry leaders for our clients and distribution partners.”
Mr. McElroy said: “I look forward to joining AIG General Insurance as CEO of Lexington and to working with Peter and his leadership team to restore Lexington to its industry leadership position in excess and surplus lines underwriting.”
Over the course of his career, Mr. McElroy has held numerous leadership roles within the insurance industry, including Executive Chairman of Arch Insurance Group Inc. and Vice Chairman of Arch Worldwide Insurance Group. Previously, he served as Chairman and Chief Executive Officer of Arch Worldwide Insurance Group, an executive position of Arch Capital Group, Ltd. (ACGL).
Earlier in his career, Mr. McElroy held roles at The Hartford Financial Services Corporation, Reliance National and Chubb. Mr. McElroy is a graduate of Temple University with a B.A. in business administration.
The Hanover Insurance Group Appoints Eric C. Cernak to Lead Cyber Practice
The Hanover has appointed Eric C. Cernak as the head of its cyber practice. In this role, Cernak is responsible for overseeing The Hanover’s corporate cyber strategy across all of its commercial lines and specialty businesses, to ensure a cohesive offering of products and services for the company’s independent insurance agent partners.
The Hanover offers a portfolio of cyber insurance products and risk management services targeted to the medium sized and small commercial customers of its agents. With this new position, Cernak will help The Hanover continue to build on its product set and enhance its risk management and loss control providing its agent partners an even greater level of customer service and ease of doing business. Cernak will also collaborate with Chaucer’s cyber team to share best practices and insights on emerging trends.
Cernak joins The Hanover from MunichRe, where he most recently served as vice president and U.S. cyber practice leader for the company’s subsidiary, Hartford Steam Boiler. In this role, Cernak consulted with businesses on cyber coverage, regulatory and legal issues, technical concerns, and strategies. He began his 20-plus year career as an engineering manager where he assessed the viability of technology start-ups and constructed and operated a research and development facility for Hartford Steam Boiler. Cernak is a graduate of Worcester Polytechnic Institute and earned a Master of Business Administration degree from the University of Connecticut.
“We are very pleased to have Eric join our organization,” said Bryan J. Salvatore, president, specialty at The Hanover. “There are increasing complexities within the cyber insurance market that are impacting agents, and we want to be at the forefront of understanding and managing these exposures. Eric brings a wealth of skills and knowledge, and will help us continue to refine clear strategies and expertise across underwriting, risk solutions and claims to support our agents’ existing business and ability to acquire new business.”