ACE USA Professional Risk Announces New Leadership; Forms New Corporate Risk Management Liability Unit.Business Editors PHILADELPHIA--(BUSINESS WIRE)--Sept. 5, 2003 ACE USA Professional Risk, a part of ACE Diversified Risk, today announced new leadership and the formation of a new Corporate Risk Management Liability unit. ACE USA Professional Risk is the division within ACE USA that has responsibility for Management Liability, Professional Liability and Professional Liability Programs distributed through retail brokers throughout the U.S. Newly leading these efforts will be Tim O'Donnell, Executive Vice President. Based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , Mr. O'Donnell replaces David Lupica, who has been named Executive Vice President of ACE Westchester Specialty Group's newly-organized wholesale Professional Risk Division. Mr. O'Donnell brings his more than 22 years of diverse insurance industry experience to ACE USA. He joins the company from American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. (AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group ), most recently serving as Regional Vice President of the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Zone for the Domestic Brokerage Group as well as President of the Financial Institution Group of National Union. He previously served as Vice President and Risk Manager at Salomon Inc. and at Travelers Group as well as holding senior broker and underwriting positions at Marsh, Inc. and Chubb Insurance Group. He is a graduate of Boston College, where he received his bachelor of science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in economics. "I look forward to working with the ACE USA Professional Risk team as we continue the process of building a first-class management and professional liability operation to meet the needs of our clients," said Mr. O'Donnell. Additionally, Lisa Lockhead has been appointed Vice President of the newly-formed Corporate Risk Management Liability unit, which will target its distribution to those companies with less than $500 million in revenues and non-profit entities of all sizes. Based in Philadelphia, Ms. Lockhead will report to Mr. O'Donnell. Ms. Lockhead brings more than 16 years of insurance industry experience to ACE USA. Most recently, she served as Executive Vice President for American Insurance Group's (AIG) Middle/Commercial Unit of National Union with responsibility for the Atlanta and Philadelphia regions, with additional responsibility for middle market strategy, underwriting policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental . She also worked for AIG's National Union Management Liability Division in a number of regions throughout the U.S. Ms. Lockhead received her bachelor of science degree in Industrial Management from Carnegie Mellon University Carnegie Mellon University, at Pittsburgh, Pa.; est. 1967 through the merger of the Carnegie Institute of Technology (founded 1900, opened 1905) and the Mellon Institute of Industrial Research (founded 1913). . "The added strength to our management team, the realignment of product distribution channels, as well as the creation of the new Corporate Risk Management Liability unit, will ensure that each market segment receives the attention it deserves," said John Lupica, President of ACE Diversified Risk. "I am looking forward to working with both Tim and Lisa in our continuing effort to establish ACE USA's management liability capabilities in the US." ACE USA and ACE Westchester Specialty Group are part of the ACE Group of Companies, headed by ACE Limited (NYSE NYSE See: New York Stock Exchange :ACE). ACE Limited provides insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. products and services through operating subsidiaries for a diverse group of clients around the world. Additional information can be found at www.ace-ina.com. |
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