Gergasko Named Chief Operating Officer.SEATTLE -- SeaBright Insurance Holdings, Inc. (NYSE NYSE
See: New York Stock Exchange : SBX) today announced that Executive Vice President-Operations, Richard J. Gergasko, has been appointed Chief Operating Officer Chief Operating Officer (COO)
The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . In addition, Mr. Gergasko has been elected President and Chief Operating Officer of SeaBright Insurance Company, a wholly owned subsidiary Wholly Owned Subsidiary
A subsidiary whose parent company owns 100% of its common stock.
In other words, the parent company owns the company outright and there are no minority owners. , replacing John G. Pasqualetto, 67, who will continue as Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. .
Gergasko, 50, has served as Executive Vice President in charge of the insurer's operations since the company was formed on October 1, 2003. As COO of SeaBright Insurance Holdings, Inc., Mr. Gergasko will continue to be responsible for operations and will participate in the establishment of the company's strategic direction. He will function in a similar capacity with respect to the insurance company subsidiary.
Mr. Pasqualetto, President, Chairman and Chief Executive Officer of SeaBright Insurance Holdings, Inc. said, "Rich was instrumental in the founding of SeaBright and laying a solid foundation for our company. He has been a key contributor to our success. I have the utmost confidence in his leadership."
Gergasko has 29 years' insurance experience, holds a BA degree from Rutgers College, is a Fellow of the Casualty Actuarial Society The Casualty Actuarial Society (CAS) is a professional society of actuaries. Its members are mainly involved in the property and casualty areas of the actuarial profession. , and is a Member of the American Academy of Actuaries The The American Academy of Actuaries, also known as the “Academy” or the AAA, is the body that represents and unites United States actuaries in all practice areas. .
About SeaBright Insurance Holdings, Inc.
SeaBright Insurance Holdings, Inc. is an insurance holding company whose wholly owned subsidiary, SeaBright Insurance Company, operates as a specialty underwriter of multi-jurisdictional workers' compensation insurance. SeaBright Insurance Company distributes its maritime, alternative dispute resolution Procedures for settling disputes by means other than litigation; e.g., by Arbitration, mediation, or minitrials. Such procedures, which are usually less costly and more expeditious than litigation, are increasingly being used in commercial and labor disputes, Divorce and state act products through selected independent insurance brokers and through its in-house wholesale broker affiliate, PointSure Insurance Services. SeaBright Insurance Company provides workers' compensation coverage to employers in selected regions nationwide. To learn more about SeaBright Insurance Company and SeaBright Insurance Holdings, Inc., visit our website at www.sbic.com.