AmWINS Program Underwriters Expands Long-Term Care Underwriting Capabilities With Acquisition of CIMI Professional.
CAMP HILL, Pa. -- AmWINS Program Underwriters ("APU"), an AmWINS Group company ("AmWINS"), is pleased to announce that AmWINS has acquired certain assets of CIMI Professional. CIMI Professional is a long-term care managing general underwriter (MGU) and a division of Chandler Insurance Managers, Inc.
In conjunction with the acquisition, Matthew J. Wasta, FCAS and Amanda Fioretti of CIMI Professional have joined APU to establish a new underwriting branch in Farmington, Connecticut specializing in providing liability coverage for nursing home facilities, nursing exposures, as well as continuing-care retirement communities.
Wasta and Fioretti have worked together for more than seven years and have developed a significant expertise around long term care facilities and the ability to offer unique and competitive solutions for this niche. During their time at CIMI Professional, Wasta had responsibility for managing all aspects of CIMI's professional liability products and underwriting and Fioretti was assistant vice president and product manager.
"Bringing Matt and Amanda on board represents our continued focus on specialization and unique products," said M. Steven DeCarlo, CEO of AmWINS. "Not only will their expertise diversify APU's product offering, but they will be a great addition to our healthcare specialty practice, which already writes over $300M in premium in the United States."
Wasta earned his Fellowship in the Casualty Actuarial Society in 2004 and has over 18 years of experience in the insurance industry. Prior to joining CIMI Professional, he was executive vice president at PointRight Inc, a data and analytics company focused on improving the quality of care given at long-term care facilities. Prior to joining PointRight, Wasta was senior vice president and product manager for Ironshore Insurance where he served as the product manager for the long-term care unit, which he developed and launched in 2008. Wasta was responsible for managing all aspects of the development and operation of the unit, including designing and managing the distribution plan, monitoring the portfolio by creating informative metric analyses, and designing a litigation risk assessment tool.
Before joining Ironshore, Wasta spent four years as a vice president at OneBeacon Professional Partners where he served first as the medical malpractice actuary and then as the long-term care product manager. He was responsible for all aspects of the long-term care underwriting group, including the profitability for the book of business. While working as the product manager, Wasta reengineered the underwriting process by implementing an underwriting strategy based on the output of multivariate predictive models.
AmWINS Group, Inc. is a leading specialty distributor of insurance products and services with expertise across a diversified mix of property, casualty and group benefits products. With over 2,800 employees located in 18 countries, AmWINS handles over $7.5 billion in premium annually through our four divisions: Brokerage, Underwriting, Group Benefits and International. AmWINS is ranked by Business Insurance as the largest P&C wholesale broker in the United States.
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|Comment:||AmWINS Program Underwriters Expands Long-Term Care Underwriting Capabilities With Acquisition of CIMI Professional.|
|Date:||Feb 4, 2013|
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