CMIC Group CFO, Manny Zervos, Announces Retirement; Michael Conneely, CMIC Group Director of Finance, to Assume Role of CFO

December 13, 2017 by matray

CMIC Group announced today that its chief financial officer, Emmanuel (Manny) Zervos, will retire at the end of the year. He has served as CMIC’s CFO since 1989.

“Manny has served CMIC Group for decades with unstinting grace and professionalism, in addition to good cheer,” said John Hornby, MD, chairman and president of the CMIC Board of Directors. “Most notably, he has overseen CMIC’s geographical expansion, including the formation of the CMIC Risk Retention Group, and subsequently CMIC Group, with great distinction, likewise helping to amass the company’s present financial strength. His contributions will have a lasting impact on the company.”                                       

The CFO role will be assumed by Michael Conneely, the company’s current director of finance. Conneely has more than 25 years of business and accounting experience, including 17 years in the insurance industry. He spent the most recent 14 years in financial roles supporting several business lines at Travelers Insurance. Prior to that, he worked in a variety of financial roles in the insurance industry, including roles with a prominent reinsurer, as well as seven years with Deloitte & Touche.

“Mike’s extensive and varied experience in the financial industry is an immense asset to the company,” Hornby said. “In addition, I’m certain his leadership, vision and financial guidance will not only uphold CMIC Group’s already pristine reputation of financial diligence, but strengthen it for many years to come.”

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John Lyddane, Noted Medical Malpractice Defense Attorney, Joins Dorf & Nelson

December 11, 2017 by matray

Dorf & Nelson LLP announced today that noted medical malpractice defense litigator John Lyddane has joined the firm as a partner. Lyddane will head up Dorf & Nelson’s Medical Malpractice Defense Group in New York. He joins from Martin Clearwater & Bell.

Lyddane has tried more than 250 cases to dismissal or verdict. His cases have included malpractice claims and product liability as well as general commercial litigation, usually with a highly technical factual component. He is also a widely-published and frequent speaker on professional liability and risk management topics.

His wide-ranging roster of corporate clients has included hospitals, insurance carriers, product manufacturers, large residential landlords, municipalities and the State of New York. He also has represented numerous prominent individual defendants including physicians at teaching hospitals, other attorneys, and engineers. Additionally, he has served as national claims counsel for two corporate suppliers of medical services.

"“We are excited that John has decided to join our team,”" said Jonathan B. Nelson, chair of Dorf & Nelson’s Litigation Department. "“He is an icon in the field of insurance defense and we could not be more pleased to have him on board. John’'s vast experience in medical malpractice and complex personal injury defense will complement our thriving commercial litigation practice. With John to guide the practice group and try major technical cases, the systems of Dorf & Nelson will be put to their most effective use. Dorf & Nelson's wide ranging portfolio of legal services will allow our firm to effectively and efficiently service the medical community."

Lyddane noted that Dorf & Nelson’s legal and technical range was the right match for the future of complex litigation:

"“Dorf & Nelson is an innovative firm which uses advanced technology and procedures to focus on the critical facts and issues at an early point in complex litigation and then prepare for trial efficiently,"” Lyddane said. "“This benefits the attorneys, the individual clients and their insurance carriers. Equally important, Dorf & Nelson has a team of attorneys who can engage in the full range of litigation strategies as well as an experienced lineup of seasoned practitioners who can provide transactional legal counseling to my clients."”

According to Dorf & Nelson, Lyddane is consistently ranked among the top attorneys by his peers, with an AV Preeminent rating by Martindale-Hubbell and inclusion in the “Best Lawyers in America.” He is a fellow of the American College of Trial Lawyers. He holds a J.D. from Syracuse University School of Law, and a B.A. from the University of Rochester.

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CMIC Group CEO, Denise Funk, Announces Retirement; Stephen Gallant, CMIC Group COO, to Assume Role of CEO

December 7, 2017 by matray

CMIC Group announced today that its chief executive officer, Denise Funk, will retire at the end of the year.

Funk joined CMIC at the company’s onset in 1984, recruited by the Connecticut State Medical Society as a consultant for the newly formed mutual company founded by Connecticut physicians. She was charged with setting up the company and managing CMIC’s operations for three years. At the conclusion of the contract, Funk took over the position of chief operating officer, and thereafter, chief executive officer. Since then, CMIC has grown extensively, both in logistics as well as in policyholders. Although originally established in Connecticut, the company is now active in 13 states and has expanded to include both CMIC and its member affiliate, CMIC RRG, both of which now fall under the CMIC Group umbrella.

“Denise has led the company with unflinching grace, professionalism and wisdom for over three decades,” said John Hornby, MD, chairman and president of the CMIC Board of Directors. “The inception and subsequent success of the company, whose founding enabled many physicians to hang their own shingle and weather a turbulent era in the healthcare industry, is unquestionably due to her extraordinary contributions. Her imprint on the company will be felt for many years to come.”

The role of chief executive officer will be assumed by Stephen Gallant, the company’s current chief operating officer.

Gallant has more than 20 years of experience in the insurance industry. Prior to joining CMIC Group in March 2017 as COO, he served as senior vice president of MMG Insurance Company, a property and casualty carrier headquartered in Maine. Additionally, he had also worked for MMG Insurance Company as its vice president of marketing and assistant vice president of accounting.

“Steve’s appointment as chief executive officer marks an exciting new chapter in CMIC Group’s remarkable story,” Hornby said. “His leadership, coupled with his many years of experience, will not only help the company reach its strategic goals in the coming years, but also help CMIC Group to excel far into the future.”

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Coverys Finalizes R & Q Managing Agency Ltd. Acquisition, Plans to Launch Lloyd’s Syndicate 1975 on Jan. 1, 2018

December 5, 2017 by matray

On Dec. 4, Coverys announced the completion of the acquisition of R & Q Managing Agency Ltd. (RQMA). Under the terms of the agreement, RQMA, a fully authorized Lloyd’s managing agency based in London, will be renamed Coverys Managing Agency Limited. The agency currently manages Syndicates 1991, 3330 & 1110, and is in the final stages of the “Making it Happen” process with Lloyd’s to establish Syndicate 1975 as a specialist Medical Professional Liability and Healthcare underwriter. Syndicate 1975 will be exclusively capitalized by Coverys and is expected to commence underwriting on Jan. 1, 2018. “Coverys’ investment in the managing agency showcases our commitment to expand our activities to meet the needs of a changing market,” said Gregg Hanson, CEO and president of Coverys. “This continued growth offers the ability to expand our sophisticated solutions space while leveraging the leadership team of the former RQMA. We are excited by the formation of our own Syndicate, but remain committed to the provision of management to third party Lloyd’s businesses.” “We look forward to continuing to build our relationship with Randall & Quilter Investment Holdings Ltd. as we explore opportunities to work together in the future,” said Hanson. “R&Q will remain an active resource for management of legacy portfolios and a liaison for Coverys and Lloyd’s opportunities.”

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Coverys Finalizes Acquisition of Global Insurance Management Company, Inc.

December 5, 2017 by matray

On Dec. 1, Coverys finalized the acquisition of Global Insurance Management Company, Inc. (GIMC). GIMC and its insurance subsidiary, Healthcare Underwriters Group, Inc., provide medical professional liability insurance for physicians and healthcare providers in Florida, Indiana, Kentucky, Ohio and Texas. “Coverys is committed to expanding GIMC’s ability to offer superior products and services to grow and expand for the benefit of our policyholders and clients and to bringing long-term availability, predictability, and stability with this acquisition,” said Gregg L. Hanson, CEO and president of Coverys. “The acquisition strengthens GIMC’s ability to expand our service offerings to a core group of hospital and physician policyholders and provides the ability to issue policies in all 50 states,” said Joshua Salman, CEO and president of GIMC. “Now being a part of a larger healthcare professional liability group, our policyholders will benefit from the greater level of financial stability and Coverys’ A rating.”

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