Travelers Property Casualty Corp. has entered the market for nonstandard automobile insurance in New York. The company will offer coverage in New York state to drivers with accidents or violations on their records, those with no or limited driving experience and those who drive high performance vehicles.
"Our nonstandard program allows our agents in New York to offer a Travelers personal auto policy to a much larger customer base," said Peter Bothwell, senior vice president, personal lines at Travelers Property Casualty. "This program also permits Travelers to continue providing coverage for customers even if their driving record and risk profile changes."
According to Bothwell, "The presence of Travelers in the nonstandard market increases the availability of coverage for drivers at higher risk who might otherwise have to turn to the assigned risk plan."
In August 1997, the Travelers office in Glens Falls was named as the national service center for the company's nonstandard program. At that time, Travelers announced its decision to add at least 400 new jobs there, 200 of which will support nonstandard auto. Bothwell said that 40 of these positions were filled soon after the announcement and that another group of approximately 40 people has since been hired.
Travelers Buffalo office also has been selected as a regional claims center for the nonstandard program. This will bring an additional 60 to 80 jobs to that part of the state over the next two years.
The launch of the Travelers program in New York builds off the success the company has had with pilot nonstandard programs in Texas and Alabama. The company's Travelers Specialty Auto unit will roll out the program to nine additional states during the next year.
New Jersey
Chatham-based agency names executives
O'Gorman & Young, Inc., an insurance brokerage firm headquartered in Chatham, with offices in Princeton operating under the name of G.R. Murray Insurance, announced that Gene Tracey, treasurer and co-owner, has been named chairman and majority stockholder; and E. Jay Lawton, vice president, has been appointed president and chief executive officer.
Tracey, as majority stockholder, assumes that responsibility from Sim Rollinson, president since 1983 and former co-owner, who has retired. At the same time, Lawton, based in Princeton, succeeds Rollinson as president.
As part of the transition, which includes moving O'Gorman & Young from a traditional insurance-only brokerage to a consulting firm offering a broader range of alternative risk financing services, the firm announced the following appointments:
Richard Farnow, controller, has been named chief financial officer.
John Dana, previously executive vice president of the program division at Bollinger Fowler Co., Short Hills, has joined O'Gorman & Young as vice president, responsible for new business development and client services.
Connecticut
Satellite Agency Network names Connecticut executive
The Satellite Agency Network of New England (SAN) has appointed Thomas F. DiGirolamo vice president of SAN Group Connecticut. DiGirolamo will be responsible for developing and managing independent satellite members throughout the state and will negotiate and implement member contracts and lead orientation and training for SAN members and staff. In addition to organizing new markets for individual members, DiGirolamo will serve as the liaison between agencies and the SAN corporate office.
Most recently, DiGirolamo was commercial business development executive for Providence Washington Insurance Companies.
With over 86 active members, the SAN Group is instrumental in preserving New England's independent agency system. SAN is part of the Satellite Insurance Agency Alliance (SIAA), an independent insurance agency distribution system.
New York, Pennsylvania
CPCU Society plans business income workshop
The CPCU Society's New York and Philadelphia chapters are co-hosting a half-day workshop on May 19 in New York City and May 20 in Philadelphia dealing with business income coverages.
The speaker for both the New York and Philadelphia workshops will be Robert B. Edgar, vice president of Chubb & Son. He currently serves in the "all line" Commercial Underwriting Department and as an advisor to Chubb branches on large property and business income accounts.
The New York workshop will be held at the College of Insurance on May 19 from 8 a.m. until noon. Registration costs $109 for nonmembers and $99 for CPCU Society members.
The Philadelphia workshop on May 20 will be held at the DoubleTree Hotel, Broad Street at Locust. Registration costs $95 for nonmembers and $85 for members.
For more information, call Bonnie Kinsley, continuing education manager: (800) 932-2728. *
©COPYRIGHT: The Rough Notes Magazine, 1998