9 February 2021Life

Chubb makes two management changes in North America financial lines

Chubb has appointed Michael Mollica to lead its private and not-for-profit management liability business within the North America financial lines.

Mollica assumes overall responsibility for leading the private and not-for-profit management liability business, which focuses on providing directors and officers (D&O) liability, fiduciary liability, employment practices liability (EPL), workplace violence, crime, and kidnap and ransom insurance products.

He also provides underwriting support for the underwriting service branch (USB), which provides new and renewal underwriting and services for eligible management liability product offerings in the US.

Meanwhile Stephen Troiano has been named executive vice president to lead the US retail financial institutions management liability business, succeeding Mollica. He oversees a team of underwriters providing management liability cover for public and private financial institutions, offering D&O liability, professional liability and other related lines of coverage.

Mollica succeeds Leigh Anne Sherman, who has been appointed division president of ESIS, a third-party claims administrator owned by the Chubb group.

Mollica and Troiano report to Steven Goldman, vice president of Chubb Group and division president for North America financial lines.

Goldman said Chubb’s priority is to strengthen its management liability offering and services. "These appointments underscore the remarkably strong leadership team that we have in place within North America financial lines,” he said.