AXA XL’s North America Construction business has promoted Ray Allen and Jim Richert to lead its Construction Professional and Subcontractor Default Insurance business lines respectively.
In his new role as head of AXA XL’s SDI Profit Center, Richert will assume underwriting management oversight of AXA XL’s SDI business, offering general contractors and construction managers financial protection against potential financial losses that result following the failure of subcontractors to perform.
Richert brings 25 years of experience in the construction industry, including 15 years focused on SDI.
Since 2011, he has managed the business line’s team of SDI risk engineers that provides consultation, training, and best practices to help contractors minimise subcontractor default risk.
As Head of AXA XL’s Construction Professional Profit Centre, Allen will assume underwriting management of AXA XL’s contractors professional and environmental liability insurance coverages.
Allen brings over 20 years of professional liability and pollution insurance experience collected in various claims, underwriting and management roles.
Gary Kaplan, Head of AXA XL’s North America Construction business, said: “Since we launched our Construction business more than 10 years ago, Jim and Ray have been instrumental in growing our book of business and developing the products, services and talent that our construction clients have come to count on.
“It’s exciting to see them now apply their risk management expertise, construction industry knowledge, and proven leadership skills to bigger roles as our new profit centre leaders.”