Property and Casualty insurer Chubb, has announced the appointment of Teresa Black Executive Vice President, Chief Operating Officer of North America Surety.
In her new role, Black will have responsibility for the underwriting, strategy and profitable growth of Commercial and Construction Surety businesses in North America.
Based in New York, she will continue to report to Stephen Haney, Vice President Chubb Group, Division President, North America Surety. She was previously Executive Vice President, Commercial Surety at the insurer for seven years.
Haney commented: “Having worked with Teresa for nearly a decade, I have seen first hand the pivotal contributions she has made to our organisation, both in building our business and cultivating reliable capacity for our customers, and through strengthening our team with her generous mentoring of up-and-coming talent,” said Haney. “I’m excited to see all she will accomplish in this new role.”
Black has 25 years of insurance industry experience and joined Chubb, then named ACE, Surety in 2013 as Senior Vice President and Chief Operating Officer for the U.S. business.
She also previously served as Senior Vice President, Distribution Management, Vice President, National Segment Leader for New York, and Assistant Vice President, Financial Lines.
Prior to Chubb she spent over two years at Freedom Specialty Insurance as D&O Underwriting Manager, and almost seven years at the ACE Group as National Segment Leader/D&O Underwriting Manager.
“Teresa has been an exceptional leader to our surety team and partner to our clients seeking reliable surety capacity for wide-ranging projects,” said John Lupica, Vice Chairman, Chubb Group, and President, North America Insurance. “In this new role she will have a broader impact in setting the course for the ongoing growth of our North America Surety business.”
Chubb is the fifth largest surety underwriter in the U.S., representing more than 70 of the Engineering News Record top 400 contractors. The business offers a wide variety of surety products and specialises in underwriting both commercial and contract bonds and has the capacity to issue bonds on a global basis.