Victor, a global managing general underwriter (MGU), has announced the appointment of Ashleigh Cashman as President of International Catastrophe Insurance Managers LLC (ICAT), its US property catastrophe managing general agency (MGA).
In her new role, effective 17 July, Cashman will be responsible for the overall growth, innovation, and talent development for ICAT and its Boulder Claims subsidiary.
ICAT underwrites wind and earthquake property insurance for businesses and homeowners in 42 states and recently became the exclusive MGA and third party claims administrator for Victor Insurance Exchange, a reciprocal exchange affiliate offering property catastrophe insurance to businesses and individuals.
Cashman commented: “In today’s challenging property catastrophe market, agents and brokers need an insurance provider that can deliver reliable capacity, underwriting expertise, and best-in-class service.
“I look forward to leading the talented teams at ICAT and Boulder Claims and driving further innovation in the market with the goal of helping people and businesses recover after a natural disaster.”
Cashman joined ICAT in 2003 and has served in steadily increasing leadership roles within ICAT’s underwriting department.
In 2018, she was named Chief Underwriting Officer and took over the leadership of ICAT on an interim basis in December 2022.
Her new role will be in addition to her current position as Chief Underwriting Officer of ICAT. She will be based in Broomfield, Colorado and report to Brian Hanuschak, CEO of Victor, who said:
“Ashleigh is an exceptional customer-centric leader with a deep understanding of the property catastrophe insurance market.
“Her proven track record of delivering solid underwriting results and innovative capital solutions will provide strong and effective leadership as ICAT continues to drive growth in this important sector.”
Last month, the MGU announced the launch of Victor Exchange, a reciprocal insurance exchange, to deliver additional US property catastrophe capacity to existing and new policyholders of ICAT.
It has joined ICAT’s existing carrier panel offering small commercial property catastrophe coverage in the 42 states in which ICAT operates and launched a coastal homeowners program serving policyholders in states along the Gulf and Atlantic coasts.
According to the announcement, the initial capitalization for Victor Exchange will be in the form of a surplus note wholly provided by Gallatin Point Capital LLC.
