|By Marketwired .||
|January 17, 2014 02:16 PM EST||
HARTFORD, CT -- (Marketwired) -- 01/17/14 -- IFG Companies has announced its planned entry into the Professional Lines marketplace in 2014 and has hired Lori H. Marino - Senior Vice President - Professional Lines, to lead that effort. This new business unit will offer a full suite of Management (D&O) and Professional (E&O) Liability products for small to mid-sized businesses. Lori will be responsible for establishing IFG's presence in the Professional Lines market, developing and implementing a sound, long-term business strategy, and building a first-class IFG team dedicated to this market.
"We are excited to be entering the Professional Lines marketplace and continuing to broaden our product portfolio," said Bob Linton, Chairman of IFG Companies. "Lori is an accomplished business leader who has great depth of Professional Lines experience, an entrepreneurial spirit and the practical knowledge for launching a successful new line."
Lori was part of the leadership team that launched a Professional Lines start-up operation at Valiant Insurance Group, which was subsequently sold to Crum & Forster. At Valiant, Lori created and rolled out insurance products for the public and private D&O, EPLI, Fiduciary Liability and E&O markets. She also participated in reinsurance treaty placements and facilitated all facultative placements for her developing book of business.
Lori joins IFG from Crum and Forster where she served as Senior Vice President for the Management and Professional Services Group. Prior to Valiant, Lori served as Senior Vice President of ACE USA's Professional Risk Group. During her time at ACE, Lori helped grow the business nearly seven-fold and establish ACE as a top-tier primary D&O carrier.
Lori has held a variety of senior underwriting positions with Kemper Financial Solutions and Zurich's Executive Assurance Division, handling commercial D&O, EPLI and Fiduciary Liability Insurance. She began her insurance career working in both treaty and facultative reinsurance markets at Swiss Re America and Wilcox Reinsurance Intermediaries.
Lori holds a Bachelor of Science Degree in Accounting from the University of Delaware and is a CPCU.
Founded in 1985, IFG Companies is one of the largest privately held insurance groups in the United States. IFG provides property-casualty insurance on both an Excess and Surplus Lines (non-admitted) basis and an admitted basis.
Coverages are underwritten by IFG's affiliated insurers: The Burlington Insurance Company, First Financial Insurance Company, Alamance Insurance Company and Guilford Insurance Company. All hold an A (Excellent) IX rating from A. M. Best Company.
In addition to the newly formed Professional Lines unit, IFG has four principal business units that sell exclusively through Wholesalers: Brokerage, Binding Authority, Submit and Property:
- Brokerage: underwrites general liability insurance for businesses of all sizes on a transactional basis including for distributors, importers, manufacturers, wholesalers, habitational, vacant buildings, retail and service-related industries.
- Binding Authority: offers coverage for an extensive, yet focused list of classes of business written exclusively through contracted producers.
- Submit: underwrites referral business on a transactional basis primarily from IFG's Binding Authority unit and from individually submitted accounts for general liability, property, inland marine and package products coverages for small to medium-sized businesses (e.g., artisan contractors, distributors, importers, wholesalers, manufacturers, office/habitational risks and retail/service industries).
- Property: underwrites property insurance for small to large businesses such as the amusement, recreational, education, financial, government sectors, habitational, health, office/professional, mercantile/retail, trade/services and vacant buildings.
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