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First Mercury Financial creates new professional liability business unit

IBR Staff Writer Published 23 February 2009

To write professional liability and employment practices liability exposures

First Mercury Financial has established a new unit to write professional liability and employment practices liability exposures. The business will be written through the company's CoverX platform, and will be overseen by Thomas Greene, Jr, senior vice president of CoverX.The company said that the program's initial focus will be on professional liability and employment practices liability coverages for small and mid-sized accounts, and is expected to be expanded to capitalize on future marketplace opportunities.

The new operation is based in the Boston office of CoverX, where three key new underwriting professionals have joined the company. Kieran Murray, who most recently served as the professional lines manager of Lexington Insurance Company's national branch, will lead the CoverX team in Boston. He joins CoverX as assistant vice president.

Joining Mr Murray are Robert McGrath, senior underwriter, and Gretchen Grube, vice president. Mr McGrath has most recently served as senior underwriter of professional lines for Lexington Insurance Company, a member of the American International Group of Companies. Ms Grube brings considerable capabilities to the company gained from experience with XL Reinsurance Company and General Reinsurance. She will be leading product development within the professional lines segment and will also have underwriting responsibilities.

Richard Smith, chairman and CEO of First Mercury Financial, said: The addition of a seasoned professional liability team is a logical step in the continued development of First Mercury's specialty niche underwriting platform. We continue to opportunistically invest in experienced underwriters with successful long-term track records, and have great confidence that Kieran, Bob and Gretchen will deliver a quality product to the market and excellent returns to First Mercury.