New York--Tower Group, Inc. today announced the appointment of Joseph P. Beitz to a newly created position as Managing Vice President, Program Underwriting, reporting to Michael H. Lee, Tower Group, Inc's President & Chief Executive Officer. Mr. Beitz's primary responsibilities will be the production and management of new program opportunities for the company, which will be underwritten by its own insurance company and through other insurance companies for which its managing general agency produces premiums.
"We are very pleased with the establishment of the Programs Unit and the appointment of Joe Beitz as its head," commented Michael H. Lee, President & Chief Executive Officer of Tower Group, Inc. He further commented, "The establishment of our program capability compliments our regional distribution approach currently utilized to deliver a broad array of products to a wide network of wholesale and retail agents in a select geographical area. Our Programs Unit will allow us to gain access to established, highly focused and narrowly defined books of business that are distributed over a broader geographical area not accessible through our regional distribution approach. In addition, this program capability will enable us to add greater value to our agents by developing new program opportunities for classes of businesses which we either do not currently offer or have limited market penetration."
Tower will leverage its robust insurance company infrastructure that has extensive capabilities in the underwriting, claims, actuarial, operations and technology areas. In addition to providing these capabilities, the company also plans to assume a significant amount of risk on all of the programs that it plans to underwrite either by utilizing its own insurance company on a direct basis or by reinsuring other insurance companies managed through its managing general agency operation. With 25 years of experience in the insurance and reinsurance industry, Mr. Beitz most recently served as President and Chief Operating Officer of NOVA Casualty Company in Buffalo, New York
In his role at NOVA Casualty Company, Mr. Beitz managed their program division through a subsidiary, NOVA Alternative Risk. Prior to that, Mr. Beitz served as Vice President, Non-Traditional Treaty Underwriting with Odyssey America Reinsurance in its Stamford, Connecticut and New York City offices. He also has six years of Property & Casualty experience in the Bermuda market.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access