Starr Companies has appointed Shane McCaffrey as profit center manager in charge of Defense Base Act and foreign casualty insurance for U.S.-based multinationals.
Starr Companies said Defense Base Act and foreign casualty insurance is a key component to its growth strategy and that McCaffrey is the ideal executive to lead the DBA efforts.
McCaffrey joins the organization from American International Group, where he oversaw a diverse portfolio of contractors working overseas for the American government and focused on claims, cross selling, loss control, and underwriting protocols as it relates to DBA.
McCaffrey brings to Starr Companies nearly 30 years of foreign casualty underwriting experience. For the last 10 years, he has focused on Defense Base Act (DBA) coverages which is a mandatory line of insurance for corporations that receive contracts from the U.S. government to perform work abroad. He will be tasked with providing firms of all sizes that do work abroad customized services that tie together the DBA product with accident and health, kidnap and ransom, claims, and medical evacuation coverage capabilities.
He will be based at Starr Companies’ New York City office and will report directly to Jim Vendetti, executive vice president and chief underwriting officer, Starr Indemnity and Liability Company and Starr Surplus Lines Insurance Company, both members of Starr Companies.
Starr Companies is comprised of C. V. Starr & Co. and Starr International USA. It is a global, privately held, insurance and financial services organization. Starr’s insurance companies, Starr Indemnity & Liability Company and Starr Surplus Lines Insurance Company, provide property/casualty and accident and health insurance products, with significant access to the excess and surplus marketplace for certain lines of business.
The company also writes specialty lines covering aviation, marine, energy and excess casualty insurance, including risks with international exposures. The company provides a broad spectrum of services, including claims handling and settlement, reinsurance, risks assessment and loss control.
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