Hospitality Insurance Group has named Richard E. Welch Jr. as its new president and CEO. He will assume responsibilities in January 2018 and will succeed John W. Tympanick, who recently announced his retirement after 26 years of service with the company.
Welch brings decades of property and casualty insurance experience to Hospitality Insurance Group. Previously, he was the vice president of corporate planning for The Concord Group of Insurance Companies in Concord, N.H., the founder and principal of REW Insurance Consulting Services and the president and CEO of the Premier Insurance Company of Massachusetts.
He brings with him a track record in directing insurance operations and has skills in financial management and strategic planning. He is a former member and chairman of the CAR Actuarial Committee, Massachusetts Property Insurance Underwriting Association and Center for Industrial Mathematics and Statistics at Worcester Polytechnic Institute. He also served on the board of directors at Premier Insurance Co. of Massachusetts, First Floridian Auto and Home Insurance Company and First Trenton Indemnity Company.
Hospitality Insurance Group is headquartered in Southborough, Mass., and provides commercial insurance coverage to businesses located in Connecticut, Massachusetts, New Hampshire, North Carolina, Pennsylvania, Rhode Island and Vermont via the independent agency system.
The company offers commercial property, general liability, liquor liability and excess policies to owners of establishments that serve or sell liquor, including bars, taverns, restaurants, social clubs and liquor stores, as well as caterers and other qualified businesses.
Source: Hospitality Insurance Group
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