IAT Insurance Group, a provider of specialty property and casualty products, is expanding its product offerings with the formation of a new Management Liability business unit. The company has hired John Passaro to lead the unit.
Passaro brings to the role more than 28 years of experience in the insurance industry, including extensive experience with management and professional lines. He will join IAT on October 17, and over the next 12 months, he will work to build a team and infrastructure to support the new unit.
The unit will focus on developing a comprehensive suite of management liability products that provide protection for officers and directors who can become personally liable for issues such as theft of intellectual property, misrepresentation and workplace law compliance.
Passaro joins IAT from Travelers Insurance, where he gained management liability experience starting off as an underwriter and moving into various leadership roles in management liability underwriting, as well as other senior leadership positions. Most recently at Travelers, Passaro served as president of the NY/ NJ Downstate Region and vice president of Enterprise Distribution.
Previous to his 10 years at Travelers, his career spanned senior management roles at C.N.A., FirstCity Partnership, Arthur J. Gallagher, and Royal & Sun Alliance. Passaro started his insurance career at AIG.
Passaro will join IAT’s Management Committee and work out of the company’s office in Newark, N.J.
Source: IAT Insurance Group
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