XL Capital Ltd. announced that Rich Banas has been given executive management responsibility for XL’s professional liability operations in the U.S, and has also been named global practice leader for similar operations worldwide.
“In this new role, Mr. Banas will have responsibility in the U.S. for XL’s three professional liability operations,” said the bulletin. These are the Hartford-based unit focused primarily on directors and officers liability products, known as XL Professional, managed locally by Mr. Anthony Giacco; the NY-based unit responsible for targeted professional liability products for small and mid-size customers, known as XL Select Professional, managed by Ms. Reina Gregorio; and the architects and engineers professional liability operation, XL Design Professional, led by Mr. John Glancy.
Nicholas M. Brown Jr., CEO of XL’s Insurance Operations, commented: “Rich Banas has been an extremely valuable leader for XL, providing strong management to several of our U.S. businesses, and successfully expanding our professional liability operations with the addition of XL Select Professional and XL Design Professional. Going forward, Rich will focus all of his time on the leadership of XL’s professional liability lines, consistent with our strategy of global product alignment. As global practice leader for XL’s professional liability operations, Rich will be in a position to set overall goals and objectives to ensure product line consistency, best practices and appropriate management oversight among the various professional liability underwriting units. We are very fortunate that someone with Rich’s management experience and skill can assume this critical role for XL’s insurance operations.”
The announcement noted that “as a result of this change in management structure, XL’s environmental operations, led by Mr. Rich Corbett, program operations led by Mr. Dave Duclos, and surety operations led by Mr. Daryl LaForge will report directly to Mr. Brown.”
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