Acordia Names New Environmental Chief

Chicago-based brokerage Acordia Inc., a subsidiary of Wells Fargo & Co., has named David A. Krause director of environmental insurance.

Under the direction of Acordia’s risk finance group, Krause is responsible for working closely with Acordia and Wells Fargo clients for the placement of pollution legal liability (PLL), cleanup cost cap (CCC), and secured creditor and finite environmental insurance policies involving commercial real estate transactions.

Previously, Krause served as manager of the banking group for the United States and Canada for AIG Environmental. He was responsible for the marketing and sales of secured creditor environmental insurance policies for commercial lenders. He worked closely with commercial and investment banks, conduits, specialty lenders, rating agencies, b-piece buyers and law firms nationwide. He was also responsible for marketing PLL, CCC and finite coverages to the Fortune 1000 nationwide.

Prior to AIG, Krause was a banker for 13 years working in commercial lending, management and business development.