Liberty Mutual Alternative Markets Adds Three Execs to Management Team

July 5, 2005

Liberty Mutual Alternative Markets has appointed Chris Ridge as managing director of captive management, Sue Urie as captive management consultant and Eliot Pardee as underwriting manager.

Ridge, Urie and Pardee increase the company’s U.S. captive management operations and its focus on emerging and specialty programs for areas such as contracting, nursing homes and customized warranty products. They will help identify marketplace coverage voids and work to create programs to fill them. All three are based in Liberty Mutual’s captive office in Mt. Pleasant, S.C.

“Some buyers now prefer U.S.-domiciled captives and for carriers to stay competitive they can not afford to remain solely offshore,” said Robert Gaffney, president of Liberty Mutual Alternative Markets.

Increasingly, boards of directors are asking the companies they advise to establish their captives closer to corporate headquarters. Fortunately for captive buyers, U.S. domicile law allows carriers to write business for multiple states from a single location. This means an Arizona-based company can tap into Vermont and South Carolina’s captive marketplace expertise and still meet the board’s directive on location.

For more information contact (843) 375-2020.

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