HCC Forms Earthquake Division and Crime Coverage Bond Unit

Houston-based HCC Insurance Holdings Inc. appointed Todd Ruyak and Eric Mihailovich senior vice presidents of the company’s newly formed Professional Indemnity Agency Inc. (PIA) Property Division, reporting to PIA Holdings Inc. Chief Executive Officer Cory L. Moulton. PIA is headquartered in Mount Kisco, N.Y

The new division will focus on difference in conditions (DIC) business, also known as earthquake business, in the Western United States and will write on behalf of both affiliated and non-affiliated carriers, according to HCC President and Chief Operating Officer John N. Molbeck, Jr.

Ruyak and Mihailovich bring more than 20 years of experience in the DIC market, most recently with Arrowhead General Agency. While at Arrowhead they underwrote on behalf of several insurance carriers and maintained direct underwriting responsibility for large blocks of DIC business.

In addition, two senior executives in Fidelity Bonds, also referred to as crime coverage, have joined HCC to establish the company’s Fidelity business unit, which will focus on both financial institution and commercial overages. They are: George Blume, who has been named senior vice president of PIA, and Stephen Buhl, who has been appointed vice president.

Blume began his insurance career in 1981, subsequently working 16 years in executive assignments with American International Group before joining PIA.

Buhl had been with AIG since 2000.

Source: HCC, www.hcc.com

Topics Catastrophe Natural Disasters Fraud