ACE USA, the U.S.-based retail operating division of the ACE Group, is reorganizing its medical liability group into two operating units, ACE Medical Risk and ACE Life Sciences. These two units will serve the unique insurance and risk management needs of the medical malpractice and life sciences markets.
Caroline Clouser has been promoted to executive vice president and will lead ACE Medical Risk. In this role, Clouser will oversee all underwriting, marketing and operations for ACE USA’s medical facilities, medical program business, managed care and long term care segments.
Lee Farrow, senior vice president, has been appointed to lead the new ACE Life Sciences unit. Farrow will have overall responsibility for the unit’s strategic direction and underwriting activities for biotechnology, specialty pharmaceutical and medical device companies, contract research organizations and human clinical trials.
Both Clouser and Farrow are based in New York City and will report to Ross Bertossi, president, ACE USA Casualty Lines.
Clouser has more than 20 years of insurance industry experience and most recently served as senior vice president and chief underwriting and compliance officer of ACE Medical Risk, where her responsibilities included oversight of underwriting execution for the organization, and profit and loss responsibility for the medical professional liability products, including management of the underwriting team. Clouser joined ACE in 2002 and spent two years working in ACE’s offices in Zurich, Switzerland, leading the effort to build the medical professional and products liability business on a global basis.
Farrow has more than 15 years of experience in the insurance industry, ranging from claims to in-house counsel to underwriting and management. He joined ACE in 2002 as an assistant vice president, charged with launching the Life Sciences business at ACE.
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