Seneca Insurance Companies has launched a new product line and operating division for contract and commercial surety.
The contract surety side will focus on small and emerging construction, supply, furnish and installation and service-type contract accounts.
Commercial surety will target traditional transactional, small account and program business. It should be operational in 2012.
Seneca is licensed in all 50 states. The surety division will be headquartered in Morristown, N.J. As a carrier, Seneca has traditionally focused on small and middle market accounts.
The new surety division will be managed by Ken Ryan, who joins Seneca as a vice president. He has 33 years of surety experience and has worked with Seaboard Surety/St. Paul, Zurich/Converium Re, Markel and Argo.
Mike Sheelen and Maria Impallomeni will also join Seneca with the launch of the surety division. Sheelen will manage contract surety. He previously worked at Argo, Hartford and Chubb. Impallomeni will be the underwriting administrator. She has experience at Seaboard Surety/St. Paul, Aon, Chubb and Liberty/Safeco.
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