Tag Archives: Robert Courtemanche

Business, Finance, Occupation & Industry

ACE Appoints Robert Courtemanche as Chairman of its ACE Private Risk Services Division, Mary Boyd as

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By Business Wirevia The Motley Fool

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ACE Appoints Robert Courtemanche as Chairman of its ACE Private Risk Services Division, Mary Boyd as Division President

PHILADELPHIA–(BUSINESS WIRE)– The ACE Group today announced key leadership appointments in the company’s high-net-worth personal insurance business. Robert Courtemanche has been appointed as Chairman of ACE Private Risk Services, and Mary Boyd as Division President of ACE Private Risk Services.

Mr. Courtemanche joined ACE in 2008 as Division President of ACE Private Risk Services. Ms. Boyd joined in 2010 as Senior Vice President and Chief Administrative Officer of the Division. She was appointed Chief Operating Officer in January 2012.

In his new role as Chairman, Mr. Courtemanche will focus primarily on long-term strategic issues and external relationships for ACE Private Risk Services. As Division President, Ms. Boyd will manage the day-to-day running of ACE Private Risk Services’ operations, including developing and executing near and long-term strategic plans.

“Bob and Mary have been instrumental in the success of ACE Private Risk Services, a division that in only five years has become a significant and respected insurer for high net worth families, including some of the wealthiest in the country,” said Juan Andrade, Chief Operating Officer, ACE Overseas General, and President, ACE Global Personal and Small Commercial Insurance. “They are experienced and dynamic leaders, who are well prepared to drive ACE Private Risk Services in the next stage of its growth.”

Mr. Courtemanche brings more than 30 years of personal lines insurance industry experience to his new role. Prior to joining ACE, Mr. Courtemanche served as President of the Fireman’s Fund’s Personal Insurance business. He previously served as Senior Vice President of American International Group’s (AIG) Private Client Group, and has held several key management positions at Chubb & Son, Inc.

Ms. Boyd brings nearly 20 years of experience in the insurance industry to her new role. Prior to joining ACE, Ms. Boyd served as Senior Vice President, Managing Director at Insurance Company of the West / Explorer Insurance Company from 2006 to 2010. She also has held various positions at Chubb & Son, Inc., including Vice President of Predictive Analytics as well as actuarial and program management roles from 1994 to 2006.

About ACE Private Risk Services

ACE Private Risk Services is the ACE Group’s high-net-worth personal insurance business, which provides specialty coverage for homeowners, automobile, recreational marine, umbrella liability and valuable collections …read more
Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Wealthy Individuals and Families Frequently Overpay to be Underinsured, ACE Private Risk Services Su

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By Business Wirevia The Motley Fool

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Wealthy Individuals and Families Frequently Overpay to be Underinsured, ACE Private Risk Services Survey Finds

Survey of 600 independent agents finds most high net worth families insured by mass-market carriers remain vulnerable to severe financial loss and overlook discounts

Problem has worsened since 2010; largest gaps in coverage for liability and major assets such as homes and valuable collections

PHILADELPHIA–(BUSINESS WIRE)– Most wealthy individuals and families who insure their assets with carriers geared primarily for the average U.S. household overpay for coverage that leaves their wealth unnecessarily exposed to the risk of severe financial loss, according to an ACE survey of independent insurance agents. High net worth (HNW) families often do not carry enough liability coverage in a variety of forms. Too often, their homes and collections of jewelry, art, wine and other precious items are not adequately protected. Meanwhile, these families also overlook many savings opportunities, such as higher deductibles and package discounts. By taking advantage of these savings opportunities and strengthening coverage against severe loss, HNW families can often achieve more effective protection without a significant increase in premiums.

These findings are presented in a new whitepaper released today by ACE Private Risk Services, the high net worth personal insurance business of the ACE Group. The study, Wealth at Risk: How High Net Worth Families Overpay to Be Underinsured, surveyed more than 600 independent insurance agents and brokers about their new HNW clients previously insured by a mass-market carrier. The full research whitepaper can be found here. The study includes comparisons to 2010, when a similar survey was conducted, and shows that the problem of overpaying and underinsuring has worsened.

“Financially successful families and individuals often fail to adjust their personal insurance programs as they build wealth,” said Robert Courtemanche, Division President, ACE Private Risk Services. “Unless they have a severe loss, they never realize their agent and carrier no longer have the expertise, insurance coverages, and services to fully meet their needs. But by then, it’s too late. Ironically, if they had looked for an agent and carrier better suited to their current level of achievement and lifestyle, they probably wouldn’t have had to pay much more for better protection. In many cases, they could have paid less.”

Compared to 2010, more agents reported that families insured by mass-market carriers …read more
Source: FULL ARTICLE at DailyFinance