NEW YORK--(BUSINESS WIRE)--Arch Insurance Group, a member of Arch Capital Group Ltd., announces the following:
Arch Insurance Group announced that Shane McCaffrey has been named Senior Vice President and will now head the development of Arch’s Defense Base Act and Foreign Casualty insurance for U.S. based multinationals. Mr. McCaffrey will be based at Arch’s New York City office and will report directly to Rich Stock, Executive Vice President of Arch Insurance Group, who heads Arch’s Construction, National Accounts Casualty and Excess Workers Compensation business units.
Mr. McCaffrey is an accomplished insurance executive with nearly 30 years of Foreign Casualty underwriting experience. For the last 10 years, he has focused on Defense Base Act (DBA) coverages, which are a mandatory line of insurance for corporations that receive contracts from the U.S. government to perform work abroad. He will be tasked with providing firms of all sizes that do work abroad a seamless solution that ties together the DBA product with other related products, claims, and medical evacuation coverage capabilities.
“Shane is a great hire for Arch and the perfect executive to help build out our DBA capabilities. From major contractors with thousands of employees on the ground to small consulting business firms, he knows firsthand the challenges associated with underwriting this line of business. This line is a key component to Arch’s growth strategy and will incorporate other product offerings from the company,” says Mr. Stock.
Mr. McCaffrey joins the organization from Starr Companies. Prior to that he was with American International Group, Inc. where he oversaw a diverse portfolio of contractors working overseas for the American government and focused greatly on claims, cross selling, loss control, and underwriting protocols as it relates to DBA.
“I am thrilled to be joining Arch and leading the DBA efforts for the organization. Overseas work brings with it its own set of unique underwriting and service challenges, and I look forward to having Arch Insurance Group become a leader in offering comprehensive solutions for the care and safety of our customers' employees,” commented Mr. McCaffrey.
Arch Insurance Group Inc. is a member of Arch Capital Group Ltd., a Bermuda-based company that provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries. For more information, visit www.archcapgroup.com./insurance/regions/United-States
Insurance coverage is underwritten by one or more member companies of Arch Insurance Group in North America, which consists of Arch Insurance Company (a MO corporation, NAIC # 11150), Arch Specialty Insurance Company (a NE corporation, NAIC #21199), Arch Excess & Surplus Insurance Company (a NE corporation, NAIC # 10946) and Arch Indemnity Insurance Company (a NE Corporation, NAIC #30830). Executive offices are located at One Liberty Plaza in New York City 10006. Not all insurance coverages or products are available in all jurisdictions. Coverage is subject to actual policy language. This information is intended for use by licensed insurance producers.