Coverys has announced the appointment of Joseph Murphy as chief executive officer and president succeeding Gregg Hanson, CEO who will retire on 31 March 2021.
Murphy will take up his position from 1 April 2021.
Hanson began his career with Coverys in 2000 as chief underwriting officer, bringing underwriting expertise and discipline to the MPL carrier. He was promoted to CEO and President in 2012.
Murphy joined Coverys in 2015 as chief operating officer (COO), overseeing the underwriting, business development and distribution, business analytics and risk management, claims, and Coverys Insurance Services.
Prior to joining the firm, he served as the commissioner of insurance for the Commonwealth of Massachusetts from 2009 to 2014. He has also been an active member of the National Association of Insurance Commissioners (NAIC) and served as chair of the Interstate Insurance Product Regulation Commission.
Dr. Brenda E. Richardson, chair of the Board said: “It has been a pleasure, both personally and professionally, to have worked beside Gregg over the course of my time with Coverys. The Board and I recognize that, under Gregg's leadership, Coverys has grown into the successful international medical professional liability company that it is today. We wish Gregg and his wife, Deb, much happiness in this next phase of their lives.”
“Joe came to Coverys with a wealth of knowledge and experience. He has proven to be a great asset as COO, so this was a natural transition and a long standing part of Coverys’ succession planning process. The Board is confident of our continued success with Joe leading Coverys into the next chapter.”