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HARTFORD, Conn.-Industrial Risk Insurers is expanding its management ranks to make the highly protected risk insurer more appealing to large policyholders.
With the creation of the new positions of chief operating officer and chief financial officer, the Hartford, Conn.-based HPR insurance pool will be better equipped to attract new policyholders, said Gail P. Norstrom, president and chief executive officer of IRI.
"We decided to specialize in larger, sophisticated insureds, so we have expanded our senior management in terms of competencies, skills and experience," Mr. Norstrom said.
The COO and executive vp is Kerras W. Campbell, previously a senior vp at Allendale Mutual Insurance Co.
The CFO and senior vp is James F. Casey, previously vp of corporate development at Hartford Steam Boiler Inspection & Insurance Co.
IRI has been altering the makeup of its business since 1994, when it posted a net loss of $163.3 million. The strategy of writing fewer but better risks paid off in 1996, when IRI made an $11 million profit (BI, Jan. 13).