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William E. Donnell has been named president and CEO of the National Council on Compensation Insurance Inc., the workers compensation ratings and research organization said Friday.
Mr. Donnell currently is president of U.S. property/casualty reinsurance at Swiss Re America Holding Corp. in Armonk, New York, and will assume the top post at Boca Raton, Florida-based NCCI on Dec. 7, the agency said in a statement.
“NCCI is an icon within the insurance industry,” Mr. Donnell said in a statement. “Over time, it has built a reputation for unparalleled quality and integrity while providing the foundation for the workers compensation line nationwide. I look forward to working with the NCCI team to build on this record of success.”
Mr. Donnell will succeed NCCI President and CEO Stephen J. Klingel, who is set to retire in February. NCCI said in its statement that the overlap in Mssrs. Donnell and Klingel's tenures “will provide a smooth transition for the industry and stakeholders.”
“While it has been my honor to lead this organization for the past 13 years, I believe Bill is the right person at the right time to take the helm of NCCI, and I look forward to making this a smooth transition,” Mr. Klingel said in the statement.
In a recent interview, Stephen J. Klingel looked back at his 13 years at NCCI and future issues the industry faces.
ORLANDO, Fla. — The U.S. workers compensation market is stable as premiums continue to grow, but rising average claims cost and continued weakness in manufacturing and construction hiring could cause problems for the sector, experts say.