QBE North America names executives

QBE North America, part of QBE Insurance Group Ltd., has named Toria Lessman as senior vice president, head of transactional liability, and Stacey Meade, senior vice president, head of financial institutions, effective immediately, the insurer said in a statement Monday.

Both are new positions based in Chicago and will report to John Burkhart, head of professional lines and industry verticals, a spokeswoman said in an email.

Ms. Lessman will lead QBE's transactional liability business, the statement said. She joined QBE in 2011 and led its policy regulatory and compliance practice until 2014, when she was promoted and focused on new product development across QBE North America's transactional liability practice.

"As a growing number of corporate investors and private equity firms employ transactional risk insurance, it was important for us to appoint a strong leader for this business with superior expertise and experience," Mr. Burkhart said in the statement.

Ms. Meade will head QBE's financial institutions underwriting strategy and results for all specialty and property and casualty products for financial institution customers, the statement said. She most recently served as vice president, underwriting leader, financial institutions at QBE.

"Stacey has a proven track record of success underwriting the full spectrum of both specialty and property and casualty lines," Mr. Burkhart said in the statement.

Transactional liability coverage addresses issues that could come up during negotiations and due diligence that could prevent the deal from closing, the statement said.