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Hanover Stone Partners LLC said Wednesday it has set up a public entity practice led by longtime former risk management director for the Metropolitan Transportation Authority Laureen Coyne and Pam Davis, former executive assistant general counsel at the New York City Transit Authority.
Ms. Coyne and Ms. Davis will be supported by Hanover Stone’s network of more than 50 senior risk advisers, many with experience in the public sector, and 30 partner firms, the New York-based risk management services firm said in a statement.
“Across the country, public entity risk managers face daunting challenges associated with managing a wider array of increasingly complex risks with unabating pressures on costs and internal resources,” John J. Kelly, founder and CEO, Hanover Stone Partners, said in a statement.
As co-leaders of the new practice, Ms. Coyne and Ms. Davis will contribute to Hanover Stone’s growing number of public entity clients, Mr. Kelly said.
Ms. Coyne joins with more than 25 years of risk management leadership experience in the public sector and was also formerly president of the MTA’s captive insurer, First Mutual Transportation Assurance Co., Hanover Stone said in a statement.
Prior to joining the MTA, Ms. Coyne was director, risk management, claims and safety at Metro-North Railroad for more than 13 years, and most recently served as manager of risk management for Westfield World Trade Center in New York, the firm said.
In her former role at the New York City Transit Authority, Ms. Davis reorganized the authority’s workers compensation division, and prior to that served as managing attorney in the Inspector General’s Office for the New York State Workers’ Compensation Board, Hanover Stone said.
Ms. Coyne and Ms. Davis are based in New York, the firm said.
Hanover Stone Partners L.L.C. has launched a practice offering advisory and other services to captives and their parent organizations.