October 27, 2023
Marissa Prestimonico
New York-based vice president, New York construction business leader, Argo Group
New York-based vice president of underwriting, Coaction Global
I’m optimistic about the industry’s future. The New York construction market is set for substantial growth. At Argo, we’re enthusiastic about our plans and I am proud to lead the New York construction team to seize the opportunities ahead.
My primary goal is to lead and nurture the growth of this team while continuing to provide tailored services for New York construction projects, meeting the unique needs of Argo’s clients in this specialized market. New York’s construction industry operates within specific regulations, and the need for tailored insurance coverage, local contacts and expertise is paramount. Many insurers are deterred by the potential liabilities involved. Thus, despite its complexities, Argo’s commitment to this market is crucial and establishes us as a trusted leader.
The New York market has faced numerous challenges. COVID-19 had a significant impact, of course, introducing supply chain disruptions, causing many delays and uncertainties in project timelines. However, one of the most complex challenges we face stems from the unique legal and regulatory landscape in New York. The state’s legal, regulatory and compliance requirements can be intricate and demanding, particularly in the context of construction projects. Specifically, the green construction sector in New York has seen a surge in retroactive regulatory changes and requirements. This requires constant adaptation on the part of all stakeholders from project developers to contractors to insurers. Staying ahead of these evolving mandates is essential to ensure projects remain compliant and adequately insured. This makes it crucial for businesses and contractors to work with insurance providers who have a deep understanding of the New York market, as it demands a high level of adaptability an
I worked as a customer service associate with Coaction Global. Just a few short months later, this experience led me to become an underwriting assistant with the company. These entry-level positions really launched my career in insurance and allowed me to grow and later become the vice president of underwriting.
The insurance industry is constantly evolving and we welcome new talent. It’s a dynamic field that often surprises people with its complexities, and it greatly benefits from the fresh perspectives of young professionals. For newcomers to the insurance industry, my advice is to stay curious and proactive. Don’t hesitate to ask questions and seek guidance from experienced colleagues. Additionally, explore various specialties of insurance to gain a comprehensive understanding of the field. This will make you indispensable.
A doctor.
Psychology
I’m excited to leverage my industry experience, as well as my specialization in this lucrative yet complex market, for the benefit of Argo’s policyholders. I look forward to working with the team to further strengthen the foundation and trust Argo has built in the construction sector in New York. I’m able to leverage my local knowledge and experience to continue to bring clients innovative solutions to address the market’s evolving risks and needs.
Eggplant parmesan
“The Great Gatsby”
Playing tennis and cooking
“The Sopranos”
Long hikes with my dog
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