Chubb taps in-house talent to lead surety businesses in North America

Property/casualty insurer Chubb has tapped a nine-year company veteran for the role of chief operating officer (COO) of North America surety.

Teresa Black (pictured) has been appointed executive vice president, COO of North America surety, with responsibility for the underwriting, strategy and profitable growth of commercial and construction surety businesses in North America. Black will continue to report to Stephen Haney, vice president Chubb Group, division president, North America Surety.

Based in New York, Black was previously EVP, commercial surety. She has 25 years of insurance industry experience and joined Chubb, then named ACE, Surety in 2013 as senior vice president and chief operating officer for the US business. She also previously served as senior vice president, distribution management, vice president, national segment leader for New York, and assistant vice president, financial lines.

Chubb is said to be the fifth largest surety underwriter in the US, offering a wide variety of surety products and specialises in underwriting both commercial and contract bonds and has the capacity to issue bonds on a global basis.

"Teresa has been an exceptional leader to our surety team and partner to our clients seeking reliable surety capacity for wide-ranging projects," said John Lupica, vice chairman, Chubb Group, and president, North America Insurance. "In this new role she will have a broader impact in setting the course for the ongoing growth of our North America Surety business."

Stephen Haney, division president, North America Surety, added: "Having worked with Teresa for nearly a decade, I have seen firsthand the pivotal contributions she has made to our organisation, both in building our business and cultivating reliable capacity for our customers, and through strengthening our team with her generous mentoring of up-and-coming talent. I'm excited to see all she will accomplish in this new role."

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