PARSIPPANY, NJ, February 21, 2018 – Innovative Coverage Concepts, LLC (ICC), a premier, national wholesale broker and managing general agency (MGA), today announced it has appointed Richard P. Rooney as a Commercial Property Specialist.
Mr. Rooney has 35 years of experience in all areas of commercial property insurance and reinsurance underwriting, brokerage, and administration. He reports to Steven Gross, President of ICC’s wholesale division and will be responsible for new program development, as well as for commercial property underwriting and brokerage.
“After multiple years of a relatively competitive environment, the U.S. commercial property insurance market is evolving after record losses in 2017 from the hurricanes, wildfires and floods affecting various parts of the country,” said Mr. Gross. “Drawing on his vast experience, Richard knows how to navigate changing insurance market conditions. We’re thrilled to have him as a member of our team and look forward to the expertise he brings to our relationships with agencies, brokerages and underwriting partners as we collaborate to develop new solutions to increasingly difficult commercial property risks.”
Previously, Mr. Rooney was lead Property Package Underwriter with Dual Commercial, an MGA.
Earlier, he was with Endurance (now Sompo International), where he also served as a Lead Underwriter on the company’s Property and Package business. During his career, he has held management positions in property and inland marine insurance with a number of different insurers, including ProSight Specialty Insurance, Allianz Global, Harleysville Insurance Company, AIG, Chubb, and Argonaut, among others.
A graduate of St. Francis College, he also completed courses in insurance at The College of Insurance (now part of St. John’s University), management at the University of Michigan, and property underwriting at SITC in Switzerland. Active in the New York Mariners Club, where he is a former skipper and board member, Mr. Rooney also has been a member of several committees and served on the board of the Inland Marine Underwriters Association (IMUA).
Innovative Coverage Concepts, LLC (ICC) is a premier, national wholesale broker and managing general agency (MGA) focused on developing and delivering specialized insurance programs and products for the hospitality industry and a growing number of other industry sectors. ICC is distinguished by its custom risk management solutions and innovative processes and technologies developed to assist clients in reducing risk, controlling claims costs, and streamlining business processes. To learn more about ICC program capabilities visit www.innocov.com.