ACE USA, the US-based retail operating division of the ACE Group, has restructured its medical liability group into two operating units namely ACE Medical Risk and ACE Life Sciences.
These two units will serve the insurance and risk management needs of the medical malpractice and life sciences markets.
Caroline Clouser has been promoted to executive vice president and he will lead ACE Medical Risk.
In this role, Clouser will oversee all underwriting, marketing and operations for ACE USA’s medical facilities, medical program business, managed care and long term care segments.
Clouser has over 20 years of insurance industry experience and most recently served as senior vice president and chief underwriting and compliance officer of ACE Medical Risk. She joined ACE in 2002.
Lee Farrow, senior vice president, has been appointed to lead the new ACE Life Sciences unit.
Farrow will have overall responsibility for the unit’s strategic direction and underwriting activities for biotechnology, specialty pharmaceutical and medical device companies, contract research organizations and human clinical trials.
Farrow has more than 15 years of experience in the insurance industry, and joined ACE in 2002.
Both, Clouser and Farrow will be based in New York City and will report to president of ACE USA Casualty Lines Ross Bertossi.
ACE USA chief operating officer, Insurance-North America and president John Lupica said this strategic alignment is a reflection of strong commitment to the medical malpractice and life science markets.