AXIS Capital Holdings announced that AXIS Healthcare—the division of AXIS Insurance that provides professional liability insurance and associated standard casualty coverages for physician groups, hospitals and allied healthcare facilities—has entered the nursing home professional liability market by bringing on board two underwriters who have significant experience in senior aging services.
Dave Stoner, previously a Vice President at Rockhill Insurance Group, has 27 years of aging services professional liability underwriting experience. Jason Correll, previously an Assistant Vice President at Rockhill, has 14 years of experience in that area.
Commenting on the announcement, Peter Wilson, President of AXIS Insurance’s U.S. operations, said, "This move marks AXIS Healthcare’s entry into the aging services market, which we have long identified as a promising and growing segment for specialty insurers. The long-term demographics of an aging population indicate that this should be a growth business as the demand for assisted living and nursing care increases."
Kimber Lantry, Head of AXIS Healthcare, added, "Given the strong demographic trends driving long-term growth in aging services and nursing home care, we have great confidence both in the scale of the opportunity and in the actuarial, claims, and underwriting expertise AXIS Healthcare will bring to serving clients and brokers in this area.
"As part of the anticipated transition from Rockhill, we are very pleased to welcome two additional highly experienced underwriters, Dave and Jason, to our team."
Dave Stoner graduated with a B.S. degree in public administration from Shippensburg University in Pennsylvania in 1989, and holds his CPCU, ARM, AU and RPLU designations.
Dave began his insurance career as an underwriter with Chubb Executive Risk in 2000, worked as a wholesale broker for a year (in 2003), and then returned to the underwriting side, spending five years as director of underwriting for LTC Risk Management, a risk purchasing group program, before joining American Safety Indemnity Company as a part of their acquisition of LTC Risk Management in 2008.
Jason Correll graduated with a B.S. degree in business management from Ball State University in Muncie, Indiana in 2003. Jason began working with LTC Risk Management in 2002 as a nursing home professional liability underwriter. He joined American Safety Insurance in 2008 when ASI acquired LTC. In 2012, he moved to Rockhill, also underwriting nursing homes.