Seneca Insurance Companies has established a new product line and operating division offering contract and commercial surety.
Contract surety will focus on the small and emerging construction, supply, furnish & install, and service type contract accounts.
Commercial surety, which is expected to be operational in 2012, will focus on traditional transactional, small account and program business.
The insurer has named Ken Ryan as the surety division’s vice president and Mike Sheelen as manager of contract surety, Maria Impallomeni as underwriting administrator.
Seneca president and CEO Gary Dubois said that Seneca has a long and successful history of providing specialized product underwriting with an emphasis on smaller to middle market commercial accounts. We’re extremely excited to bring someone of Ken Ryan ‘s caliber and experience on board to continue this tradition.
Seneca is licensed with the US Treasury Department to write surety in all 50 states.