Westminster American Insurance Company announced that, effective 1 January 2015, John Scott, Jr. will assume the role of President & CEO.
Mr. Scott’s appointment is a component of the company’s succession management plan, which was developed by the company’s Board of Directors and current President & CEO Frank Hiser.
As part of the succession plan and after 54 years in the insurance industry, Mr. Hiser will assume the new role of Executive Vice President and continue to lead the company’s Underwriting Department.
John Scott, Jr. has been Westminster American’s Vice President and General Counsel since the company was demutualized in 2005. During his 9 years with the company, Mr. Scott has worked with Mr.
Hiser to lead the insurance company from a small, one state, personal lines carrier, with an A.M. Best rating of B+, to a six state, regional commercial carrier featuring an A- rating. Together, they have achieved some of the best insurance company financial ratios in the commercial property and casualty industry. Prior to joining Westminster American, Mr. Scott held positions with insurance agencies and law firms.
"I’m excited to accept the role as President & CEO of Westminster American Insurance Company," said Mr. Scott. "I look forward to continued success with the best co-workers in the industry. We will maintain smart growth through disciplined underwriting, excellent agency relationships and outstanding claims support."
Originally chartered in 1869, Westminster American Insurance Company provides commercial property and casualty insurance products in Maryland, DC, Pennsylvania, New Jersey, Virginia and Delaware.
Apartments, condominium associations, office buildings, shopping centers and mixed-use properties are covered by BOPs, Package and Umbrella policies.