Schmittlein will serve as combined President and CEO / Executive Chair
PHOENIX, July 8, 2024 /PRNewswire/ — CopperPoint Insurance Companies, a western-based super regional commercial insurance company and leading provider of workers’ compensation and commercial insurance solutions, announced today that CEO Marc Schmittlein will succeed Ken Kirk as Chair of the Board of Directors for the company, serving as the combined President and CEO/Executive Chair.
The Board has also elected current member Marita Zuraitis to serve as Lead Independent Director.
Schmittlein, who was elected to the Executive Chair role at the organization’s June Board meeting, joined CopperPoint as CEO in 2016. Since that time, he has overseen organizational transformation taking the company from $255 million in Gross Written Premium and $3.6 billion in total assets in 2016 to $715 million in Gross Written Premium and $5.2 billion in total assets in 2023.
Prior to joining CopperPoint in 2016, Schmittlein spent 30 years in the commercial insurance industry, most recently with The Travelers Companies as president of its cyber business division and previously as co-president of business insurance. Prior to those roles, he served as president and CEO of the small commercial division known as Select Accounts, a $2.7 billion division of Travelers’ Business Insurance that included workers compensation, business owner’s policy, umbrella coverage and commercial auto. In addition, his career includes leadership roles in commercial divisions of St. Paul Companies and Aetna. As a part of his leadership tenure at Travelers, Schmittlein was appointed as an EVP in 2010, and placed on the company’s senior leadership team for both Operating and Management Committees.
“Prior to my term ending, the Board and I discussed the importance of consistency and continuity of the organization’s strategic plans going forward,” said Ken Kirk, former Chair of CopperPoint’s Board of Directors. “To that end, the Board has strong support of Marc Schmittlein as the next Chair of the Board, ensuring the continuation of CopperPoint’s strategy and momentum into the future. We believe that he has truly earned this role. With the talent and expertise present on the Board, the Management Team, and the 800+ employees that drive this organization, the company is in great hands going forward.”
“I am thrilled to continue investing in and realizing CopperPoint’s transformation and growth in this new, expanded role,” said Marc Schmittlein. “We have built a platform that continues to deliver as an industry standout, and I am excited to see the continued momentum and upward trajectory of the company.”
At the annual meeting of its members, CopperPoint members and policyholders also re-elected Monica Digilio and formally elected Thomas Bradley to the Company’s Board of Directors. Each was elected to three-year terms.
About CopperPoint Insurance Companies
Founded in 1925, CopperPoint Insurance Companies, www.copperpoint.com, is a leading provider of workers’ compensation and commercial property and casualty insurance solutions. With an expanded line of insurance products and a growing footprint United States, CopperPoint is positioned to meet the evolving needs of its agents, brokers and customers. It has $5.1 billion in total assets and an enterprise surplus of over $1.5 billion.
CopperPoint Mutual Insurance Holding Company is the corporate parent of CopperPoint Insurance Companies, Pacific Compensation Insurance Company and Alaska National Insurance Company. All companies are rated A (Excellent) by AM Best.
SOURCE CopperPoint Insurance Company
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.