The Hartford has launched an energy practice to provide specialized underwriting, insurance coverage and risk management services for energy companies and has poached an executive from rival Zurich Insurance to run the new line.
The Hartford-based insurer said in a statement the new practice is part of the company’s focus on broadening and deepening its commercial insurance expertise and services to serve key industry sectors.
The Hartford has named Ric Pena vice president of its energy practice, reporting to Tom Boudreau, head of construction and energy insurance. Pena joins The Hartford from Zurich, where he served as the U.S. head of its Energy Casualty business unit. He brings more than 25 years of underwriting, sales and national leadership experience to his role.
Pena will lead development of the overall underwriting approach for the energy sector, as well as specific products, services and distribution plans. The initial focus will include businesses involved in the power and utilities industries and expanding its capabilities for renewable energy companies.
