Coverys unveils new CEO and president as Hanson steps down
Medical professional liability insurance provider Coverys has revealed that its chief operating officer (COO) Joseph Murphy will take over from current chief executive officer (CEO) and president Gregg Hanson with effect from April 1.
Hanson is set to retire from the company at the end of March.
After 25 years in the industry, Hanson began his career with Coverys in 2000 as chief underwriting officer; he was promoted to CEO and president in 2012. During his nearly 10 year term as CEO and president, Hanson led Coverys in a transformation from a regional MPL carrier to a global MPL writer with innovative products and services to protect and safeguard healthcare providers.
Murphy joined Coverys as COO in 2015 and is said to have played a pivotal role in the execution of the company's long-term strategic plan. Concurrently, he has overseen underwriting, business development and distribution, business analytics and risk management, claims, and Coverys Insurance Services.
Prior to joining Coverys, Murphy served as the Commissioner of Insurance for the Commonwealth of Massachusetts from 2009 to 2014. Additionally, he was an active member of the National Association of Insurance Commissioners (NAIC) and served as chair of the Interstate Insurance Product Regulation Commission, and as a member of the Executive Committee, Property and Casualty Insurance Committee, Reinsurance Task Force, Surplus Lines Task Force and Workers’ Compensation Task Force, among others.
Brenda Richardson, chair of Coverys board, said: “It has been a pleasure, both personally and professionally, to have worked beside Gregg over the course of my time with Coverys. The Board and I recognise that under Gregg's leadership Coverys has grown into the successful international medical professional liability company that it is today. We wish Gregg and his wife, Deb, much happiness in this next phase of their lives.
“Joe came to Coverys with a wealth of knowledge and experience. He has proven to be a great asset as COO, so this was a natural transition and a long standing part of Coverys’ succession planning process. The Board is confident of our continued success with Joe leading Coverys into the next chapter.”
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