Newark-based IAT Insurance Group announced Monday it has hired Ken Chapman as executive vice president, surety.
Chapman will be responsible for leading IAT’s new surety business, following the closing of IAT’s acquisition of IFIC Surety Group. He will become part of the company’s leadership team and report directly to Bill Cunningham.
“Ken’s 30 years of surety experience and strong leadership skills make him an excellent choice to head our new surety business unit,” Cunningham said. “The surety sector is an exciting area of growth for us and we are pleased to have someone of Ken’s background to take leadership of that division.”
Chapman joined IAT from Travelers Bond & Specialty Insurance as its vice president and business unit head, financial institutions. Before that, he was regional vice president at Travelers.
“This is an exciting opportunity,” Chapman said. “IAT is a dynamic insurance company with strong financial resources to increase the bonding and T-list capacity of IFIC, and IFIC is a highly regarded surety writer with strong underwriting discipline. I look forward to working with George James (head of commercial surety) and Adrian Oddi (head of contract surety) and their talented teams who have built a solid foundation and strong agent partnerships at IFIC.”
Before Travelers, Chapman held positions as a surety underwriter for Continental Insurance Company/CNA and as branch manager for Insurance Company of the West. He began his career with United States Fidelity & Guaranty.