Coverys has announced that Gregg L. Hanson, CEO and president, will retire effective 31 March, 2021.
As part of this planned transition, Hanson will be succeeded in both roles by Joseph G. Murphy, chief operating officer (COO), effective April 1, 2021.
Hanson began his career with Coverys in 2000 as chief underwriting officer, bringing underwriting expertise and discipline to the MPL carrier.
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.
Dr. Brenda E. Richardson, chair of the 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.”
Murphy joined Coverys as COO in 2015 and has since played a “pivotal role” in the execution of Coverys’ 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.
Dr. Richardson added: “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.”