Erie Insurance Group President and CEO Terrence Cavanaugh is the Property Casualty Insurers Association of America’s new chairman, following elections at the PCI Annual Meeting in Scottsdale, Ariz., on Oct. 28.
If his name sounds familiar, it should. As PCI noted in its announcement, Cavanaugh is a 33-year veteran of the Chubb Group of Insurance Companies. He joined Erie Insurance Group in 2008.
PCI members also elected other new officers to the trade association’s Board of Governors. Jim Wallace, Chairman, President and CEO of GuideOne Insurance, is now the new PCI first vice chair. John Barbagallo, President, Commercial Lines Group of Progressive Insurance Group, was elected as second vice chair.
David Sampson, PCI’s president and CEO, said in a statement that the new Board of Governors will help his organization on projects including a push to reauthorize the Terrorism Risk Insurance Act before it expires on Dec. 31. They’ll also focus on pushing back on initiatives seeking bank-style global regulatory standardization for the insurance industry, he said, among other projects.
“These disruptive forces have profound implications for the property and casualty industry,” Sampson said.