May 31, 2012

Mike McGavick, CEO of XL, on Innovation

The Innovation Insurance Group praises Mr. McGavick for his comments on the importance of innovation in today’s insurance industry.

Innovation is the only solution to solving [today’s] difficult economic environment

Mike, we couldn’t have said it any better!

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Mike McGavick has been Chief Executive Officer of XL Group plc (XL) since 2008.

As CEO, Mike has focused on building XL’s position as the premier company providing solutions to complex risks.

From 2001 to 2005, Mike was Chairman, President and CEO of Safeco Corporation and was named the Puget Sound Business Journal's Executive of the Year in 2003. Before joining Safeco, Mike spent six years with CNA Financial Corporation, where he held various senior positions, including President and CEO of the company's largest commercial insurance unit.

Ty Sagalow's unique background in legal, underwriting, policy drafting and claims – and his designation as a “qualified insurance expert” by the United States District Court for the Southern District of California – offers attorneys an unparalleled resource in D&O, E&O and Cyber insurance coverage disputes. He was also named "Most Helpful Expert" in a recent $8.7M coverage decision.

Mr. Sagalow served as Chief Underwriting Officer and General Counsel for AIG Executive Liability (formerly National Union Fire Insurance Company of Pittsburgh, PA), the world’s largest carrier of Directors and Officers Liability and Professional Liability Insurance. As General Counsel, Mr. Sagalow personally wrote or led teams that wrote all the D&O policies and many of the professional liability policies that AIG produced between 1988 and 2000 – policies which continue to serve as the foundational wording for the D&O and professional liability policies in the market today. As AIG Executive Liability’s Chief Underwriting Officer, Mr. Sagalow was charged with all underwriting interpretations and decisions for AIG D&O/E&O policies. In 2009, Mr. Sagalow headed up the team that rewrote all D&O policies for Zurich North America.

Ty is a cum laude graduate of Georgetown University Law Center and holds a LLM from New York University School of Law.

Innovation Insurance Group is an insurance consulting firm and insurance brokerage founded by 30-year insurance executive, Ty R. Sagalow, former Chief Underwriting Officer, General Counsel and Chief Innovation Officer at AIG, and former Chief Innovation Officer at Zurich, NA and Tower Group. IIG focuses on three core practice groups: product development, expert witness services (primarily in the Management and Professional Liability areas), and bitcoin industry brokerage services.

Learn more about Ty R. Sagalow
Learn more about Innovation Insurance Group
Learn more about InsurTech Consulting
Learn more about Bitcoin Insurance Agency

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Mike McGavick, CEO of XL, on Innovation

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