hubb has appointed Teresa Black Executive Vice President, Chief Operating Officer of North America Surety. In this new role, Ms. Black will have responsibility for the underwriting, strategy and profitable growth of Commercial and Construction Surety businesses in North America. Ms. Black will continue to report to Stephen Haney, Vice President Chubb Group, Division President, North America Surety.
"Teresa has been an exceptional leader to our surety team and partner to our clients seeking reliable surety capacity for wide-ranging projects," said John Lupica, Vice Chairman, Chubb Group, and President, North America Insurance. "In this new role she will have a broader impact in setting the course for the ongoing growth of our North America Surety business."
"Having worked with Teresa for nearly a decade, I have seen firsthand the pivotal contributions she has made to our organization, both in building our business and cultivating reliable capacity for our customers, and through strengthening our team with her generous mentoring of up-and-coming talent," said Stephen Haney, Division President, North America Surety. "I'm excited to see all she will accomplish in this new role."
Based in New York, Ms. Black was previously Executive Vice President, Commercial Surety. She has 25 years of insurance industry experience and joined Chubb, then named ACE, Surety in 2013 as Senior Vice President and Chief Operating Officer for the U.S. business. She also previously served as Senior Vice President, Distribution Management, Vice President, National Segment Leader for New York, and Assistant Vice President, Financial Lines. Ms. Black is a member of the Board of Directors of the Spencer Educational Foundation. She received a Bachelor of Arts degree in Economics from Binghamton University and an MBA in Finance from the Leonard N. Stern School of Business at New York University.
Chubb is the fifth largest surety underwriter in the U.S., representing more than 70 of the Engineering News Record top 400 contractors. The business offers a wide variety of surety products and specializes in underwriting both commercial and contract bonds and has the capacity to issue bonds on a global basis.