Boston, MA – The Property Casualty Insurers Association of America (PCI) elected new officers to its Board of Governors today during the association’s Annual Meeting. Robert P. Restrepo, Jr., Chairman and CEO of State Auto Insurance Companies, was elected as PCI’s chair; Terrence W. Cavanaugh, President and CEO of Erie Insurance Group, was elected first vice chair; and Jim Wallace, Chairman, President and CEO of GuideOne Insurance was elected second vice chair.
“In every state capital, in Washington, D.C., and even overseas, property casualty insurers face regulatory overreach, shifting dynamics as a result of recent major natural disasters, uncertainty about the future of the Terrorism Risk Insurance Act, as well as a fragile economic recovery and political volatility,” said David A. Sampson, President and CEO of PCI. “But PCI is fortunate to draw upon the experience and expertise of our newly elected board leadership as we work to prevail over current and emerging threats to a healthy, competitive private insurance market.”
PCI’s New Board Officers:
Robert P. Restrepo, Jr.
Chairman and CEO
State Auto Insurance Companies
Bob Restrepo was appointed chairman and CEO of the State Auto Insurance Companies in February 2006, and president in March 2006. He has a broad and deep background in the property casualty insurance industry, encompassing both national and regional companies. His varied experience includes senior executive roles at Aetna, Travelers, Hanover, and most recently the Main Street America Group in Jacksonville, Florida. A graduate of Yale University, Restrepo also serves on a number of industry and community boards including the Property Casualty Insurers Association of America (PCI), Insurance Information Institute (III), the Columbus Partnership, the Columbus (Ohio) Chamber of Commerce, the Columbus College of Art Design (CCAD), the Columbus Downtown Development Corporation, Nuclear Electric Insurance Limited (NEIL), BroadStreet Capital, and the United Way of Central Ohio.
Terrence W. Cavanaugh – PCI First Chair
President and CEO
Erie Insurance Group
Terrence W. Cavanaugh serves as president and CEO of Erie Insurance Group. He joined Erie in 2008 after a distinguished 33-year career with the Chubb Group of Insurance Companies. He began his insurance carrier as an underwriter in 1975 after graduating from the University of Notre Dame. Cavanaugh currently serves on the Board of Governors of the Property Casualty Insurers Association of America (PCI). In addition, to PCI, he is on the board of the American Institute for CPCU and Insurance Institute of America.
Jim Wallace – PCI Second Chair
Chairman, President and CEO
Jim Wallace is chairman, president, and CEO of GuideOne Insurance. Wallace joined the company in 2001. Previously, he was the president and CEO of National Travelers Life Company, Partner in charge of insurance services for the eastern half of the U.S. for Ernst & Young. Wallace is Chairman of the Greater Des Moines Partnership. He currently serves on numerous industry and community boards, including the Des Moines Art Center, the YMCA of Greater Des Moines, The Property Casualty Insurers Association of America (PCI), the Independent Statistical Service Board, the Greater Des Moines Committee, the Drake University Business School Advisory Committee, and the Drake University Actuarial School Advisory Committee. Wallace is a graduate of Drake University.