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NEW YORK, December 13th, 2017 -
Hanover Stone Partners, a risk management services firm with expertise in a broad range of critical risk disciplines,
today announced the appointment of Michael T. Scott and Philip J. Stevens as senior risk advisors.
The two executives, who add to the firm's depth of talent in captive insurance, join the leadership team of Hanover Stone Partners Captive
Guard
SM
, the firm's specialty practice providing governance and related advisory services for captive insurance companies and their parent organizations.
"Although the commercial insurance market has been relatively stable for several years, the spate of natural disasters in the U.S. and other parts of the world this year has prompted some risk managers to look more closely at the roles of captive insurers in their overall insurance program," said John J. Kelly, founder and CEO, Hanover Stone Partners. "To help with their evaluations, we are continuing to expand the capabilities of our specialty practice focusing on captive governance and performance. Michael and Phil bring deep expertise in captive insurance and we are pleased to welcome them to our team."
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An attorney, Michael Scott brings more than two decades of leadership experience in risk management and insurance, including extensive work with captives. Previously, he was vice president, Insurance & Risk Management at Archer Daniels Midland Company (ADM) and president and general counsel of Agrinational Insurance Company, ADM's captive. During his tenure, Agrinational become one of the first captives to receive U.S. Department of Labor approval to reinsure employee benefits.
Earlier, Mr. Scott was a corporate attorney for State Farm Insurance Companies. He is a graduate of the University of Illinois and of Southern Illinois University Law School.
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Philip Stevens has devoted nearly three decades of his 40-year insurance career on captive insurance company formation, reinsurance and captive management. He concurrently leads Rowayton Risk Consulting, a firm he founded in 2013 that provides a wide range of captive advisory services.
Previously, he was managing director of Marketing and Client Services for Amplitude Reinsurance Company of Delaware, LLC, a captive cell facility. Earlier, he was with AIG Insurance Management Services as vice president of the captive management group, and prior to that was with Aon where he managed the firm's rent-a-captive operations in Bermuda and Cayman, among other captive responsibilities. He earned a B.A. degree in English from Denison University and holds the ARM designation.
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About Hanover Stone Partners
Hanover Stone Partners is the first network of recognized and accomplished risk management advisors and specialized risk management services firms. The firm assembles multi-disciplinary, cross-industry teams that work collaboratively to help clients identify, analyze, manage and finance enterprise risks. This comprehensive approach offers clients the advantage of superior risk management advice and risk management services, delivered more economically. Hanover Stone Partners evaluates existing risk programs, guides enterprise risk management initiatives, implements new strategies, and provides unbundled services that help clients reduce the total cost and volatility of risk, protect earnings, and preserve liquidity for their enterprises.
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© 2017 Hanover Stone Partners, LLC
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