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HCC Insurance Holdings establishes new construction property risks division

Specialty insurer HCC Insurance Holdings has established a new ‘Construction Property Risks Division’ with an aim to boost its underwriting capability in builder's risk insurance.

Francis P Tricamo, Sr has been appointed to lead the newly established operations, whose headquarters will be in New York.

He has more than 35 years of property insurance and reinsurance experience, including 10 years in loss control.

Additionally, two seasoned construction underwriters, including Gregory Maciorowski in St Louis and Michael Hausmann in Los Angeles, have also been selected to help the company to run smoothly.

HCC chief executive officer Christopher J B Williams said, "As a leader in specialty insurance, establishing a strong underwriting capability in construction property risks is a logical step for HCC."

Headquartered in Houston, Texas, HCC Insurance operates in the US, the UK, Spain and Ireland and had assets of $10.2bn and shareholders’ equity of $3.6bn, as of 31 March 2013.