MORRISTOWN, N.J., Feb. 4, 2014 /PRNewswire/ — Crum & Forster ("C&F"), announced that Marc Adee has assumed the position of Chief Executive Officer of First Mercury Financial Corporation ("FMFC") and CoverX Corporation ("CoverX"), reporting to Doug Libby, Chairman and Chief Executive Officer. FMFC and CoverX are operating units of the Crum & Forster Enterprise and provide their services through First Mercury Insurance Company – a full service specialty liability insurer – and CoverXSpecialty – a producer with expertise in specialty lines, such as security, construction, and excess/umbrella. Crum & Forster Enterprise is part of Fairfax Financial Holdings.
In addition to his new responsibilities, Marc continues as president of Fairmont Specialty, an operating unit of the Crum & Forster Enterprise that offers a wide variety of products, such as specialty property & casualty coverage, accident & health programs, commercial and personal lines in the State of Hawaii, and bail sureties.
After nearly 20 years of dedicated service as Chief Executive Officer of First Mercury, Richard Smith has decided to retire from the company. During his tenure, he grew First Mercury organically as well as through acquisitions of Emerald, AMC, and Valiant. In 2011, Crum and Forster acquired First Mercury and Richard led the integration of Crum & Forster Specialty and First Mercury into the current Cover X organization. His colleagues at C&F and First Mercury wish Richard well and thank him for his many contributions.
Reporting to Marc Adee will be Tom Bredahl, who recently joined First Mercury Insurance Company as Chief Underwriting Officer. He will operate out of the company's New York office. Tom joined the firm from Odyssey Re, a sister company within the Fairfax organization, where he was head of facultative reinsurance focusing on U.S. casualty risks, including general liability, automobile, umbrella, healthcare, and other emerging lines.
Doug Libby commented, "For the past decade, Crum & Forster has expanded its specialty practice. With Marc overseeing both First Mercury and Fairmont Specialty, we are applying proven leadership to an ever-increasing portion of our business. We are also delighted that Tom has joined us from Odyssey Re. It is extremely beneficial to have the resources of Fairfax available as we grow our business."
Contact: Nathan Sambul, +1-973-490-6777
Crum & Forster Enterprise, which is part of Fairfax Financial Holdings Limited, is comprised of leading and well-established property and casualty business units. The insurance companies within the Enterprise, rated A (Excellent) by A.M. Best Company, are: United States Fire Insurance Company, The North River Insurance Company, Crum and Forster Insurance Company, Crum & Forster Indemnity Company, Crum & Forster Specialty Insurance Company, Seneca Insurance Company, Inc., Seneca Specialty Insurance Company, First Mercury Insurance Company, and American Underwriters Insurance Company. For more information, visit www.cfins.com.