CopperPoint Mutual Insurance Company, a leading workers compensation insurance provider, announced that industry veteran Marc E. Schmittlein has been named the new President and Chief Executive Officer.
Schmittlein will join the company effective June 1, 2016. He will replace President and CEO Donald A. Smith, Jr. who previously announced his plans to retire effective July 1, 2016 after serving as the company’s leader for 16 years. Smith will continue to serve on CopperPoint’s board of directors as an independent director following his retirement to allow for continuity and a seamless transition for the incoming CEO.
Schmittlein brings more than 30 years of commercial insurance experience, most recently with The Travelers Companies as president of its cyber business division and previously as co-president of business insurance. Prior to those roles, he served as president and CEO of the small commercial division known as Select Accounts, a $2.7 billion division of Travelers’ Business Insurance that included workers compensation, business owner’s policy, umbrella coverage and commercial auto. In addition, his career includes leadership roles in commercial divisions of St. Paul Companies and Aetna.
As a part of his leadership tenure at Travelers, Schmittlein was appointed as an EVP in 2010, and placed on the company’s senior leadership team for both Operating and Management Committees.
“I am honored to take on the role of President and CEO of CopperPoint at this pivotal point in the company’s history,” said Schmittlein. “I have devoted my entire career to serving the needs of small commercial clients through independent agents. I look forward to leading CopperPoint in its strategy to become a regional mutual commercial lines insurance company. I’m proud to be joining a company whose employees are known for their commitment to customers and community.”
Smith stated, “It’s been a privilege serving CopperPoint. The employees have worked hard to make the company what it is today, and I am confident that Marc has the depth of experience to lead CopperPoint in its next stage of expansion. In addition, we are pleased to have the continued leadership of Rick Jones our Executive Vice President, Chief Operating Officer and President of Subsidiaries.”
CopperPoint Mutual Insurance Company Chairman of the Board Ken Kirk said, “During Don’s tenure, he has transformed the organization from a quasi-governmental agency to a private mutual insurance company and has strategically positioned the company for expansion. We appreciate all his accomplishments on behalf of the company and look forward to his continued guidance on the board of directors.”
Kirk continued, “The company stands at another crossroads, faced with determining how best to maximize the significant benefits of being a mutual company. Marc’s experience and successful track record in commercial insurance will be invaluable to CopperPoint and our vision to expand into other markets and add commercial lines.”
