Meet Jeremy Salzman, Senior Vice President, Head of CML and FI Claims
What is your backstory? Tell us about your path to Sompo International.
I began my career as an attorney at a law firm litigating the defense of General Liability and Employment Practices Liability (EPL) matters. After a few years, an opportunity to help establish a claims team focused on managing EPL claims became the catalyst for my career in the insurance industry. Shortly after starting at The Hartford as a claims counsel, my focus switched to managing Director and Officer (D&O) liability claims and grew from there. In the summer of 2009, I began managing D&O liability claims and transactional risk claims at Arch Insurance, and during my tenure there began managing a team of claims attorneys. Joining Sompo International in the beginning of 2018 not only presented the opportunity to join a growing organization with an excellent market reputation, but also a renewed opportunity to work with Lynn Neville who I previously worked with at Arch. Knowing that Lynn was an executive leader here was especially encouraging in making the decision to join Sompo International.
What is something about your role / BU that people may not know?
What I enjoy most about my role and business unit is how intertwined it is with the economy at large. The mitigation and transfer of risk allows businesses to move forward with their respective endeavors and reading the Wall Street Journal often provides a salient preview of what may come across my business unit’s desks. Our workplace is a dynamic environment driven by EPL litigation, securities class action litigation, merger and acquisition litigation, derivative litigation and regulatory enforcements, both civil and criminal. It’s all incredibly fact-intensive with complex issues and having the opportunity to synthesize puzzles of liability, damages, and coverage into various resolutions is intellectually satisfying.
What do you think makes Sompo International unique?
Sompo International is unique in the way it empowers its employees. Our corporate culture is built on integrity and trust, and it shows in the way we collaborate with our internal and external constituents. Sompo International embraces an integrated model between the claims and underwriting departments that has allowed collaborative and focused decisions to be made for the benefit of our insureds.
What is a trend you feel is impacting the industry at the moment?
As to a trend impacting the industry currently, certainly the ongoing Covid-19 pandemic and financial fallout therefrom will continue to resonate. D&O liability, event-driven litigation, derivative litigation, Special Purpose Acquisition Company (SPAC)-related litigation, and a focus on corporate board diversity, as well as social and environmental activism, may manifest as well. Moreover, securities litigation will likely track to historical averages as well, especially if there are any market corrections during 2021.
Any advice to your younger self?
As for advice to my younger self – travel as much and as often as possible and learn to speak a language. Studying Latin to ostensibly improve vocabulary pales in comparison to having a conversation with a stranger in a foreign land.
What do you do when you’re not working?
When I’m not working, I enjoy playing tennis and squash, reading, traveling, all things food (cooking and enjoying restaurants) and spending time with my family.