ISO Realigns Senior Management to Advance Strategies for Future

NEW YORK, Feb. 1, 2000 – Insurance Services Office, Inc. (ISO) has named two new senior officers and realigned parts of its senior-management structure to advance the company's strategies and focus dedicated resources on new initiatives.

Effective today:

  • Kenneth G. Geraghty has joined ISO as executive vice president and chief financial officer. Geraghty joined ISO from Dycom Industries, Inc., a publicly traded telecommunications contractor with annual revenues of $500 million, where he was executive vice president – finance and administration. He will lead ISO's Finance Department and assume responsibility for strategic planning and product licensing.
  • John H. McCue has joined ISO as senior vice president – sales and marketing from American International Group (AIG), where he was senior vice president responsible for developing and marketing new products and services for North America and Japan. McCue will be responsible for sales and marketing functions, including the development of new products and services.
  • Carole J. Banfield has become executive vice president – government relations and data management. In addition to her duties as head of ISO's Information Services business unit, she has assumed responsibility for government relations from Mavis A. Walters, executive vice president – government relations, who plans to retire.
  • LeRoy A. Boison Jr. has been named senior vice president – international, a new position. Boison will lead ISO's expanded effort with resources dedicated to building ISO's international business.

Geraghty reports to Chairman and Chief Executive Officer Fred R. Marcon and to President and Chief Operating Officer Frank J. Coyne. McCue, Banfield, and Boison report to Coyne.

Geraghty, before joining Dycom Industries last year, served as senior vice president – strategic finance of Mass Mutual Life Insurance Co. since 1997. Earlier, he served for 16 years at American Express Co. and its subsidiaries, first as corporate director – strategic planning; then as corporate vice president – mergers and acquisitions; as senior vice president of The Boston Co., an asset-management subsidiary; as executive director of American Express Bank; and most recently as corporate vice president – change management.

Geraghty received his bachelor's degree in chemical engineering from Columbia University, his master's degree in chemical engineering from the University of California at Berkeley, and his master's degree in business administration from Harvard University.

McCue, before assuming his most recent position with AIG, served since 1996 as senior executive for the company's eastern zone, managing 1,100 people and $4 billion in premium. He began his career in 1968 as a commercial lines underwriter with Kemper Insurance Co., then moved to AIG, where he spent a dozen years in various positions, including vice president and regional manager for specialty lines in the northeast. He joined The Home Insurance Co. in a similar capacity in 1983 and, in 1987, became The Home's executive vice president and chairman of its worldwide underwriting committee. McCue returned to AIG in 1993 as vice president of the American Home Assurance Co. and became AIG's regional vice president for the New York region a year later.

McCue received his bachelor's degree in English from Westfield College, Westfield, Mass., and attended Suffolk University Law School in Boston.

Banfield began her career at earlier rating bureaus, joined ISO at its formation in 1971, served in ISO's homeowners and personal lines actuarial units, and later moved to government and industry relations. She became vice president – government and industry relations in 1979, senior vice president – government and industry relations in 1988, and executive vice president in 1996.

Banfield received her bachelor's degree in mathematics from Fordham University.

Boison joined ISO in 1971 and served in a series of increasingly responsible management positions in personal lines actuarial and actuarial development. He became vice president and actuary – actuarial operations in 1987, vice president – commercial casualty in 1992, and senior vice president in 1996.

Boison is a fellow of the Casualty Actuarial Society. He also received his bachelor's degree in mathematics from Fordham University.

Walters has been executive vice president since 1988 and the head of ISO's Washington office since she, as an assistant vice president, opened it in 1975. Most recently her responsibilities have included government relations at the state as well as the federal level. She became a vice president in 1977 and a senior vice president in 1982.

Walters is a fellow and former president of the Casualty Actuarial Society and a member and former president of the American Academy of Actuaries. The Association of Professional Insurance Women named her Insurance Woman of the Year in 1992.

Release: Immediate

Contacts:
Giuseppe Barone / Erica Helton
MWW Group (for ISO)
201-507-9500
gbarone@mww.com / ehelton@mww.com