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Mark has worked in the insurance business for many years holding a variety of claims and underwriting positions involving all lines of business in the international and domestic US Markets. From 1999 through March 2013, Mark was a senior member of ACE, (n/k/a Chubb), Overseas General claim executive responsible for the management and oversight of claims arising globally from business written by ACE outside the US paying particular attention to larger, serious, complex litigated claims in the financial lines, casualty and specialty lines areas, intervening where appropriate. His responsibilities included promulgating best practices, ALAE management and control and oversight of external vendor & attorney panels. He led the leakage and quality improvement initiative in the international division. He joined CLM Advisors in 2013 and Suite 200 Solutions in 2018 as an independent consultant focused on the management of multinational claims, the development and implementation of best practices, ALAE management, audits and leakage identification and reduction. Mark also provides expert advice on claims, coverage, litigation management, case resolution and trial strategy and serves as an expert witness. Mark has also served on non profit Boards and is presently a director on the Board of the SUNY Cortland Alumni Association.
Mark Goracy, Insurance Consultant, Llc
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Independent ConsultantMark Goracy, Insurance Consultant, Llc Sep 2014 - Present
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ConsultantClm Advisors, Suite 200 Solutions Sep 2013 - PresentAs a CLM Advisor and consultant with Suite 200 Solutions, Mark offers his consulting clients more than 35 years of insurance experience, serving in both claims and underwriting positions. Prior to joining CLM Advisors, Mark enjoyed a successful career at ACE, (n/k/a Chubb), CIGNA, INA & Liberty Mutual. At ACE, Mark served as a senior member of the claim executive team, responsible for the management and oversight of claims arising around the world in multi jurisdictional settings, including the US. During his career, Mark’s areas of specialty have included the management of complex litigation in financial, casualty, and specialty lines, as well as the oversight of leakage and quality improvement initiatives within ACE’s international division. At CLM Advisors, Mark’s consulting focus includes the management of multinational claims, the development and implementation of best practices, ALAE management, leakage reduction, and the control and oversight of vendor and attorney panels. Independently, he provides expert advice on claims, coverage, litigation management and case resolution, and serves as an expert witness.Mark is a licensed attorney, and was a frequent speaker and presenter on various insurance and business topics. Mark received his bachelor of arts from State University of New York College at Cortland, and his Juris Doctorate from New York Law School.
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Vice PresidentAce Group Mar 2011 - Mar 2013ChAppointed to lead Divisional Best Practice and Leakage audits; participate in Group wide quality measurement reviews and oversee claims data analysis project to determine root causes of leakage and non-compliance with best practices in order to drive change and best in class peformance. Maintained responsibility for technical leadership on larger, complex high exposure cases. -
Vice PresidentAce Group Jul 1999 - Feb 2011ChVice President Claims, ACE Overseas General, the international division of ACE, Ltd., Philadelphia, PA,Provided Claims Division leadership through management and oversight of regional claims staff intervening as appropriate in significant, complex, high exposure claims arising from all lines primarily focusing on Financial Lines, Casualty and all types of liability claims. Served as a member of the Group Financial Lines Claims Committee. Responsible for claims technical leadership and participated in strategic planning and execution of Claims and related Underwriting initiatives. Drove technical claims handling integrity and discipline and the creation and promulgation of claims best practices. Led divisional cost control oversight efforts of ALAE spend and participated on Group-wide project teams for legal and non-legal ALAE management, including case budgeting, and litigation management. Served on Group Legal Steering Committee and various product line panels for assessing & approving external counsel. Provided oversight & direction for US & non-US multinational claims, primarily Casualty and Financial Lines, D&O & PI, as well as providing support for certain specialty lines of business, including environmental impairment liability, trade credit and political risk. Managed extra contractual and bad faith claims in the US for all lines primarily arising from reverse flow multinational business. Regularly interacted with underwriters, actuaries and reinsurers on claim developments and trends and with customers & brokers on claims issues, programs and treaty renewals. Led AOG asbestos task force involving global runoff business primarily emanating from our London operation and provided input and advice to actuaries regarding trends & exposure. Oversaw divisional APH operation based in London managing inward and outward reinsurance and direct claims. Extensive travel. -
Vice PresidentCigna P&C Mar 1997 - Jun 1999Vice President Claims CIGNA International, Philadelphia, PA. Served as global manager for all complex, high exposure claims arising from P&C Lines. Responsible for global ALAE budget of ~US$44mil., vendor management programs and for managing global cost center budgets. Operational responsibility for Latin America & Canada regions; reengineered Latin American Claims organization. Managed environmental, asbestos & long term exposure claims and in charge of claims runoff operations. Direct reports of 10-12 senior claim managers and indirectly ~ 450 staff globally. Led Y2K preparedness Project with matrix reporting lines to CFO, CIO, Chief Underwriter. Periodic reports to the Board. ~60% travel.
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Vice PresidentCigna International P&C Nov 1993 - Mar 1997Vice President /Underwriting Manager, D&O & Specialty Lines, CIGNA International, Philadelphia, PA., & London, UK. Responsible for developing business plans, marketing, production, and Treaty reinsurance placement. Identified & hired key managers. 8 underwriters & support staff based in London, Miami, Toronto & Paris for this newly created international product line. Successor U/W Manager identified & hired by me in London assumed profitable book. Similar underwriting product line development work done for e&o, K&E, MPT, S&T & Surety business. ~40% travel.
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Assistant Vice PresidentCigna P&C Oct 1990 - Nov 1993Assistant Vice President/Product Line Underwriting Manager, CIGNA Special Risk Facility New York, NY. Responsible for D&O product line. Primary tasks were to develop new business and build underwriting staff and operations outside the US and re-underwrite the US book to profitability. Reports included 25 underwriters & support staff based in NY, London, Toronto & Los Angeles. ~20% travel.
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DirectorCigna P&C Jun 1985 - Oct 1990Director, Professional Liability & Casualty Claims, CIGNA P&C, Philadelphia, PA. Built & managed a new head office unit responsible for directing all primary and excess e&o, D&O, med mal, E&S & CIGNA Healthplan claims. Direct reports of 10 claim professionals, attorneys & support staff managing a field staff of ~25 based in New York, Chicago, Tampa, Woodland Hills, & Plano field offices. Accountable for ~25,000 files nationally, & two cost center budgets. ~20% travel.
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Claim SuperintendentInapro, Division Of Cigna P&C Nov 1982 - Jun 1985Claims Analyst and Superintendent, INAPRO, Special Risk Facilities, INA, then CIGNA P&C, New York, NY. Supervised staff of 6 professionals in all lines of primary and excess e&o & E&S claims in the US. Maintained own file diary and solely responsible for all D&O claims. Accountable for ~3000 files. Limited travel.
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Senior Claims AdjusterLiberty Mutual Insurance May 1981 - Nov 1982Boston, Ma, UsSenior Claims Adjuster, Liberty Mutual Insurance Company, New York Contracting Risks Service, New York, NY. Handled WC, Jones Act, and all types of liability claims arising from the construction industry in the New York Metro area. Account Manager for Otis Elevator,Turner Construction, ITO, among others. Duties included those of suit adjuster managing litigated cases, attending pre-trial conferences, trial monitoring and negotiations. -
Suit Claims AdjusterLiberty Mutual Insurance Sep 1980 - May 1981Boston, Ma, UsAttended court hearings, conferences mediations and trials in New York City Courts and courts of surrounding counties. Negotiated settlements and participated in trials and trial preparation assisting assigned defense counsel. -
Field Claims AdjusterLiberty Mutual Insurance Sep 1979 - Sep 1980Boston, Ma, UsField Claims Adjuster, Liberty Mutual Insurance Company, New York Contracting Risks Services, New York, NY. Handled all types of claims arising in the construction, excavation, elevator and stevedoring industries.
Mark Goracy Skills
Mark Goracy Education Details
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New York Law SchoolLaw -
State University Of New York CortlandEducation & History
Frequently Asked Questions about Mark Goracy
What company does Mark Goracy work for?
Mark Goracy works for Mark Goracy, Insurance Consultant, Llc
What is Mark Goracy's role at the current company?
Mark Goracy's current role is Expert Witness, Independent Consultant.
What is Mark Goracy's email address?
Mark Goracy's email address is mr****@****aol.com
What schools did Mark Goracy attend?
Mark Goracy attended New York Law School, State University Of New York Cortland.
What skills is Mark Goracy known for?
Mark Goracy has skills like Liability, Reinsurance, Professional Liability, Claim, Insurance, Litigation Management, Claims Management, Casualty, Property And Casualty Insurance, Underwriting, Insurance Law, D&o.
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