Tuesday, February 18, 2014

Underwriter Profile - Somers Goodman, VP & Chief Underwriting Officer - Surety, IIC


Somers Goodman is Vice President and head of the Bond Department at IIC. Since joining the company ten years ago the bond department has grown three times the size it was when he arrived. With a focus on helping small to mid-sized contractors grow into larger businesses with a more standardized risk profile, Somers brings both flexibility and rigor to the underwriting process.

Born and raised in Connecticut Somers attended Vanderbilt University where he met his wife, Felicia. After completing his undergraduate degree he went on to pursue an MBA with a focus in finance at Thunderbird Global School of Management in Glendale, Arizona. Having concluded his MBA Somers and Felicia moved to New York and he was hired by AIG to work in their treasury department.

Several years later, Tom Chase (CEO, IIC) invited Somers to move to Waco and help run IIC’s bond department. This was a great move as he and Felicia wanted to be close to her family in Waco as they got ready to start a family and Somers had the strong financial background needed to grow IIC’s bond department.

Somers’ interests outside of work include spending time with his two girls, Helen (9) and Daisy (6), cooking a good meal with his wife, or trying to get in a round of golf when he can.

The bond department is on track to post another year of growth and Somers looks forward to continuing to build strong relationships with IIC’s agency force, offering solutions for underwriting cases that can sometimes fall outside of the standardized approach.

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