12 April 2023Analysis

CAC Specialty creates healthcare division

Integrated specialty insurance brokerage CAC Specialty has formally launched its healthcare division.

The addition will enhance the senior living practice CAC Specialty launched earlier last year as the first installation of its bid to build a nationwide healthcare-specific risk advisory division.

CAC Specialty said that it recognises the increasing centrality that healthcare organisations play in the insurance sector, and also announced that Kevin Carnell has been appointed executive chairman. The company will be progressively adding more talent to the division in coming months.

Carnell will be responsible for staffing and growing the division, as well as providing counsel on the implementation of alternative risk financing programs, captive insurance company formation, and reinsurance negotiation. He will apply his expertise across the firm in addition to directly supporting CAC’s latest division.

According to CAC Specialty Carnell brings a unique blend of legal, insurance and operational expertise, managing some of the nation’s leading hospital insurance programs throughout his three decade-long career. He is recognized as a thought leader within the healthcare sector for helping clients navigate complex financial and operational risks through long-term risk financing vehicles.

Most recently, Carnell served as healthcare division director and RCM&D chief legal officer for Union Risk Advisors, where he focused on growth, retention and management of all client relationships, in addition to providing legal advice on employment issues and regulatory matters.

“We are delighted to have Kevin, an esteemed leader in the healthcare insurance industry, lead our growing healthcare division,” said Bruce Denson, president of CAC Specialty and Cobbs Allen. “We are following the same proven leadership model used in our Natural Resources division: bringing in exceptionally talented individuals with unrivalled expertise in the field and giving them the freedom and independence to run with it.”