Cumberland Insurance Group Announces Promotion and New Officer
September 15, 2008
BRIDGETON, NEW JERSEY: The Cumberland Insurance Group Board of Directors is pleased to recognize Richard M. Ritter, Paul J. Ritter III, Esq., Roby L. Musick, and Linda M. May on their recent promotions, and welcomes Michael A. Colodney, Esq. as the new Vice President of Legal Affairs.
“These promotions solidify the organization as we move forward and position The Cumberland Insurance Group with the next generation of leadership,” said Cumberland Insurance Group CEO and Chairman Leo T. Hogan. “Rick and Paul are both assuming expanded management roles. Both have been instrumental in developing our current strategy and our record results in recent years. They demonstrate the strength and depth of Cumberland’s executive talent.”
Richard M. Ritter was promoted from Assistant Executive Vice President to Executive Vice President. He has 30 years of experience in the insurance industry and previously served for four years as President of The Mutual Fire Insurance Company of Chester County. Mr. Ritter joined The Cumberland Insurance Group in 2000 following the merger between the two companies. He oversees underwriting operations in the Bridgeton, New Jersey; Coatesville, Pennsylvania; and Prince Frederick, Maryland offices; and oversees Information Technology operations in Mansfield, Ohio. Mr. Ritter also currently serves as the Vice Chairman of the Delaware Insurance Guaranty Association, and as the Vice Chairman of the Coatesville Area School Board.
Paul J. Ritter III, Esq. has been promoted from Vice President and Assistant Secretary to the Board of Directors to Senior Vice President, CFO, and Secretary to the Board of Directors. Mr. Ritter graduated from the University of Notre Dame in 1983 with a Bachelor’s Degree in Accounting and received his law degree from Widener University in 1987. He joined The Cumberland Insurance Group in 1999. Mr. Ritter’s new responsibilities include budgeting and strategic planning, internal financial reporting, enterprise risk management, and business continuation planning. In addition, he serves as the Deputy Mayor of Hopewell Township, New Jersey, and as a member of the Hopewell Township Planning Board. Mr. Ritter is also an Adjunct Professor of Business Law at Cumberland County College.
Roby L. Musick has been promoted from Vice President to Senior Vice President and Chief Information Officer. He has nearly 20 years of experience in the information technology field. Prior to joining The Cumberland Insurance Group, Mr. Musick worked for the Shelby Insurance Company and the Selective Insurance Group. Mr. Musick currently manages The Cumberland Insurance Group’s Ohio technology office. He is a member of the Technology Advisory Committee for Pioneer Joint Vocational School and a member of the Information Systems Advisory Committee for North Central State College.
Linda M. May has been with The Cumberland Insurance Group for 30 years. She previously managed the Commercial Lines Underwriting Department, and in 2006, she assumed management of the newly created Research and Development Department. Ms. May graduated from Cumberland County College, and has pursued a number of continuing educational courses through professional insurance organizations. She also obtained her Agent’s license from the South Jersey Professional School of Business. Ms. May is the president-elect of the National Association of Insurance Women of Cumberland/Salem County.
Michael A. Colodney, Esq. has joined The Cumberland Insurance Group as Vice President of Legal Affairs. Prior to joining Cumberland, Mr. Colodney was a Senior Associate in the Corporate and Business Law Department of Bressler, Amery, & Ross, P.C.; General Counsel and Assistant Corporate Secretary for Goen Technologies; and Associate General Counsel and Director of Regulatory Affairs for the Credit Union Affiliates of New Jersey. He received his law degree from Seton Hall University in 1997. As the senior legal officer for The Cumberland Insurance Group, Mr. Colodney is responsible for guiding all aspects of the corporate legal functions.
“My congratulations go out to all five individuals. Rick, Paul, Rob, and Linda have been integral members of our leadership team for several years,” said Cumberland Insurance Group President Robert P. Brady. “Over this period, they have made significant contributions to our enhanced regional capabilities and our compliance responsibilities. We are also pleased to have Michael Colodney as a new member of The Cumberland Insurance Group family. His legal acumen, leadership skills, and breadth of industry knowledge will be strong assets for the Company.”
The Cumberland Insurance Group was established in 1844 and currently serves over 134,000 policyholders in the states of New Jersey, Pennsylvania, Delaware, and Maryland. In 2007, the Company had Total Admitted Assets of $322,267,129 and a Policyholders’ Surplus of $140,387,741. For more information about The Cumberland Insurance Group, please visit www.cumberlandgroup.com.
For more information about this press release, please contact Lee Tofanelli at 856-691-3113.« Back to News