Verisk promotes Rob Newbold to President of Extreme Event Solutions

Global risk data technology and analytics firm Verisk has promoted long-standing executive Rob Newbold as the President of its Extreme Event Solutions risk modelling division, to succeed Bill Churney who retires at the end of this year.

Newbold has worked at Verisk since 2002, having joined the AIR Worldwide catastrophe risk modelling speciality unit as a risk consultant.

Since then he has held several roles of increasing responsibility, moving up through the business and taking on roles with significant importance to the risk modelling arm of the Verisk organisation.

During his time at the company, Newbold has been integral to the business’s growth, Verisk explained.

One example is that Newbold built and led the catastrophe bond specialist modelling and analysis team at Verisk.

Following 2008 financial crisis, a period when the 144A property catastrophe bond market grew steadily, Newbold led and developed the team to become one that to this day is still the leader in catastrophe bond risk assessment.

Take at look at our catastrophe bond risk modeller leaderboard to see just how prolific this Verisk Extreme Event Solutions (AIR) team is in the cat bond market.

More recently, Newbold has been serving as executive vice president and chief operating officer, Extreme Event Solutions.

“The Extreme Event Solutions team plays a critical role in helping Verisk serve as a strategic data analytics and technology partner to the insurance industry, and the team makes significant contributions to building global resilience,” Lee Shavel, president and CEO, Verisk explained. “For two decades, Rob has been a driving force behind the client-driven innovation, rooted in the latest science, which is a cornerstone of the team’s growth. With the support of a strong and diverse leadership team, he will further expand the Extreme Event Solutions team’s contributions to the success of our clients and the global insurance industry.”

“I’m honored to build on the incredible momentum we’ve gained under Bill’s leadership,” Newbold added. “We’re proud of our role in helping clients and the global insurance industry prepare for extreme events, from modeling to mitigation efforts. To lead this team at this pivotal point in the insurance industry’s history is a thrilling responsibility, and we look forward to continuing a legacy of innovation in service of the vital role our clients play in society.”

Churney is set to retire from Verisk after 21 years working at the company, the past eight years of which saw him serving as the president of Extreme Event Solutions.

“Bill has made significant contributions to the extreme events modeling business and the insurance industry, earning him the trust and respect of colleagues, clients and partners around the world,” Shavel commented. “We are thankful for his leadership and wish him the success he deserves in this next chapter of his life.”