What’s New: In Brief (April 14, 2008)

Zurich North America Commercial (NAC) has announced it is reducing its staff by 400 positions “to proactively manage its cost structure.”
“NAC will reduce approximately 400 positions or 4% of the staff that support the business division, primarily in non-market-facing roles,” the company announced in a statement posted on its Web site.
The actions are part of a broader program designed to enable continued profitable growth while also improving the company’s expense structure over time, the statement says.
“The positions eliminated were primarily non-market-facing roles to ensure our actions will not disrupt customer service,” said Mike Foley, CEO of NAC. “We will continue to invest in underwriting and claims capabilities, as well as enhanced systems and tools.”