McGowan Hires Karl I. Olson to Run Its Professional & Management Liability Wholesale Business Units

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Jul 24, 2024, 08:42 ET

CLEVELAND, July 24, 2024 /PRNewswire/ -- The McGowan Companies today announced that Karl I. Olson has been named Managing Director of two of its business units: (1) McGowan, Donnelly & Oberheu, LLC ("MDO"); and, McGowan Wholesale - Professional & Management Liability Division ("McGowan P&M"). MDO and McGowan P&M are two of the leading wholesalers of Professional Liability and Management Liability in the United States. Olson reports to Thomas B. McGowan, IV, President & CEO of The McGowan Companies, one of America's leading insurance intermediaries.

Olson has more than 20 years of insurance industry experience. From 2001 to 2008, he was Director of Carpenter Moore Insurance Services (focusing on Professional Liability and Healthcare insurance). From 2008 to 2015, he was Vice President, Branch Manager, and Practice Leader - Professional Liability of Sullivan Brokers Wholesale Insurance Solutions, Inc. (focusing on Professional Liability, Management Liability, and Healthcare/Medical insurance). From 2015 to 2024, he was Vice President & National Practice Leader - Professional & Management Liability of Burns & Wilcox Brokerage. Olson is a frequent speaker on Professional & Management Liability, advisor to private equity companies on insurance matters, and consultant to carriers on developing forms and proprietary endorsements.

"I am pleased to welcome Karl Olson to the McGowan family. I have known Karl for many years. He is an outstanding executive and insurance professional. His leadership skills and track record of building and managing increasingly larger and more complex businesses will accrue to the benefit of McGowan and its 82,000 brokers across the United States. In his new role, Karl will be responsible for the oversight of our Professional & Management Liability subsidiaries - including strategy, governance, and attention to major issues. These business units have been growing rapidly over the past 15 years, and I look forward to many decades of exceptional future growth with Karl's capable hands 'at the helm,'" said Thomas B. McGowan, IV.

Olson commented: "I am very excited to become part of The McGowan Companies, an organization with such a wonderful reputation amongst brokers. Its extraordinary underwriting, distribution, and technological capabilities allow its brokers to differentiate themselves from the 'pack' and provides them with a meaningful competitive advantage…ultimately leading to significantly higher-than-average closing ratios for its brokers with regard to both New and Renewal Business."

About The McGowan Companies

The McGowan Companies is one of the oldest, largest, and most respected organizations of its type in the United States. As one of the leading insurance brokers and intermediaries in the United States, McGowan is dedicated to providing its 82,000+ brokers and more than 1,000,000 insureds with superb service and competitively-priced, flexible, and creative products that dynamically respond to and capitalize on changes in the insurance marketplace. McGowan is a multi-generational, family-owned and operated conglomerate of 75+ insurance brokers, wholesalers, programs/program administrators, and reinsurance intermediaries. To learn more, Think McGowan™ and visit www.mcgowancompanies.com.

For further information: Media Contact: Suzanne Young [P: (440) 333-6300 x3611 / E: [email protected]]

SOURCE The McGowan Companies