About

Enrico‘ Ric’ Pennisi has 48 years of surety underwriting, marketing and management experience obtained by working with and having leadership positions with a preeminent Surety Company and a National Surety Broker.

He is viewed as trusted advisor to Construction Company Owners, CEOs and CFOs with regard to risk issues associated with specific contracts and projects, appropriate levels of working capital and debt structure, and business/continuity planning and litigation support.

His surety career began in August 1969 as trainee with Reliance Insurance Company’s Surety Department working in their Cincinnati, OH office.

His career at Reliance Insurance Company included both branch office leadership in Northern New Jersey followed by promotion to Territorial Underwriting Officer located in the Philadelphia, PA home office.

In 1983 with the formation of surety management subsidiary, Reliance United Pacific Surety Managers, Ric was appointed lead of all administration, financial and IT operations and surety product development.

In 1985, he was appointed Chief Underwriting Officer for Contract and Commercial Surety. He was successful in developing and implementing underwriting guidelines along with go to market strategy for Branch offices and Home office colleagues. As Chief Underwriting Officer, he participated with the Surety Claim Department to manage contractor defaults providing input on strategies and solutions including decisions on liquidation or rehabilitation of the contractor

Ric joined Marsh USA Inc in their Nashville, TN office in 1987 to lead their Surety Department and became part of the Marsh National Surety Practice. In 1986, Marsh acquired Martin Hayes and Company, the largest contractor insurance and surety agent in Tennessee.

While maintaining relationships with contractor clients in Tennessee, his role in the Marsh National Surety Practice continued to grow which lead to the appointment as Deputy Marsh Surety Practice Leader.

In 1997, Ric was appointed Nashville Office Head. He became first the Marsh Surety person promoted to become a geographic leader of an office and a state. He maintained his Surety Advisor role with key local and national contractor clients.

He returned to Marsh’s National Surety Practice in April 2015 as Southeast Zone Surety Leader and U.S. Surety Operations leader.

Over his career, Ric has been lead surety underwriter and broker on many ENR 400 contractors and several Global 100 Contractors.

He has spoken at National and Regional NASBP, ARTBA, CFMA, and ABC meetings.

In addition to his client work with Contractor Strategies, Ric serves on the board of 3 privately held construction companies providing his knowledge and expertise for strategic business decisions.