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Vivace Insurance Partners names Cordell Fenig CEO for Vivace Americas
The CEO change comes amid falling marine cargo rates and a May Supreme Court ruling that increases freight broker negligent hiring exposure.
Vivace Insurance Partners has promoted Cordell Fenig to chief executive officer of Vivace Americas, a Los Angeles-based managing general agent focused on marine cargo and logistics insurance. Fenig joined as a senior underwriter when Vivace Americas launched in March 2024, after earlier work at Roanoke Insurance Group covering marine, cargo, legal liability, and logistics insurance, according to Insurance Business.
The leadership appointment arrives as the logistics insurance market faces pressure from two directions. Cargo rates are declining, with WTW's Spring 2026 marine cargo update citing rate reductions of 7.5% to 15% or more at renewal for well-performing programs and capacity described as the most robust in years as competition for premium volume intensifies.
At the same time, a US Supreme Court decision in May has increased liability exposure for freight brokers and logistics operators that MGAs serve. On May 14, 2026, the court ruled unanimously in Montgomery v. Caribe Transport II, LLC that state-law negligent hiring claims against freight brokers are not preempted by the Federal Aviation Administration Authorization Act, removing a defense brokers have used to seek early dismissal, with cases expected to proceed further.
Insurance Business said the ruling is likely to raise insurance costs and settlement values, with insurers expected to tighten underwriting around broker safety protocols and documentation. Fenig said he plans to expand Vivace's carrier relationships through Markel and pursue Lloyd's coverholder status, which would help broaden distribution options, the outlet added.