Insurance
Home›Insurance›Liability Insurance›Coverys appoints Walter Grote as chief underwriting of…
Coverys appoints Walter Grote as chief underwriting officer
The move comes as the US medical professional liability market posted $712 million in underwriting losses in 2025, up from $546 million in 2024, according to AM Best.
Coverys has named Walter Grote as its chief underwriting officer, bringing in a 35-year insurance underwriting veteran whose most recent role ran underwriting and regional leadership at Bridge Specialty Group, the wholesale specialty platform of Brown & Brown, where he served as chief underwriting officer and central regional president.
Before Bridge Specialty Group, Grote led Arrowhead Core Commercial, the commercial lines wholesale unit of Arrowhead General Insurance Agency, and earlier held underwriting roles at firms including QBE North America, Allianz Global Corporate & Specialty, Fireman's Fund Insurance Company, and Travelers, where he had both CUO and COO responsibilities across middle market and commercial accounts divisions.
Coverys said Grote will direct its underwriting functions to support near-term and longer-term growth, with CEO Joseph Murphy pointing to Grote’s ability to balance profitable growth and operational excellence. Grote said Coverys has been a leader in medical professional liability for 50 years and that he is honored to lead the underwriting organization.
The broader medical professional liability backdrop remains pressured. Insurance Business noted the sector is in its second consecutive year of widening underwriting losses, with MPL specialist insurers recording a collective $712 million underwriting loss in 2025, up from $546 million the prior year, driven primarily by claims severity, and AM Best cited that competition has held back rate increases.