Commercial Surety Trends & Underwriting Considerations in 2022

Pat Dougherty, Head of Commercial Bonds, is member of the Political Risk, Credit & Bond and Specialty Americas leadership teams. In this role, Pat sets the strategic direction for the Commercial Bond team. Pat joined AXA XL in 2017 with over a decade of underwriting experience and strong producer relationships. He oversaw the field underwriting and marketing in the Mid-Atlantic and Northeast for Nationwide Commercial Surety. Pat began his surety career at Liberty Mutual as a Senior Underwriter for the Philadelphia, Pittsburgh and Mid-Atlantic regions where he handled a commercial surety book of Fortune 500/1000 and large private/non-profit organizations. He obtained a BS in Finance from the University of Pittsburgh and holds an AFSB designation.

Doug Schmude has nearly 15 years of brokerage experience, bringing a unique perspective to the team and understands the high level of service and efficient processes expected in today's marketplace. Doug began his career in the insurance industry with Zurich in 2002.  Prior to joining AXA XL in January 2019, Doug was a Vice President and Account Executive - Lead for a national brokerage firm.  In this role, he worked closely with clients and carriers to establish tailored bond programs, developed creative solutions for emerging exposures, proactively managed and expanded a book of commercial and real estate accounts, and provided valuable advice on risk exposures and reduction.  Doug earned his bachelor’s degree in Marketing from Eastern Illinois University and holds the Associate in Fidelity and Surety Bonding (AFSB) designation.

Richa is a Senior Underwriter with AXA XL’s Political Risk, Credit, and Bond team.  She transitioned to a Commercial Bond underwriter in 2021 and prior to that, supported the team in managing the credit risk analysis function, portfolio management, and limits management. She brings eight years of risk management experience from a variety of industries, including insurance, fintech, and investment management. Previously, Richa developed and commercialized credit products for StreetShares, a fintech startup, and also worked as a Financial Analyst for XL Catlin with the US based Global Surety team. Richa holds an MBA in finance from University of Maryland’s Robert H. Smith School of Business, and two bachelor’s degrees in Finance and Economics from the University of Maryland.