Oil & Gas Industry, an update on BOEM regulations

Based in Houston, Pat is Sompo Surety’s U.S. National Underwriting Officer.  This role encompasses portfolio management and credit modelling responsibilities for the U.S. Surety book, reinsurance placement activities, and other facets of surety executive leadership. Pat brings 15+ years industry experience to Sompo and its broker partners.  This experience includes underwriting and broking a variety of companies within the Fortune 2000 and private company equivalents, energy risks, and all facets of the surety life cycle including complex credit analysis, mergers and acquisitions, private equity involvement, collateral structures, and claims management. 

Prior to Sompo, Pat worked to build JLT Specialty’s surety brokerage practice in the United States with an emphasis in Energy as JLT’s Energy Surety Practice Leader.  Upon Marsh & McLennan Companies, Inc.’s acquisition of JLT, Pat became a Senior Vice President in Marsh JLT’s Surety Practice.  Prior to Marsh JLT, Pat worked at RLI Insurance Company in RLI’s Surety Group.  

Pat earned a B.B.A. in Finance and a B.B.A. in Economics from Loyola University of Chicago. He also holds the Associate in Fidelity and Surety Bonding (AFSB) certification.  Pat serves on the Houston Advisory Board for Heroes for Children, an organization that advocates for and provides financial assistance to families with children battling cancer.

John is responsible for servicing and consulting on the surety bonds for clients handled by CAC Specialty Natural Resources.

John specializes in oil and gas surety. Originally a surety underwriter, John started his career with Argo Surety before joining Wortham in 2015. In 2017 he was recognized as a top young broker by Insurance Business Magazine primarily for his extensive research and knowledge of Bureau of Ocean Energy Management regulations which enabled him to specifically target clients with offshore surety bond needs, limiting risk and countless hours of guesswork. Later, he helped develop and implement the use of the Dual Obligee Bond in the Gulf of Mexico for both BOEM and private obligations. He has a deep knowledge of all aspects of the energy market and their surety needs. Later this year, he will be speaking at NASBP on the State of the Union for Oil and Gas Surety.  Outside of energy, John has a strong grasp of contract surety and all forms of commercial surety.

John has a Bachelor of Science Degree in Finance with a specialization in Alternative Investments from Fordham University. He graduated with honors and was on the Varsity football team. He is a member of the National Association of Surety Bond Producers (NASBP) as well as the Houston Surety Association.

Jason joined the Applied team in Jul’23 as the Energy Practice Leader, where he leverages his extensive expertise in risk management and underwriting to lead the company's energy sector initiatives. With a career spanning over two decades, Jason has built a reputation as a strategic leader with deep insights into the complexities of the energy industry. Before joining Applied, Jason served as the Chief Risk Officer at Berkley Surety, where he was responsible for overseeing the company’s risk management framework, while ensuring underwriting best practices, and driving sustainable profitability. His tenure at Berkley Surety was marked by his ability to navigate the volatile landscape of surety and risk, earning him recognition as a key player in the industry. Prior to his role at Berkley, Jason honed his expertise in the energy sector as an Oil & Gas Underwriter at RLI. His hands-on experience in underwriting within this specialized field provided him with the knowledge and acumen necessary to assess and mitigate the unique risks associated with energy operations. Jason holds an MBA from the University of Houston and a Bachelor of Science in Business Administration (BSBA) from the University of Denver and served five years as a member of the U.S. Armed Forces.