Liberty Mutual Agency Markets announced that Carol Sipe has been appointed president and chief executive officer of Summit, a monoline workers' compensation insurance provider.
Ms. Sipe succeeds Mr. Rick T. Hodges, who has led Summit since 1999, and is retiring in January.
Liberty Mutual Agency Markets is a unit of Boston-based Liberty Mutual Group. Summit provides coverage in ten southeastern states.
Ms. Sipe has been senior vice president and general manager of operations since 2006.
The company noted that under Mr. Hodges' leadership, Summit more than doubled its premium under management and expanded operations throughout the Southeast. He was the first chairman of the Workers' Compensation Advisory Council for the Florida Division of Workers' Compensation, and is a current member of the board of directors for the Florida Workers' Compensation Joint Underwriting Association.
As Summit's new president, Ms. Sipe will be responsible for the continued growth and development of the company and its subsidiaries.
Summit provides workers' comp products and services to businesses in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Tennessee. Summit, which includes Summit Consulting Inc. and its subsidiaries, is based in Lakeland, Fla., and has offices in Baton Rouge, La., and Gainesville, Ga. Summit's 2008 premium under management was $689.8 million, with approximately 44,000 policies in force.
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