As chief operating officer of surety in North America, Black will have responsibility for the underwriting, strategy, and profitable growth of its commercial and construction surety business in North America. A release noted that she will be based in New York and continue to report to Chubb Group vice president and North America surety division president Stephen Haney.

"Teresa has been an exceptional leader to our surety team and partner to our clients seeking reliable surety capacity for wide-ranging projects," said Chubb Group vice chairman and Chubb North America president John Lupica. "In this new role she will have a broader role impact in setting the course for the ongoing growth of our North America Surety business."

"Having worked with Teresa for nearly a decade, I have seen firsthand the pivotal contributions she has made to our organization, both in building our business and cultivating reliable capacity for our customers, and through strengthening our team with her generous mentoring of up-and-coming talent," added Stephen Haney.

Black was most recently serving as executive vice president of commercial surety. She has 25 years of insurance industry experience, and first joined Chubb (then named ACE Surety) in 2013 as senior vice president and chief operating officer for the US business. She also previously served as senior vice president of distribution management; vice president, national segment leader for New York; and assistant vice president, financial lines. Black is also a member of the board of directors of the Spencer Educational Foundation.

Black earned her Bachelor of Arts degree in economics from Binghamton University and an MBA in finance from the Leonard N. Stern School of Business at New York University.

Last week, Chubb appointed Maggie Peloso as senior vice president of Chubb Group and global climate officer and executive director of the Chubb Charitable Foundation. Peloso, whose appointment takes effect next year, will be responsible for the company's climate-related strategies.