About Tim Farrell
Timothy J. Farrell, CRIS
Senior Vice President, National Environmental and Construction Professional Liability Practice
Tim Farrell has more than 30 years in the commercial property and casualty industry and is one of the founders of New Day. Over the years Tim has gained tremendous working knowledge of the various products offered by many of the environmental and construction related professional liability insurance carriers today. Whether it's a specialty contractor or a manufacturer, Tim is looked upon by our retail broker clients for his expertise and his overall guidance in the process of creating the optimal solution for the insured.
Tim joined RT New Day (formerly New Day Underwriting Managers LLC) after more than a decade selling and marketing environmental insurance coverages and services with XL Environmental, formerly ECS, Inc., part of the XL Capital group of companies. During his tenure at ECS/XL Environmental, Tim was influential in the growth of the company's book of environmental and professional liability insurance business to almost $400 million in 2004, and managed the largest portion of the book. Tim also assisted in providing valuable insight into the development of unique and innovative products required by many of the ECS/XL clients. Additionally, Tim's extensive experience includes sales and marketing experience as a broker, managing general agent and insurance carriers. Prior to XL Environmental, Tim worked with CIGNA Property & Casualty Co. in Philadelphia and Maguire Insurance Group in Wynnewood, PA., where he honed and developed his underwriting, marketing and business development skills.
Tim earned his Masters of Business Administration from St. Joseph's University and his Bachelor of Business Administration from Temple University, both in Philadelphia. He has completed the professional designation of Construction Risk and Insurance Specialist (CRIS). Tim is also a member of the Professional Liability Underwriting Society, Philadelphia's Mariner Club and active with the Risk and Insurance Management Society, Inc. (RIMS), Insurance Society of Philadelphia (ISOP) and the International Risk Management Institute (IRMI). Tim is also in the process of achieving the LEED Green Associate designation from the United States Green Building Council. Finally, since July 2012, Tim has been on the Advisory Board for Best Buddies of Pennsylvania, an organization "dedicated to establishing a global volunteer movement that creates opportunities for one-to-one friendships, integrated employment and leadership development for people with intellectual and developmental disabilities."