Cincinnati Financial Realigns Claims and Legal Functions Amid Leadership Transition

Cincinnati Financial Corporation (Nasdaq: CINF) has announced that Marc J. Schambow, CPCU, AIM, ASLI, chief claims officer for its property casualty subsidiaries, led by The Cincinnati Insurance Company, will retire in January 2027.

Schambow has served as Cincinnati's top claims officer since 2020, capping a nearly 40-year career with the company. After serving agents and policyholders as a field claims representative in Wisconsin for nearly a decade, he moved to Ohio as a casualty claims supervisor in 1997. He became the first claims manager for The Cincinnati Specialty Underwriters Insurance Company in 2007 and transitioned to lead the field claims team in 2014.

Stephen M. Spray, president and chief executive officer, said Schambow took the reins of the claims team at the height of the Covid-19 pandemic, that the company needed an experienced and steady leader and he delivered, and that he worked to increase efficiencies and implement technology that boosted claims satisfaction.

Todd V. McMillan, J.D., will assume executive responsibility for the headquarters and field claims teams upon Schambow's retirement. McMillan is an industry veteran with nearly 30 years of experience, most recently corporate senior vice president and head of liability claims at Safety National Casualty Corporation. He began his career in private practice, then as staff counsel for GEICO, before joining The Hartford in 2003 where he held a series of claims leadership roles. He holds degrees from the University of Dayton and Widener University Law School.

As part of the transition, executive oversight of claims operations moves to chief legal officer Thomas C. Hogan, aligning the claims and legal functions. All three leaders will collaborate through the handover.