Victor Insurance has announced a leadership transition at its US flood insurance services unit, Torrent Technologies. Mark Damico (main picture) is set to take over as president and chief operating officer starting July 31, 2025.
Damico will be tasked with overseeing Torrent’s technology platforms and service operations. The business supports carriers that participate in the National Flood Insurance Program (NFIP) through the Write Your Own (WYO) model and provides private flood insurance offerings across the country.
He will continue to hold his current COO responsibilities, which include overseeing day-to-day operations and product development. Based in Brookfield, Wisconsin, Damico will report to Charles Williamson, Victor’s CEO.
Since joining Torrent in 2018, Damico has been involved in refining its operational strategy. Before that, he held executive positions, including president and CEO at StoneRiver. His earlier career included leadership roles at Fiserv, where he served as group president. He also spent time as an entrepreneur, launching businesses in the Midwest.
Damico expressed interest in building on the work of his predecessors and continuing collaboration with Torrent’s teams, agents, and insurance partners.
“I’m proud to work with such a talented group of colleagues at Torrent,” said Damico. “And look forward to building on our capabilities to deliver exceptional value to our carriers, brokers and clients as we continue to revolutionize the flood insurance industry,".
“Under his leadership, Torrent will be well-positioned to support carriers and agents as the industry continues to evolve toward more sustainable solutions for homeowners and businesses in the US," he said.
Damico's appointment comes as Kevin Tobin prepares to retire after more than three decades in the insurance sector.
Tobin’s retirement closes a chapter at Torrent, where he played a role in leading the company through industry shifts and the development of its technology services.
"I would also like to thank Kevin for his extraordinary contribution in leading Torrent through a period of complex change and technological advancement during his tenure," Williamson said.
Torrent operates as a unit of Victor Insurance, a global managing general underwriter. The firm’s services include specialty property and casualty coverage, professional liability products and benefits solutions for groups and retirees.
With this leadership change set to take effect later in 2025, how do you see it influencing flood insurance offerings in the U.S.? Let us know your thoughts in the comments.
