Recoop Disaster Insurance announced the appointment of Greg Bailey as Chief Executive Officer and Charlie Turri as Chief Technology Officer.
Together, Bailey and Turri bring deep experience in insurance, financial services, and technology innovation that will position Recoop for accelerated growth, expanded distribution, and next-generation platform development.
An experienced entrepreneur and operator, Bailey has founded and served as CEO of Rivet Co., a media and growth consulting company. Previously, Bailey founded and served as the CEO of Denim, a leading social media management software company serving financial and insurance brands nationwide. He also co-founded Insure.vc and has held senior leadership roles with Athene, Pacific Life, and TruStage.
As CEO, Bailey now leads Recoop’s company operations, strategic growth, technology, and distribution enablement.
Joining Bailey isTurri, a veteran technology leader known for scaling startups and enterprise-grade platforms across financial services and insurance companies. Turri most recently served as CTO of Lenders Cooperative, where he led modernization initiatives across lending and data infrastructure. Previously, he was CTO for Denim and ITPeopleNetwork, overseeing product architecture and engineering operations. Turri has also held senior IT leadership roles at Athene and AIG.
At Recoop, Turri will lead efforts into data and AI integration, platform scalability, and automation.
Headquartered in West Des Moines, Iowa, Recoop is the nation’s only multi-peril disaster insurance company that quickly pays lump-sum cash (up to $25,000) after a disaster
The picture isn’t expected to change. Midyear results indicate 2025 will be another profitable year and another year with a decrease in premium in line with more rate decreases.
Christopher Graham, senior industry analyst, Industry Research and Analytics, AM Best, noted that workers’ compensation underwriting profits over the past decade have been largely attributable to favorable prior-year loss development. “While the reserve cushion appears to be shrinking, it is expected to provide benefits to calendar-year profitability in the medium term,” Graham added.
California remains the state with the largest share of national workers’ compensation premium, with more than 20% of direct premium written in the country, and twice as much as any other state. The top 10 states represent more than 60% of the national premium. According to AM Best, as good as the overall results were in 2024, in six of these top 10 states, results were even better: the statewide combined ratio was better than the national combined ratio.