Our People

Executive Management

Falls Lake Insurance Management Company


Steven J. Hartman – President/Chief Executive Officer

Mr. Hartman brings extensive leadership experience to Stonewood having held executive positions in the insurance and reinsurance industry since 1992. Prior to Falls Lake National, he served as Senior Vice President of IAT Specialty, Occidental Fire & Casualty Insurance Company, Harco National Insurance Company and Wilshire Insurance Company, subsidiaries of IAT Group. Mr. Hartman has also served as Director at Arch Reinsurance Company, Senior Vice President at Gerlin Global Reinsurance Corporation of America, Senior Vice President and Chief Underwriting Officer and member of the Board at Constitution Reinsurance Company and Vice President at Transatlantic Reinsurance Company. He has the designations of Chartered Property Casualty Underwriter and Associate in Reinsurance.


Thomas R. Fauerbach – Chief Actuary and Chief Financial Officer

Mr. Fauerbach brings more than 30 years of property and casualty experience to Falls Lake. He has most recently served as Chief Actuary at Alterra Capital Holdings and Colony Insurance Group. He has also served as an actuary at Markel Corporation, Middlesex Mutual Assurance Company, Cigna and Commercial Union Insurance Company. Mr. Fauerbach has an Actuarial Science degree from The
College of Insurance, New York, NY and is an Associate of the Casualty Actuarial Society.


Ronald S. Serbin – Director of Business Development

Mr. Serbin has 25 years of information technology experience, ranging from overall direction of technology infrastructure to managing large-scale outsourcing initiatives within Fortune 500 enterprises. Prior to joining Falls Lake, he was employed by Investors Title Insurance Company and Nortel Networks. Mr. Serbin is a graduate of Kent State University with a degree in Computer Science/ Management Science and earned his Master in Business Administration from the Fuqua School of
Business at Duke University.


Sallie C. Mercer – Director of Claims

Ms. Mercer has 22 years of experience managing and training claims adjusters. Prior to joining Falls Lake, she served concurrently as Workers’ Compensation Claim Manager and Multiline Property and Casualty Training Manager at North Carolina Farm Bureau Mutual Insurance Company. She also served as a course instructor for the Eastern North Carolina Chapter for CPCU. Ms. Mercer is a Masters
level graduate of East Carolina University and holds the designations of Charterer Property and Casualty Underwriter, Associate in Risk Management, Associate in Claims and Certificate in General Insurance from AICPCU.


Paul M. Kearns – Director of Workers Compensation Underwriting & Director of Loss Control

Mr. Kearns leads the Underwriting and Loss Control Departments with over 14 years of insurance experience. He is a graduate of Hobart College. Prior to Falls Lake he served in multiple capacities with iSurity Insurance Services including experience in both the Claims and Loss Control departments as well as 8 years serving as the Director of Underwriting. Mr. Kearns holds an Associate in Risk Management


Susan Richardson – Director of Special Program Underwriting

Ms. Richardson has 27 years of experience underwriting experience and is a graduate of Washington & Jefferson College. She began her career as an underwriter with Nationwide Insurance Company and progressed to managing underwriting and marketing professionals at Fireman’s Fund Insurance Company. Ms. Richardson led product management activities including product development, pricing and form approval, product implementation, marketing and training as a Vice-President at Transguard Insurance Company. She also has served as Vice-President managing wholesale agencies at the Berkshire Hathaway companies, Gateway
Underwriters Agency, Inc. and United States Liability Insurance Group.


Cindy A. Sullivan – Director of Policy Services

Ms. Sullivan has 20 years of experience in premium accounting and premium audit. Prior to joining Falls Lake, she was the Director of Premium Audit for Builders Mutual Insurance Company. Through third party administration, Ms. Sullivan has managed premium accounting services for the North Carolina Retail Merchants, North Carolina Restaurant Association, and Association of General Contractors.


Agnes Cheung – Assistant Director – Actuarial & Compliance

Ms. Cheung brings more than 12 years of property and casualty insurance experience to Falls Lake. She held several roles at Insurance Services Office, Inc. and QBE North America including pricing for program business. Ms. Cheung has a Mathematics degree from the University of Pennsylvania, and is a Fellow of the Casualty Actuarial Society and a Member of the American Academy of Actuaries.


Joseph Raia – Controller

Mr. Raia has worked in the P&C industry for over 35 years, primarily in accounting and audit functions. Prior to joining Stonewood, he most recently served as Senior Vice President – Audit Director at Delos Insurance Company. Prior capacities included Senior Vice President and Controller at Sirius America Insurance Company, Vice President – Account Services at Munich American re, and Vice President and Audit Director at Constitution Reinsurance Corporation.


Raju Sodhi – Senior Vice President & Chief Information Officer – James River Group

Mr. Sodhi has 24 years of information technology experience, ranging from overall direction of technology infrastructure to managing large-scale software development initiatives within large insurance companies in Richmond VA.  Prior to joining James River Insurance Company in November of 2002, he was employed by Colony insurance company and Medical college of Virginia Hospital.  Mr. Sodhi is a graduate of Punjab University, Punjab, India, with a degree in Arts and earned his post-baccalaureate certificate in Information Systems from Virginia Commonwealth University.