Robin Webb – Page 2

Michigan Announces New Executive Director

October 23, 2019October 23, 2019 Robin Webb Leave a comment

In September, the Michigan Property and Casualty Guaranty Association announced that Jeffery Jenkins would become their new executive director. Their official announcement is below.

NCIGF reached out to Mr. Jenkins now that he has begun in the new role and he stated, “I am excited that I have started a new journey in my life here at MPCGA and look forward to being an integral part of the greater GF community. I really enjoy my new role! It has been a warm, comfortable and inviting feeling during the transition. It is extremely encouraging to see the teamwork that all of the organizations display and it is nice to see that we all are in this together with a family-like atmosphere.”

MPCGA Announcement:

Michigan Property and Casualty Guaranty Association Announces Selection of New Executive Director

The Michigan Property and Casualty Guaranty Association (MPCGA) is pleased to announce the appointment of Jeffery D. Jenkins as executive director. The search was conducted by the executive search and selection practice of The Jacobson Group. Margaret Resce Milkint, managing partner of Jacobson, led this successful engagement.

“Jeff has a wealth of industry knowledge and business acumen,” said Margaret Scheske, chairman of the MPCGA board. “The board is confident that under Jeff’s leadership the MPCGA will continue to fulfill its duty to protect policyholders and claimants against financial losses.”

In his new role, Jenkins will be responsible for the overall direction, coordination and evaluation of MPCGA’s operations and employees. He will serve as the face of MPCGA and will represent the interests of the organization, its member insurers and the welfare of impacted insureds in the state of Michigan.

“Jeff’s strong background in the property and casualty industry, passion for transparent leadership, and problem-solving approach will undoubtedly prove valuable assets to MPCGA,” said Milkint.

Jenkins most recently served as director of field property claims for The Hanover Insurance Group. He has more than 20 years of experience in the property and casualty sector. Jenkins earned a Bachelor of Arts in business administration from the University of Findlay in Findlay, Ohio, and has also earned a production management and leadership principles certificate.

“What an exciting opportunity to implement advances in new technology at MPCGA,” said Jenkins. “I look forward to working with this talented team to enhance our organization’s long-standing vision, and I am confident our collaborative work environment will serve us well to tackle new challenges in the future.”

About Michigan Property and Casualty Guaranty Association:

MPCGA is an unincorporated association of all property and casualty insurance companies authorized to transact insurance in Michigan. Membership in MPCGA is a condition for doing business in the state of Michigan. MPCGA was created by the Michigan Legislature in 1969 to protect the public against financial losses to Michigan policyholders and claimants as a result of insurance company insolvencies. MPCGA is not a state agency. It pays certain claims of insolvent insurance companies that were licensed to do business in the State of Michigan. A seven-member Board of Governors, appointed by the Director of the Department of Insurance and Financial Services (“DIFS”), oversees MPCGA. Additional information is available at http://www.mpcga.com/.

Contact:

Michigan Property and Casualty Guaranty Association

2019 NCIGF Fall Workshop Highlights

October 18, 2019October 18, 2019 Robin Webb Leave a comment

The 2019 Fall Workshop took place in New Orleans on October 2-3. The educational event kicked off on that Wednesday at the historic Roosevelt Hotel and featured John Wells welcoming the membership to his home state of Louisiana. After introducing James Donelon, Commissioner of Insurance for the state, Mr. Wells handed things over to Trey Boone from eSOURCES who presented on organizational culture.

Throughout day one of the event, the NCIGF program highlighted opportunities for interaction among the community members, which included a rousing game of Jeopardy!, hosted by Chad Anderson (AKA Wink Wollery) as well as lunchtime roundtable discussion groups that covered important guaranty fund topics – Claims, IT, and Challenges for New Fund Managers. Said one participant who joined the IT roundtable, “Not only did Andrew and Jeremy answer our questions, the group of people at the table was varied and I enjoyed getting to know them better.”

Day one concluded after the group heard from NCIGF President & CEO, Roger Schmelzer and another panel entitled Disaster Sight: Listening to History for Creative Problem Solving. Mr. Schmelzer closed his President’s Report by stating, “In this version of NCIGF, with this composition of members who are so committed to the mission of the guaranty fund system, everyone can and should be heard.”

Tom Streukens leads the scenario exercise

Day two of the workshop, emceed by Tom Streukens (FL), began with an interactive exercise constructed by the education committee: a cyber insolvency scenario. As members arrived in the morning, they were instructed to sit at round tables and Mr. Streukens explained the day. The scenario was rolled out, and each group took time to brainstorm, share experiences from their individual shops, and come up with next steps. The conclusion of the exercise involved each table sharing their ‘top takeaways’ with the large group. This was often met with applause and many took notes. “This exercise was excellent. The mix of experience and personalities at my table were perfect. There were many questions we could not answer, but at a minimum, this exercise drove the conversation and helped illustrate the need to keep talking about this topic and seek insight/clarification of how we would, collectively, respond to an insolvency with cyber policies”, commented one member via the 2019 Fall Workshop survey.

To see the notes from the scenario exercise as well as the PowerPoint presentations from all panels and speakers, click here.

Click here to see the list of future NCIGF events.

Missouri Executive Director Chuck Renn Recognized at August Board of Directors Meeting

August 27, 2019August 30, 2019 Robin Webb Leave a comment

Roger Schmelzer presents Chuck Renn with his Certificate of Appreciation, joined by NCIGF Board Vice Chairman and Chairman, Chad Anderson and Keith Bell.

NCIGF hosted its most recent board of directors meeting in Indianapolis last week. Among the board was Charles Renn, Executive Director of the Missouri P&C Insurance Guaranty Association. Mr. Renn attended this meeting not only as the most recent NCIGF past chairman but also marking this as his last ever NCIGF event. He presided over the board from 2017-2019, passing the gavel to Keith Bell from Travelers at the annual conference in May.

At the conclusion of the two-day board meeting, Roger Schmelzer, President & CEO of NCIGF, recognized Chuck for his 10 years of service on the board and for his incredible work overall for the guaranty fund community. As he received his certificate of appreciation, Chuck shared a powerful and heartfelt goodbye and was met with a standing ovation from all that were in attendance. He will be officially stepping into retirement on September 30 and will be succeeded by Tamara Kopp who also attended the August meeting.

Chuck wrote an open letter to the NCIGF Board of Directors and has agreed to share it here:

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Kopp Named New Executive Director of Missouri Insurance Guaranty Associations

May 23, 2019May 23, 2019 Robin Webb Leave a comment

Update provided by the Missouri Insurance Guaranty Associations

Jefferson City, MO: Tamara W. Kopp has been named the new Executive Director of the Missouri Insurance Guaranty Associations by the Associations’ Executive Committee. Kopp takes the helm on October 1, 2019, when Chuck Renn retires after managing the Associations since 1992.

Kopp has spent her legal career with the Missouri Department of Insurance, most recently as receivership counsel representing the receiver for failed insurance companies. Kopp brings an understanding of government, insurance regulation, and company resolutions. She has served on the boards of directors for the International Association of Insurance Receivers (IAIR) and the Women Lawyers’ Association of Mid-Missouri (WLAMM). Kopp also represented the Missouri Department of Insurance on various National Association of Insurance Commissioners (NAIC) Committees, Task Forces, and Working Groups. As Executive Director, Kopp will continue her involvement with NAIC and IAIR while adding the National Conference of Insurance Guaranty Funds (NCIGF) and the National Organization of Life and Health Guaranty Associations (NOLHGA) to her schedule.

“On behalf of the Missouri Insurance Guaranty Associations, we want to thank Chuck for his 27 years of outstanding service to the guaranty associations and to Missouri consumers,” said Mike Voiles, Missouri Farm Bureau and Chair of the property and casualty guaranty association.

Tamara Kopp said, “Chuck has built a solid organization. I’m looking forward to continuing his level of excellent service for Missouri insureds to keep promises made.”

Kopp earned her law degree from the University of Missouri – Columbia and her bachelor’s degree from Northwest Missouri State University.

The Missouri Insurance Guaranty Associations provide protection within limits to insureds, beneficiaries, and claimants who are disadvantaged due to the insolvency of a member insurance company. Not all companies are member companies and not all types of insurance policies and coverage are subject to the protection provided by the Missouri Insurance Guaranty Associations. There are two insurance guaranty associations in Missouri that are jointly administered from one office. However, they have distinct responsibilities under their respective statutes. One association is responsible for insurance company insolvencies among the member life and health insurance companies, and the other association is responsible for insolvencies occurring among the member property and casualty insurance companies.

For more information, visit mo-iga.org

D. Keith Bell Tapped as NCIGF Board Chairman

May 23, 2019May 23, 2019 Robin Webb Leave a comment

The Board of Directors of the National Conference of Guaranty Funds (NCIGF) has elected D. Keith Bell of The Travelers Companies, Inc., as the NCIGF’s new board chairman.

Bell assumed the two-year board chairmanship at the NCIGF’s 2019 Annual Meeting in Chicago on May 1. He has served on the NCIGF board since 2003. He was the NCIGF board’s vice chair from 2016 to 2018. Keith Bell is Senior Vice President, Accounting Policy, Corporate Finance at The Travelers Companies, Inc. He is responsible for setting accounting policy, monitoring the development of accounting standards, and interacting with insurance accounting standard setters. Prior to joining Travelers, he held similar responsibilities for Aetna, Inc. (formerly Aetna Life & Casualty). Bell has worked in the insurance and financial services industry for over twenty-five years. He has a B.S. degree in accounting from Illinois State University and is a certified public accountant. He is a member of the American Institute of Certified Public Accountants and the Rhode Island Society of CPAs. He has co-chaired the insurance industry committee on statutory accounting for the last ten years. Bell is a contributing author to the IASA Property-Casualty Insurance Accounting textbook and has authored several articles in insurance trade publications. Additionally, he has been active on several NAIC advisory committees, the American Council of Life Insurance’s Accounting Committees, and is currently chairman of the American Insurance Association Committee on Financial Management Issues.

D. Keith Bell (Travelers) and Chad Anderson (WGFS) – incoming chair and vice chair of the NCIGF board of directors

Keith Bell has served with NCIGF for many years and, along with his role on the NCIGF board, he is currently an active member of the Accounting, Finance, and Public Policy Committees and Vice Chair of the Executive Committee. During his presentation at the 2019 Annual Conference where he was voted in as the new chairman, Bell highlighted the history of the guaranty fund system as well as where he believes the system is headed in the future and how the community will continue to achieve its top priority of keeping the insurance promise.

NCIGF Hosts 2019 Annual Conference in Chicago, IL

May 22, 2019May 23, 2019 Robin Webb Leave a comment

The 2019 NCIGF Annual Conference was held in May at the historical and centrally located Intercontinental Chicago. The hotel, situated along the famous Magnificent Mile, was a great spot for NCIGF’s 90+ attendees, special speakers and exhibitors.

The conference opened with a welcome from the Director of the Illinois Department of Insurance, Robert Muriel, and the first day saw presentations representing the passing of the torch from the outgoing board chairman, Chuck Renn, Executive Director of the Missouri P&C Insurance Guaranty Association, to his successor, D. Keith Bell, from The Travelers Company, Inc. Both men made comments regarding the ever-important issues that the guaranty fund community continues to face, noting specifically the importance of the continued funding of the system, cyber security and relationships with receivers. The first day of the conference also included panels on important topics such as operational readiness, international issues and IT security.

Panels and presentations on staffing, media relations and the challenges and discoveries of being a newer fund manager rounded out the second day of the conference.

Survey satisfaction ratings of both Chicago and The Intercontinental were high and several

comments were made about taking the information from the educational program back to offices and teams for review. When asked, ‘What ideas did you hear from the presentations that you are most excited to take back to the office?’, the responses were a great testimony that the educational event gets the wheels turning on important issues:

“Several great ideas on cyber security.”

“Claims training to be prepared for the future, and how claims are the most integral part of operations for all guaranty fund offices.”

“Different ways funds hire and train employees and use outside temps or vendors.”

“Communication best practices for media relations.”

“Great takeaways for staffing issues and solutions.”

Registration for the next NCIGF educational event, the 2019 Fall Workshop, will open in a few months. This conference historically focuses on the issues specific to IT, Accounting and HR. For more information on NCIGF events, click here.

NCIGF CEO ELECTED CHAIR OF GLOBAL POLICYHOLDER PROTECTION GROUP

January 16, 2019January 16, 2019 Robin Webb Leave a comment

INDIANAPOLIS, IN, January 14, 2019 – Roger H. Schmelzer, president of the National Conference of Insurance Guaranty Funds (NCIGF), has been selected to serve as chairman of the International Forum of Insurance Guarantee Schemes (IFIGS).

Schmelzer, along with Peter Gallanis, president of the National Organization of Life and Health Insurance Guaranty Associations (NOLHGA), NCIGF’s life and health counterpart, together have represented the United States as members of IFIGS since 2012.

Schmelzer, who has led the NCIGF since 2006, will be joined on the IFIGS Management and Support Committees by representatives from Canada, Chinese Taipei, Germany, Greece, Korea, Kenya, Romania, Singapore, Spain, Thailand and the United Kingdom. He has served as IFIGS secretary for the past year.

“Insurance customers, industry and the economy are best-served when the insurance promise is secured,” said Schmelzer upon his election. “I’m enthusiastic about working with our global partners to further advance that objective.”

IFIGS facilitates and promotes international cooperation between insurance guarantee schemes and other stakeholder organizations with an interest in policyholder protection. The IFIGS is made up of 25 full and associate members, 22 of which are Insurance Guarantee Schemes (IGS) from Africa, Asia, Europe and North America. There are more than 30 IGS worldwide.

IGS protect policyholders of insurance companies that fail. Many IGS provide expertise in stabilization or restructuring resolutions, and all IGS can provide expertise and some form of insurance protection and/or financial support to assist in the liquidation of an insolvent insurer.

An international platform will elevate the U.S. guaranty system’s value to domestic solvency regulators, according to Schmelzer. “This is timely because the NAIC is undertaking its own initiatives that could affect the U.S. system,” he said. “The broader our expertise, the more impactful we can be on behalf of the state guaranty funds, the carriers who belong to the state associations and most importantly to individual policyholders and claimants.”

Schmelzer noted the efforts of the NCIGF and NOLHGA as part of IFIGS have already made a difference, citing recent changes to international regulatory drafts which underscore the primacy of policyholder protection, the importance of pre-insolvency cooperation, collaboration between the guaranty system and regulators as well as clearing up any misconceptions that a guaranty association could spread financial risk.

NCIGF and NOLHGA will host the IFIGS annual conference in late 2019.