Hartford Insurance Group (1966 – 1973)
I was one of twelve individuals hired to participate in a one year class room training program. The curriculum included instructions on all facets of the Property and Casualty insurance business. After graduating from that program I was assigned to the New Orleans branch office as a Property and Casualty Underwriter. In that position I personally underwrote account submissions for various commercial businesses. Those submissions included monoline property, monoline casualty, monoline auto and commercial multi peril.
After less than one year in New Orleans I was promoted to the Home Office Underwriting Department where my duties included the supervision of underwriting departments in a number of branches. Branch underwriters had limited authority to accept accounts and had to submit to the home office those accounts that were in excess of their authority. My job was to review and make the ultimate underwriting decision on home office submissions. I reviewed commercial casualty, property, auto and package accounts and I had the authority to commit the Hartford to virtually any risk within the overall capacity of the company. In addition, it was my job to conduct underwriting audits on branch offices to determine compliance with underwriting policy of the company.
After a year and one-half in the home office I accepted a transfer to San Francisco. The San Francisco operations of the Hartford had been managed by a General Agency and the company was in the process of buying out the interest of the GA and converting the operations to a normal branch office. The underwriting results of the GA were very unacceptable and I was charged with making a complete turnaround. Again, I was in charge of multi line underwriting. In addition to the managerial and administrative responsibilities of my position, I also functioned as the Senior Underwriter. That means I personally handled all of the large and complex accounts. Among the accounts I personally underwrote were the following:
In addition I personally underwrote accounts reflecting a wide scope of California manufacturing, retail and industrial operations. Further, it was my responsibility to personally underwrite any account whose annual premium exceeded $100,000.
M.I.G. (1973 – 1981)
I was hired to start, from scratch, the commercial multi peril department. The company was a workers compensation specialist that wanted to expand into other lines. My job included development of all underwriting guidelines for property and casualty; negotiation and purchase of all reinsurance treaties for non comp business. In addition, since the company did not have property and casualty underwriters in the branch offices my staff and I underwrote all accounts for the first year. Among the accounts I personally underwrote were:
In addition, I again underwrote casualty and property exposures presented by diverse retail, manufacturing, service and industrial businesses.
I took over the Kausler General Agency, a River Marine MGA , located in New Orleans after the Group purchased its operations. I was not a River Marine underwriter, although I did supervise the underwriting and claims professionals. Even though I held the position of President, I still maintained my focus as an underwriter. While at Kausler I negotiated reinsurance treaties and General Agency contracts with numerous carriers not affiliated with the Group. I also functioned as the senior underwriter for property, casualty and package business and did all the underwriting for a surplus line company that Kausler represented.
I returned to the Group’s home office as Executive Vice President of all operations. In that position I managed the underwriting, marketing, loss control and claims divisions. In addition all Branch Managers reported directly to me. It was my responsibility to be the final authority on all large claims settlements, the establishment of large claim reserves and underwriting acceptances. On a daily basis I conducted meetings involving both underwriting and claims department heads. Once again, I was the Senior Underwriting Officer in the Company for all lines.
First Pacific Insurance Group (1981 – 1988)
With financial backing from private investors I established the Holding Company for the purpose of capitalizing a new property and casualty insurance company. The insurance company was chartered in 1981. As President, I was responsible for all operations of the insurance company and a Managing General Agency that was started in 1982. Most of my time was spent in making underwriting and claims decisions. The company did not have an in-house claims department so all claims were handled on a contract basis by General Adjustment Bureau. I was the only person in the company who handled claims supervision. I personally supervised the GAB claims professionals who did our work and was the company contact for the legal professionals who did our defense work. I was also responsible for making sure the company complied with the California Unfair Claims Practices Act.
Because the company had modest financial resources it did not underwrite large or prestigious accounts. Instead it underwrote commercial risks such as retail operations, catering risks, non standard auto business and commercial trucking operations. It also underwrote a jewelers block program which consisted entirely of manuscript coverage forms which I prepared.
The insurance company also served as the front for a Lloyds program that insured day camps in Southern California. I negotiated the fronting terms and controlled the financial aspects such as securing proper letters of credit. I also did all of the property and casualty underwriting following the terms and conditions set by the Syndicate that ultimately took the underwriting risk.
Superior Insurance Group (1988-1990)
In this position I was, again, the Senior Underwriting Officer for the Insurance Company. All divisions of the company, other than Financial, reported to me. In conducting my duties I held numerous meetings between underwriting and claims personnel. The time I was with Superior was the only time in my career when I was not actively involved in individual risk underwriting decisions. However, as Senior Underwriting Officer in the Holding Company I had direct oversight responsibilities over the insurance company underwriting.
Dumaine Insurance Services (1990 – 2003)
All special programs underwritten by Dumaine were my work product. I did the research, set the underwriting guidelines, established the rules, rates and forms and did the individual risk underwriting. All of the programs we underwrote were casualty driven, with property being only incidental to the liability exposures. I designed all the programs and marketed them to Insurance Companies who then signed Managing Underwriting Contracts with Dumaine.
The pest control program, underwritten by Frontier and the roofers program, underwritten by Illinois Union were classic MGA programs. We presented the program, including underwriting guidelines and eligibility criteria and they accepted and they placed their own reinsurance. Their staff handled the claims.
For the most part, the other programs were all Fronting Programs. I designed the entire program, presented it to reinsurers and only after securing the reinsurance capacity did we search for a company to front the program. Our largest program was a liability program for artisan contractors that developed well over $20,000,000 in written premium and was placed through various Fronting Carriers. I am more than well aware of the ins and outs of Fronting Programs. In fact, some of our programs included parts that were Fronted and other parts were placed through standard GA arrangements.
One of the carriers that we represented for eleven years was a British carrier. In addition to underwriting on their behalf I personally served as an unofficial underwriting consultant for them. By that I mean the head of their London Underwriting operation would receive program submissions from brokers around the country and would send them to me for counsel.
I have forty four years experience in the property and casualty insurance business. The vast majority of that time I was involved in the day to day underwriting of a wide diversity of exposures. My experience has allowed me to review and underwrite accounts from all across the country and consisting of every imaginable type of exposure. I have underwritten just about everything from mom & pop retail operations to national manufacturers with complex liability exposures. In addition, I have been involved with every facet of insurance company operations.