News in Brief

PEOPLE

Penni Chambers was elected chairwoman of the board of directors of the Surplus Lines Stamping Office of Texas by unanimous vote of the board members during its virtual meeting held March 25. Chambers is beginning her fourth year of service on the SLTX board as a public representative. She is the director of risk management for Dallas-headquartered Hillwood Development Group, a Perot Company, where she has worked for six years. Previously Chambers was director of risk management for Behringer Harvard Holdings, also headquartered in Dallas. Before that, Chambers was an account executive with Arthur J. Gallagher and Co. She holds a B.S. degree in biomedical science from Texas A&M University. Also elected to board offices by unanimous vote of the board members were Vice-Chairman Randy Myers, senior underwriter for AXA XL/XL Reinsurance, and Secretary Leslie Milvo, risk manager for the city of Austin.

Three new members have been appointed to the WSIA board of directors. Erin Dolan, RSUI, was appointed as the U40 representative to the board for 2021-2022. Dolan is immediate past president of WSIA’s U40 and serves on WSIA’s Education Committee. She is senior vice president of analytics and communications at RSUI and has nearly 20 years of industry experience. Danny Kaufman, Burns and Wilcox, was appointed to fill the remaining term for Joel Cavaness, Risk Placement Services, who concluded his term as immediate past president. Kaufman serves as COO of Burns and Wilcox and is executive vice president and board member of H.W. Kaufman Group. He served on the WSIA PAC Committee prior to joining the WSIA board. Carlton Maner, AXIS, was appointed to fill the remaining term for Bruce Kessler, who retired from the board. Maner is CEO of AXIS, U.S. Division, and serves as the global property practice leader. Maner previously served on the legacy NAPSLO board of directors and has been a WSIA Membership and Ethics Committee member. He currently serves as the chairman of WSIA’s Diversity Foundation board of directors. During the March 2 virtual meeting of WSIA, Maner received the Dana Roehrig Award for his exemplary volunteer service.

MEETINGS/EDUCATION

The Insurance Council of Texas Education Foundation has reported that it provided scholarships to 43 students from nine Texas universities during 2020. Total value of the scholarships is $72,000. Additionally, the foundation provided these universities with grants for books, conferences and virtual events that exposed 175 students to the insurance industry, despite the decrease in in-person engagement due to pandemic restrictions. To date, 628 students have received foundation scholarships totaling $1.29 million since the awards began in 2002. The report indicated that 60 percent of foundation scholarship recipients found jobs in the property and casualty industry. ICT expects that speed interviews will be conducted during the ICT/AFACT P&C Insurance Symposium this September in Austin. The symposium is slated for Sept. 1-2. Tax-deductible donations to the foundation can be made by check mailed to ICT or online.

GOLF

The Independent Insurance Agents of Dallas will host its annual golf tournament June 14 at Gleneagles Country Club in Plano, with the theme, “The Future’s Bright.” After a long pandemic year and a monster snowstorm, IIA Dallas is preparing for some fun in the sun. Registration opens at 9 a.m. with breakfast and a putting contest. Shotgun start for golf is at 10 a.m., with food and beverages on the course and a wrap-up awards social event in the afternoon.  There is a player limit of 144. Cost to play is $200 for individuals, $995 for a foursome. Cost for non-golfing attendees is $50. Registration is available online. Executive Director Tammy Land has included details regarding sponsorships and registration on the IIAD website, www.iiadallas.org.

TWIA

The board of directors of the Texas Windstorm Insurance Association held a public workshop meeting of the board, members of the Actuarial and Underwriting Committee and the association’s reinsurance broker on April 21 to further study rate issues and make the rating process more understandable to the board members and the public. No action or rate filing was taken at the workshop meeting. The next quarterly meeting will be held virtually on May 18.

NAIC

The National Association of Insurance Commissioners unveiled its new logo during the opening session of its Spring National Meeting on April 12. The new intertwined C is intended to emphasize “the way commissioners collaborate in service of their shared mission of protecting consumers,” said the NAIC’s news release. The association announced additional modernization plans for the website and “a more fully integrated refreshed brand identity.”  Also on April 12, the association released its annual report, describing its adaptive successes during 2020 and actions it has undertaken to protect consumers and ensure a stable U.S. insurance market. The NAIC looks ahead in this report to exploring how AI can be used to improve solvency monitoring. The report contains a statement of the NAIC’s financial position, statement of activities and cash flows. As of the end of 2020, the NAIC had assets valued at $190.3 million with $18.97 million in cash and cash equivalents, a year over year growth of $15.34 million. Member dues makes up about 1.8 percent of association revenues, with the rest of the income derived from database fees, valuation of asset services and filing fees. Largest expense drivers for 2020 were annual salaries at $56.72 million; employee benefits, $15.76 million, and professional services, $16.82 million.

MERGERS/ACQUISITIONS

Higginbotham, an independent insurance and financial services agency headquartered in Fort Worth with offices in 10 states, has partnered with an independent agency in Baton Rouge, Louisiana, to establish its second office in the state. Higginbotham’s union with First Louisiana Insurance is another step in the agency’s strategy to expand its footprint and increase its service capability by partnering with other independent agencies that have strong reputations in their local markets. Higginbotham entered Louisiana in January 2021 with one such partner in Bossier City, and First Louisiana Insurance sets a path for further growth in the state. “We’ve expanded outside our home state of Texas by partnering with southern U.S. firms from Oklahoma to Florida,” said Higginbotham Chairman and CEO Rusty Reid. “Moving into our neighboring state of Louisiana was a natural progression, but not one that we rushed into. Each partnership we enter is a thoughtful decision based on cultural and operational congruency. It just so happens that we found the right fit with First Louisiana Insurance at the same time as our new partner in Bossier City.” First Louisiana Insurance founder and President Jack Harless said, “We continually look for creative ways to enhance the lives of our clients and our employees, and we were searching for a long-term strategic partner with the same focus.” Higginbotham named Harless a managing director, and he will continue leading First Louisiana Insurance with Executive Vice President Kase Gonzales. Subsequently, Higginbotham announced the rebranding of its 2018 and 2019 acquisitions in Georgia; TriGen Insurance Solutions in Atlanta and Resource Alliance in Alpharetta have adopted the Higginbotham name, the firm announced on March 25.