20 19 - wsia · 20 19. ii sa annual report 2019 about wsia the wholesale & specialty insurance...

2 019 W S I A A N N U A L R E P O R T i

ANNUAL REPORT

2019

W S I A A N N U A L R E P O R T 2 019ii

ABOUT WSIAThe Wholesale & Specialty Insurance Association (WSIA) is a world-class member service

organization representing the entirety of the wholesale, specialty and surplus lines

industry. The Wholesale & Specialty Insurance Association was formed in 2017 through

the merger of the American Association of Managing General Agents (AAMGA) and the

National Association of Professional Surplus Lines Offices (NAPSLO).

WSIA members strive to build profitable business relationships in the wholesale, specialty

and surplus lines insurance industry. WSIA is dedicated to developing and strengthening

the industry and provides members unparalleled:

Networking

Education

Talent recruitment and development initiatives

Regulatory and legislative advocacy

Promotion of wholesale value

WSIA’s membership consists of 724 member firms, including U.S. Wholesale, U.S. Insurance

Market, Associate and Service members, representing tens of thousands of individual

brokers, insurance company professionals, underwriters and other insurance professionals

worldwide conducting business in the U.S. surplus lines market.

WSIA members of all shapes and sizes gain a competitive advantage in the marketplace

through active participation in the only association dedicated specifically to the wholesale,

specialty and surplus lines insurance industry.

MISSION

The Wholesale & Specialty Insurance

Association is the non-profit association

of professionals and specialty market

leaders dedicated to the wholesale

distribution system. The Wholesale

& Specialty Insurance Association

represents the interests of its members

and the valuable role they play in the

insurance market through networking,

education, talent recruitment and

development, regulatory and legislative

advocacy for the wholesale, specialty

and surplus lines industry, and by

promoting the value of the wholesale

distribution channel.

CONTENTS

2 WSIA Membership Services

4 WSIA Award Honorees

6 Audit & Compliance Committee

7 Automation Committee

8 Career Development Committee

9 Education Committee

10 Emerging Issues & Innovation Committee

11 Events Committee

12 Internship Committee

13 Legislative Committee

14 Membership & Ethics Committee

15 Political Action Committee

16 WSIA Financials

18 Leadership

19 Past Presidents Council

2 019 W S I A A N N U A L R E P O R T 1

Dear WSIA Members,

On behalf of the WSIA Board of Directors, I am pleased to present the 2019 Annual Report, which outlines the association’s financial health and accomplishments during the last year. I am proud of the association and our shared accomplishments during 2019, and I hope you will take time to read this report as a reminder of the benefits of WSIA membership that we all enjoy. During the last year, WSIA’s successes included record contributions to the WSIA PAC, substantive progress on behalf of members in state and federal regulatory and legislative advocacy, record-setting attendance at association networking events, a comprehensive slate of WSIA education programs, growth in career development initiatives and the number of students reached with our industry’s message of opportunity, and expansion of the WSIA Internship Program. WSIA’s Underwriting Summit, Insurtech Conference, Annual Marketplace and U40 Annual Meeting continue to be this industry’s premier networking events. At Underwriting Summit, we reintroduced a successful Opening Breakfast with keynote speaker, and the 2019 Annual Marketplace had record-setting attendance. WSIA education programs continue to be refined and updated to offer high-caliber professional development and technical training to members in all phases of their careers. In addition to offering eleven on-site programs that were at capacity, we also offered a new education webinar and members and students continue to take advantage of WSIA’s convenient, cost-effective, on-demand online education opportunities. The association also continues to emphasize the value of the wholesale distribution system in the insurance marketplace by incorporating that value proposition into all messaging, both internal and external. We continued to spread the message that accessing the wholesale distribution system does not add cost to surplus lines transactions into paid advertising and earned editorial placements that WSIA secures throughout the year on behalf of members. WSIA is able provide these valuable services to members due in large part to the association’s strong financial position and the legion of dedicated member volunteers who work to effectively promote, advocate for and protect our industry. Thank you to the more than 350 committee volunteers who help make this work possible. You are vital to the association’s ability to continue to offer unparalleled value to members.

PRESIDENT’S MESSAGE

Joel CavanessPresident 2019-2020

ANNUAL REPORT

2019

“I am proud of the association and our

shared accomplishments during 2019,

and I hope you will take time to read this

report as a reminder of the benefits of

WSIA membership that we all enjoy.”

WSIA ANNUAL REPORT 20192

Legislation and Regulation

• WSIA invested $625,772 in state and federal advocacy services focused on state regulatory reforms to uni-formly apply the Nonadmitted and Reinsurance Reform Act (NRRA); reform in state insurance codes regarding surplus lines policy fees; advocacy for immediate appoint-ments to the National Association of Registered Agent and Brokers (NARAB) Board of Directors; reauthorization of the National Flood Insurance Program (NFIP) and seeking revisions in the federal definition of private flood insurance; and seeking long-term reauthorization of the TRIA to provide contracting certainty for members.

• In February, 48 members of WSIA’s Executive Committee, Legislative Committee, PAC Committee and U40 Board held 36 meetings with members of Congress and their senior staff to provide surplus lines education and advocate for issues of importance to the membership.

• Contributions to the WSIA PAC came from 348 individuals and totaled $178,845, representing WSIA’s largest year of fundraising in the PAC’s history and an increase of 26% from 2018.

Networking

• 1,194 members attended the 2019 WSIA Underwriting Summit in National Harbor, MD.

• 323 members participated in the 2019 Automation Conference in Orlando, FL, now known as the Insurtech Conference.

• 5,049 members attended the 2019 WSIA Annual Marketplace in San Diego, CA, setting a record for the event.

• Hosted a successful 2019 U40 Annual Meeting in Nashville, TN with 204 attendees who gathered for networking, education and philanthropy.

Education and Professional Development Programs

WSIA offered 11 on-site education programs in 2019, with 718 participants.

• Excess & Surplus Lines 108 participants

• Underwriting Boot Camp 75 participants

• Consultative Selling and Negotiations 60 participants

• Marcus Payne Advanced E&S 61 participants

• Effective Coaching 25 participants

• Surplus Lines Management 54 participants

• WSIA University 300 participants

• Executive Leadership Summit 35 participants

• Online courses 617 participants

WSIA is committed to providing premier events, programs

and services to members, effective representation and

advocacy for the wholesale, specialty and surplus lines

industry at an exceptional service level. This report

highlights WSIA’s fiscal year 2019 financial position and

ac complishments, and it celebrates the strength and

relevance of the wholesale distribution system and the

wholesale, specialty and surplus lines industry.

The WSIA Board of Directors and professional staff

collaborate with a strong group of dedicated volunteers,

whose work ensures that WSIA membership delivers a

tremendous return on your membership investment.

WSIA COMMITTEE VOLUNTEERS BY THE NUMBERS

• WSIA’s 350 committee volunteers in 2019 have a combined 1,142 years of committee service

• 144 of those committee volunteers were new in 2019 • 45% are U.S. Wholesale Members • 37% are U.S. Insurance Market Members • 6% Associate Members • 11% Service Members • 26% are also members of WSIA’s U40

Every WSIA member plays an important role in maximizing the association’s relevance and effectiveness. We sincerely appreciate all members for all you give back to your association

and this incredible industry.

Brady R. Kelley, Executive Director

5,049 ANNUAL MARKETPLACEATTENDEES

718 ON-SITE EDUCATIONPARTICIPANTS

WSIA MEMBER SERVICES

WSIA Education Foundation • Provided financial support to two

education programs for WSIA members during the year.

• Committed a total of $105,000 to 21 students at 17 universities through the Derek Hughes Scholarship Program.

• Sponsored the 2019 AM Best Special Report – U.S. Surplus Lines Market Review. The report found:

+ Surplus lines premium of $49.9 billion, setting a record high; and

+ An increase of 11.2% in surplus lines direct written premium from 2017 to 2018.

• Maintained and improved the Associ-ate in Surplus Lines (ASLI) designation and conferred 78 designees in 2019, bringing the total to 2,512 since 1997.

• Continued financial partnership with Gamma Iota Sigma, focused on sustainable growth and diversi-fication of the insurance industry’s talent pipeline.

• Continued relationship with Georgia State University to improve awareness of the industry.

• Administered and supported three student symposiums.

• Raised $937,455 to support the work of the Foundation. The Foundation ended fiscal year 2019 with $12.7 million in assets.

Career Development, Internship and U40

• Placed 20 interns with 27 WSIA member firms for summer positions, and two interns with London hosts, with an investment of $319,193 from WSIA and significant investments from the WSIA member hosts.

• Reached more than 3,800 college students with WSIA’s career development message during 52 college visits, three symposiums and five Gamma Iota Sigma events, representing an increase of 28% of students reached over the prior year.

• Maintained WSIA’s U40 member-ship at 1,261.

Wholesale Value Advocacy and Communications

• Hosted 172,478 user sessions on www.wsia.org, with a total of 565,594 pageviews during the year.

• Invested $201,308 in the Wholesale Value messaging campaign in fiscal year 2019. The messaging campaign generating an estimated $168,093 in earned editorial placement, and approximately 2.47 million impressions through paid advertising.

• Delivered 144 WSIA newsletters and e-News updates to members, with an average open rate of 30%.

• Utilized social media to cross- promote WSIA News and events and provide members with an alternate way to learn about upcoming programs and opportunities.

REACHED MORE THAN 3,800COLLEGE STUDENTS HOSTED 172,478

USER SESSIONS ON WWW.WSIA.ORG

W S I A A N N U A L R E P O R T 2 0194

PETER BARRETTVincent Donahue/Charles McAlear Industry Award

Peter Barrett was honored with the

Vincent Donahue/Charles McAlear

Industry Award. As the association’s

highest distinction, the award honors

individuals who have made significant

contributions to the association and the

wholesale, specialty and surplus lines

industry. It is named after Vincent

Donahue and Charles McAlear who were

pioneers of our legacy organizations.

Barrett began his insurance career in

1976 and joined Bell & Clements in 1986

where he was appointed Managing

Director in 1989 and became Chairman

in 2004. During his tenure, his respon-

sibilities included all aspects of the

development and operations of Bell

& Clements, the strategic direction of

the Group, and chairing the various

company Boards.

He has been an active industry asso-

ciation participant throughout his career.

He served as a member of the AAMGA

Board of Directors and various NAPSLO

committees. Under his leadership, Bell

& Clements hosted a number of the

association’s London interns. His contri-

butions to our association and industry

are countless and he has been tireless in

promoting the value and good work of

the associations through his career.

BRENDA (BALLARD) AUSTENFELDEarle Dillard Award

Brenda (Ballard) Austenfeld, RT Specialty,

was honored with the Earle Dillard

Award, which honors the contributions

and outstanding service of a Committee

Chair. The award is named after Earle

Dillard who served as president of Bloss

& Dillard and as AAMGA President

from 1973-1974.

Austenfeld serves as co-chair of

WSIA’s Education Committee. Her

attendance at nearly every education

program was instrumental in her

leadership to the committee and WSIA

staff through the merger of our legacy

associations’ joint offerings. Austenfeld

has also been an outstanding champion

of the WSIA PAC and has been

dedicated to increasing contributions

to support its work. She has been an

active member of the WSIA Board of

Directors since 2016.

JAN SHEMANSKERichard Bouhan Legislative Advocacy Award

Jan Shemanske, Nautilus Insurance

Group, was honored as the Richard

Bouhan Legislative Advocacy Award

recipient, which honors individuals

whose advocacy helps advance the

legislative interests of the wholesale,

specialty and surplus lines industry. It

was created in 2006 in recognition of

Dick Bouhan’s outstanding legislative

work as Executive Director of the

association from 1988 to 2011.

Shemanske has provided a high

level of support and service to the

association at the state and federal

level. As a member of the Legislative

Committee since 2013, she has been a

tremendous asset to the association’s

legislative and regulatory uniformity goals

nationwide and key resource in the

association’s development of compliance

resources for the membership.

2019 AWARD HONOREES


BARBARA SIMPSONDana Roehrig Award

Barbara Simpson, Russell Bond & Co, Inc.,

and Chip Pecchio, RSUI, were honored with

the Dana Roehrig Award. Named after Dana

Roehrig who served as the second president

of NAPSLO, the award recognizes the efforts

of outstanding volunteers to one of the

association’s working committees. Serving as

co-leads in the merger of the AAMGA and

NAPSLO Education Committees, Pecchio

and Simpson invested a great deal of time

and energy to ensure the successful transition

of legacy AAMGA and NAPSLO education

programs. Their hard work and dedication

were key to the successful consolidation and

delivery of WSIA programs in 2017 and 2018.

Five WSIA members were

honored for their service

at the 2019 Underwriting

Summit for their outstanding

leadership to the industry

and the association.

SAVE THE DATE!

2020 Annual MarketplaceSeptember 13-16

San Diego, CA

2021 Underwriting SummitFebruary 28-March 3

Phoenix, AZ

TO VIEW A LIST OF ALL PAST WSIA AND LEGACY ASSOCIATIONS AWARD HONOREES, VISIT WWW.WSIA.ORG/AWARDS

CHIP PECCHIODana Roehrig Award


The Audit & Compliance Committee assists the Board in overseeing the association’s long-term financial health. The Committee oversees the periodic financial reporting and the annual independent audit. In addition, the Committee assists the association staff in managing the association’s investments and their performance in relation to established policies and benchmarks.

2019 KEY INITIATIVES AND ACCOMPLISHMENTS

• The Financial Review Subcommittee reviewed WSIA’s financial statements

on a quarterly basis and worked with WSIA staff to address any questions or

financial reporting issues that arose. The WSIA Board reviewed WSIA’s financial

statements on at least a quarterly basis.

• The Investment Review Subcommittee completed the process of consolidating

the two legacy investment portfolios to one management firm. The Subcommittee

reviewed quarterly investment reports from WSIA’s investment manager to ensure

compliance with the association’s investment policy statement and monitor

investment performance in relation to portfolio benchmarks.

• The Committee met with the independent auditors from Mayer Hoffman McCann

(MHM) and discussed results of the December 31, 2019 audit, including an

unmodified audit opinion, no material financial statement adjustments, and

no material weaknesses in WSIA’s internal control structure. The final audit

and correspondence regarding the audit and WSIA’s internal controls were

presented to the Board of Directors and all WSIA members at the 2020

Underwriting Summit.

2019 COMMITTEE MEMBERS

Chair Bryan Clark Gorst & Compass InsuranceGerald Ayash Western World Insurance GroupTony Constanzo XS Brokers Insurance AgencyJennifer Cunningham Atlantic Casualty Insurance Co.Jim Damonte Aon BenfieldWilliam A. Fink Delta General Agency Corp. Allison Kenworthy Nautilus Insurance GroupDuffy Koller AmTrust E&S InsuranceDoug Lang Western World Insurance GroupSnezana Obradovic Outsource Insurance Professionals, Inc. Patrick Porter MUSIC Jennifer Sanes Bass Underwriters, Inc.Lee Sjostrom RSUI

AUDIT & COMPLIANCE COMMITTEE


The mission of the Automation Committee is to plan and execute the wholesale insurance market’s only Insurtech Conference, formerly known as the Automation Conference; inform members about current industry technology issues by researching and developing technology news articles related to the surplus lines insurance industry; foster development and innovation of technology standards for the industry and members, and work with other industry organizations on technology initiatives impacting the surplus lines industry.


• Produced a successful Automation Conference in Orlando, FL

with 323 registered attendees. The event featured a keynote

presentation, education sessions, vendor tours, TED Talks and

networking opportunities for attendees.

• Began the process of renaming the Automation Conference to

the Insurtech Conference to more accurately reflect conference

content and focus for future attendees.

• Published periodic technology news updates for members that

highlighted session topics presented at the Insurtech Conference

(formerly Automation Conference), including some identified

by the Emerging Issues & Innovation Committee through the

Heat Map process as key issues for WSIA members.

Chair Shannon Dahlke Applegate MHI, a division of Worldwide Facilities, LLCLaura Allen Risk Placement ServicesGreg Blanford RT SpecialtyCristy Brewer Atlantic Casualty Insurance Co.Jason Brooks Western World Insurance GroupSam Carson Burns & WilcoxChuck Clemens Navigators Management CompanyBrad Craner ZurichAna Daves Hallmark Financial Services, Inc.Brian DeSoto Great American Risk SolutionsJude DiBattista QBEEric Douglas DMP BPOZachary Frederick Tuscano Agency, Inc.Joseph Gianzanti Bass Underwriters, Inc.Emily Hathcoat Risk Placement ServicesArvind Kaushal Insurance HouseLauri Klotz Ryan Specialty GroupKevin Maher Canopius GroupAsif Malik Risk Placement ServicesRobert McCallum MHI, a division of Worldwide Facilities, LLCRobert Michalski RT SpecialtyTammie Miller Hull & Company, Inc.Scott Montney Cochrane & Co.Nikola Nicic Outsource Insurance ProfessionalsVladimir Peraza CRC

Sam Pless MHI, a division of Worldwide Facilities, LLCMarie Reed Nationwide E&S/SpecialtyMike Roy RT SpecialtyScott Sauter AmWINS GroupStephen Shea Bass Underwriters, Inc.Blake Stock The Combined GroupChris Stratton Atlantic Casualty Insurance Co.Sarah Thacker Lloyd’s Tate Tooley Bloss & Dillard, Inc. Jason Wiley Nautilus Insurance GroupTerry Woodford IVANS Insurance Solutions

AUTOMATION COMMITTEE


Automation Conference Attendance by Year360

295

230

165

100 2017 2018 2019


The Career Development Committee’s mission is to network with WSIA members to create interest, awareness and enthusiasm about careers in the wholesale, specialty and surplus lines industry with bright, enthusiastic college students. The Committee encourages the exchange of educational and industry information and promotes professionalism while encouraging students and professionals to become more involved in the wholesale, specialty and surplus lines community.


• Raised awareness about industry career opportunities with presentations on 52 college campuses, reaching more than 3,800 students considering careers in insurance.

• Collaborated with the WSIA Education Foundation to present career fairs, symposiums and attend Gamma Iota Sigma conferences to interact with risk management students across the country about careers in the industry. WSIA continues to enhance these opportunities, with the addition of two new future symposiums and an increasing level of management and logistical support surrounding them.

+ Surplus Lines Symposium, Troy University – 193 students from 19 universities

+ Extreme Risk Takers Symposium, Illinois State University – 166 students from 19 universities

+ Wholesale & Specialty Insurance Symposium, Arizona State University – 87 students from 9 universities

• Hosted the WSIA White Paper Contest to expand surplus lines awareness and knowledge for risk management and insurance students. For the fall 2018 contest, 20 participants submitted research papers on one of three pre-selected topics – autonomous vehicles, cyber security, and digital currency (Bitcoin). In January, three winners were chosen who received $1,000 each and the opportunity to attend the WSIA Underwriting Summit with their faculty sponsor. For the spring 2019 contest, 12 participants submitted papers on three topics – drones, active shooter and product recall. Three winners were chosen in May who received $1,000 each.

• Produced a video to educate students about the wholesale, specialty and surplus lines industry and related career oppor-tunities and ways in which WSIA can help support their career exploration and development. The video will be used in campus presentations and on the WSIA website.

CAREER DEVELOPMENT COMMITTEE

Chair Tim Chaix RE Chaix & Associates Insurance Brokers, Inc.Josh Ammons AmWINS BrokeragePhil April Crum & ForsterJessie Berger Tennant Special RiskGeoffrey Bernardo Virtue Risk PartnersDevon Borisoff Monarch E&S Insurance ServicesAlyssa Bouchard Gamma Iota SigmaScott Burns XS Brokers Insurance AgencyGene M. Cain Transportation Insurance Experts Jeremy Chaseley AXIS CapitalGray Collier Bass Underwriters - AtlantaCallie Connor AmWINS AccessNicholas DeMarco All Risks, Ltd.Donald Dement Century Insurance GroupAleksandra Demnievska Outsource Insurance ProfessionalsDonald Derham Inter Insurance AgencyErin Dey JM Wilson CorporationBrett Dresner AmWINS Brokerage Ross Driscoll, Jr. National E&S Insurance Brokers, Inc.Lynne Fletcher CapSpecialtySamantha Fritch Worldwide Facilities, LLCShannon Gafford Hallmark Financial Services, Inc.Albert Geraci Risk Placement ServicesSteve Girard Markel WholesaleRebecca Gitig Aspen InsuranceRosalie Golz SCOR Reinsurance CompanyNick Graham Nautilus Insurance GroupMelanie Gross AmWINS Brokerage Mallorie Harper Argo Group/Colony SpecialtyRich Hartman Brit Global Specialty USAReagan Havens RSUIJohn Head Risk Placement ServicesEnya He Lloyd’s Dallas

Lindsey Knudson Crawford & CompanyCurtis Kochman Vital Insurance Partners, LLCVeronica Kuyoth Nationwide E&S/SpecialtyCam Le Markel AssurancePerri Leung CoverX Specialty Insurance ServicesLeslie Lloyd MHI, a division of Worldwide Facilities, LLCScott Mackie AXA XLMatthew Madar Great American Insurance GroupLogan McLain Hartford Steam Boiler Inspection & Ins.Margaret Melnik Zurich North AmericaDavid Miller Hallmark Financial Services, Inc.Jehane Myers Orchid Underwriters Agency, LLCChrista Nadler Risk Placement ServicesLeah Ohodnicki Argo GroupGreg Poorvin Mutual Boiler ReSean Power XS Brokers Insurance AgencyIrina Reym General StarJoshua Rubin Virtue Risk PartnersVanessa Ruiz Risk Placement ServicesLindsey Sessions American ReliableTom Skora Bass UnderwritersBrian Sloan Great American Insurance GroupMichael Spears Arch Insurance GroupYiana Stavrakis Monarch E&S Insurance ServicesBryant Steele Burns & WilcoxBrandon Stevis General StarLeonard Streeter Starr Surplus LinesAndy Swenson ZurichBen Tasse Sompo InternationalBuddy Taylor Burns & WilcoxCalvin Thompson All Risks, Ltd.Christine Werner, Faegre Baker Daniels LLP



The WSIA Education Committee is committed to providing high quality excess and surplus lines educational offerings that meet the professional development needs of WSIA members and associated industry constituents throughout their careers while also meeting the education curriculum mission.


• Continued to offer and refine education and career development opportunities that support WSIA members throughout their careers. WSIA offered 11 on-site education programs in 2019, with 718 participants and 617 participants in online courses.

• During 2019, 115 members and 169 students completed the Surplus Lines Fundamentals online program, developed in partnership with The Institutes. The Regulatory Compliance online course was completed by 333 members.

• Introduced a webinar series designed to enable member professionals to participate in educational opportunities remotely, with the first webinar being held in October 2019 on personal branding.

• Continued to offer more materials online in advance of programs to allow participants to prepare and share ideas in a streamlined way.

• The WSIA Scholarship Program provided scholarships to members from scheduled states to participate in WSIA schools. In 2019, five scholarships were awarded to members of the Illinois, Mississippi, New Jersey and Pennsylvania surplus lines associations.

EDUCATION COMMITTEE

Co-Chair Brenda (Ballard) Austenfeld RT SpecialtyCo-Chair Harry Johnson Johnson & Johnson, Inc.David Archiable Great American Risk SolutionsDeirdre Barbee MUSICChris Behymer Markel AssuranceWendy Bissonnette RT SpecialtyJennie Carr Arlington/RoeEvelyn Corrigan National E&S Insurance Brokers, Inc.Cara Delestienne USG Insurance Services, Inc.Erin Dolan RSUIRenee Eldridge Markel AssuranceJohn Farrey Burns & Farrey, P.C.Jennifer Fisher Hallmark Financial Services, Inc.Jillian Florian Y-RiskAngela Fylak Western World/Validus SpecialtyFelix Ganz Couch Braunsdorf Insurance GroupGlenn Hargrove All Risks, Ltd.Jeff Henry AmWINS BrokerageEric Huntley Bass Underwriters, Inc.Rachel Khatkhate Seneca SpecialtyRegina Kirwan General StarEric Koppang Everest InsuranceShawn Makowski Benchmark Management GroupJessica Marshall CRC

Rosemarie Marshall AmWINS AccessRobert McEwen The Parks Group, Inc.Matija Obradovic Outsource Insurance Professionals, Inc.Jamie Olson Nationwide E&S/SpecialtyRachel Pagliarulo General StarCole Palmer General StarChip Pecchio RSUIKandis Pinkstaff Maximum Independent BrokerageRick Pitts Arlington/RoeMonique Riley Markel AssuranceLuka Ristovic Outsource Insurance Professionals, Inc.Lora Robbins All Risks, Ltd.Chris Schramm Colony SpecialtyDanielle Sheridan Kinsale InsuranceBarbara Simpson Russell Bond & Co., Inc.Kristen Skender Jimcor AgenciesEsmeralda Temores Worldwide Facilities, LLCLisa Van Leuvan Risk Placement ServicesTeresa Vaughn Johnson & JohnsonBen Woodward Admiral Insurance Group



EMERGING ISSUES & INNOVATION COMMITTEE

The Emerging Issues & Innovation Committee serves the WSIA membership and wholesale insurance industry across all segments of the marketplace by collaboratively identifying, evaluating, discussing and providing useful knowledge that will enable the membership to better analyze, manage and underwrite emerging issues and trends.


• Conducted the first phase of the biennial Heat Map survey of members to identify developing trends in the surplus lines industry and define their influence on business. The format of the survey for the 2020 Heat Map was adjusted into two separate surveys to allow members a better way to bring new trends to the forefront for others to evaluate. The Heat Map identifies and illustrates predominant themes and is available to members and media. Findings are also incorporated into future planning for education program curriculum, member webinars and White Paper research topics.

• Published eight new or updated white papers on trending topics that identify how they’re impacting the wholesale, specialty and surplus lines industry. Those papers were made available on the committee web page that also includes relevant news articles for members. Those topics are:

+ Sharing Economy, Increasing Challenges in Workforce Dynamics, Industry Consolidation, Seamless User Experience, Increasing Political Volatility, Bitcoin and Cryptocurrencies, Internet of Things and Cannabis.


Chair Gary Tiepelman Western World Insurance GroupRobert Aheart RT SpecialtyKaren Alford Nationwide E&S/SpecialtyMichael Bachman SCOR Reinsurance CompanyRyan Collier Risk Placement ServicesDerek Crumpler AmWINS GroupKen Distel Atlantic Casualty Insurance CompanyMatthew Dunn JenCap HoldingsKyle Enderle Great American Insurance GroupDavid Enichen IFG CompaniesSteve Genett Navigators Management CompanyEmma Gros Liberty Specialty MarketsAlyssa Guerrieri Nationwide E&S/SpecialtyBryan Guilbeault All Risks, Ltd.Davie Holt Imperial PFSBarbara Ingraham Verisk Insurance SolutionsMitchell Jawitz Anderson and MurisonMike Jones SCUJoshua Korver The Insurance CenterDavid Laquidara Jimcor AgenciesJustin Lehtonen Worldwide Facilities, LLCMichael Marks Nationwide E&S/SpecialtyFrank Martino All Risks, Ltd.Matt Meyer Risk Placement Services Milos Rados Outsource Insurance Professionals, Inc.Mark Rector Lloyd’s New YorkSteven Tunks Oxford Insurance BrokersJoe Valenza Virtue Risk PartnersJessica Wehrum Bell & Clements Inc.Patrick White RSUI


EVENTS COMMITTEE

The Events Committee designs the industry’s premiere opportunities for members to network and participate in programs and presentations that are relevant to the surplus lines industry.


• Hosted the Underwriting Summit in National Harbor, MD, with 1,194 attendees. The event provided networking for the underwriting and delegated authority segment of the WSIA membership and an opportunity for the leadership of all member firms to collaborate on strategic issues facing the marketplace, a more relaxed, intimate environment in contrast with the much larger and faster-paced Annual Marketplace. Underwriting Summit included the return of an Opening Breakfast with keynote speaker, President George W. Bush, and the annual business meeting and awards recognition.

• Hosted the 2019 Annual Marketplace in San Diego, CA with 5,049 attendees, which was the largest on record. The event provided unparalleled networking opportunities in Brokers’ Lounges and The Club, U40-hosted education sessions and an opening reception for all attendees. The Annual Marketplace also featured a new opportunity for 179 Professional and Financial Lines specialists to attend and a special first-time rate to integrate their lines of business within the Marketplace and a Professional and Financial Lines Reception open to all attendees.

• Both events featured a Program Specialist Lounge, with

dedicated meeting space offering networking opportunities

for program specialists.

• Offered a sold-out Club, with reserved tables, at both the

Underwriting Summit and Annual Marketplace.

Co-Chair Davis Moore Worldwide Facilities, LLCCo-Chair Bryan Sanders MarkelLaura Beckmann AmRISC, LLCChris Bentley Hallmark Financial Services, Inc.Chris Boesing Great American Insurance GroupLynn Bordelon MHI, a division of Worldwide Facilities, LLCAdam Care Hartford Steam Boiler Inspection & Ins.Christie Claud Engle Martin & AssociatesKelly Cressy Provencher & CompanyVeronica Davis Atlantic Casualty Insurance Co.Mark Depperschmidt DMP BPOThomas Dillon AmWINSRandy L. Doss CRCDaniel Drennen Environmental Ins. ServicesSteve Dresner Crum & Forster Wholesale E&SDennis N. Dunne Trigon, Inc.Steve Eilers Gen ReShayna Fitzgerald Sompo InternationalChris Giadrosich OneBeacon Inland MarineDouglas Goode Align General Ins Agency, LLCDawn Gordon Brown & Riding Insurance

David Grimley Munich ReWendy Houser Markel AssuranceSean Jagroop South Bay Acceptance Corp - SBACPeter Kuchan Houston Specialty Insurance CompanyLindsey LeClair Risk Placement ServicesChris Leisz Risk Placement ServicesM. Stacey Long RSUIValerie Martin Brown & Riding InsuranceLJ Modafferi ZurichBrian Molusis Vital Insurance Partners, LLCStephen Nadeau Western World Insurance GroupNicole Noland Colony SpecialtyStacie O’Brien Resnick & Louis, P.C.Jennifer Quinones Aspen InsuranceKarla Rodriguez Bass Underwriters, Inc.Caryn Siebert AJG - Gallagher Bassett Lucas Snyder Snyder Specialty, LLCCoryn F. Thalmann Jimcor AgenciesSteve Tralongo Markel AssuranceBill Turgeon Bass Underwriters, Inc.Kent Watson Penn-America Group


Annual Marketplace Attendance by Year

5250

4500

3750

3000 2013 2014 2015 2016 2017 2018 2019

2019 Attendees by type:

U.S. Wholesale Members 39% 41%

U.S. Insurance Market Members 34% 21%

Associate Members 19% 16%

Service Members 9% 22%

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The mission of the Internship Committee is to attract bright, enthusiastic college juniors and seniors majoring in Insurance/Risk Management to our industry through the WSIA Internship Program.


• Placed 20 interns in the 2019 WSIA Internship Program, hosted by 27 member firms. The Intern Orientation Program continued to better prepare interns for the culture of the surplus lines insurance professional environment.

• Selected 10 WSIA interns to attend the 2019 Annual Marketplace who shadowed committee members during business meetings and networking events.

• Coordinated the 2019 J.H. Blades Scholars’ experience in London for Douglas Dick, Troy University graduate, and Jennifer Platt, Temple University graduate.

• Received and reviewed eligible applicants from 19 universities for the 2020 summer program and selected 21 interns.

Co-Chair Robert Greenebaum CRCCo-Chair Richard J. Schmitzer James River Insurance CompanyNick Abraham Markel AssurancePhil Adams SCUMatt Blessing RT SpecialtyBrett Blumencranz IFG CompaniesHeather Boemer R.E. Chaix & Associates Insurance Brokers, Inc.Chad E. Brown Alternative Risk CompanyGabe Carrieri XS Brokers Insurance AgencyTony Chimera Sompo InternationalLisa H. Collins Great American Insurance GroupDan Confalone Markel AssuranceJim DeSimone AXIS InsuranceGerald Dupre Hallmark Financial Services, Inc.Scott Epstein Scottish AmericanSteven Finver Risk Placement ServicesCharles Ford Sompo InternationalJulie Freeland CRCAnne Goldstein MUSIC/Selective InsuranceTroy Hidle All Risks, Ltd.Ben Hughes Vela Insurance ServicesKristin Jones AmWINS AccessKatie Katzman AmWINS BrokerageJennifer Kessel USG Insurance Services, Inc.

Jeff Lamb Markel AssuranceTravis Lankerd J.M. Wilson CorporationBrooke Leadbetter Worldwide Facilities, LLCAlexander Lehman James River Insurance CompanyAdam Mazan Risk Placement ServicesJonathan M. McKenzie Commercial Sector Ins. BrokersAlexis Meszaros Markel AssuranceAshby Moore Genesee GeneralKelsey Moore Worldwide Facilities, LLCJustin Orens Worldwide Facilities, LLCWilliam Palmer Arch InsuranceMatt Parkhurst Great American Insurance GroupHouston Pittman AmWINS AccessMeredith Scott RT SpecialtyAlex Silva RIC Insurance AgencyChad Thibodeaux AmWINS BrokerageChad Trainor Arlington/RoeMichael Vought IFG CompaniesZak Waldstein Zurich North AmericaLindsey Wingerning Liberty International UnderwritersMichelle Yuko AmWINS Brokerage

INTERNSHIP COMMITTEE



The Legislative Committee is dedicated to promoting the legislative and regulatory interests of WSIA members and the wholesale, specialty and surplus lines industry.


• Monitored state and federal legislative and regulatory activity with potential impacts to the surplus lines industry and provided members with updates and access to online legislative tracking tools throughout the year.

• Partnered with the Florida Surplus Lines Association (FSLA) and a coalition of WSIA members to modernize Florida laws and increase options for consumers, including reform of Florida’s surplus lines agent policy fee cap of $35.

• Continued to build upon the success of the Nonadmitted and Reinsurance Reform Act of 2010 (NRRA), including uniform implementation of the “home state” approach to regulation and taxation of surplus lines transactions in Hawaii, New Hampshire and Vermont to tax 100% of a surplus lines policy at the rate of the insured’s home state. This brings the total to 51 jurisdictions in compliance with the NRRA home state tax provision, with only Florida not fully complying.

• Hosted Legislative Fly-In in Washington D.C. for members of WSIA’s Executive Committee, Legislative Committee, PAC Committee and U40 Board and held 36 meetings with members of Congress and their senior staff to provide surplus lines education and advocate for insurance legislative issues of importance to the membership. Topics of focus included:

+ General education about the wholesale, specialty and surplus lines industry, the types of products it offers and ways in which it is accessed;

+ Reiterating the importance of The National Association of Registered Agents and Brokers (NARAB) and urging Congress to see that it becomes operational;

+ Asking for quick consideration on the reauthorization of the Terrorism Risk Insurance Program Act (TRIA) reauthorization well in advance of its December 31, 2020 expiration, which was accomplished in December 2019;

+ Advising offices of the continued need for clarification of the federal definition of private flood insurance proposed in previous legislation, H.R. 1422/S. 563, the Flood Insurance Market Parity and Modernization Act, in addition to the clarifications made by federal banking agencies in their Final Rule regarding acceptance of private flood insurance; and

+ Asking for continued protection for the Nonadmitted and Reinsur-ance Reform Act of 2010 (NRRA) during discussions to reform the Dodd-Frank Act.

• Led coalition of interested industry members in coordination of 61 members of Congress to deliver bipartisan, bicameral letter to White House regarding need for action on NARAB appointments.

Co-ChairBruce Kessler WestchesterCo-ChairDave Obenauer CRCNeal Abernathy Peachtree Special Risk BrokersTom Albrecht Associated Insurance Administrators, Inc. Frank Alerte Brown & Brown Insurance - WholesaleErin Bagley Coverys Specialty Insurance CompanyMichael Blackshear Ryan Specialty GroupMichael Byrne McDermott Will & Emery LLPKathy Colangelo Hull & Company, Inc.Christie Corado CRCScott Culler Markel AssuranceTom DeCotis DeCotis Specialty InsuranceDavid DeMott Gridiron Insurance UnderwritersBill Evans All Risks, Ltd.Rich Fidei Greenberg TraurigSeth Fischer CapSpecialtyTroy Fornof MacNeill GroupMason Girard All Risks, Ltd.Hank Haldeman Worldwide Facilities, LLCRob Halsey Western World Insurance GroupLawrence R. Hamilton Mayer Brown LLPSteve Herman Nationwide E&S/SpecialtyAmicia Hine MHI, a division of Worldwide Facilities, LLC

Gary Hollederer Russell Bond & Co., Inc.Kori M. Johanson H.W. Kaufman GroupAlan J. Kaufman Burns & WilcoxChristopher Lewis IFG CompaniesDaniel F. Maher ELANYMark Maucere Arlington/RoeYusuf Mayet Worldwide Facilities, LLCPhillip McCrorie RSUI Benjamin J. McKay Surplus Line Association of CAKathy McVaney AmWINS GroupHugh Mooney All Risks, Ltd.Lindsay Moore Worldwide Facilities, LLCCatherine Moran Clark Navigators Management CompanyJason Murrey RT SpecialtyConor O’Leary Shelly, Middlebrooks, & O’LearyDavid L. Ocasek Surplus Line Association of ILRobert Owens WestchesterLana S. Parks The Parks Group, Inc.Joseph Powell Powell & Roman, LLCJames A. Roe Arlington/RoeAnthony Roehl Morris, Manning & Martin, LLPRobert Sanders, Jr. Preferred Specialty, LLCKathy Schroeder Sierra Specialty Insurance ServicesJan Shemanske Nautilus Insurance Group

LEGISLATIVE COMMITTEE

2019COMMITTEE MEMBERS


MEMBERSHIP AND ETHICS COMMITTEE

The Membership & Ethics Committee’s mission is to recommend new members to the Board of Directors according to the schedule selected by the Board each calendar year. This includes recommendations for voting members: U.S. Wholesale Members, U.S. Insurance Market Members and Associate Members as well as non-voting members: Service Members, Life Members and Honorary Members.


• During 2019, the committee reviewed 76 new membership applications and approved 22 U.S. Wholesale applications, 9 U.S. Insurance Market applications, 4 Associate and 35 Service Member applications.

• Continued the refinement of online membership applications that enable prospective members to more efficiently complete applications and references, as well as streamline the membership application review process.

Chair Patrick Albrecht Associated Insurance Administrators, Inc. Neil Baker Shepherd Compello LtdKevin Bolger Afco DirectAndrew Bown RFIB Group LimitedJim Dowdy RSG Underwriting Managers LLCRoss Driscoll National E&S Insurance Brokers, Inc.Peggy Dronet Mississippi Surplus Lines Assn.Jeff Fields Markel AssuranceLindy Gardner Admiral Insurance GroupAndrew Grim Brown & Riding InsuranceRobert Itzinger RT SpecialtyMichael James Chesterfield Insurance BrokersNeil Kessler CRC

Matt Lynch Risk Placement ServicesTony Madden AmTrust E&S InsuranceCarlton Maner AXIS InsuranceMelissa Mears AmWINS/SRULarry Milburn Crawford & CompanyCraig Perloff Bass Underwriters - Gulf CoastMilica Rajkovic Outsource Insurance Professionals, Inc.Jeff M. Short Brown & Riding InsuranceEric Stuckman Worldwide Facilities, LLCKevin Sullivan AXA XLKathy Szur Houston Specialty Insurance


Service187

U.S. Wholesale323

Associate88

U.S. Insurance Market126

US Wholesale Members 323

U.S. Insurance Market Members 126

Associate Members 88

Service Members 187

Total Member Firms 724

992 branch offices 1,716 total offices

WSIA MEMBERS BY TYPE


POLITICAL ACTION COMMITTEE

The PAC Committee raises awareness within the WSIA membership regarding the efforts and focus of the WSIA PAC. The federal PAC was established in 2005 and is critical to WSIA’s legislative and regulatory advocacy efforts. The PAC Committee supports candidates for the U.S. House of Representatives and Senate whose philosophies and attitudes are consistent with the goals of WSIA, the surplus lines industry and the wholesale brokerage system.


• Received $178,845 in contributions from 348 individual contributors, setting another record year for contributions to the PAC.

• Contributed $112,500 in 2018 to federal candidates whose philosophies are consistent with WSIA members’ goals for the surplus lines industry.

• Enhanced efforts to raise awareness about the purpose of the WSIA PAC with all WSIA members, and the importance of member support, with more targeted messaging in WSIA publications and an enhanced presence on the WSIA PAC website. Also utilized new text-to-pledge technology during WSIA Committee Day to facilitate contributions.

Cliston Brown Surplus Line Association of CaliforniaShaun Clifford Faegre DrinkerTimothy Drag Starr Surplus LinesMimi Fiske Markel AssuranceDaniel Furman Hall & Evans, LLCJim Hemphill Markel AssuranceHannah Huggins Risk Placement ServicesK. Pierson (Pierce) Jones Hanover ExcessFred E. Karlinsky Greenberg Traurig

Daniel J. Kaufman Burns & WilcoxMick Kroll AmWINS Group, Inc.Henry A. Lopez Navigators Management Co.Eddie Mauro UIG

PLATINUM - $5,000Nick CorteziSteve DeCarloRupert HallAlan KaufmanDave LeonardDavis MooreMatthew NicholsMichael RicePatrick RyanTim TurnerGOLD - $2,500 to $4,999 Joel CavanessJames DrinkwaterBob GreenebaumGil HineHarry JohnsonDanny KaufmanBruce KesslerBrendan MulshineLana ParksBryan SandersJacque SchaendorfRichard SchmitzerKeith ShearerSILVER - $1,000 to $2,499 Josh AmmonsBrenda (Ballard) AustenfeldBen BeazleyLynn BordelonSandra BreedloveDavid BrinkerhoffErik DavisSteven FabricantMimi FiskeMatt GaltneyChad HallHartford PACAmicia Hine

Wendy HouserChris HouskaAlex JezerskiCorinne JonesFred KarlinskyBrady KelleyJeff LejferChristopher LewisSarah LinLen LoVulloEddie MauroEdward McCormackPhillip McCrorieMike MillerHugh MooneyDave ObenauerDave PietrowskiMarya PropisScott PurvianceJim RoeRajan ShahScott SmithPaul SpringmanFred StevesAndrew ThompsonBRONZE - $250 to $999 Nick AbrahamPatrick AlbrechtLaura AllenChona AllisonScott AndersonErin BagleyRonald BalcarSteve BeardLaura BeckmannLee BransonJason BryantMike ByrneTim ChaixDavid CharltonLorrie CheshierTony ChimeraBryan Clark

John ClarkeShaun CliffordDan ConfaloneWil CooperPeter CostolnickTrent CoxScott CullerShannon Dahlke ApplegateDaniel DeCastroDonald DeisingJim DeSimoneRandy DossJim DowdyKristin DowneyTim DragSheryl EckingerRenee EldridgeCasey EvansRich FideiJennifer FlakeLynne FletcherWilliam FlorosTroy FornofTish FournetMichael FranzeseDan FurmanMichael GaborRobert GassenSteve GirardRich GoblerMichelle GoldmanDiane GriffinAndrew GrimRyan GrimesGlenn HargroveJohn HeadJim HemphillSteve HoodYasser HusseinKori JohansonSeth JohnsonPierson JonesSteve KassKeri Kish

Mick KrollJeff LambCam LeMatt LotfeySteven LoVulloDave LupicaMatt LynchDan MaherFrank MastowskiMark MaucereRobert McEwenChris McGovernKelsey MooreLindsay MooreChristopher MorrisKen MosesBrad MossDaniel MuldowneyJason MurreyWilliam NicholsClint NokesDavid OcasekConor O’LearyRobert OwensMarcus PayneJay PellegriniRob PolanskyJoe QuigleyEric QuinnLora RobbinsDave RobertsGreg RubelFranklin SandersRobert Sanders, Jr.Kathy SchroederRyan ScottJan ShemanskeTiffany ShillitoLee SjostromJeff SlivkaStephanie SmithsonBryant SteeleRon StierstorferRichard StrattanBuddy Taylor

Gary TiepelmanJake TimminsMike TracyChad TrainorKip UlmerDanielle WadeBill WilkinsonBrad WoodDavid WoodJohn Wood CONTRIBUTOR - less than $250 Judy BachledaFrank BaronLaura BatesJosh BlevinsLinda BobroChanelle BokelbergBrandon BoydMatt BradyCliston BrownMartha BuretzMaggie CahillLawrence CalhounCraig CarpenterAmber CarverShannon ClantonRobbie ClementeDeborah ColemanRyan CollierBrendan CookEvelyn CorriganDerek CrumplerMaya CruzPeter CurninJane DalliBlaise DAntoniLynley DarkowSteve DavisAndrew DeanDiana DeMentDonald DeMentDavid DerigiotisErin Dey

Jeff DiefenbachDonna DoddKevin DonoghueDennis DonovanDarren DooskinJustin DormanKevin DoyleRoss Driscoll Jr.Kortney EidsonColleen EssexIan FikeVicky FlemingJake FlemingVincent FlemmingAllison FloresCharles FordJulie FritzMarc FuhrmanThomas GarlandBill GatewoodAlbert GeraciFrank GiarratanoMason GirardHarvey GoldenbergAlan GoldfarbJustin GoldfarbJohn GoolsbyAlison Green Steve GrossLaura GuthingerBret GuthrieSheila HaileyHank HaldemanTimothy HankeVincent HarrisCraig HawkinsMatt HazelettSusan HendersonSteve HestonTroy HidleDebbie HillKeith HinsonWilliam HoughtonNicole HuckstorfHannah Huggins

Lorelei JohansenMike JonesJodie Kaufman DavisJustin KotrlaMarie KovacikCraig LassChris LeiszJason LentzSteve LevinLeslie LloydTerry LoeselSteven LooftHenry LopezClint LynnJason LyonsScott MackieTim MakowskiShawn MakowskiAsif MalikEmmanuel ManuelidisRich MarburgDenise MarshallJessica MarshallRich MartinoAdam MazanDan McCarthyCharles McCloskeyBen McKayJonathan McKenzieKathy McVaneyJohn MeetzMark MelanderKay MillerJim MitchellMike MitchellHunter MorganAndrea NashBrian NebelBetty NettesheimJules O’ConnorTom O’DonnellSylvia OrnelasRachel PagliaruloJean PattersonChip Pecchio

Jo Ann PeriAaron PfisterElizabeth PicheJimmy ProffittRyan PurdyRex ReganPatrick ReillyJim RicciKyle RickettsBrian RiehlElmer RiveraGreta RobertsJeff RobinsonRiaan RouxJennifer RubinAmanda RuppelScott SauterJoe SherryKristen SkenderBrittany SkilesBrian SloanRob SmithVeda SmithJ.C. SparlingMike SpinazzolaYiana StavrakisBonnie SteenShannon StefanskiJoel StinsonAngela TamAdam TerryCoryn ThalmannChris TimmermanSteve TralongoJennifer TrubyChelsie TysdalJosh VengleyPatrick WhiteBarry WhittonLindsey WingerningSarah WirtzMichelle YoungJill ZaunerChris Zoidis


2019 W

SIA PA

C C

ON

TRIB

UTO

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WSIA FINANCIALS

Among the key benefits of the AAMGA and NAPSLO merger were refinement of three existing networking events to more effectively meet the needs of members and generate significant cost efficiencies (time and travel) for members and synergy and cost savings by combining the management of two existing organizations. In 2018, its first full fiscal year, WSIA reported total revenues of $8.9 million and total expenses of $8.2 million, representing planned decreases of 8.9% and 11.4%, respectively, from the combination of the AAMGA and NAPSLO’s separate operations in their fiscal years ending June 30, 2017 and July 31, 2017, respectively, and delivering on the planned cost savings and efficiencies of the merger. WSIA’s strong financial position in 2018 and continued growth in 2019 allowed the association to expand its investment in program services by 14%, represented by growth in the Annual Marketplace, the reintroduction of the Opening Breakfast, keynote speaker and other enhancements to the Underwriting Summit, and continued growth in other WSIA events and education programs. Our investment in committee activities grew by 27%, allowing expansion of the WSIA Internship Program and career outreach, the association’s partnership with the Florida Surplus Lines Association to successfully reform Florida’s prescriptive cap on broker policy fees, growth in committee volunteers and our annual Committee Day event and the WSIA Board of Director’s focus on strategic planning initiatives. Offsetting these additional investments was 7% growth in program service revenue for increased attendance at WSIA networking events and education programs and the $1.3 million return on WSIA’s long-term investments, following the small investment loss experienced in December 2018. As a result, WSIA

closed its 2019 fiscal year in strong financial position with net assets of $12.4 million, representing an operating reserve of 128%. The WSIA team and board continue to carefully review and benchmark the association’s operating reserve to maintain the appropriate financial strength to invest in services and resources to enhance the value of WSIA’s benefits to members and to combat any future risks in the association’s operations. The association’s strong financial position will support continued investment in valuable services in the areas of wholesale value messaging, regulatory and legislative advocacy and growing education and career development programs for WSIA members in the years to come. WSIA’s financial statements were reviewed by independent auditors, Mayer Hoffman McCann P.C. Their report included an unmodified audit opinion, no material financial statement adjustments, and noted no weaknesses in WSIA’s internal control structure.

“ WSIA’s strong financial position

in 2018 and continued growth

in 2019 allowed the association

to expand its investment in

program services by 14%…”


WSIA BALANCE SHEET WSIA INCOME STATEMENT

Dec. 31, 2019 Dec. 31, 2018

Assets

Cash $ 3,353,479 $ 2,930,341

Investments 11,605,148 9,889,956

Receivables 165,795 510,748

Prepaid Expenses 396,301 463,402

Property and Equipment 140,741 133,741

Total Assets $ 15,661,464 $ 13,928,188

Liabilities and Net Assets

Liabilities

Accounts Payable $ 159,309 $ 195,130

Accrued Expenses 236,179 139,931

Deferred Rent 73,904 71,066

Funds Held for Others 44,229 69,943

Deferred Revenue 2,740,389 2,639,791

Total Liabilities $ 3,254,010 3,115,861

Net Assets

Unrestricted 12,407,454 10,812,327

Total Liabilities

& Net Assets $ 15,661,464 $ 13,928,188

For the For the Year Year Ending Ending

Dec. 31, 2019 Dec. 31, 2018

Revenues

Membership Dues $ 2,795,212 $ 2,765,858

Program Service Revenue 6,825,530 6,393,299

Total Revenues 9,620,742 9,159,157

Expenses

Program Services 6,054,956 5,295,331

Committee Activities 1,939,123 1,526,723

General and Administrative 1,337,025 1,370,247

Total Expenses 9,331,104 8,192,301

Investment Income 1,305,489 (271,748)

Change in Net Assets 1,595,127 695,108

Net Assets, Beginning of Year 10,812,327 10,117,219

Net Assets, End of Year $ 12,407,454 $ 10,812,327


LEADERSHIP

Harry Johnson Johnson & Johnson Inc.Charleston, SC

Bruce KesslerWestchesterAlpharetta, GA

Dave ObenauerCRC GroupCharlotte, NC

Richard SchmitzerJames River Insurance CompanyRichmond, VA

Gary TiepelmanWestern World Insurance GroupScottsdale, AZ

U40 REPRESENTATIVEJosh AmmonsAmWINS GroupCharlotte, NC

2019-2020 EXECUTIVE COMMITTEE

BOARD OF DIRECTORS

Lynley DarkowSenior Marketing AnalystVicky FlemingAdministrative Assistant/Registration ManagerJulie FritzDirector of OperationsSusan HendersonDirector of Marketing & CommunicationsDebbie HillDirector of Meetings & ConventionsLindsay HollandProject CoordinatorBrady KelleyExecutive DirectorKeri KishDirector of Government Relations

Chelsea LenhartEducation Program and Events ManagerDenise MarshallOffice ManagerJohn MeetzSenior State Relations ManagerGreta RobertsControllerEmily StubbsSenior AccountantChris TimmermanCareer Development Programs ManagerJosh VengleyTechnical Manager

WSIA STAFF

PRESIDENTJoel CavanessRisk Placement Services, Inc.Rolling Meadows, IL

VICE PRESIDENTBryan SandersMarkelGlen Allen, VA

SECRETARYDavis MooreWorldwide Facilities, LLCLos Angeles, CA

TREASURERBryan ClarkGorst & Compass InsuranceChatsworth, CA

Patrick AlbrechtAssociated Insurance Administrators, Inc.Montgomery, AL

Shannon Dahlke ApplegateMHI, a division of Worldwide Facilities, LLCHouston, TX

Brenda (Ballard) AustenfeldRT Specialty Naples, FL

Tim ChaixR.E. Chaix & Associates Insurance Brokers, Inc. Irvine, CA

Robert GreenebaumCRCChicago, IL

Wendy Houser MarkelDallas, TX

IMMEDIATE PAST PRESIDENTJacqueline SchaendorfInsurance HouseAtlanta, GA


WSIA PAST PRESIDENTSYEAR

2018-19 Jacqueline M. Schaendorf2017-18 Corinne Jones

LEGACY ORG. PAST PRESIDENTSYEAR AAMGA NAPSLO

2017 Corinne Jones2016-17 Ed Levy Dave Leonard 2015-16 Roger Ware Gil Hine2014-15 Matthew Letson Hank Haldeman2013-14 Francis Mastowski Kevin T. Westrope2012-13 R.C. Chaffin Matthew D. Nichols2011-12 Wayne Forest, Sr. Robert T. Sargent2010-11 Mark Rothert Letha E. Heaton2009-10 Curtis Anderson Marshall P. Kath2008-09 Euclid Black John F. Wood2007-08 Thomas K. Albrecht Mary Ellen Rozzell2006-07 Scott Anderson William H. Newton2005-06 Francis Johnson Lawrence M. Wesson, Jr.2004-05 Joseph P. Hutelmyer Richard L. Polizzi2003-04 Ronnie C. Moore H. James Griffith2002-03 Robert S. Giles Nicholas D. Cortezi2001-02 Baron D. Garcia Tapley O. Johnson, Jr.2000-01 Leonard T. LoVullo John K. Latham1999-00 James A. Roe Timothy M. Pedersen1998-99 Paul Davis Orville D. Jones1997-98 James Ryan Paul W. Springman1996-97 Charles T. Deering Gary D. Westphalen1995-96 Preston H. Gough Jr. Maureen C. Caviston1994-95 Victor D. Giordano Eugene J. Eisenmann1993-94 Ed Calabrese David R. Hartoch1992-93 Fred Steves Robert B. Angle1991-92 Thomas B. Rogan Kurt C. Bingeman1990-91 Gregory A. Allgeier Joseph D. Timmons1989-90 Louis A. Williams Kevin P. Brooks1988-89 Peter B. Scobie Thomas S. Bloom1987-88 Wesley C. Duesenberg, Jr. T.C. ‘Skip’ Anderson1986-87 Robert P. Welch Robert P. Keul1985-86 Avrohm I. Wisenberg Jeremy D. Cooke1984-85 Louis T. Mastos Neil H. Strickland1983-84 Marie E. Welch A. Norman Dubois1982-83 Ray R. Johnston Anthony F. Markel1981-82 Joseph A. Howse Roy B. Oddy1980-81 David F. Anderson John H. Crowther1979-80 Wesley C. Duesenberg, Sr. James H. Bryson1978-79 Arnold E Bergener Mitchell Gwinn, Jr.1977-78 Joseph Distel W. Dana Roehrig1976-77 Donald S. Dreher Charles A. McAlear1975-76 Joseph R.Morford Charles A. McAlear 1974-75 M.S. Doughtery, Jr. 1973-74 Earle S. Dillard

YEAR AAMGA

1972-73 Herman M. Lewis 1971-72 Roger A. Richter 1970-71 Douglass G. Snyder 1969-70 James M. Wilson, Jr. 1968-69 W.E. Kingsley, Sr. 1967-68 Earl H. Jones 1966-67 William R. Bruce 1965-66 A.C. Boncutter 1964-65 John H. Crowther 1963-64 George W. Hardin 1962-63 Alvin Shepherd 1961-62 John A. Bunting 1960-61 Reed Pennington 1959-60 Langdon C. Quin, Jr. 1958-59 Aymar W. Marshall 1957-58 Joseph A. Rogers 1956-57 F.W. Brundick Jr. 1955-56 Barney Vanston 1954-55 Carl N. Homer 1953-54 Jules E. Simoneaux 1952-53 J. Leonard Brown 1951-52 H.E. Cragg 1950-51 Sam H. Stewart 1949-50 S. Linton Smith 1948-49 Stuart H. Richardson 1947-48 Phillip D. Richards 1946-47 Frank H. Duff 1944-46 F.J. Pelletier 1943-44 S. Lewis Johnson 1941-43 George E. Edmondson 1940-41 Stuart B. Scruggs 1939-40 Fred R. Lanagan 1938-39 L.B. Daniels 1937-38 Louis E. English 1936-37 W.L. Braerton 1935-36 Bernard P. Carter 1933-35 Henry A. Stecker 1932-33 Langdon C. Quin 1931-32 J.K. Shepherd 1929-31 Herbert Cobb Stebbins 1928-29 J.G. Leigh 1927-28 Jas. B. Ross 1926-27 Thomas L. Lauve

PAST PRESIDENTS COUNCIL

The Past Presidents Council

provides counsel to the

current WSIA President and

Board of Directors on issues

and assists with special

projects as needed. A

number of Past Presidents

remain actively engaged in

the industry and activities

of the association. This

wealth of knowledge,

experience and leadership

is critically important and

valuable to the WSIA Team,

Officers and Board of

Directors in ensuring the

continued success of

the organization and its

membership services

and operations.

THE PAST PRESIDENTS COUNCIL


ANNUAL REPORT

2019

4131 N. Mulberry DriveSte. 200Kansas City, MO 64116816.741.3910www.wsia.org

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