Credit Insurance Expert

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Credit Insurance Expertise of William D. Hager

My credit insurance expertise is grounded in the following background and my related understanding: (i) the regulation of credit insurance, (ii) credit insurance itself, (iii) credit insurance companies and their duties and obligations in particular as to their policies and claim settlement practices and (iv) the duties and obligations of credit/insureds as to such matters. Set out below is specific expertise as to these matters.

Brief Summary of Applicable Credit Insurance Expertise

Applicable Credit Expertise: Regulatory. My expertise as a credit insurance expert can be found as follows.  I am a former:

  • Commissioner of Insurance (Iowa);
  • First Deputy Commissioner of Insurance; and
  • Assistant Attorney General assigned on a full time basis to the Department of Insurance (Iowa). In this capacity I functioned as the Department’s general counsel.
  • Administrative Law Judge, f/k/a Hearing Officer;
  • Member of the National Association of Insurance Commissioners (NAIC) and Member of its Executive Committee;

In those capacities, on a daily basis, I had full regulatory oversight and responsibility for and the application of (i) the regulation of credit insurance, (ii) credit insurance itself, (iii) credit insurance companies and their duties and obligations in particular as to their policies and claim settlement practices and (iv) the duties and obligations of credit/insureds as to such matters.

It should be noted that because the credit insurance business is conducted across state lines and more specifically, nationally, the rules and regulations (by whatever name) are substantially similar state over state. My point is that my experience is substantially similar to parallel experience and positions in every other state (e.g., the Commissioner of Insurance). This experience is bolstered by my 40 years of direct insurance experience, including that of being a CEO of a major property casualty entity doing business throughout the U.S., and my six years of experience as an elected Member of the Florida House of Representatives where I currently serve as Vice Chairman of the Insurance Committee, with statutory and legislative oversight over the credit insurance business, which, as stated, is regulated in Florida much as it is in the balance of the states.

Set out below is specific expertise as to these matters.

Applicable Credit Expertise: Legislative. In addition to my regulatory background, I have served or am serving in the following capacities, each of which included daily knowledge of and interaction with credit insurance as it related to (i) the regulation of credit insurance, (ii) credit insurance itself, (iii) credit insurance companies and their duties and obligations in particular as to their policies and claim settlement practices and (iv) the duties and obligations of credit/insureds as to such matters. Set out below is specific expertise as to these matters.

  • Legal Counsel to the Iowa House of Representatives;
  • Chief of Staff at the U.S. House of Representatives,
  • Elected Member of the Florida House of Representatives (I am currently serving my 6th year in the Florida House of Representatives as of 2015), where I serve as a Member and Vice Chairman of the Insurance Committee (among other committees), which has legislative oversight over all insurance operations in the state (as administered by the Florida Office of Insurance Regulation) including those relating to credit insurance;
  • In addition, I have sat on and served as Vice Chairman of the Civil Justice Subcommittee of the Florida House, which has responsibilities as to Florida laws that establish (among other things) liability, which is of course the foundation to credit insurance,
  • Elected Member of the Boca Raton City Council; Deputy Mayor of the City of Boca Raton, where I served as the Council’s lead on insurance issues;

Applicable Credit Expertise: Industry. In addition to my regulatory background and my legislative background as to credit, I have served or am serving in the following capacities, each of which included daily knowledge of and interaction with credit insurance in the following ways: (i) the regulation of credit insurance, (ii) credit insurance itself, (iii) credit insurance companies and their duties and obligations in particular as to their policies and claim settlement practices and (iv) the duties and obligations of credit/insureds as to such matters. Set out below is specific expertise as to these matters.

  • American Academy of Actuaries, Washington, D.C., (whose members are often intimately involved in credit insurance) where I served as General Counsel and Chief Lobbyist;
  • President and Chief Executive Officer of the National Council on Compensation Insurance (NCCI), a major U.S. property casualty insurance company doing business throughout the United States, including Florida, which is where NCCI is domiciled and employs about 1,000 personnel. While CEO, this position entailed responsibility for pricing some $100 billion of property casualty insurance premium;
  • Nationally certified Reinsurance Arbitrator (ARIAS-US), where I sit as an arbitrator on disputes between (among others) insurers and their reinsurers and enter decisions as to credit insurance,
  • Attorney practicing primarily in the area of insurance and reinsurance and admitted to practice in Florida, Illinois, and Iowa (all upon examination) with an insurance practice; (The Illinois license is in inactive status, placed there by me at my volition and eligible for reactivation at any point in time upon my request.)

Applicable Credit Expertise: Legal. In addition to my regulatory, industry and legislative background, I have served or am serving in the following legal capacities, each of which included daily knowledge of credit insurance in the following ways: (i) the regulation of credit insurance, (ii) credit insurance itself, (iii) credit insurance companies and their duties and obligations in particular as to their policies and claim settlement practices and (iv) the duties and obligations of credit/insureds as to such matters. Set out below is specific expertise as to these matters.

  • As stated above, I am an attorney admitted to practice in Florida, Illinois (inactive) and Iowa (all upon examination) with an insurance practice;
  • Legal Counsel to the Iowa House of Representatives;
  • Practicing attorney at Hager & Schachterle;
  • Iowa Counsel to the Property Casualty Insurance Association of America (PCI), many of whom (but not all) sell credit insurance.
  • Legal Counsel to the Professional Insurance Agents of Iowa (property casualty agents, who sell among other products, credit insurance);
  • Legal Counsel to the Iowa Association of Life Underwriters (credit, life, health and annuity insurance agents).
  • Practicing attorney (currently) in Florida at the Hager Law Firm;
  • General Counsel and Chief Lobbyist to the American Academy of Actuaries, whose members are often involved in credit insurance matters, particularly from a pricing and policy language standpoint;

Applicable Credit Expertise: Formal Education as a Basis for Credit Expertise. In addition to my regulatory, legislative, industry and legal background, my educational background has also well-equipped me to provide credit expertise as follows:

  • Bachelors degree: Mathematics - University of Northern Iowa; (specifically a B.A. in secondary mathematics education)
  • Masters degree: Educational Psychology, University of Hawaii; and
  • Juris Doctorate degree (law degree) from the University of Illinois;
  • Bar Admission: U.S. Supreme Court;
  • Bar Admissions, the states of Iowa, Illinois (inactive) and Florida, all by examination;
  • Certified U.S. Reinsurance and Insurance Arbitrator;

In the aggregate, these experiences have given me a significant grounding to provide expert credit insurance testimony. Click on the link to read more detail as to my bad faith/unfair claims expertise, with that to be read in conjunction with my curriculum vitae as available elsewhere.

bill

William D. Hager

Insurance and Reinsurance
Expert and Arbitrator

561-306-5072


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