Self-insurance has been in use for a long time within the insurance context. Indeed self-insurance generally exists in any entity with exposure to loss who does not purchase traditional insurance (absent the use of some other insuring mechanism). That entity is in fact self-insured whether by choice or happenstance. Indeed, before the advent of organized insurance companies, all organizations or individuals were “self-insured” for loss.
I have gained self-insurance expertise from the outset of my insurance career to entities self-insuring specified exposures. Within the insurance industry today, one most frequently encounters self-insurance in a formal way in connection with an entity certifying its ability to meet specified exposure and related loss from that exposure through their status of being self-insured.
Most frequently the status is certified to state and federal agencies who require traditional insurance as a condition to a license, certificate or permit. In lieu of traditional insurance, the applicant states that they are “self-insured” for the risk in question and typically provide their financial reports together with their application as a self-insured. The agency evaluates the application and the financials in order to reach a conclusion that the applicant can or cannot meet the future losses through their own financial resources. As stated, I have dealt with and encountered and administered self-insurance programs at most every level and position I have held within the insurance industry and possess expertise as to self-insurance. Set out below is a summary of my related self-insurance background.
Applicable Self-Insurance Expertise: Regulatory. My expertise as to these matters 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)(Functioning 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 insurance, (ii) self-insurance and (iii) self-insurance entities and their duties and obligations.
Applicable Self-Insurance Expertise: Legislative. In addition to my regulatory background, I have served or am serving in the following legislative capacities, each of which included daily knowledge of and interaction with self-insurance as it related to (i) the regulation of insurance, (ii) self-insurance and (iii) self-insurance entities and their duties and obligations.
- 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 (currently)(I am currently serving my 5th year in the Florida House of Representatives) 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 self-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, including that relating to self-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 Self-Insurance Expertise: Industry. In addition to my regulatory background and my legislative background as to self-insurance, I have served or am serving in the following capacities, each of which included daily knowledge of and interaction with self-insurance in the following ways: (i) the regulation of insurance, (ii) self-insurance and (iii) self-insurance entities and their duties and obligations.
- American Academy of Actuaries, Washington, D.C., (whose members are often intimately involved in self-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. NCCI 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 self-insurance,
- Attorney practicing primarily in the area of insurance and reinsurance and admitted to practice in Florida, Illinois (This 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) and Iowa (all upon examination) with an insurance practice
Applicable Self-Insurance 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 self-insurance in the following ways: (i) the regulation of insurance, (ii) self-insurance and (iii) self-insurance entities and their duties and obligations.
- As stated above, I am an attorney admitted to practice in Florida, Illinois 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).
- Legal Counsel to the Professional Insurance Agents of Iowa (property casualty agents, who sell among other products, self-insurance);
- Legal Counsel to the Iowa Association of Life Underwriters (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 self-insurance;
Applicable Self-Insurance Expertise: Formal Education. In addition to my regulatory, legislative, industry and legal background, my educational background has also well-equipped me to provide self-insurance expertise as follows:
- Bachelors degree: Mathematics (Specifically a B.A. in secondary mathematics education) – University of Northern Iowa;
- 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 self-insurance issues testimony.
Contact self insurance expert Bill Hager at 561-306-5072 or via email to discuss a case.