As the new Executive Director of APEI, I wanted to introduce myself and report on our successful policy renewal season.
I was appointed to the role of the Executive Director by the APEI board this May, replacing Brad Thompson, who retired after seven years with APEI. I have worked with APEI in various capacities since 2002, starting as the contract actuary recommending company reserve levels, and coming on staff in 2010 to work on the underwriting side of the company. I’ve worked with many of you in recent years, processing endorsements, or assisting with the renewal process.
This was a challenging renewal for many APEI members. Several large property and liability losses in Alaska have resulted in an increase in the cost of primary insurance and the premiums we pay for excess insurance. These costs, unfortunately, must be passed onto members. We were able to mitigate some of this increase with the decision by the APEI board in March of 2017 to distribute about $2.5 million in premium credits and dividends to APEI members. We very much appreciate the loyalty of the APEI members who recognize the value in maintaining membership in the pool, despite the vagaries of the insurance market.
Many APEI members take advantage of our Loss Control program to earn credits offsetting their premiums. Reducing losses by engaging in loss control activities is a win-win for members and for APEI. In addition to the premium savings, members also benefit from having fewer injured workers, fewer lawsuits from 3rd parties, and by reducing the incidence and severity of property claims.
If you aren’t familiar with our loss control offerings or haven’t reviewed them in a while, we encourage you to look on this website, and/or contact our Loss Control Manager, Cole Cummins, for more information on what is available. Even if you have participated in loss control activities in the past, we have expanded our online opportunities, and you may find some new training courses that are of interest to you. We have also expanded our loss control services on Human Resources topics, with our Administrative Manager, Carleen Mitchell available for phone consultations and group training.
APEI added the City of Dillingham as a new member this year, and added the City of Hydaburg, the Community of Hollis, and the City of Whale Pass during the last few months of the 2016/17 policy year. We look forward to working with these new members as we introduce them to the many risk management services we provide to our members.
Please give me a call if you have questions or concerns with any of our varied activities or would simply like to get acquainted. If you are in Juneau, we’d love to have you stop by the office near the airport to meet our staff, and let us put a face to your name!