As the new Executive Director of APEI, I wanted to introduce myself and report on our very successful policy renewal season.
Before being appointed as the Executive Director by the APEI board this May, I worked for APEI as the Claims Director for five years. In this role, I interacted with many of you to address pending or potential claims, and was responsible for supervising and training our claims and loss control staff. Prior to coming to APEI, I was the Director of Risk Management for the State of Alaska for almost 30 years and oversaw all aspects of the State’s insured and self-insured risks.
I took on the Executive Director role in the midst of our busy renewal season, and have enjoyed the opportunity to become more familiar with the underwriting side of APEI’s business while working with our professional staff and the brokers representing our members.
As you may know, APEI, like all insurers, purchases excess insurance or reinsurance, to help protect us and our members against the rare, very large claims. This year, we were able work with our excess brokers to keep our overall excess premiums relatively unchanged while improving coverage. We now provide excess property coverage with an aggregate limit of $200 million (increased from $150 million last year) to better protect against that rare situation where several high valued structures are damaged in a single event. For flood and earthquake, we have an aggregate limit of $75 million, which exceeds the 400-year maximum expected earthquake loss predicted through modeling.
Each year, we see more APEI members participating in loss control activities such as safety inspections or training classes. These activities can reduce losses and allow the member to earn credits offsetting their premiums. If you aren’t familiar with our loss control offerings, 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.
APEI added the City and Borough of Sitka and the PAIDEIA Community Charter School as new members this year and we look forward to working with them as we introduce them to the many risk management services we provide to our members.
Nineteen members signed new multiple-year term agreements, reflecting wide-spread satisfaction with APEI’s products and services. These agreements provide a premium savings to the member, while adding stability to the pool and enabling us to continue to expand our offerings.
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 to meet our staff, and let us put a face to your name!