|
William D. Hager CAREER HIGHLIGHTS: (See full position descriptions below)
PRESIDENT,
INSURANCE METRICS CORPORATION Mr. Hager formed Insurance Metrics Corporation in early 2000. The focus of this Corporation is three-fold:
1. The provision of reinsurance arbitration service, DEPUTY MAYOR AND ELECTED CITY COUNCIL MEMBER,
CITY OF BOCA RATON, FLORIDA, APRIL 2002 TO PRESENT Mr. Hager was elected to a two-year term on the Boca Raton City Council, effective April 1, 2002.
As City Councilman, Mr. Hager participates in the oversight of the Boca Raton City Government. This is a citywide elective position involving public service.
CO-FOUNDER
OF CENETEC, L.L.C.
BOCA RATON, FLORIDA, JANUARY 2000 TO January 2002
In early 2000, Mr. Hager co-founded Cenetec along with a group of entrepreneurs serving as
its CEO and Chairman of the Board. Cenetec served as a for profit accelerator designed
to help pioneering entrepreneurs turn their most innovative Internet and high technology
products and services into successful companies. Cenetec enabled a number of early stage
companies to effectively transform themselves into revenue producing enterprises.
Cenetec currently holds positions in a number of such companies.
CO-FOUNDER,
RISK METRICS CORPORATION
BOCA RATON, FLORIDA, 1998 TO 1999 Co-founded this information company
in 1998. Risk Metrics gathers and sells public data to
a wide range of customers. Mr. Hager recently sold his
shares in Risk Metrics and no longer holds a position in
the Company.
PRESIDENT AND CHIEF EXECUTIVE OFFICER,
NCCI, INC.
BOCA RATON, FLORIDA – 1990 TO 1998 Mr. Hager was appointed President and CEO of NCCI in May 1990. NCCI is the nation’s largest workers compensation and health care informatics corporation. Headquartered in Boca Raton, Florida, the corporation provides database products, software, publications and consultation services to state funds, self-insureds, independent bureaus, agents, regulatory authorities, legislatures and more than 700 insurance companies. While under Mr. Hager's leadership, NCCI had annual revenues approaching $150 million, NCCI employed 1,000 people located in 20 offices around the United States and was and is the licensed statistical and rate advisory organization in nearly 40 states. During Hager’s leadership, NCCI had annual pricing responsibility for some $16 billion of workers compensation premiums and responsibility to gain regulatory approval of that pricing. During
Hager’s
tenure, NCCI doubled revenues (from $70 million to $150
million), reduced
loss cost inadequacy to nearly zero (down from 25% inadequacy),
brought residual markets to an underwriting break-even
point (down from $2 billion in annual underwriting losses)
and provided the intellectual foundation for $1.5 billion
in statutory reform. Concurrently, the organization was
right-sized (head count reduced from 1,500 to 1,000), firepower
was substantially increased (technical and professionals
have increased from 40% to 85% of the employment base),
and the organization was converted from a rate bureau to
a contemporary, competitive information company.
INSURANCE
COMMISSIONER, STATE OF IOWA
DES MOINES, IOWA – 1986 TO 1990 As Insurance Commissioner appointed by Governor Terry Branstad in July 1986, he was responsible for the regulatory oversight of all insurance companies, agents and brokers authorized to conduct business in the state of Iowa. He directed departments responsible for solvency oversight, insurance company examinations, consumer protection, agency licensing, and the administration of property and casualty, life and health insurance industries. In addition, Mr. Hager oversaw state regulation of the securities industry with Iowa’s Supervisor of Securities reporting directly to him. Mr. Hager brought contemporary technology to the Insurance Division. He pushed for aggressive legislation resulting in increased prosecution of agents and companies. For example, in 1986, $16 million was recovered from insurers for Iowa consumers. Under his direction, the division spearheaded an effort to attract new insurance operations to Iowa. Under this program, 3,000 new insurance jobs were added in 1988 alone. The program continues to date and is nationally recognized as a model of a constructive environment for attracting insurer operations. He was also responsible for implementing an assertive senior citizens advocacy program to educate the elderly on insurance purchases. Mr. Hager also strengthened rate oversight by leading the effort to hire an FCAS within the Department. Under Hager’s leadership the FCAS was paid substantially more than Hager and even more than the Governor of the State.The most important and yet least visible regulatory responsibility for an insurance commissioner is regulating for solvency. Mr. Hager was recognized for tenacious solvency regulation. During his term, several preexisting insolvencies were brought to completion and closed out. Furthermore, a number of marginal domestic insurers were declared insolvent and liquidated. Mr. Hager also facilitated a preemptive sale of a $4 billion Iowa domestic insurance company (Integrated Resources Life Insurance Co.) when its parent teetered on insolvency. The department worked with the insurer when a "run on the bank" was imminent and led a rapid sale of the insurer preempting a probable major insolvency. Under the terms of the sale all policyholders were made whole. The department also recommended and
supported state and federal prosecution of several insurance
executives (e.g., American Excel) who committed financial
fraud. Consistent with this record, and the general standard
that the strength of solvency regulation during a commissioner's
term is best reflected in the out years, in the years following
1990, Iowa has not had a relevant insurer insolvency.
Concurrent with his service as Iowa Insurance Commissioner, Mr. Hager served as a member of the NAIC. The NAIC is an organization of the insurance commissioners of all 50 states and meets regularly in locations throughout the U.S. to consider and evaluate national insurance issues. The NAIC considers all major insurance issues and formulates responsive model insurance laws and regulations, which are then routinely (but optionally) adopted at the individual state level. In addition, the NAIC promulgates and updates the key insurer financial reporting format, namely the NAIC Annual Statement Blank. The organization is based in Kansas City, Missouri and is staffed by well over 100 personnel. NAIC Chairmanships – Chairman of the Midwest Zone. Mr. Hager was elected by his fellow Insurance Commissioners from the Midwest Zone (composed of the Midwest states, constituting about one quarter of all of the states) to provide leadership and representation of the Midwest before the balance of the states. This position included a position on the Executive Committee of the NAIC as well as major responsibilities relating to the assignment of states (and their related examiners) to specific examinations, both triennial and Market Conduct. NAIC Leadership: Member of the Executive
Committee. Mr. Hager also served as an elected member of
the Executive Committee of the NAIC, the body that served
as the steering committee of the organization, providing
leadership between full membership meetings and providing
recommendations to the full membership as to complex or
politically charged issues within the organization.
NAIC Chairmanships – Chairman of the Life Insurance Committee. As a member of the NAIC, Mr. Hager served as both Vice Chairman and Chairman of the NAIC Life Insurance Committee. The charge of this Committee was oversight over all issues relating to life insurance products (including illustrations) as well as life insurers. This position and my four years of service at the NAIC exposed me to Mr. Hager to all aspects of life insurer operations and responsibilities. NAIC Chairmanships: Chair of the Universal Life Insurance Task Force. In addition to chairing the Life Insurance Committee, Mr. Hager also chaired the Universal Life Insurance Task Force. The responsibility of this Committee included oversight of emerging life insurance products such as universal life. NAIC Chairmanships: Chair of the Life Insurance Product Development Task Force. Mr. Hager also chaired the Life Insurance Product Development Task Force. While chairman of this task force, he led the development of model disclosure statements for universal and indeterminate premium life products designed to assist consumers in their comparison of different types of interest sensitive life insurance products, after a survey of the states determined regulatory problems existed with these products. NAIC Chairmanships Chair of the Financial Services and Insurance Regulation Task Force. Mr. Hager also served as Chair of the Financial Services and Insurance Regulation Task Force and Member of the Executive Committee. Working with the other U.S. financial industries, this Task Force had responsibility to reconcile issues relating to non-insurance financial matters (e.g., banking and securities) in their intersection with insurance and insurance regulation. NAIC – Other Committees. In addition, he also served on the following NAIC committees:
Ongoing
Regulatory Involvement. In
the years since leaving the regulatory ranks, he has continued
to be closely involved with the NAIC and the regulatory
community. As President and CEO of NCCI, he was in regular
attendance at meetings of the NAIC and continues to currently
attend these meetings and to be actively engaged with the
regulatory process.
PRACTICING
ATTORNEY, HAGER & SCHACHTERLE
DES MOINES, IOWA 1983 TO 1986 Following his time in Washington, D.C., Mr. Hager returned to Des Moines and opened his own law firm in 1983. The firm specialized in corporate insurance, regulatory insurance and employee benefit matters. The firm also provided general legal services. Mr. Hager represented numerous clients (companies and agents) in regulatory matters before the Iowa Insurance Department. Representative matters included:
He also lobbied on behalf of insurers at the state legislature and NAIC level. Representative clients included the
GENERAL COUNSEL AND DIRECTOR OF GOVERNMENT
RELATIONS, AMERICAN ACADEMY OF ACTUARIES
WASHINGTON, D.C. 1980 TO 1983 Mr. Hager served as General Counsel and Director of Government Relations for all Academy activities, including advising on admissions, discipline, federal antitrust and general corporate law. He represented the 10,000 member organization before Congress (e.g., Senate Committees on Banking, Commerce, Finance and Labor, and House committees on Education, Labor, Energy, and Ways and Means). He also represented the Academy before federal regulatory agencies, including the
His additional duties included daily monitoring and reporting of all Congressional and regulatory activities affecting the profession. While at the Academy Mr. Hager was also chief staff support to the following Academy Committees/functions:
Mr. Hager worked with Academy committees
that subsequently provided the impetus for the creation
of a national actuarial standards board that later became
the Actuarial Standards Board (ASB).
ADMINISTRATIVE ASSISTANT TO REPRESENTATIVE
TOM TAUKE,
U.S. HOUSE OF REPRESENTATIVES WASHINGTON, D.C. 1979 TO 1980 Mr. Hager served as Administrative Assistant in Washington D.C. to Iowa Congressman Tom Tauke (Republican from Dubuque) for one year. His duties included the following:
CHIEF DEPUTY, IOWA INSURANCE DEPARTMENT
DES MOINES, IOWA 1976 TO 1978 Reported directly to Commissioner Herb Anderson. Mr. Hager supervised the following divisions within the Department: Life and Health Division. The Life and Health Division was responsible for oversight of all life and health policy forms approvals as submitted by insurers. Additionally, this division was also responsibly for all related Life/Health rate change proposals. Property Casualty Division. The Property Casualty Division was responsible of oversight of all property casualty policy forms approvals as submitted by insurers. Additionally, this division was responsible for all related property/casualty rate change proposals. Complaints Division. This division was responsible for the processing and oversight of all consumer complaints received by the Insurance Department. In the Department’s resolution of such complaints and where patterns of insurer and agent wrong doing arose, to prosecute the insurers/agents under the Iowa Administrative Procedures Act. Mr. Hager personally led the Administration Prosecution of scores of such cases. Agents Licensing Division. This application was responsible for overseeing all agent-licensing applications. In addition to the above, Mr. Hager
supervised initiation of formal administrative actions
relating to departmental rules, companies (i.e., mergers,
holding company activities and disciplinary activity),
and agents (i.e., disciplinary).
IOWA ASSISTANT ATTORNEY GENERAL
DES MOINES, IOWA 1975 TO 1976 Assigned to the Department of Insurance, serving as the Department’s General Counsel. In that capacity, he
Retained by the Republicans of the Iowa House of Representative as their legal counsel for 1975 Session. In this position, I provided legal counsel on all relevant caucus issues and provided the following staff support:
Taught junior high mathematics and
Hawaiian history in a school with a significant population
of Hawaiian students during academic years 1970-71 and
1971-72.
University of Northern Iowa, Cedar
Falls, Iowa University of Hawaii, Honolulu, Hawaii; Master of Education Degree – Educational Psychology (Psychological Counseling) – 1972 University of Illinois, Champaign,
Illinois Florida, by exam 2004;
Member, American Bar Association,
and Member of the following Sections:
Member of the Board and Immediate Past Vice Chairman of the Board, Boca Raton Community Hospital Co-Chairman (w/ Beth and Mr. Richard Gold) of the 2001 American Cancer Society’s Ball (Boca Raton) Ball Chairman (w/ Beth) 1999 Boca Raton Community Hospital Ball Co-Chair (with Beth and with Mike and Kathy Arts and John and Susan Welchel) of the 1998 Boca Raton Historical Society Ball Ball Chair (w/ Beth) of the 1997 American Heart Association Ball Board of Directors, National Conference of Christians and Jews of Southeast Florida Board Member, past Chair, Boca Raton Chamber of Commerce Member of the Session and current Stewardship Campaign Chairman, First Presbyterian Church (Delray Beach) Past Board Member, Past Chair, Florida Atlantic University Executive Advisory Board, College of Business Past Board Member, Past Campaign Chair, United Way of Palm Beach County Past Chair, March of Dimes Walk America Advisory Committee to the Board: Pinecrest
School, Ft. Lauderdale, and FL.
Sun Sentinel Excalibur Award for Business Leaders in South Florida (awarded for excellent business practices) Silver Medallion Award, National Conference of Christians and Jews (awarded for ecumenical work in the community between all ethnic groups) Business of the Year (to NCCI), 1996 as CEO Others
Member, Board of Directors of Emergin, Inc., a global leader in the wireless software industry, offering a combination of products and services that provide wireless communications solutions to businesses of all sizes. Partner, Silicon Beach Venture Capital, Inc., a venture capital firm located Boca Raton. Elected Councilman of the City
of Boca Raton; term runs through 2006;
Numerous Iowa Attorney General Opinions (1975-76); Antitrust Guide, American Academy of Actuaries (1982); Numerous other articles in various publications while General Counsel and Director of Government Relations to the American Academy of Actuaries (1980-1983); Numerous articles in various publications while Iowa Commissioner of Insurance (1986-1990); Author (and lecturer) of the Insurance Course of the Iowa Bar Review (@ 1985- 1991); Numerous Hearing Officer Decisions under the Iowa Administrative Procedures Act (1978-1980; 1986-1990); Numerous articles about the US Workers Compensation System while President and CEO of NCCI (1990-1997); Law Review Article: William D. Hager, The Authority of the States over Debtor Coercion by the Federal Savings and Loan Associations, 27 Drake Law Review 651 (1977). Law Review Article: William D. Hager and Paul Noel-Creitien, The Emerging Law of Actuarial Malpractice, 31 Drake L. Rev. 831 (1982). Law Review Article: William D. Hager & Larry Zimpleman, The Norris Decision, Its Implications and Applications, 32 Drake L. Rev. 913 (1983). Numerous
other articles.
"The Unfair Claims Practices Act - Sword and Shield," was presented by Mr. Hager at the Corporate Compliance and Executive Planning Sarbanes Super Conference sponsored by Forbes Magazine in Washington, D.C. on September 3-4, 2003; "Avoiding Actuarial Malpractice" was the topic of a speech given by Mr. Hager to The Conference of Consulting Actuaries at the November 2003 Annual Meeting held in Tucson, AZ; Numerous presentations to various groups while Iowa Assistant Attorney General; Numerous presentations to various groups while Iowa First Deputy Insurance Commissioner; Numerous presentations to various actuarial organizations/programs while General Counsel and Director of Government Relations of the American Academy of Actuaries; Numerous presentations to various groups/organizations while a practicing attorney in Des Moines; Numerous presentations to various groups while Commissioner of Insurance; Numerous presentations to various groups while President and CEO of NCCI; Numerous
presentations to the high technology community in recent
positions;
Bill
and his wife, Dr. Beth King, reside in Boca Raton where
they are raising their two teenage daughters. Beth is
an assistant professor of nursing at Florida Atlantic
University. Bill is a highly marginal golfer and he
teaches Sunday School at the First Presbyterian Church
in Delray Beach, where he also serves as an Elder.
Office Contact Information: |
© Copyright 2003-2004 Insurance Metrics Corporation, ALL RIGHTS RESERVED.