RENO, Nev. -- January 12, 2011 -- EMPLOYERS® (NYSE: EIG), America's small business insurance specialist®, today announced that Stephen V. Festa, senior vice president and chief claims officer, has been named secretary and treasurer on the Board of Governors of the California Insurance Guarantee Association (CIGA), a state-run body that pays the claims of insolvent property and casualty insurance carriers.
Having joined the CIGA board in 2009 to represent EMPLOYERS as an Insurer Member, Festa now reinforces his commitment to the board by taking on the role of secretary and treasurer. Festa brings additional value to the board as its only C-level claims executive. Operating under the California Insurance Code, CIGA provides a mechanism for the payment of covered property, casualty, and workers' compensation insurance claims of insolvent insurance companies (as defined by the Insurance Code and specific case law).
“Since joining the CIGA Board of Governors, Stephen’s commitment and contributions have exceeded our expectations,” said Wayne Wilson, executive director of CIGA. “Our board is ideally comprised of insurance executives representing all facets of the industry and Stephen’s expertise as a chief claims officer naturally plays an important role in the function CIGA performs in California. We’re pleased Stephen has agreed to extend his commitment by taking on the role of secretary and treasurer for the board.”
Festa has served as senior vice president and chief claims officer of Employers Insurance Company of Nevada and Employers Compensation Insurance Company since 2004. Festa has over 25 years of industry experience.
Festa attended the University of Southern California and has also completed the Advanced Executive Education Program sponsored by the American Institute for Chartered Property Casualty Underwriters (AICPCU) and the Wharton School of the University of Pennsylvania.
About Employers Holdings, Inc.
Employers Holdings, Inc. (NYSE: EIG) is a holding company with subsidiaries that are specialty providers of workers' compensation insurance and services focused on select small businesses engaged in low-to-medium hazard industries. The company, through its subsidiaries, operates coast to coast. Insurance is offered by Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, and Employers Assurance Company, all rated A- (Excellent) by A.M. Best Company. Additional information can be found at: http://www.employers.com.
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