Stephen Festa Appointed to Board of California Insurance Guarantee Association
RENO, Nev. – December 7, 2009 – EMPLOYERS® (NYSE: EIG), America's small business insurance specialist®, today announced that Stephen V. Festa, Senior Vice President, Chief Claims Officer, has been appointed to 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. Festa was appointed to the position by California Insurance Commissioner Steve Poizner and will represent EMPLOYERS as an Insurer Member on CIGA’s Board of Governors.
EMPLOYERS is the latest Insurer Member to be named to CIGA’S Board of Governors, which also includes Allstate Insurance Company, Liberty Mutual Insurance Company and Chubb Insurance Companies, among others. CIGA operates under Sections §1063-1063.77 of the California Insurance Code, providing 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). Representatives of each Insurer Member meet quarterly and oversee the organization and its annual operations.
“Steve is a welcome addition to our board and brings a solid background of claims management experience to the organization,” said Wayne Wilson, executive director of CIGA. “We also are pleased to welcome EMPLOYERS as an Insurer Member of CIGA’s Board of Governors.”
Festa has served as Senior Vice President and Chief Claims Officer of Employers Insurance Company of Nevada and Employers Compensation Insurance Company since 2004. With over 20 years of industry experience, he has held several executive level claims positions throughout his career.
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 throughout the United States. 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:www.employers.com.