INSURANCE SOCIETY OF PHILADELPHIA 2018–2019 ANNUAL REPORT

www.insurancesociety.org

L E T T E R F R O M T H E C H A I R M A NR O G E R F E L L

As the Chair of the Insurance Society of Philadelphia (ISOP) and long-time Board member, I have never been more excited about the current state of our association and the prospects for its future. We’re in a great position to continue to connect, educate and serve our members and others serving our industry in the Delaware Valley. This annual report is designed to inform you, our members, of ISOP’s activities over the past year and to review our upcoming initiatives. We hope you find it informative and insightful. We welcome your comments and hope you will continue to support and engage in our association. The Insurance Society of Philadelphia is over a century young and works to continuously evolve so that we can provide value to our members and be recognized as “THE” insurance-related professional association in the region. We are unique in that our association serves risk professionals, law firms, insurance carriers, retail and wholesale brokerage firms, agents and related support organizations serving the insurance industry. As will be reported in more detail in this report, our Committees have been extremely active in the past year and continually advance the Insurance Society’s mission.

• Philly I-Day – Working with the Society of CPCU, last April’s event was a great success attracting over 550 professionals. Plans are in the works for an even better 2020 session.

• Independence Gala – As a primary fundraiser for our scholarship initiative, the response for this year’s event has been overwhelming. On October 16th we will be honoring John Lupica (Chubb) with the 2019 Distinguished Leader Award.

• NextGen – As future leaders in our industry, this group has planned many events and activities that are geared toward young professionals.

• Scholarship – A record amount of scholarship money was distributed to deserving RMI students in the region and more is planned for next year.

• Finances – Blessed with a healthy financial position, the Finance Committee recommended, and the Board approved, a more aggressive investment policy to better support scholarships and other programming.

Lastly, I want to thank all Insurance Society of Philadelphia members and member companies for your continued support and engagement. We could not accomplish our mission without all of you. On behalf of the board, we look forward to serving you in the years ahead.

Roger Fell

M I S S I O N STATEMENT:To deliver exceptional value

to the Risk and Insurance

Community by providing a forum

for networking, scholarships,

career development and

charitable support.

V I S I O N STATEMENT:To be the premier organization

for networking, career

development, and charitable

support for the Risk and

Insurance Community.

C O R E VALUES: INTEGRITY

TEAMWORK & SYNERGY

DIVERSITY

ADAPTABILITY

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BOARD MEMBERSMike Pettinelli, AramarkFrederick Anton, JLT ReDave Bennink, Aon Risk SolutionsButler Buchanan III, Marshall Dennehey Warner Coleman & GogginBrian Clouse CPA, Mazars, USA LLPTim ConradJen Corry, The Graham CompanyJames Decker, 1251 CapitalAnita Devan, Zenith Insurance CompanyLou Paglione, AIGJeffrey Dunn, Glenn Insurance Inc.Ben Evans, University of PennsylvaniaRoger Fell, Marsh USA, Inc.Brian Grimm, Willis Towers WatsonRichard Hall, Pennsylvania Lumbermens Mutual Insurance CompanyEdward Hanna, RCM&DRobert Ivey, McKee Risk ManagementP. Drew Jones, PMA CompaniesThomas Kelley, Liberty Mutual GroupRonald Kuehn, Huggins Actuarial Services, Inc.Joseph Maher, Starr Companies

Robert Poliseno, Chubb

Dianne Salter, Corporate Insurance Services

Steven Skowronski, KSRS Consulting, LLC

Thomas Trullinger, Zurich North America

Storm Wilkins, Temple University - Fox School of Business

COMMITTEE CHAIRSFinance Committee Steven Skowronski, KSRS Consulting, LLC

Nominating Committee Ed Hanna, RCM&D

Membership Committee Brian Grimm, Willis Towers Watson

Scholarship Committee Dianne Salter, Corporate Insurance Services

Independence Gala Committee Joe Maher, Starr Companies Amanda Braz, Chubb

Philly I-Day Committee Rob Poliseno, Chubb Paul Griffing, NSM Insurance Group

NextGen Committee Denise Hunter, Zurich NA

B O A R D C H A I R Roger Fell

Marsh USA, Inc.

V I C E C H A I R Edward Hanna

RCM&D

S E C R E T A R Y Robert Poliseno

Chubb

IMMEDIATE PAST BOARD CHAIR

Dianne Salter

Corporate Insurance Services

T R E A S U R E R Steven Skowronski

KSRS Consulting, LLC

B O A R D R E C O G N I T I O N & C O M M I T T E E C H A I R S

YOUR ISOP EXECUTIVE TEAM

GABRIELLE COPPERWHEAT Executive Director

LEAH MCGONIGLE Membership and

Meeting Coordinator

JENNA EVEN Meeting Manager

KARI DICKERT Marketing Manager

JULIANA CRANKSHAW

Senior Accountant

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M E M B E R S H I P Two areas of focus concerning ISOP

membership have been formalizing

our value proposition and getting

a better understanding of the

composition of our membership.

Our organization brings the

entirety of the risk and insurance

community together and our focus

is providing a forum for networking,

scholarships, career development,

and charitable support.

The membership committee’s

main task over the year has been

reviewing the membership structure

and associated dues to provide our

members with a more appropriate

and comprehensive model. This new

model will be instituted in early 2020.

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AAIC

AB+C CREATIVE INTELLIGENCE

AMERICA INSURANCE AGENCY, INC

AMERISOURCEBERGEN CORPORATION

AMWINS BROKERAGE

AON

ARAMARK

ARC MIDATLANTIC EXCESS & SURPLUS, LLC

ARTHUR J. GALLAGHER RMS, INC.

ASPLUNDH TREE EXPERT COMPANY

AXA XL

BARTLETT & COMPANY. INC.

BB&T-THE ADDIS GROUP

BERKLEY PUBLIC ENTITY MANAGERS

BERKLEY RE SOLUTIONS

CNA INSURANCE

COMMONWEALTH INSURANCE ADVANTAGE

COMMUNITY ASSOCIATION UNDERWRITERS (CAU)

CONNER STRONG & BUCKELEW

CORPORATE INSURANCE SERVICES

COZEN O’CONNOR

CSL BEHRING LLC

ECBM INSURANCE BROKERS & CONSULTANTS

ENGLE-HAMBRIGHT & DAVIES, INC.

EXELON CORPORATION

FEDERAL HOME LOAN BANK OF PITTSBURGH

GEN RE

GIBBONS. PC

GLENN INSURANCE INC.

GREAT AMERICAN INSURANCE GROUP

HIRSHORN COMPANY

HUGGINS ACTUARIAL SERVICES, INC.

INSURANCE OFFICE OF AMERICA (DVGIA)

INTERCORP, INC.

J.M. PATTON ASSOCIATES, INC.

JOHNSON MATTHEY

JOHNSON, KENDALL & JOHNSON, INC.

LIBERTY MUTUAL INSURANCE GROUP

MADISON RISK GROUP, LLC

MARKS, O’NEILL, O’BRIEN, DOHERTY & KELLY. P.C.

MARSH USA, INC.

MARTIN & COMPANY

MAZARS USA, LLP

MCGRIFF INSURANCE SERVICES

MCKEE RISK MANAGEMENT

MESA UNDERWRITERS SPECIALTY INSURANCE COMPANY

MUNICH REINSURANCE AMERICA

NATIONWIDE

NJM INSURANCE GROUP

NSM INSURANCE GROUP

ODELL STUDNER GROUP, LLC

PENNSYLVANIA LUMBERMENS MUTUAL INSURANCE COMPANIES

PHILADELPHIA CONTRIBUTIONSHIP

PHILADELPHIA GAS WORKS

CITY OF PHILADELPHIA

PMA COMPANIES

QUAL-LYNX

RCM&D

RUETER INSURANCE AGENCY INC.

SAFEGARD GROUP, INC.

SAFETY NATIONAL CASUALTY CORPORATION

SAINT JOSEPH’S UNIVERSITY

SERVPRO

SIGNATURE CONSULTING SOLUTIONS

SIMKISS & BLOCK

SOUTHEASTERN PA TRANSPORTATION AUTH (SEPTA)

STOLL AGENCY, INC.

SWETT & CRAWFORD

TEMPLE UNIVERSITY -FOX SCHOOL OF BUSINESS

TRAVELERS

USI INSURANCE SERVICES LLC

VANGUARD CLAIMS ADMINISTRATION, INC.

W. BRUCE BEATON CO., INC.

WILLIS TOWERS WATSON

WORTLEY/POOLE PROFESSIONAL LTD.

ZENITH INSURANCE COMPANY

ZURICH NA

I S O P M E M B E R C O M P A N I E S

BROKER/AGENCY

CARRIER

RISK MANAGEMENT

ANCILLARY

UNIVERSITY

ATTORNEY/LAW FIRM

M E M B E R C O M P A N Y R E C O G N I T I O N

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32%

12%

16%

23%

14%3%

I N D E P E N D E N C E G A L A The 2018 Independence Gala was held at the Kimmel Center for the Performing Arts and brought in record-breaking attendance and donation figures. Our 750+ attendees brought in over $60,000 in donations for the Philadelphia Fire Department Foundation.

John Smith, President and CEO at Pennsylvania Lumbermens Mutual Insurance Company, was honored with the 2018 Distinguished Leadership Award.

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T H A N K YOUT O O U R 2 0 1 8 T O P - L E V E L S P O N S O R S

E V E N TJLT Re

D I A M O N DConner Strong & Buckelew

EisnerAmper LLPIndependence Blue Cross

Pennsylvania Lumbermens Mutual Insurance Companies

P L A T I N U MGraham CompanyPMA Companies

ChubbNSM Insurance GroupWillis Towers Watson

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P H I L L Y I – D A Y 2 0 1 9Philly I-Day took place on April 9, 2019 and brought together over 550 attendees,

including 43 students. Christopher McDaniel, President of The Institutes’ RBA

Alliance, gave the keynote address. Additionally, Michael Angelina Executive Director,

Maguire Academy of Insurance and Risk Management, Erivan K. Haub School of

Business at Saint Joseph's University was honored with the Franklin Award.

SAVE THE

DATEPHILLY I-DAY 2020

TUESDAY, APRIL 14

Seven scholarships equaling $65,000 were presented to the following students:Gabrielle Beauvais – Saint Joseph’s University

Kayla Cecchine– Saint Joseph’s University

Charles Ghiazza – Temple University

Matthew Masenheimer – Temple University

Lauren Morell – LaSalle University

Varun Sivakumar – Temple University

Brendan Tarte – Saint Joseph’s University

Jessica Zimmerman – Temple University

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NEXT GEN COMMITTEEIn 2018-2019, the Insurance Society NextGen (ISNG) generated $18,000 in sponsorships, which promoted the ISOP and ISNG mission to develop and empower the future leaders of our local insurance community. NextGen hosted 10 well-attended events throughout the year and plans to continue their successful participation at future events.

On Friday, March 1st, 2019 the University Relations Committee held their first event at the Graham Company. Approximately 25 students were in attendance from La Salle, St. Joe’s and Temple University. The committee’s goal for 2020 is to increase participation from the students and young professionals, but still keep exclusivity

of event.

NOMINATING COMMITTEE During the 2018-2019 year, the nominating committee was able to secure four new board members to serve in the upcoming year. Those elected were: Lou Paglione, AIG; Mike Pettinelli, Aramark; James Decker,1251 Capital Group; Ben

Evans, University of Pennsylvania.

SCHOLARSHIP COMMITTEEThe Insurance Society of Philadelphia awards scholarships annually to students and young professionals in the Delaware Valley who are engaged in the study of insurance, risk management and actuarial science. This program was created to support the studies and professional development of current students and young professionals in the industry. In 2019, eight student scholarships were awarded equaling $65,000 in total. Contributions made at the ISOP Independence Gala and Philly I-Day support these scholarships, allowing ISOP to continue its mission to further education.

Statement of ActivitiesTotal Revenue $528,119

Total Expenses $449,131

Change in Net Assets $78,988

State of Financial PositionTotal Assets $1,605,297

Total Liabilities $166,619

Net Assets without donor restrictions $1,438,678

Total Liabilities and Net Assets $1,605,297

Charitable SupportISOP supported the following organizations in the 2018-2019 business year.

• Marine Toys for Tots Foundation (NextGen Initiative)

• Philadelphia Fire Department and Citizens for Fire Prevention ($60,000 in conjunction with 2018 Independence Gala)

• St. Baldrick’s Foundations ($880 in conjunction with Philly I-Day 2019)

• Friends of Vernon Park ($450 in plant donations in conjunction with Philly I-Day 2019)

F INANCIALSNA PSHOT

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