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Best’s News & Research Service - January 23, 2015 03:37 PM (EST)

NCCI President-CEO Stephen Klingel to Retire in 2016

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BOCA RATON, Fla. //BestWire// - National Council on Compensation Insurance President and Chief Executive Officer Stephen J. Klingel has announced his intent to retire in February 2016.

Klingel is the NCCI's third-longest serving CEO in the organization's 90-year history, the NCCI said in a statement. Klingel has spent 12 years as the top officer at the NCCI.

"NCCI is a tremendous organization full of talented and dedicated employees and it has been my honor to act as their leader," Klingel said in a statement. "I am proud of the many accomplishments we've realized on behalf of the workers' compensation industry during my tenure, and I am confident that our employees will continue to deliver outstanding results long after I have made my exit."

Before joining the NCCI, Klingel served as the senior vice president of commercial lines at the St. Paul Cos., which is now part of Travelers.

During his 30-year tenure at the St. Paul Cos., he held a variety of key roles in the company, including president of personal insurance, regional president of the Upper Midwest Region, vice president of commercial underwriting, and vice president and general manager.

A native of Eagan, Minnesota, Klingel is a graduate of Beloit College in Wisconsin and earned his CPCU designation in 1978.

The NCCI has not yet named a successor to Klingel.

Elizabeth Haar, NCCI board chairwoman, and president and CEO of Accident Fund Holdings Inc., said NCCI is in the process of forming a search committee to evaluate candidates. Klingel will continue to oversee the NCCI's day-to-day operations until he steps down next year.

The NCCI has recently filed several workers' compensation rate recommendations in recent months.

In Florida, workers' compensation insurance rates for new and renewal policies will be cut 5.2% from current levels during 2015, marking the first rate reduction in four years. The NCCI filed a corrected rate on behalf of about 250 workers' compensation insurers with policyholders in the state. The NCCI's rate request was prompted by the Florida Office of Insurance Regulation's rejection of NCCI's proposed 3.3% decrease on Nov. 5 (Best's News Service, Nov. 14, 2014).

In Georgia, NCCI filed an overall average loss cost level cut of 3.3%, while requesting that overall average assigned risk rates remain flat (Best's News Service, Nov. 10, 2014).

(By Jeff Jeffrey, Washington Bureau manager: jeff.jeffrey@ambest.com)



Florida People In Insurance Workers' Compensation Insurance


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