LEA Reporter – Fall 2005
According to the NOAA website, it has been a season of record breaking Hurricanes, both in numbers and impact. It started with July 5th being the earliest date on record to have four named storms in the Atlantic. July attained another record for most (5) named Atlantic storms. Dennis was crowned as the earliest developed CAT 4 hurricane. But the ultimate record presently lies with the most costly and devastating event of Katrina, followed closely by the wrath of Rita.
The LEA continues to provide the educational forum to discuss and learn from such catastrophic events as these that so directly impact our industry.
Summer Meeting 2005, Baltimore Maryland
The Summer Meeting was a resounding success as those who were present can attest to. The programs were outstanding, as usual, and the location, Baltimore Inner Harbor provided a beautiful setting for our meeting.
President Tom Leidell kicked off to the general session, with his opening remarks focused on the 2005 LEA Strategic Foundation.
The priorities and objectives were outlined as follows:
The LEA is dedicated to furthering the advancement and education of the property loss professional and provides a means and forum in which current issues can be discussed and examined.
STRATEGIC PRIORITIES & KEY OBJECTIVES – 2005 -2006
Validate the Identity of the LEA*
Examine and Evaluate Educational Programs
*Reflected in the survey taken in August 2005, a large majority of the membership did not want a change in the name of the organization, therefore, it was decided that the LEA name will remain unchanged. By a lesser margin, it was clear that the members did not want to expand the membership to include underwriters. Therefore it was decided not to invite underwriters to join the organization, leaving the LEA a ‘claims only’ organization. A new logo and tagline are presently under consideration.
Once again, the committee would like to thank all of those members who participated in the surveys and those who continue to provide feedback on these very important initiatives.
The President’s speech was followed by a direct and sometimes humorous speech by the Insurance Commissioner from the State of Maryland, the Honorable Alfred W. Redmur, Jr.
In attendance at this meeting were 145 members, 76 guests, 17 speakers, and 21 spouses, for a total of 259 participants.
Although there was less feedback than in prior sessions, the evaluation forms that were received reflected very positive ratings, again with ‘excellent/satisfactory’ the overall winner.
General Session 1 - The Economist –
Excellent/Satisfactory – 81%
General Session 2 - Dirty Bomb –
Excellent/Satisfactory – 98%.
Workshop 1 - Electronic Courtroom and Record Retention –
Excellent/Satisfactory - 100%.
Workshop 2 - Beyond Cause & Origin –
Excellent - 100%.
Workshop 3 - Environmental Claims –
Excellent/Satisfactory - 100%.
Workshop 4 - Complex BI and Contingent BI –
Excellent/Satisfactory – 100%
Overall Program –
Bob Barber, Program Chairperson, is always interested in hearing about any potential topics, or presenters that a member feels may add value to our programs. Please feel free to contact him at: email@example.com
The LEA would like to thank each of the speakers and panel members from these sessions for sharing their incredible wealth of knowledge, and providing the structure for another excellent educational forum.
The new member statistics presented to the membership at the Summer Meeting were as follows:
Regular Members - 259
Associate Members - 315
Retired - 62
Emeritus - 2
Total - 638
In addition, there are 77 Pending Associates on the waiting list.
As always, we are seeking input on ways to improve the LEA website. When you have the opportunity, please visit the site at www.lossexecutives.com. If you have any suggestions or comments please send them to: firstname.lastname@example.org.
Steve Cronin Award:
In memory of a true friend of the LEA, the annual Steve Cronin Award was established in 2003. Below is the explanation of this award which you will also find at: www.lossexecutives.com. If there is someone that you feel meets the criteria for receipt of this award, please follow the nomination procedures as noted below.
The Stephen P. Cronin, Jr. Memorial Award is presented each year at the Loss Executives Association Annual Meeting to an individual who donates their time, skill and exceptional service to the property claim profession, promotes the educational and ethical development of the profession and does so out of dedication to the principles, professionalism, and fraternity of the LEA.
The award inscription reads:
“This is presented in deepest appreciation in recognition of your dedicated service in contributing to and promoting the professional, educational, and ethical development of members of the property claims profession.”
The Executive Committee of the LEA is asking the membership to submit the names of any individual they feel fits the above profile as a nominee to receive this prestigious award. Please email your nomination to email@example.com and they will be presented to the Executive Committee for consideration.
The ultimate choice of the annual recipient is at the sole discretion of the Executive Committee.
Scholarship and Educational Update:
By now, many in the property loss arena will have received the updated e-mail regarding this year’s 21st Annual National Forum.
The Nov. 8 through Nov. 11 session at the Princeton Forrestal Conference Center will focus on a complex case study that incorporates contemporary property claims issues that will be discussed and analyzed in both large group sessions and smaller breakout groups. As noted, the past 20 annual sessions have garnered national attention based on the sophisticated format, outstanding faculty, and extraordinarily high overall educational content. This year will be no exception.
The National Forum Program is approved for both state and RPA CE credits. The LEA, as the sole sponsor of the National Forum, is once again offering a 50% discount on the tuition for first time attendees and a $200 subsidy/credit to all attendees against room and board charges.
Thus far this year, there are representatives from Germany and Switzerland to Alaska, Puerto Rico, Connecticut, California, New York, New Jersey and Pennsylvania.
There are still some openings available, so anyone with an advanced property loss adjustment background should consider signing up for this exceptional educational experience.
For additional information about the National Forum, please contact Joe Gerber at 215-665-2026.
!!!SAVE THE DATE!!!
Winter Meeting: Tampa, Fl
Wednesday, Jan 25 – 27, 2006
It’s The 75th Anniversary of the LEA, and the plan is to kick it up a notch or two, and celebrate this milestone for the LEA!! This is an event not to be missed.
All of the LEA Committees have been very busy working and making plans to commemorate this special time.
The Thursday Evening Banquet will be a very special event. For that reason, the Executive Committee is making a fervent request for all of the membership to support and celebrate this momentous occasion.
There will be other special surprises throughout the January meeting. This is a key date e in LEA history and the overall program will provide those in attendance an opportunity to share in the special memories and educational enhancement.
Also, in recognition of the potential need for market meetings at the January session, the Committee has requested that a number of meeting rooms be made available for such meetings to take place. If you would like to arrange to reserve one of these rooms, please check with Sue Stein for available dates and times. Sue can be contacted at firstname.lastname@example.org .
The agenda will be posted on the LEA website shortly, so check in there, and see what’s coming!