JUNE 2019 - DECEMBER 2020 ANNUAL REPORT

INSURANCE SOCIETY OF PHILADELPHIA JUNE 2019 - DECEMBER 2020 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 NE D H A N N A

As the Chair of the Insurance Society of Philadelphia (ISOP) succeeding Roger Fell in the position, I am gratified and honored to serve you and excited about meeting your high expectations over the years to come.

This special edition of our annual report is designed to inform you, our members, of ISOP’s activities over the past year and a half 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 Board and I have been focused on aligning our response to the impact of the course of the pandemic on our communities and holding true to you and our mission. Our Committees and team at the Insurance Society of Philadelphia have worked tirelessly to develop and refashion our programs and initiatives to rise to the need and your expectations.

• Philly I-Day – Philly I-Day was scheduled to take place on April 14, 2020 just as COVID 19 was reaching its initial peak. ISOP was faced with no other choice than to cancel, but is excited to be able to offer Philly I-Day virtually in April 2021.

• Independence Gala 2019 – The 2019 Gala made history as the most successful Gala to date. On October 16, 2019, over 90 different sponsoring companies gathered together to honor DLA recipient John Lupica of Chubb, and raise record breaking funds for ISOP.

• UnGala of 2020 –Gala 2020 was held virtually as the UnGala to help raise funds for ISOPs 2021 Scholarship Program. Bringing in nearly 60% of the amount budgeted for scholarships next year, the success of the UnGala is a testament to the ISOP community during these difficult times.

• NextGen – In an effort to increase focus on the future leaders in our industry, an Advisory Council made up of NextGen Leaders was formed to participate in meetings of the Board of Directors, providing insight and perspective in representing the needs of our young professionals at all levels.

• Scholarship – Topping last year’s record amount of scholarship money distributed, ISOP awarded 23 deserving RMI students and young professionals in the Philadelphia region.

• Finances – Blessed with a healthy financial position at the onset of 2020, the Society was able to continue supporting the scholarship program and virtual programming through 2020.

Lastly, the Board and I want to thank all Insurance Society of Philadelphia members and member companies for your continued support and effort in making this year a success for ISOP and all of our Community.

Ed Hanna

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

2 | www.insurancesociety.org

BOARD MEMBERSFred Anton, JLT Re

Dave Bennink, Aon

Butler Buchanan, Marshall Dennehey Warner Coleman & Goggin PC

Alex Caruso, Chubb.C Bb Services, Inc

Brian Clouse, Mazars USA, LLP

Tim Conrad, Maiden RE

Jennifer Corry, Graham Company

James Decker, 1251 Capital

Anita Devan, Zenith Insurance Company

Jeffrey Dunn, Glenn Insurance Inc.

Ben Evans, University of Pennsylvania

Roger Fell, Marsh, USA

Brian Grimm, Willis Towers Watson

Rich Hall, Pennsylvania Lumbermens Mutual Insurance Companies

Ed Hanna, RCM&D

Denise Hunter, Zurich NA

Robert Ivey, McKee

Drew Jones, PMA Companies

Tom Kelley, Liberty Mutual Insurance Group

Rusty Kuehn, Huggins Actuarial Services, Inc

Joseph Maher, Starr Companies

Lou Paglione, AIG

Mike Pettinelli, Aramark

Robert Poliseno, Chubb.C Bb Services, Inc

Chip Reed, Willis Towers Watson

Carmela Robinson, Pennsylvania Lumbermens Mutual Insurance Companies

Dianne Salter, Corporate Insurance Services

Julianne Shillington, Brit Insurance

Steve Skowronski, KSRS Consulting, LLC

Ann Marie Snyder, AXA XL

Thomas Trullinger, Conner Strong & Buckelew

Storm Wilkins, Temple University

COMMITTEE CHAIRSFinance Committee Steven Skowronski, KSRS Consulting, LLC

Nominating Committee Rob Poliseno, Chubb

Membership Committee Brian Grimm, Willis Towers Watson

Scholarship Committee Dianne Salter, Corporate Insurance Services

Independence Gala Committee 2019 – Joseph Maher, Starr Companies and Amanda Braz, Chubb

2020 – Ed Hanna, RCM&D and Denise Hunter, Zurich NA

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

NextGen Committee Julianne Shillington, Munich Re

Executive Committee Edward Hanna Chair, RCM&D

Robert M. Poliseno Vice-Chair, Chubb

Steven Skowronski Treasurer, KSRS Consulting, LLC

Ben Evans Secretary, Penn

Roger C. Fell Immediate Past Chair, Marsh USA, Inc.

Julianne Shillington Chair Appointed-NextGen Representative, Brit Insurance

Diane Salter Chair Appointed-Scholarship Representative, Corporate Insurance Services

B O A R D C H A I R Edward Hanna

RCM&D

V I C E C H A I R Robert Poliseno

Chubb

S E C R E T A R Y Ben Evans

University of Pennsylvania

IMMEDIATE PAST BOARD CHAIR

Roger Fell

Marsh USA, Inc.

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

ASHLEY SENTELL Member Services

DEANNA WILSON Meeting Manager

SAM KRESZ Marketing Manager

JULIANA CRANKSHAW

Senior Accountant


M E M B E R S H I P The main area of focus concerning

ISOP membership this year has been

adapting the delivery of our value

proposition and benefits to respond

to the needs of our membership in a

period of unrest and uncertainty.

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

launching the new membership

structure and associated dues and

monitoring the results as they provide

our members with a more appropriate

and comprehensive model.


ab+c Creative Intelligence

Admiral Insurance Group

AIG

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

Beyond Insurance

BMT Insurance Advisors

Capital Premium Financing

CGM Accounting Associates, Inc.

Chubb

CNA

Commonwealth Insurance Advantage

Community Association Underwriters (CAU)

Conner Strong & Buckelew

Cooper Levenson, P.A.

Corporate Insurance Services

Cozen O’Connor

CSL Behring LLC

Deloitte & Touche

ECBM Insurance Brokers & Consultants

Einstein Healthcare Network

Engle-Hambright & Davies, Inc.

Exelon Corporation

Federal Home Loan Bank of Pittsburgh

Gen Re

Gibbons. PC

Glenn Insurance Inc.

Goldberg Segalla LLP

Great American Insurance Group

Guy Carpenter

Hirshorn Company

Huggins Actuarial Services, Inc.

Insurance Office of America (DVGIA)

Intercorp, Inc.

J.M. Patton Associates, Inc.

Jimcor Agencies

Johnson Matthey

Johnson, Kendall & Johnson, Inc.

Liberty Mutual Insurance Group

M & T Insurance Agency

Madison Risk Group, LLC

Marks, O’Neill, O’Brien, Doherty & Kelly. P.C.

Marsh USA, Inc.

Marshall Dennehey Warner Coleman & Goggin PC

Martin & Company

Mazars USA, LLP

McKee Risk Management

Mesa Underwriters Specialty Insurance Company

Munich Reinsurance America

Nationwide

NJM Insurance Group

NSM Insurance Group

Odell Studner Group, LLC

P&C Insurance Company Strategies, LLC

Pennsylvania Lumbermens Mutual Insurance Companies

Philadelphia Contributionship

Philadelphia Gas Works

Philadelphia, City of

PMA Companies

Porter & Curtis LLC

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)

Starr Companies

Stoll Agency, Inc.

Swett & Crawford

Temple University -Fox School of Business

Travelers

University of Pennsylvania

USG Insurance Services, Inc.

USI Insurance Services LLC

Vanguard Claims Administration, Inc.

Venture Programs, 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

Ancillary 1-50 Employees 1%

Ancillary 1-50 Employees 1%University 3%

Law Firm 1-50 Employees 1%

Law Firm 51+ Employees 4%

Professional Organization/Non-Profit 10%

Risk Management Department 13%

Broker/Agency 1-50 Employees 18%

Broker/Agency 51+ Employees 11%

Individual 7%

Insurance Carrier 1-50 Employees 14%

Insurance Carrier 51+ Employees 17%


I N D E P E N D E N C E G A L A The 2019 Independence Gala was held at the Philadelphia Marriott Downtown and brought in record-breaking attendance and support. Our 900+ attendees brought in over $64,000 in donations for the Philadelphia Fire Department Foundation.

John Lupica, Vice Chairman, Chubb Limited/ Chubb Group was honored with the 2019 Distinguished Leadership Award.

T H A N K YOUT O O U R 2 0 1 9 T O P - L E V E L S P O N S O R S

E V E N TChubb

C H A I R M A NAcrisure

Aon

Gallagher

Liberty Mutual Insurance

White and Williams LLP

Willis Towers Watson


of 2020 A MULTI-WEEK VIRTUAL EXPERIENCE

While we may not have been able to celebrate together in person and the annual Independence Gala, ISOP produced a fully virtual UnGala of 2020. This cutting edge experience combined virtual networking, live panel discussions on topics in front of our industry today, and provided a forum for our industry to connect safely. The UnGala was also vital in our efforts to raise funds for the 2021 Scholarship Program.

INSURANCE SOCIETY OF PHILADELPHIA PRESENTSungalaungalaEventPhiladelphia Insurance Companies

DiamondAXA XL

Chubb

Graham Company

Liberty Mutual Insurance

Marsh

Pennsylvania Lumbermens Mutual

Temple University

THANK YOU TO OUR 2020 TOP LEVEL SPONSORS

THE

donate.onecause.com/giveungala/donate

SCHOLARSHIPS AND CONTINUED EDUCATION PROFESSIONAL GRANTS$106,288 were awarded this year to Students and Young Risk Management Professionals.

Five Continuing Education Professional Grants equaling $17,288 were awarded to the following young professionals:These grants are to award Insurance, Actuarial Science and/or Risk management professionals who have made a commitment to the profession, are recognized within their Organization as future leaders and have demonstrated a commitment to self-development.

Sabrina Van Horn – PMA CompaniesJohn Thiel – GenRe

Kayla Hindman – ESISKristen Skulsky – Munich ReBen Forster – Zurich NA

Eighteen scholarships equaling $89,000 were awarded to the following students:These scholarships are to award students engaged in the study of Insurance and Risk Management or Actuarial Science.

TUESDAY, APRIL 13 – THURSDAY, APRIL 15

#PHILLYIDAY2021

2021 AND BEYOND:ADAPTING IN A DISRUPTIVE WORLD

SAVE THE DATE


http://donate.onecause.com/giveungala/donate

NEXT GEN COMMITTEESpeaker SeriesIn the beginning of 2020 prior to the shutdown, we hosted two professional development speaker series on the topics of Emerging Risks: Active Shooter Coverage presented by Erin McCane, Willis Towers Watson and Insurtech presented by Michael Angelina, Executive Director, Maguire Academy of Insurance and Risk Management, St. Joseph’s University.

Virtual Intern SeriesOur leadership team decided to pivot our annual Intern Symposium into a Virtual Intern Series held every Friday morning spanning nine consecutive weeks. In the Virtual Intern Series, NextGen brought together professionals from an array of career paths within the insurance industry, including actuarial, risk control, underwriting, brokers (retail and wholesale), business development/sales, legal, medical management and talent acquisition. Throughout the series, over 40 participants attended each session.

Toys For TotsWe ended the year in honor of giving back to our comm-unity as we held our first virtual Toy Drive to benefit Toys For Tots in Philadelphia. We received approximately 50 donations through our Amazon toy registry.

NOMINATING COMMITTEE During the 2019-2020 year, the nominating committee was able to secure 1 new board member and retain 3 to serve in the upcoming year. Newly Elected: Ann Marie Snyder, AXA XL. To serve an extended term: Dave Bennink, Aon; Storm Wilkins, Temple; Dianne Salter, Corporate Insurance Services.

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 – 2020 twenty three student scholarships and continuing education grants were awarded equaling $106,288 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.

Audited Six-Month Stub Period Ending December 31, 2019* Statement of ActivitiesTotal Revenue $853,487

Total Expenses $371,774

Change in Net Assets $481,713

State of Financial PositionTotal Assets $2,153,625

Total Liabilities $90,198

Net Assets without donor restrictions $2,063,427

Total Liabilities and Net Assets $2,153,625

Unaudited Fiscal Year Ending December 31, 2020Statement of ActivitiesTotal Revenue $149,618

Total Expenses $393,844

Non-Operating Revenue $55,367

Change in Net Assets ($188,859)

State of Financial PositionTotal Assets $1,979,687

Total Liabilities $105,120

Net Assets without donor restrictions $1,874,567

Total Liabilities and Net Assets $1,979,687

Charitable SupportISOP supported the following organizations in the second part of 2019 business year:

• Marine Toys for Tots Foundation (NextGen Initiative)

• Philadelphia Fire Department and Citizens for Fire Prevention ($60,000 in conjunction with 2019 Independence Gala)

F INA NCIAL SNAPSHOT

CO MMIT TEE UPDATES

*ISOP converted from a June 30th fiscal year end to a December 31st fiscal year end as it transitioned from 2019 to 2020, thus the one-time stub period reporting.


Documents

JUNE 2019 - DECEMBER 2020 ANNUAL REPORT