JACKSONVILLE, Fla.--(BUSINESS WIRE)--A previous version of this release incorrectly stated that Florida CFO Jeff Atwater and Florida Division of Insurance Fraud Director Simon Blank would attend this event.
The corrected release reads:
INSURANCE REGULATORS, FORMER FLORIDA INSURANCE COMMISSIONER TOM GALLAGHER TO SPEAK AT INTERNATIONAL ASSOCIATION OF INSURANCE RECEIVERS ANNUAL INSOLVENCY WORKSHOP
Florida's former Insurance Commissioner and Chief Financial Officer Tom Gallagher will join a slate of other luminary speakers at the International Association of Insurance Receivers (IAIR) Annual Insolvency Workshop from February 24-26 in Amelia Island, Florida.
Mr. Gallagher, who consults for the law firm of Colodny Fass, will join Florida Office of Insurance Regulation Chief of Staff Belinda Miller, former New York Department of Insurance Superintendent James Corcoran and others for a panel on working with government officials in the context of an insurance company insolvency.
In its overview of the program, the IAIR explains that the insolvency of an insurance company can result in political and economic consequences. The aftermath may include job losses, investment declines and bad press, all of which could be of great concern to those who depend on the local electorate to maintain their jobs. In order to diminish harmful results for not only creditors and policyholders, but also the employees and other affected parties, those involved may need to seek assistance from state legislatures, state executive branch officials and insurance regulators. Mr. Gallagher and his fellow panelists will address how to work productively with government officials who may have limited knowledge of insurance and insurance insolvency issues.
As the IAIR's premier event, the Workshop is known for providing exclusive, focused education and networking opportunities for insurance receivers, regulators, guaranty fund personnel, and other insurance insolvency professionals. It includes an interactive program of trends and issues in insurance insolvencies and troubled companies.
As Florida's former Insurance Commissioner, Tom Gallagher oversaw the state’s insurance industry, including property and casualty, life and health, specialty lines and other regulated entities. He handled consumer protection through oversight of insurance company solvency and market conduct. He authored Florida’s residual market statutes after major insurers withdrew from Florida after Hurricane Andrew. He also served as Florida’s first Chief Financial Officer.
