Co-op Insurance news

Annual Policyholders' Meeting and Luncheon April 3

Co-operative Insurance Companies' annual policyholders' meeting and luncheon took place on Tuesday, April 3.

The meeting began at 10am at the Co-operative Insurance Companies offices at 292 Colonial Drive in Middlebury, Vermont.

A luncheon followed at the Middlebury Inn at noon, celebrating director milestones and featuring entertainment by the Mt. Abraham UHS a cappella group.

Co-op's financial strength rating affirmed

In December 2011, industry credit rating organization AM Best affirmed Co-operative Insurance Companies' financial strength rating of A (Excellent) with a stable outlook.

The affirmation demonstrates continued belief in Co-op's ability to meet its obligations to policyholders.

AM Best based the rating on Co-op's strong risk-adjusted capitalization, trend of favorable underwriting performance and well-established local market position, weighed against the climate, competitive, and expense challenges of a northern New England market.

For more about Best's Ratings, visit their site at www.ambest.com/ratings.

2011 Visions member newsletter

Co-op Insurance donates $20K to food banks

Again this December, Co-op donated $10,000 to the Vermont Foodbank and $10,000 to the New Hampshire Food Bank on behalf of its employees, directors, and agents.

"Our job as an insurance company is to provide financial security to our tens of thousands of member policyholders," said Marie Jewett, Co-op's president and CEO. "Our responsibility as members of our communities is to find where we're needed in those communities and to give something back. And we know that again this year, too many people are struggling to provide their families with enough to eat."

The Vermont Foodbank serves a network of 280 food shelves, pantries, shelters, senior centers, group homes, and other programs that assist more than 85,000 Vermonters each year. The New Hampshire Food Bank serves more than 400 similar partners to provide food to almost 125,000 New Hampshire residents.

"We feel that supporting the Vermont Foodbank and New Hampshire Food Bank is as important this year as it ever has been," said Jewett. "It's the best way for us to help as many people as possible fill the most basic of needs."

Officers promoted in December

Co-op has named Eric Rhoades Senior Vice President of Claims and Loss Control Manager, and Brad Fortier has taken on the role of Senior Vice President of Marketing and Underwriting.

"We're excited to have Brad take on oversight and leadership of underwriting in addition to his marketing role," said Marie Jewett, Co-op's president and CEO. "This will promote our underwriters and marketers working more closely together to offer the products and services our policyholders need, with a continued focus on financial stability and profitable growth. Similarly, Eric’s oversight of loss control and claims is improving efficiency in both areas. Cross-training of those departments means we've got more people in the field able to identify hazards, reduce the chance of loss for our members, or respond to their claims."

Both Brad and Eric have been with Co-op since 2008, and the two were made officers of the company in April, 2010.

New president at Co-operative Insurance Companies

Co-operative Insurance Companies' board of directors is pleased to announce that Marie Jewett became president and CEO of Co-op effective June 1, 2010.

Jewett succeeded Jim Sullivan, who stepped down from his duties to concentrate on his health. He will act as special assistant to the president for the remainder of 2010.

Sullivan began his Co-op career in 1976 as an underwriter, moving up to VP of underwriting and chief operating officer before becoming president and CEO in 2000. He's led national organizations such as American Association of Insurance Services, and been active in local business organizations, including the the Addison County Economic Development Council and the Addison County Chamber of Commerce.

"It's bittersweet to leave Co-op after all these years," said Sullivan. "But it's a good time, for me and for the company, to make a change. Marie, her management team, and all of Co-op's staff, are up to the challenges ahead. I'm grateful to the board for its timely consideration of my request, and look forward to many healthy years for me and Co-op."

Jewett has been with the company since 1978, also advancing through the underwriting department. In 2005, she became executive vice president of insurance operations, and in 2008, president of UI Insurance Services, Inc, Co-op's wholly owned subsidiary. She oversaw both companies' underwriting operations, as well as Co-op's loss control, marketing, and claims functions. In late 2008, Co-op's board appointed her acting president during Sullivan's medical leave of absence.

"I'm honored that the board recognized the strong team we have in place," said Jewett, "and appreciate their confidence in my ability to lead it. I'm looking forward to continuing to build on Co-op's strong foundation."

Co-op sponsoring event to benefit NH Food Bank

Co-op Insurance was proud to be a Gold Sponsor of the International Fantasy Hair and Modeling Competition at the Verizon Wireless Arena in Manchester, NH, on April 22, 2010.

The annual event was a benefit for the New Hampshire Food Bank.

More than 30 stylists from across the country showcased breath-taking (and often gravity-defying!) hair designs in a competition for prize money and bragging rights, and in support of a great cause.

Learn more about the New Hampshire Food Bank.

Co-op's financial strength rating upgraded

In December 2009, industry credit rating organization AM Best upgraded Co-operative Insurance Companies' financial strength rating to A (Excellent) with a stable outlook.

The upgrade (from A- (Excellent)) demonstrates continued belief in Co-op's ability to meet its obligations to policyholders.

AM Best based the upgrade on Co-op's strong risk-adjusted capitalization, favorable underwriting performance and well-established local market position, weighed against the climate, competitive, and regulatory challenges of a northern New England market.

"AM Best does not hand out rating upgrades lightly," said Jim Sullivan, president and CEO of Co-operative Insurance Companies. "It takes years of demonstrated responsible operation and steady performance to achieve an upgrade. We are pleased that AM Best's analysts share our confidence in our people, programs, and direction."

For more about Best's Ratings, visit their site at www.ambest.com/ratings.

Co-op stays the course with 2010 initiatives

Co-op will continue to invest in technology and people in the coming year.

The 2010 business plan continues the large-scale push that began last year to give its agents a quicker, easier way to quote new business and endorse existing policies online.

Co-op will also continue its multi-year succession planning and management project, fill some necessary new roles, continue the long-range planning process, and update its vision statement to a 2015 horizon.

"Everything we do and plan for the future is with our member policyholders in mind," said Marie Jewett, EVP of operations. "We considered our customers' evolving needs, the current economic situation, and the actions required to remain a viable, strong regional carrier. Then we created a solid plan for the hard work we'll do in 2010."

Co-op staff and agents win awards

Two Co-operative Insurance Companies agents and a company employee won awards at the Green Mountain Association of Insurance Women's annual awards meeting in Rutland, VT, on Feb 10, 2009.

Carol Bushey of the Frankenburg Agency in Randolph, VT, won Insurance Professional of the Year honors, while Ed Matulionis of Davis Insurance Agency in Ludlow, VT, was named Insurance Professional of the year. Carol and Ed are now in the running for statewide honors at the annual meeting of the Vermont state council of NAIW.

Madeleine Quesnel, a farm underwriting assistant at Co-op, was awarded the Green Mountain Rainbow prize in honor of her continued commitment to the growth and development of GMAIW.

GMAIW is one of three Vermont chapters of NAIW, a professional development organization for the insurance and risk management industries.

Middlebury Lions honor Fletcher "Buster" Brush

On Dec 7, 2008, the Middlebury Lions Club Memory Tree was dedicated to the memory of Co-op employee Buster Brush.

On the same evening, the Lions awarded Buster their highest honor, the Melvin Jones Fellowship. Though Buster was not a Lion, as a Rotarian, he worked closely with the Lions on a number of projects over the years. His wife Jeanette accepted the award.

Fletcher "Buster" Brush, Nov. 5, 1949 - Nov. 7, 2008

Co-op employees, agents, and staff, along with scores of others in Addison County and beyond, mourn the loss of our colleague and dear friend Buster Brush.

Buster spent most of his 59 years showing us all what dedication to community truly is. As evidenced by touching tributes to him in local and regional papers and online, those who will feel his absence are legion.

We are proud to have known him, and prouder still that part of his legacy is here at Co-op. In his 28 years here, he was able to organize and oversee efforts related to causes important to him (and Co-op), including our youth driver safety training partnerships, our community grants and charitable giving programs, and our fundraising efforts for the Make-A-Wish Foundation of Vermont.

Godspeed, Buster.

New managers at Co-operative Insurance Companies

Co-op filled two management team slots in spring 2008, hiring Eric Rhoades as claims manager and Bradley Fortier as director of marketing operations.

"Brad and Eric's extensive industry experience and leadership skills will benefit their workgroups and the whole company," said Jim Sullivan, Co-op's president and CEO. "We're pleased to welcome them."

Rhoades became claims manager in March after eleven years with Progressive Insurance in Colchester, VT, and two with AAA Northern New England. He holds bachelor's and master's degrees in business from Husson College.

Fortier came aboard in June. He has spent 26 years in the insurance industry, most recently at Vermont Mutual Insurance Group and at Champlain Casualty Company, both in Montpelier. He is a graduate of Champlain College and holds AAI and CIC designations.

Co-op CEO resumes chairmanship of AAIS

In spring 2008, Co-op president and CEO Jim Sullivan stepped back into the role of chair of the American Association of Insurance Services. He fills the vacancy left by Darin Kath of Integrity Mutual Insurance Co of Wisconsin.

AAIS is a national advisory organization that develops policy forms and rating information for more than 600 property and casualty insurers throughout the country.