RENO, Nev.-based EMPLOYERS Senior Vice President and Chief Claims Officer Stephen V. Festa has been named chairman of the board of governors of the California Insurance Guarantee Association, a body that pays the claims of insolvent property and casualty insurance carriers.
Prior to being elected chairman, Festa most recently served as the CIGA board’s vice chair. Festa first joined the CIGA board in 2009, representing EMPLOYERS as an Insurer Member, and he remains the only C-level claims executive to serve on the board. CIGA provides a mechanism for the payment of covered property, casualty, and workers’ compensation insurance claims of insolvent insurance companies as defined by the insurance code and specific case law.
Festa has served as senior vice president and chief claims officer of EMPLOYERS and its subsidiary, Employers Compensation Insurance Co., since 2004, and he has more than 25 years of industry experience.
Employers Holdings Inc. (NYSE: EIG) is a holding company with subsidiaries that are specialty providers of workers’ compensation insurance and services focused on select small businesses engaged in low-to-medium hazard industries.
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