Indianapolis, IN, (October 20, 2009) - The Florida Workers' Compensation Insurance Guaranty Association announces the re-election of Richard Palczynski, a resident of Jupiter, Florida, to its Board of Directors. His term will run from October 1, 2009 through September 30, 2013.
Palczynski is the Founder & Principal of SeaTower Consulting. Most recently he held the position of Senior Vice President with Towers Perrin Reinsurance, having joined that organization in 2004. Palczynski retired in 2003 from The Hartford Financial Services Group as the Group Senior Vice President and Chief Actuary. His career spans 28 years with the Travelers Property Casualty Corporation where his expertise guided all aspects of Workers' Compensation strategy across all markets and disciplines.
Highlights of his career include the implementation of the first workers' compensation teleclaim system and the design and launch of the first large deductible product. As a Fellow of the Casualty Actuarial Society, Palczynski is also a member of the American Academy of Actuaries and is a recognized expert in the field of Workers' Compensation.
Palczynski has served on the board of directors of the National Council on Compensation Insurance and the Workers' Compensation Research Institute.
He received a B.S. in Mathematics from the University of Rhode Island and a M.A. in Probability and Statistics from the University of Maryland. As an adjunct faculty member, he has served the University of Connecticut, the University of Hartford, and Temple University.
About FWCIGA
FWCIGA is the statutorily created guaranty association responsible for the administration of workers' compensation benefit payments incurred by insolvent insurance companies and group self-insurance funds operating in the State of Florida. FWCIGA is a member of the National Conference of Insurance Guaranty Funds (NCIGF).
About NCIGF
NCIGF is a nonprofit association that provides national assistance and support to the property and casualty guaranty funds located in each of the fifty states, Puerto Rico and the District of Columbia
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Established nearly 40 years ago by the insurance industry and public policymakers to cover the outstanding claims of insolvent insurance companies, the property and casualty guaranty fund system has delivered a measure of protection to hundreds of thousands of policyholders, beneficiaries and their families who otherwise would experience lengthy delays getting resolution of their claim and usually receiving only a fraction of the amount due from the insurer.
The guaranty funds provide an essential safety net for policyholders, one that meets the needs of those least able to deal with losses should their insurance company fail.
For more information on FWCIGA, visit www.fwciga.org.
For more information on the NCIGF, visit www.ncigf.org.