IBA West Membership Approves 2004 Resolutions

Members of the Independent Brokers and Agents of the West approved eight resolutions at the recent 2004 Installation of Officers and Directors and Annual Meeting in Los Angeles. Three of the eight resolutions address the continuing need for workers’ compensation reform. The first resolution urged the Legislature to complete the job of reforming the state’s workers’ compensation system by eliminating unnecessary costs and to provide more equitable benefits to injured workers. The membership also committed to strongly supporting legislators, or candidates for their offices, who will vote to enact such reforms.

A second resolution congratulated Governor Arnold Schwarzenegger on his election and his pledge to make California a place for businesses to flourish and provide more jobs. He was further commended for his challenge to lawmakers to eliminate $11 billion in unproductive costs from the workers’ compensation system. The membership pledged to assist the governor’s administration to achieve these goals.

In a third resolution, the membership also commended Insurance Commissioner John Garamendi for his efforts to address the dysfunctional workers’ compensation system that reduced the market to a handful of insurance companies. Commissioner Garamendi was applauded for using his office to draw public and media attention to the seriousness of the crisis.

In a related resolution, the IBA West membership commended the California Insurance Guaranty Association (CIGA) for diligently fulfilling its purpose of protecting Californians in the event of an insurer’s insolvency. CIGA has faced unprecedented liabilities in the wake of numerous insolvencies in the workers’ compensation insurance market. In the 2003 legislative session, CIGA proposed financing mechanisms that were enacted to effectively guarantee CIGA’S long-term financial stability should the unprecedented number of insolvencies continue into the future. IBA West commended CIGA for their effective leadership and steadfast efforts to protect the people of California and the state’s economy.

The IBA West membership commended IBA West California Advocacy Fund co-chairs, Andrew Valdivia and Stanley Simpson for reaching the first fundraising milestone in just three months. Over $200,000 has been raised to date. The board of directors established the fund to enable the association to join with employers and other interested parties in coalitions to advocate for reform of the state’s workers’ compensation system. Those gathered at the meeting also acknowledged all the members who have generously contributed to the fund and urged those who had not to do so at their earliest opportunity.

The IBA West membership also commended courageous firefighters, police and emergency services personnel who valiantly fought the devastating wildfires that swept across the southern California region beginning Oct. 25, 2003. IBA West also commended the people of the insurance industry who were quickly deployed to the fire areas, paying claims and assisting policyholders to begin to rebuild their lives and their communities. Insurers expect to pay more than 19,000 claims valued at more than $2 billion to homeowners and businesses to restore insured properties damaged or destroyed by the southern California wildfires.

In recognition of service, the IBA West members acknowledged the leadership of outgoing President Neal Nakashima and the service of the board of directors, committees and staff of the association.

Finally, the membership expressed its deepest gratitude and never-ending appreciation to the honorable Jerry W. O’Kane for his outstanding leadership of the best association of independent brokers and agents anywhere in the world. IBA West is widely recognized as a leader among trade associations representing independent insurance agents and brokers, and this reputation is attributable to the leadership of Jerry O’Kane who has served as chief executive officer since June of 1982. O’Kane announced his retirement, effective later this year, and stated this is his final annual meeting as CEO of IBA West.

Topics California Agencies Workers' Compensation