November 09, 2016

Missouri Association of Mutual Insurance Companies Annual Conference Highlights Global Issues

Director John Huff recognized with Service Award for his public service as Missouri Chief Insurance Regulator

Jefferson City, Mo. - Missouri Department of Insurance Director Chief Industry Liaison and Market Regulation Director Angela Nelson addressed nearly 500 producers, insurers and industry at the association’s annual awards luncheon in Columbia.  Nelson highlighted the strength of the Missouri insurance market, both globally and within the United States, and shared recent claims and loss trends in the homeowners’ insurance market.  

Nelson also accepted MAMIC’s Service Award on behalf of Missouri Insurance Director John Huff.  The MAMIC Board of Directors bestowed this honor on Huff in recognition of his strong support of the insurance industry and in particular, for being a valuable resource and supporter of Missouri Mutuals. 

“For the recognition of this Award, I thank MAMIC and I likewise extend my deep appreciation for our work together over the last eight years,” Huff said in prepared remarks.  “One of the finest examples of our industry was the response to the Joplin tornado.  Without the insurance industry and their infusion of capital, Joplin would likely have never recovered.”

Nelson also discussed a number of issues impacting the insurance industry today including cybersecurity, corporate governance standards as well as state regulators’ continued work on the potential consequences of a covered agreement.  State regulators’ primary objective on a covered agreement is to guard against preferential treatment being given to large foreign reinsurers; ensuring creditworthy reinsurance remains available and affordable to county mutuals. 

MAMIC was established in 1895 to preserve and safeguard the financial security of small county mutual insurance companies. The association's board of directors is composed of leaders who reside in the rural communities that they serve.