ISOP-18-AnnualReport-FINAL

INSURANCE SOCIETY OF
PHILADELPHIA 2017–2018
ANNUAL REPORT

www.insurancesociety.org

MISSION LETTER FROM THE
STATEMENT: CHAIRMAN

To deliver exceptional ROGER FELL
value to the Risk and
Insurance Community As the incoming Chair of the Insurance Society of Philadelphia (ISOP) and long-
by providing a forum for time Board member, I have never been more excited about the current state
networking, scholarships, of our Association and the prospects for its future. We’re in a great position to
career development and continue to Connect, Educate and Serve our members and others serving our
charitable support. industry in the Delaware Valley.

VISION I would first like to thank our outgoing Chair, Dianne Salter, for her leadership,
STATEMENT: energy and hard work over the past three years as ISOP took important steps
to become more focused and efficient. She helped to lead our organization to
To be the premier become better able to serve our members and we are profoundly grateful for
organization for her dedication and professionalism.
networking, career
development, and I would also like to thank our recently retired Board members who have
charitable support for dedicated countless hours in serving the Society over many years. Without
the Risk and Insurance their support and talent, the Insurance Society of Philadelphia would not be
Community. where it is today.

This Annual Report is the first we’ve published in some time and it’s designed
to keep you, our members, informed of ISOP’s past and future initiatives. We
hope you find it informative and insightful as we welcome your comments and
hope you will continue to support and engage in our Association.

The Insurance Society of Philadelphia is over a century young and works to
continuously evolve so that we can provide value to our members and be
recognized as “THE” insurance-related professional association in the region.
We are unique in that our association serves risk professionals, law firms,
insurance carriers, retail and wholesale brokerage firms, agents and related
support organizations serving the insurance industry. As demographics
and online offerings evolved in recent years, we have purposely shifted our
focus from predominantly offering classroom training to a broader vision of
Connecting, Educating and Serving our industry and our members.

We review many of our events and activities in this report, but we are
particularly proud of the local support we provide to our young professionals
and college students. Our industry cannot continue to thrive and prosper in
this region without attracting and retaining the best and brightest talent.
We also welcome the support of our association management partner, AH
(Association Headquarters) as we continue to look for opportunities to provide
better, more efficient and cost-effective service to our members.

Lastly, I want to thank all Insurance Society of Philadelphia members and
member companies for your continued support and engagement. We could
not accomplish our mission without all of you.

On behalf of the Board, we look forward to serving you in the years ahead.

Roger Fell

ISOP’S CORE VALUES

integrity teamwork &
synergy
We are honest and ethical in all business
dealings, trusted by all with whom we interact, We establish an environment where teamwork and
ensuring we continuously protect and enhance synergy exist within the Insurance Society staff, as
the image of the Insurance Society of Philadelphia well as with Member companies to maximize the
in the insurance, risk management and value of our services through strategic partnerships.
community at large.

diversity adaptability

We embrace and promote a culture of inclusion that We strive to meet the ever-changing needs of
encourages, supports and celebrates the diverse our Member companies as quickly as possible
voices and ethnicities within the Risk and Insurance by providing value-added services in a fiscally
community, and we strive to create an inclusive responsible manner.
culture where all forms of diversity are seen as real
value within our community.

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ISOP MEMBERSHIP COMPOSITION

13% 2%
13%

13% ANCILLARY
35% BROKER/AGENCY
INSURANCE CARRIER
LAW FIRM
RISK MANAGEMENT DEPT
UNIVERSITY

58%

FULL COMPANY LIST

ADMIRAL INSURANCE GREEN TREE PERPETUAL ASSURANCE COMPANY NATIONWIDE
AIG GUY CARPENTER NEW DAY UNDERWRITING MANAGERS LLC
AMERISOURCEBERGEN CORPORATION HANOVER FIRE & CASUALTY INSURANCE NJM INSURANCE GROUP
AMWINS BROKERAGE COMPANY ODELL STUDNER GROUP, LLC
AON HARTFORD STEAM BOILER PENNSYLVANIA LUMBERMENS MUTUAL
ARAMARK HUGGINS ACTUARIAL SERVICES, INC. INSURANCE COMPANIES
ARC MIDATLANTIC EXCESS & SURPLUS, LLC IMPERIAL AGENCY, INC. PHILADELPHIA CONTRIBUTIONSHIP
ARTHUR J. GALLAGHER RMS, INC. INDEPENDENCE BLUE CROSS CITY OF PHILADELPHIA
ASPLUNDH TREE EXPERT COMPANY INSURANCE OFFICE OF AMERICA (DVGIA) PMA COMPANIES
AXA XL INTERCORP, INC. QUAL-LYNX
BB&T-THE ADDIS GROUP IRONSHORE INSURANCE SERVICES RCM&D
BENEFICIAL INSURANCE SERVICES J.M. PATTON ASSOCIATES, INC. REILLY, JANICZEK, MCDEVITT, HENRICH &
BERKLEY PUBLIC ENTITY MANAGERS JIMCOR AGENCIES CHOLDEN, P.C.
BERKLEY RE DIRECT JLT RE RUETER INSURANCE AGENCY INC.
BEYOND INSURANCE JOHNSON & JOHNSON, INC., MANAGERS, CMGA SAINT JOSEPH’S UNIVERSITY
BRADLEY & BRADLEY ASSOCIATES JOHNSON MATTHEY SIGNATURE CONSULTING SOLUTIONS
CANTRILL CLARK INC. JOHNSON, KENDALL & JOHNSON, INC. SIMKISS & BLOCK
CGM ACCOUNTING ASSOCIATES, INC. KIM & WRIGHT P.C. SOUTHEASTERN PA TRANSPORTATION AUTH
CHUBB LIBERTY MUTUAL INSURANCE GROUP (SEPTA)
CNA LUNAR AGENCY, INC. STARR COMPANIES
COMMONWEALTH INSURANCE ADVANTAGE M & T INSURANCE AGENCY SWETT & CRAWFORD
COMMUNITY ASSOCIATION MADISON RISK GROUP, LLC TEMPLE UNIVERSITY – FOX SCHOOL OF BUSINESS
UNDERWRITERS (CAU) MAIDEN RE TIMONEY KNOX, LLP
CONNER STRONG & BUCKELEW MARGOLIS EDELSTEIN VANGUARD CLAIMS ADMINISTRATION, INC.
CORPORATE INSURANCE SERVICES MARKS, O’NEILL, O’BRIEN, DOHERTY VENTURE PROGRAMS, INC.
DOMENICK & ASSOCIATES & KELLY. P.C. W. BRUCE BEATON CO., INC.
ECBM INSURANCE BROKERS & CONSULTANTS MARSH USA, INC. WILLIS RE
EINSTEIN HEALTHCARE NETWORK MARTIN & COMPANY WILLIS TOWERS WATSON
FEDERAL HOME LOAN BANK OF PITTSBURGH MAZARS USA, LLP WORTLEY/POOLE PROFESSIONAL LTD.
FOWLER HIRTZEL MCNULTY & SPAULDING, LLP MCKEE RISK MANAGEMENT ZENITH INSURANCE COMPANY
GEN RE MESA UNDERWRITERS SPECIALTY INSURANCE ZURICH NA
GLENN INSURANCE INC. COMPANY
GOLDFEIN & JOSEPH, P.C. MILLIMAN
GRAHAM COMPANY MLA CLAIMS, LLC
MUNICH REINSURANCE AMERICA

2 | www.insurancesociety.org

BOARD RECOGNITION & COMMITTEE CHAIRS

EXECUTIVE COMMITTEE BOARD MEMBERS (as of June 21, 2018)
BOARD CHAIR Frederick Anton, JLT Re
Roger Fell Dave Bennink, Aon Risk Solutions
Marsh USA, Inc. Butler Buchanan III, Marshall Dennehey Warner Coleman &
Goggin
VICE CHAIR Brian Clouse CPA, Mazars, USA LLP
Edward Hanna Tim Conrad, Maiden Re
RCM&D Jen Corry, The Graham Company
Anita Devan, Zenith Insurance Company
SECRETARY Nicholas Ditomassi, AIG
Robert Poliseno Jeffrey Dunn, Glenn Insurance Inc.
Chubb Roger Fell, Marsh USA, Inc.
Brian Grimm, Willis of Pennsylvania, Inc.
IMMEDIATE PAST BOARD CHAIR Richard Hall, Pennsylvania Lumbermens Mutual Insurance
Dianne Salter Company
Corporate Insurance Services Edward Hanna, RCM&D
Robert Ivey, McKee Risk Management
P. Drew Jones, PMA Companies
Thomas Kelley, Liberty Mutual Group
Ronald Kuehn, Huggins Actuarial Services, Inc.
Joseph Maher, Starr Companies
Robert Poliseno, Chubb
Joseph Robinson, Beneficial Insurance Services
Steven Rosen, AB&C Creative Intelligence
Dianne Salter, Corporate Insurance Services
Steven Skowronski, KSRS Consulting, LLC
Thomas Trullinger, Zurich North America
Storm Wilkins, Temple University - Fox School of Business

TREASURER COMMITTEE CHAIRS
Steven Skowronski
KSRS Consulting, LLC Finance Committee
Steven Skowronski, KSRS Consulting, LLC

Nominating Committee
Ed Hanna, RCM&D

Membership Committee
Brian Grimm, Willis Towers Watson

Scholarship Committee
Dianne Salter, Corporate Insurance Services

Gala
Joe Maher, Starr Companies and Amanda Braz, Chubb

I-Day
Rob Poliseno, Chubb and Paul Griffing, NSM Insurance Group

NextGen
Denise Hunter, Zurich

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updates

MEMBERSHIP INDEPENDENCE GALA

The membership committee was formally re-established in the The 2017 Independence Gala hosted
summer of 2017 with Brian Grimm leading as the committee over 500 attendees and generated
chair. Committee members originally included Fred Anton, Nick over $40,000 in donations for the
Ditomassi and Rich Hall with David Bennik and Jeff Dunn joining Philadelphia Fire Department
mid-year. The committee was given a “clean slate” to determine Foundation. Former Mayor of
how they would best serve the membership given the society’s Philadelphia, Michael Nutter, was
own transformation over the past few years. The committee initially honored with the Distinguished
undertook a review of the membership by-laws to ensure they Leader Award.
were still in order as well as a creation of the committee’s charter.
It was determined that the committee’s focus and purpose will be 2017 PLATINUM SPONSORS
on the engagement, recruitment, orientation and retention of its Willis Towers Watson
membership base. Zurich NA
Conner Strong & Buckelew
Two other areas of recent focus for the committee have Graham Company
been formalizing our value proposition and getting a better Norman Spencer McKernan, Inc. (NSM)
understanding of the composition of our membership. The PMA Companies
society as a whole underwent a strategic review in Q1 2018 and Pennsylvania Lumbermens Mutual Insurance Companies
the value proposition has been aligned with the outcomes of Chubb
this review. Our organization brings the entirety of the Risk and Maiden Re
Insurance community together and our focus is providing a forum
for networking, scholarships, career development and charitable UPDATE: Our 2018 Independence Gala took place in November.
support. One of the main tasks the committee will be focusing We hosted over 730 guests at the prestigious Kimmel Center
on in the near term is reviewing the membership structure and for the Performing Arts. Additionally, we exceeded last year’s
associated dues. donations and revenue by over $100,000.

20 19

PHILLY I-DAY 2018 TPUEENSNDSYALVYCA,ENNAIATPECRROINLV9EN, T2IO0N19

The 2018 Philly I-Day hosted over 600 attendees including 84 students.

Harvey Johnson, Executive President of Disaster Services for the American Red Cross

gave a keynote address during lunch; ISOP Disaster Relief efforts collected a total of

$15,475 and presented the check to Harvey Johnson to accept on the American Red Cross’ behalf.

Following Mr. Johnson, Dr. M. Moshe Porat, former Dean of the Fox School of Business and School

of Sport, Tourism and Hospitality at Temple University was honored with the Franklin Award. ISOP

Scholarship Committee received 14 applicants and awarded $30,000 in scholarships to 7 students.

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NEXT GEN PARTNERSHIP
OVERVIEW
In 2017, Insurance Society NextGen (ISNG) generated $16,500
in sponsorships, which promoted the ISOP and ISNG mission to In January, 2018, ISOP transitioned to a
develop and empower the future leaders of our local insurance new management firm.
community. NextGen hosted 10 well-attended events throughout
the year and plans to continue their successful participation at The firm, Association Headquarters (AH), specializes in non-
future events. profit and association management, currently overseeing
40+ associations and membership organizations worldwide.
NOMINATING With a team of 165 industry professionals on staff, we now
have access to all the resources we need to lead ISOP into
During the 2017-2018 year, the nominating committee was able the future.
to enlist four new Board members to serve in the upcoming year.
Those elected were: Sherry Ardito, Brian Clouse of Mazars, USA, ISOP has three dedicated team members that will be working
LLP, Jennifer Corry of The Graham Company, and Joe Robinson of directly with the ISOP Board of Directors and Committees to
Beneficial Insurance Services. help make your ISOP experience a positive and memorable
experience.
SCHOLARSHIP
MEET THE TEAM:
The Insurance Society of Philadelphia awards scholarships
annually to students in the Delaware Valley who are engaged
in the study of Insurance, Risk Management and Actuarial
Science. This program was created to support the studies
and professional development of current students and young
professionals in the industry. In 2017, seven scholarships were
awarded, $30,000 in total. Proceeds from the Independence
Gala and Philly I-Day support these scholarships, allowing ISOP to
continue it’s mission to further education.

Gabrielle Copperwheat
EXECUTIVE DIRECTOR

RECOGNITION OF 2018 WINNERS

Ashley Myers St. Joseph’s University Leah McGonigle
MEMBERSHIP & MEETINGS
Matthew Manzo Temple University COORDINATOR

Adam Stoudt Temple University Jenna Even
MEETING MANAGER
Brian Fritz Temple University

Daniel Tan St. Joseph’s University

Samantha String St. Joseph’s University

Lauren Morell LaSalle University

FINANCIAL SNAPSHOT

STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS

12 months ended June 30, 2018

Total Revenue $528,120

Total Expenses $449,132

Change in Net Assets $78,988

STATEMENT OF FINANCIAL POSITION

As of June 30, 2018

Total Assets $1,595,011

Total Liabilities $156,333

Net Assets without donor restrictions $1,438,678

Total Liabilities and Net Assets $1,595,011

CHARITABLE SUPPORT

ISOP Supported the following organizations in the 2017-2018 business year:
• American Red Cross ($15,475)
• Marine Toys for Tots Foundation (NextGen Initiative)
• Philadelphia Fire Department and Citizens for Fire Prevention ($53,000)
• St. Baldrick’s Foundations ($14,043 in conjunction with Philly I-Day 2018)

www.insurancesociety.org