September/Early October Sacramento Claims Association News Network

Sacramento Claims Association News Network

SINCE 1994 WITH SCA

Volume XXV • Number VIII

www.SacramentoClaims.org

Join Us for the third annual SCA

TO P G O L F

Top Golf is all the rage!

adventure October 11, 2018

Bring your clients, associates, cohorts and join the SCA for a fun Top Golf Adventure.

CCNC Silver Anniversary Gets a Taste of Squaw Valley Paradise Beautiful setting sets the stage for successful conference

- see page 6

see page 6

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Sacramento Claims Association News Network • Sept/early Oct 2018

Sacramento Claims Association President

Steve Moore

Barrish Pelham & Associates smoore@barrish.com

Jack Corry

Water, Smoke & Mold Removal jack@watersmokemold.com

Nanette Larsen

Unified Investigations nlarsen@uis-usa.com

2018 SCA Executive Staff

Vice President

Mathieu Schwartz

Hanover Insurance mathieuschwartz@hotmail.com Golf Tournament Committee

Secretary

Treasurer

Rob Sedgwick

Jim McCurley

American Technologies, Inc. robert.sedgwick@ATIrestoration.com Reservations/Membership

2018 SCA Board of Directors Bryan Harrison Jackie Irrgang

Association News Network, Inc. bryan@associationnewsnetwork.com

Andrea Latimer

RegasGroup andrealatimer@regasgroup.com

CRDN of Capitol Corridor jackie.irrgang@crdn.com

Ashley Ramsey

Duarte Construction Ashley@duarteconstruction.com

RGL Forensic Accountants jmccurley@us.rgl.com

Jason Kettlehut

Water, Smoke & Mold Removal jason@watersmokemold.com

Tami Umland

Artland Construction tami.umland@artlandconstruction.com

Sacramento Claims Association News Network • Sept/early Oct 2018

www.SacramentoClaims.org Sept/early Oct 2018 • Volume XXV • Number VIII

A Silver Label & Gold Performance

3

September 2018 Message from SCA President Steve Moore, PE, CASp

CONGRATULATIONS! and a JOB WELL DONE! to the 2018 CCNC Board of Directors!

SCA MISSION STATEMENT:

“The Sacramento Claims Association is a professional organization fostering contact and communication among its members and others in the insurance claims industry. The cornerstone of the Sacramento Claims Association is rooted in four primary areas: Education; Charitable; Communication; and Social.”

We are the First Responders “First Responder”!

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It wasn’t the pleasant weather or the absolutely beautiful setting that I will SCA President remember most about the 25th Annual Steve Moore, PE, CASp Barrish Pelham & Associates, Inc. Claims Conference of Northern California, but more the informative and germane educational tracts, the widely varied and approachable exhibitors, and the charismatic and inspirational key note speakers. Not to mention the icing on the cake…

Wednesday night’s dinner and Silver Anniversary Party was fantastic!

Imagine if you will … After a dramatic 10 minute tram ride taking you more than 2000 feet up sheer granite cliffs to the High Camp Resort, sitting at a table enjoying a nice meal surrounded by colleagues in the insurance industry, and looking out over Lake Tahoe with the setting sun behind you. If you turned your head slightly to the south, you could see the original ice rink and the Olympic rings from the 1960 Winter Games!

I think everyone was absolutely thrilled about the venue as well as the event. It was truly a memorable experience and, although it held a “Silver” title, I believe the CCNC Board had a “Gold” performance!

Once again…congratulations and thank you to everyone involved with this year’s CCNC!

Moving forward and looking to our Event Calendar, it looks like we will be taking a short break in the month of September, and return in a big way in October with our annual Top Golf event. This Social event is usually very well attended and a lot of fun for everyone.

Please visit the SCA website for more information and to purchase tickets and sponsorships!

SCA Elections are on the horizon! We will once again be holding elections for Director positions at the December Charities luncheon.

There is an online candidate application form that all potential Directors must fill out in order to become eligible for the election.

So, if you want to know more information about your SCA… how continued page 4

4

A Silver Label & Gold Performance

Sacramento Claims Association News Network • Sept/early Oct 2018

SCA President’s message continued from page 3

it is run… who is running it… what benefit does Membership bring and why… please fill out an application and join us at the December luncheon.

I look forward to seeing all of you soon! Please remember if you have any questions or concerns do not hesitate to contact me or another Director.

Thank you for your time and your continued support.

Steve Moore

Steve Moore, PE, CASp 2018 SCA President

smoore@barrish.com Barrish Pelham & Associates, Inc. Consulting Structural Engineers c..916.502.7633 • www.barrish.com

What?!

You’re a member of Sacramento Claims Association and your company isn’t represented within these pages?

We can help you change that!

Call, click, email or text and we will make sure you’re in the next issue with an effective, budget-friendly sponsorship solution Reach out now!

925-708-5569 bryan@associationnewsnetwork.com

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Schedule of Upcoming Events Thursday, Oct 11, 2018

3rd Annual SCA TOP GOLF Adventure

- sign-up online: SacramentoClaims.org

Thursday, Dec 13, 2018

Annual SCA Charitable Giving Luncheon - Board Elections as well @ The FIREHOUSE Restaurant 1112 2nd Street Sacramento, CA 95814

Sacramento Claims Association News Network • Sept/early Oct 2018

TOP GOLF

Join Us for the third annual SCA

adventure

5 Join The SCA for the 3rd Annual Top Golf Adventure!

Thursday October 11, 2018

Top Golf • 1700 Freedom Way, Roseville

4:30 pm - 7:30 pm

Sign up at: www.SacramentoClaims.org

Price of Admission includes Appetizers & Drink ticket

Bring your clients, associates, cohorts and join the SCA for a fun Top Golf Adventure.

$35 for Golfers $25 for Non-Golfers Top Golf Sponsorships (6 available)

$250-

Includes two (2) golfer tickets

Secure your spot at:

www.SacramentoClaims.org

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• Electronic Leak Detection & Repair • Infrared Leak Testing • Sub-Slab Plumbing • Sewer Line Video Scans • Pools, Spas & Fountains

3 Origin / Cause / Duration 3 Direct Access / One-Line Bypass Estimates 3 Same Day Reports / Photos

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Sacramento Claims Association News Network • Sept/early Oct 2018

6

CCNC Silver Anniversary Gets a Taste of Squaw Valley Paradise

By Bryan Harrison

Kudos to 2018 CCNC President Jennifer Pinney and the members of her team, including Amaya Fine, Dawn Dawson and others, who pulled together a major feat in producing a successful 25th annual Claims Conference of Northern California August 29th and 30th.

Going on the road with the two-plus day affair up to the Lake Tahoe area was considered by many a bold move undertaken by this year’s committee. Concerns by some over whether folks would travel to attend and participate gave way to an enthusiastic turnout of industry professionals and service providers.

Training sessions for both adjusters and vendors were provided, along with an continued page 11

2018 CCNC MC, Jim Krueger

Past longtime Exhibitor Chair, Lisa Winn, with Greg Marshall

complete photo gallery at: www.AssociationNewsNetwork.com

Sacramento Claims Association News Network • Sept/early Oct 2018

2018 CCNC President, Jennifer Pinney, welcomes the crowd to beautiful Squaw Valley, Lake Tahoe

Keynote speaker, Shawn Fair

2018 CCNC President, Jen Pinney

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Sacramento Claims Association News Network • Sept/early Oct 2018

Commissioner Approves New Program to Streamline Licensing Process for Independent Insurance Adjusters SACRAMENTO, Calif. — Insurance Commissioner Dave Jones announced September 26, 2018 he has approved a Universal Claims Certification (UCC) program from Claims and Litigation Management Alliance (CLM) designed to streamline the licensing process for independent insurance adjusters.

The UCC makes the process of licensing independent insurance adjusters who wish to acquire and manage their independent insurance adjuster licenses in multiple states more efficient. The UCC does not replace an independent insurance adjuster license, but makes the process of securing a license more efficient.

Both licensed and unlicensed individuals can acquire a UCC. However, unlicensed individuals must first go through an intensive training by completing a 40-hour online pre-certification education program and successfully pass an examination to earn the UCC.

"As Insurance Commissioner, one of my top priorities is making sure California's insurance market is healthy and vibrant," said Insurance Commissioner Dave Jones. "The Universal Claims Certification process is designed to streamline the independent insurance adjuster licensing process and reduce costs. Also, the UCC program sets requirements for licensees that exceed the requirements under current California law, meaning it requires licensees to complete more continuing education, which greatly benefits the independent insurance adjusters and consumers. When this program was filed, my department worked to expedite approval so independent insurance adjusters would benefit from the efficiency the UCC is designed to provide. I encourage more organizations to develop innovative programs and business models, like this one, to better serve the needs of the California insurance market."

Currently, independent insurance adjuster applicants are not required to complete any prelicensing education. California's applicants are only required to take and pass the independent insurance adjuster license examination and meet the license requirements to receive an independent insurance adjuster license.

For a licensee to maintain the UCC, the independent insurance adjusters must complete 24 hours of continuing education every two years including five hours of insurance law and ethics. The UCC program's insurance law and ethics requirement exceeds California's required three hours of law and ethics that is a part of and not in addition to the 24-hour continuing education requirement.

Once independent insurance adjusters acquire the UCC, they will be able to more quickly obtain a license in the states where the UCC is currently approved, including Alabama, Florida,

Georgia, Mississippi, Texas, and now California. This will allow out-of-state adjusters to be more readily available when a natural disaster occurs.

"For years, the CLM membership has complained of the tedious state-bystate adjuster licensing process. We first worked to tackle the process of managing multiple licenses with our Tracker product, then we started to work with various states to actually change the licensing process," says CLM Founder and former CEO Adam Potter. "It's exciting to see this work come to life as we launch the UCC." CLM is an insurance industry association with more than 45,000 members that focuses on education and resources. CLM offers over 300 live courses, events and conferences annually.

Jones encourages others to follow lead and adopt climate-related financial disclosure recommendations SACRAMENTO, Calif. — California Insurance Commissioner Dave Jones welcomes the Task Force on Climaterelated Financial Disclosures (TCFD) 2018 Status Report, released September 26, 2018 in New York City during Climate Week NYC. Jones, an early endorser of the TCFD recommendations on Climate-related Financial Disclosures, is the first financial regulator in the United States to adopt the TCFD recommendation to use scenario analysis to assess insurers’ exposure to climate-related transition risk. Jones has undertaken a number of initiatives as Insurance Commissioner designed to increase insurers understanding and focus on climate-related risk.

“Climate change poses risks to the financial sector, including insurance companies,” said Insurance Commissioner Dave Jones. “Widespread

adoption of the TCFD climate risk disclosure recommendations will help ensure climate-related risks are routinely considered in business and investment decisions and encourage an effective dialogue between companies and banks, insurers, and investors, about those risks, which in turn will lead to smarter, more efficient allocation of capital and greater resiliency in the face of climate change.”

Last year, the G-20 Financial Stability Board (FSB) Task Force on Climaterelated Financial Disclosures (TCFD) published their final report, which highlights the physical, transition and liability risks presented by climate change. This report contained climate risk disclosure recommendations for all economic sectors and also supplemental guidance for some sectors, including the insurance sector.

The G-20 FSB Task Force recommended voluntary disclosures and that preparers of climate-related financial disclosures provide such disclosures in public financial filings. Further, they noted that financial-sector organizations should consider using scenario analysis to evaluate the potential impact of climate-related scenarios on individual assets or investments, investments or assets in a particular sector or region, or underwriting activities.

Earlier this month, Commissioner Jones released a new report, Trial by Fire: Managing Climate Risks Facing Insurers in the Golden State, which examines the challenges and opportunities associated with climate risk, climate change, and insurance. The report further shows how climate change is a contributor to wildfire losses in California and dis-

cusses Commissioner Jones’ initiatives to focus insurers’ attention on climate risk and the role of insurers in addressing the three types of climate risks: physical, transition and liability risks.

“Analyzing and disclosing climate risks is smart business, given the increasing frequency and devastation of California’s climate-related disasters,” Jones added. “I urge companies to review and voluntarily adopt the recommendations of the Task Force on Climate-related Financial Disclosures. The climate risk scenario analysis that we have performed on insurer portfolios and are providing to insurers illustrates the value of these recommendations.”

As a national leader on climate change and climate risk, and as the regulator of the largest insurance market in the continued page 10

Sacramento Claims Association News Network • Sept/early Oct 2018

9

Sacramento Claims Association News Network Services Directory Thanks to all our paid directory listing sponsors

ALTERNATIVE DISPUTE RESOLUTION

ERNEST A. LONG ADR - Ernie Long 2630 J Street 916-442-6739 • Fax 916-4424107 Sacramento CA 95816 elong@ernestalongadr.com

ATTORNEYS - DEFENSE

NAGELEY, MEREDITH & MILLER, INC. - Greg Meredith 8801 Folsom Boulevard Suite 172 (916) 386-8282 • Fax (916) 386-8952 Sacramento, CA 95826 GMeredith@NMLawFirm.com PORTER SCOTT - Lindsay A. Goulding 350 University Avenue, Suite 200 www.porterscott.com • 916.929.1481 ext. 470 Sacramento, CA 95825 lgoulding@porterscott.com • Fax: (916) 927-3706

CONTRACTORS-ASBESTOS/LEAD/MOLD REMEDIATION

A-1 REMEDIATION - David Brooks 4270 Pell Drive dave@a1remediation.com • (916) 568-7624 Sacramento, CA 95838 www.A1remediation.com • Fax (916) 568-7639 ALLIANCE ENVIRONMENTAL GROUP - Ed Work 4950 Fulton Drive, Suite E www.alliance-enviro.com • (707) 419-7638 Fairfield, CA 94534 info@alliance-enviro.com AMERICAN TECHNOLOGIES, INC. - Barry Metcalf 2965 Ramco Street. Barry.Metcalf@atirestoration.com • (916) 388-2440 West Sacramento, Ca 95691 Fax (916) 388-2445 JM ENVIRONMENTAL, INC. - John Moore & the JM Team PO Box 2189 www.jmenvironmental.net • (916) 726-0304 Granite Bay, CA 95746-2189 Fax (916) 726-0340 P.W. STEPHENS ENVIRONMENTAL, INC. 1588 Santa Ana Ave. www.pwstephensinc.com • (916) 565-1700 Sacramento, CA 95838 www.pwsei.com SELECT ENVIRONMENTAL – Blake Roath Mold, Asbestos, Lead & General Demolition 5037 College Oak Drive, Suite C selectenviro@gmail.com (916) 256-3899 Sacramento, CA 95841 www.selectenvironmental.org Fax (916) 486-1357

CONTRACTORS - ELECTRICAL

TUCKNOTT ELECTRIC CO. - Robert A. Tucknott, CFLC Forensic Electrical Expert bob@tucknott.com • (925) 931-0800

www.Tucknott.com • Fax (925) 931-0817

CONTRACTORS - GENERAL/RESTORATION

BELFOR USA - Grant Cody 3132 Dwight Rd Ste 300 (916) 399-1865 • Fax (916) 399-9388 Elk Grove, CA 95758 grant.cody@us.belfor.com DH CONSTRUCTION - Ken Daley/Robert King 4324 Orange Grove Ave. www.DHfirerestoration.com • (916) 481-3297 Sacramento, CA 95841 ken@dhfirerestoration.com FITE & COMPANY CONSTRUCTION - Jeff Black 9857 Horn Rd jblack@fiteproperties.com • (916) 366-5695 Sacramento, CA 95827 Fax (916) 361-9043 JP GALLAGHER CONSTRUCTION, INC. - Jack Gallagher (916) 722-0623 6380 Tupelo Dr., # 8 jack@jpgallagherconst.com • Mobile (916) 846-0623 Citrus Heights, CA 95621 www.jpgallagherconst.com • Fax (916) 722-0624 HALDEMAN CONSTRUCTION - Jason Haldeman P.O. Box 4244 www.hcbuilders.com • (530) 885.8085 Auburn, CA, 95604 jason@hcbuilders.com • Fax (530) 885.8985 MARK SCOTT CONSTRUCTION, INC. Residential & Commercial msconstruction.com • Pl. Hill: (925) 944-0502 24 Hour Em Service Fairfield: (707) 804-8880 • Stockton: (209) 982-0502 PROBILT CONSTRUCTION - Roger Kolb 3770 West Pacific Ave. rogerkolb57@gmail.com • (916) 455-1782 Sacramento, CA 95820 Fax (916) 455-1783 WINGARD CONSTRUCTION - Bror Wingard 24 Hr. Em (925) 383-5618 One-Call Contractor for all your Lodi office: (209) 368-2464 reconstruction needs email@wingardconstruction.com • Concord: (925) 689-9322

CONTRACTORS - MICROBIAL REMEDIATION

ALLIANCE ENVIRONMENTAL GROUP - Ed Work 4950 Fulton Drive, Suite E www.alliance-enviro.com • (707) 419-7638 Fairfield, CA 94534 info@alliance-enviro.com AMERICAN TECHNOLOGIES, INC. - Barry Metcalf 2965 Ramco Street.

Barry.Metcalf@atirestoration.com • (916) 388-2440 West Sacramento, Ca 95691 Fax (916) 388-2445 BELFOR USA - Grant Cody 3132 Dwight Rd Ste 300 (916) 399-1865 • Fax (916) 399-9388 Elk Grove, CA 95758 grant.cody@us.belfor.com P.W. STEPHENS ENVIRONMENTAL, INC. 1588 Santa Ana Ave. www.pwstephensinc.com • (916) 565-1700 Sacramento, CA 95838 www.pwsei.com

ENGINEERS - FORENSIC

BARRISH PELHAM ASSOCIATES, INC. Sacramento: (916) 418-9100 Consulting Engineers Truckee: (530) 562-4266 www.Barrish.com Pleasant Hill: (925) 273-7663 COMPLERE ENGINEERING GROUP, INC. - Gene Wilkins, P.E. Fire C&O, Property Liability, Thermography, Structural 4230 Kiernan Av., Suite 210 wilkins@complere.com • (209) 545-8165 Modesto, CA 95356 www.complere.com • Fax (209) 545-8170 I-ENG-A® OF CENTRAL CALIFORNIA A Division of Pauli Engineering, Inc www.pauliengineering.com • (559) 237-4408 Cause & Origin Investigations, Plans for building reconstruction.

UNIFIED INVESTIGATIONS & SCIENCES - Michael OConnor, P.E. Civil, Structural, Electrical, (916) 640-0640 Mechanical, Fire O&C, Repair Plans www.uis-usa.com

ENVIRONMENTAL TESTING & CONSULTING

ENVIRONMENTAL SCIENCES SERVICES - Shane Jones PO Box 452 (916) 417-5361 Lockeford, CA 95237 envss1ca@gmail.com RegasGroup ENVIRONMENTAL CONSULTANTS - Dominick Sager 705 E. Bidwell St Ste 2-244 service@regasgroup.com • 916-235-3110 Folsom, CA 95630 www.RegasGroup.com

FIRE INVESTIGATORS

FIRE CAUSE ANALYSIS - Ulises Castellon, CPCU Serving Clients (800) 726-5939 • Fax: (510) 649-3099 Nationwide! inquiry@fcafire.com

FLOOR COVERING

MASTERS WHOLESALE - Jeff Lovelace 2504 Mercantile Dr. jlovelace@masterswholesale.com • (916) 997-6728 Rancho Cordova, CA 95742 www.MastersWholesale.com • Fax (916) 669-3894

LEAK DETECTION/PLUMBING

AMERICAN LEAK DETECTION - Monte Routon P.O. Box 525 aldsacto@yahoo.com • (916) 331-6443 Fair Oaks, CA 95628 www.AmericanLeakDetect.com BULL’S EYE LEAK DETECTION - Daniel Spatz P. O. Box 73114 www.BullsEyeLeak.com • (916) 760-8944 Davis, CA 95614 office@bullseyeleak.com • Fax (916) 760-8970 MASTERS WHOLESALE - Mike LaVerdure 2504 Mercantile Dr. mlaverdure@masterswholesale.com • (916) 997-0423 Rancho Cordova, CA 95742 www.MastersWholesale.com • Fax (916) 669-3891

OVERSPRAY REMOVAL

NATIONWIDE OVERSPRAY REMOVAL - Eric Gerencser Benicia, California

www.overspray.net • (925) 408-5909 Safe Overspray Removal eric@overspray.net • (800) 345-1269

PROPERTY RESTORATION-CLOTHING SPECIALISTS

Bright Leaf Cleaners - Liza Wisecarver Servicing all BrightleafCleaners.com • cell (925) 406-9889 of Northern CA liza@blcleaners.com • office (925) 455-6000 continued next page

Sacramento Claims Association News Network • Sept/early Oct 2018

10

SCA/ANN Services Directory continued from previous page

PROPERTY RESTORATION-CLOTHING SPECIALISTS

- continued

CRDN CAPITAL CORRIDOR - Jackie Irrgang & John Philip 1462 Tanforan, Ste F (916) 978-5959 Woodland, CA 95776

CRDN@signclean.net FRSTeam - Mike Jones 910 Striker Ave. Ste E (916) 997-8119 Sacramento, CA 95364 mjones@frsteam.com

PROPERTY RESTORATION/CONTENTS

AMERICAN TECHNOLOGIES, INC. - Barry Metcalf 2965 Ramco Street.

Barry.Metcalf@atirestoration.com • (916) 388-2440 West Sacramento, Ca 95691 Fax (916) 388-2445 BELFOR USA - Grant Cody 3132 Dwight Rd Ste 300 (916) 399-1865 • Fax (916) 399-9388 Elk Grove, CA 95758 grant.cody@us.belfor.com SERVICEMASTER CLEANING & RESTORATION SERVICES - James Johnson Serving Sacramento (916) 983-8084 Placer & El Dorado Counties servicemastercrs@yahoo.com SERVICEMASTER OF NAPA COUNTY, VALLEJO & BENICIA - Eric Larson/Lynn Fuller Serving Napa County, Vallejo smnvb@interx.net • (800) 648-1608 and Benicia Fax (707) 257-1608 SERVICEMASTER RESTORATION SERVICES - Robert Scott Serving Sacramento rscott@sharjo.com • (800) 480-TIDY Contra Costa & Sonoma Counties www.svmcleaning-restoration.com

WINDOW COVERING

MASTERS WHOLESALE - Jeff Lovelace 2504 Mercantile Dr. jlovelace@masterswholesale.com • (916) 997-6728 Rancho Cordova, CA 95742 www.MastersWholesale.com • Fax (916) 669-3894

Thank You to ALL our Subscribing Advertising Sponsors!

Deadline for submissions for the September issue is Friday, October 19 The Sacramento Claims Association News Network© is a production of Association News Network, Inc. Published monthly as a free service to the SCA with a commitment and dedication to the promotion and betterment of this professional organization. The views and comments expressed within the articles herein do not necessarily reflect the views of A.N.N., Inc. or SCA. We assume no responsibility for any opinions and/or statements offered by contributing authors to the publication. Acceptance of advertising material does not constitute endorsement of the products or services offered. We reserve the right to reject any advertising copy or placement. We encourage industry support of this professional organization - its monthly newsletter publication and web site.

Go to: www.SacramentoClaims.org Please submit articles for consideration by email, to: Bryan Harrison, Publisher Bryan@AssociationNewsNetwork.com • 209.229.8240

© 1994-2018, all rights reserved • Association News Network, Inc. www.AssociationNewsNetwork.com • 2455 Naglee Rd. #263 . Tracy, CA 95304

continued from page 8

nation, Commissioner Jones has led a multistate effort since 2011 to require insurers to respond to the Climate Risk Disclosure Survey adopted by the National Association of Insurance Commissioners (NAIC) in 2009.

In early 2016, Jones launched his Climate Risk Carbon Initiative because of the potential for investments in coal, oil, gas and utilities relying substantially on burning carbon, to become “stranded assets” on the books of insurers with little or no value as governments, private companies and markets, in an effort to address climate change and in response to market forces, may slowly or dramatically reduce the demand for carbon-based fuels causing the value of these assets to drop.

In May, Commissioner Jones became the first financial regulator in the U.S. to conduct a climate-related financial risk stress test and analysis of insurance companies’ investment portfolios.

The Department engaged 2° Investing Initiative, an established partner of European financial regulators, to conduct this analysis for insurers in California’s insurance market with over $100 million in annual premiums. It is arguably the most comprehensive climate-related financial stress test analysis ever conducted for the insurance sector. The results of the scenario analysis are consistent with Commissioner Jones’ Climate Risk Carbon Initiative determination that thermal coal as an investment faces climate-related financial risks, despite any short-term fluctuations in market price and policy signals. in an effort to address climate change, may slowly or dramatically reduce the demand for carbon-based fuels and their value drops. Jones is the first financial regulator to ask that a financial sector-in this case insurance companies-divest from thermal coal and to require that they publicly disclose their holdings in oil, gas, coal and utilities, due to potential climate-related risks.

In May, Commissioner Jones became the first U.S. financial regulator to conduct a climate-related financial risk stress test and analysis of insurance companies’ investments in fossil-fuels.

The department engaged 2° Investing Initiative, an established partner of European financial regulators, to conduct this analysis for insurers in California’s insurance market with over $100 million in annual premiums. It is arguably the most comprehensive financial stress test analysis ever conducted for the insurance sector. The results of the scenario analysis are consistent with Commissioner Jones’ Climate Risk Carbon Initiative determination that thermal coal as an investment faces climate-related financial risks, despite any short-term fluctuations in market price and policy signals.

In June 2017, 12 state attorneys general and one governor threatened to sue Commissioner Jones for calling on insurance companies to evaluate and address potential climate-related risks to their investment portfolio, to ensure they are investing in assets that retain value and are subsequently available to pay future claims. Despite these threats, Commissioner Jones is continuing the Climate Risk Carbon Initiative, the most recent component of which is the climate-related financial risk stress testing of insurers’ investment portfolios, to make sure insurers are addressing climate change related risks and to protect California consumers. In April 2018, a group of financial supervisors and central banks including the central banks of England, France, Germany, the Netherlands, Sweden, Singapore, China and Mexico announced their cooperation to conduct similar climate stress testing on insurance companies and other regulated financial institutions.

It’s a little bit like raising chicldrenThe passing

Sacramento Claims Association News Network • Sept/early Oct 2018

CCNC Silver Anniversary continued from page 6

increased level of continuing education accreditation.

The awe-inspiring Squaw Valley resort provided a magnificent backdrop for the event, with bright blue skies, mountain fresh air (no intrusion of smoke), and the majestic Sierra Nevada mountains. Despite some shortcomings in facility layout and functionality, Squaw Valley served as a beautiful CCNC setting.

Shortcomings, specifically, were mainly that the exhibit hall space was a bit disjointed and cumbersome to navigate. Classroom settings felt a bit make-shift, as well.

That, and some level of sun-shade on the main lunch and meeting space outdoors would have provided for a more comfortable setting.

Folks managed, however and, fortunately, the weather was magnificent, and sunscreen lotion was provided for those not prepared for sitting out in the sun for extended periods.

In the end, being in the great out-

doors at 6,000-plus foot elevation, with beautiful sunshine and a cool breeze, made for a pretty spectacular conference setting.

A major highlight of the conference was the Wednesday evening party at mountaintop, another 2,000 feet up by way of tram. Fun and games, music and dancing made for a great time for all in attendance.

Keynote sessions each day featured: Mr. Shawn Fair, CEO of Fair Consulting Group; and Mr. Cory Candelario, Executive Vice President for the Claims operation at Pacific Specialty Insurance Company and the McGraw Group of Affiliated Companies. Their presentations were inspiring and informative.

Class sessions were numerous, including a wide range of Property and Casualty/Liability-related topics of interest.

All-in-all, the 2018 CCNC was a quality event worthy of the 25th anniversary celebration billing.

11

Not too late to Join/Renew Your SCA Membership Now The Sacramento Claims Association Membership Committee would like to encourage you to join and/or renew your annual membership to the association. Member dues provide a significant financial support to the organization, and a strong membership helps to keep a non-profit like SCA viable and alive. Without all of us together there would be no SCA. “This organization could not maintain the strong standing we enjoy today without the support of all our members,” stated SCA President Steve Moore.

The organization has worked diligently to continue to provide programs and events of interest and value to claims adjusters and the surrounding claims service community.

“The Sacramento Claims Association is always committed to maintaining a high degree of professional courtesy within our ranks.”

In addition to the organization actively taking measures to continue to raise its standing within the community at large, the association has been building on its sphere of local charitable causes to support.

The SCA Board has opted to continue to offer annual FREE Memberships to insurance carrier adjusters (with an optional suggested $10 donation going to the charitable fund). Completion and submission of a simple membership application now allows all such claims people the benefits of membership.

Sign up or renew now at www.SacramentoClaims.org.

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Sacramento Claims Association News Network • Sept/early Oct 2018

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