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EMPLOYERS® (NYSE: EIG),
America's small business insurance specialist®, today announced that Stephen V. Festa, senior vice president and chief claims officer, has been named chairman of the Board of Governors of the California Insurance Guarantee Association (CIGA), a body that pays the claims of insolvent property and casualty insurance carriers.
Prior to being elected chairman, Festa most recently served as the CIGA board’s vice chair. Festa first joined the CIGA board in 2009, representing EMPLOYERS as an Insurer Member, and remains the only C-level claims executive to serve on the board. Operating under the California Insurance Code, CIGA provides a mechanism for the payment of covered property, casualty, and workers' compensation insurance claims of insolvent insurance companies (as defined by the Insurance Code and specific case law).