CFO Names Gallagher to Board of Florida Insurance Guaranty Association

Tom Gallagher, an éminence grise or elder statesman of the Florida property insurance world and current chief operating officer for People’s Trust Insurance Co., now has another job to put on his resumé: board member for the Florida Insurance Guaranty Association.

Florida’s chief financial officer, Jimmy Patronis, announced last week that he had appointed Gallagher to the FIGA Board of Directors, filling a vacancy left after a previous board member’s term had expired. The board now has seven members, and can have as many as nine.

FIGA, which handles claims left behind by insolvent insurers and must occasionally issue bonds and raise assessments on insurers to pay for those claims, has seen its oversight go through some significant changes in the last two months.

The executive director for the past two years, Corey Neal, stepped down in May to become executive vice president at SageSure. Four FIGA board members also left after their terms were completed, and four new members have now been appointed.

In a career that spans five decades, Gallagher, 80, has served as state treasurer, chief financial officer, insurance commissioner (1989 to 1995 and again from 2001 to 2003), and as a state legislator. He also was state education commissioner.

Gallagher helped start an insurance agency in 2008 and has been a consultant for Colodny Fass, a law firm that specializes in insurance litigation and regulation matters. He joined People’s Trust, based in Deerfield Beach in 2017, the company noted.

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Florida
A.J. Gallagher