Insurance Manager

Augustine T. Toomey III, ARM

* ****** *****

Aberdeen, NJ 07747

H 732-***-**** C 732-***-**** ab83fn@r.postjobfree.com

A licensed insurance & risk professional with over 25 years experience as a

broker and a corporate risk manager. Has experience in managing the risks

of water and wastewater operations, manufacturing operations, and

Healthcare imaging & technology operations.

Feb 1999 - Present AGFA Healthcare, AGFA Corporation, AGFA Material, &

AGFA Finance Elmwood Park, NJ

AGFA Corporation, along with our Belgian parent, Agfa Gevaert, NV, a

division of Bayer until 2002, operates worldwide with $4 billion in

revenues and 20,000 employees. AGFA is a leading worldwide imaging &

software corporation with business units operating in Medical and Graphics

fields.

Manager, Corporate Insurance

Responsible for NAFTA operation's property & casualty insurance program,

including claims & risk management, risk transfer strategy, negotiating

pricing & terms, integration of acquisitions, financial analysis and acting

as a resource to the business groups. Functions as a # 2 on a worldwide

basis.

Annually reviews risk transfer and risk financing options such as Loss

portfolio transfers, self-insurance, captives, integrated disability

management and insurance.

Reviews contracts and agreements to identify and assess risks, evaluate

insurance standards, and review hold harmless and indemnification

provisions

Works closely with legal department, environmental departments & business

groups on acquisitions and divestiture.

Handles litigated claims, including investigations, formulating defense

strategies, and settlements.

Conducts file review meetings with TPA as needed to ensure that claims are

proactively managed to conclusion in accordance with contractual agreements

and that established reserves accurately reflect the anticipated value of

pending claims.

Select appropriate technique to minimize loss, such as avoidance, loss

prevention and reduction, retention, grouping of exposure units, and/or

transfer.

Provides support and recommendations to safety teams.

Managed a staff of three - administrative assistant, Insurance analyst, and

paralegal.

Special projects as assigned.

2007 Promoted to World Wide Risk Manager Agfa Graphics -

Feb 2007 Agfa Gevaert announced a demerger, that it would be to split into

three independent, stock listed companies - Agfa Graphics, Agfa HealthCare

and Agfa Materials.

Spent 70% of the year in Belgium. Developed relationships with top

executives in Agfa Graphics. Acquired a deep understanding of the European

insurance market, insurance companies & insurance brokers. Negotiated a

complete, "stand alone", insurance program for Agfa Graphics.

April 29 2008 Agfa Gevaert announced that a split into three separately

listed companies is no longer a realistic scenario due to a 75-percent drop

in first-quarter net profit, record high silver prices record high and

large pension liabilities.

2008 special project -2009 Benefits - Health Insurance Analysis

Requested by CFO to look into our Healthcare costs as they were set rise

$1.1 million on a budget of $20 million. Brought in a service provider

that (1) better matched our employee demographics, this enabled higher in

network use and (2) had deeper negotiated discounts with providers. Moved

our HMO population to an EPO which mimicked HMO benefits but allowed us to

capture cash flow and eliminate state mandated fees. Total saving

estimated for 2009 are $4.5 Million ($5.6 Million swing)

2004 special project - Enterprise Risk Management Analysis - 30% of time

spent in worldwide headquarter in Belgium.

Implemented a coordinated approach to assessing and responding to all risks

that affect the achievement of the corporation's strategic and financial

objectives. These included accidental losses, but also financial,

strategic, operational, and other risks. Risks were identified and

assessed giving a gross risk score and a net risk score, factoring in

internal management controls. Board of Directors and senior management now

have a definitive tool for annually analysing all risks within the company

Analysis based on COSO ERM framework and Australian Standard Risk

Management AS/NZS 1999

2002-2003 special project - Treasury, Cash management - acquired all

needed skills & expertise to function as cash manager in cash manager's

absense.

Day-to-day cash flows, Banking relationships, Borrowed or invested moneys

as required,

Daily collection and disbursement of USD and foreign currencies, Executing

wire transfers and Management of the overall North America cash position.

Acquired knowledge in third party cash management systems including Chase

Insight Treasury Workstation, Mellon Itelecash, Toronto Dominion Web

Business Banking, and CitiDirect

Dec 1996 - Feb 1999 United Water Resources (UWR), Harrington Park, NJ

United Water Resources, a subsidiary of SUEZ, is a water utility provides

water and wastewater services to 11 million people in the United States.

The company offers customized, cost-effective solutions to communities of

all sizes including public-private partnerships, contract operations,

customer service, billing and collections, long-term leases, asset

transfer, design and construction, ownership, and private financing.

Risk Management Supervisor

Managed all aspects of risk management and insurance programs for the NAFTA

region including corporate wide insurance program, Workers compensation

claims, insurance proposals, recommendations to the corporate insurance

committee, general liability litigated claims, annual insurance budgets,

broker selection.

Acquired specialized insurance knowledge needed for UWR's public private

partnerships and contract operations in the area of The Jones Act, The

Longshore and Harbor Workers' Compensation Act, and Federal Employers

Liability Act in order to protect UWR from these specialized risks.

Worked closely with marketing department on public / private partnerships &

acquisitions. Analyzed insurance sections of bids & contracts and modified

as needed, reviewed indemnification clauses with legal department. Secured

necessary surety bonds and letters of credit

Managed a staff of three - administrative assistant, claims investigator,

and paralegal.

Feb 1982 - Sept 1996 Toomey Insurance Agency, Inc, W.N.Y, NJ sold

agency 9/96

Toomey Insurance Agency was a full service property, casualty, life and

health insurance agency

Broker / Owner

Acquired an expertise in complex governmental entity insurance policies.

Responsible for (1) A comprehensive insurance program for a board of

education with 5600 students and 9 locations - premium $480,000 (2)

Commercial auto policy for a large municipal fleet - premium $440,000. (3)

Municipal health insurance program - premium $3,200,000. Acquired knowledge

in New Jersey Statute Title 59 for use in limiting claims where the

claimant had insurance coverage and denying claims the claimant did not

meet the reporting requirements of said statute.

Served as a consultant for a self-insured Workers Comp insurance program

for a municipality with 530 employees.

Evaluated third party administrator and excess insurance carriers, for self-

insured programs, and advise which to select. Monitored third party

administrator to be sure that all contracted services were provided.

Managed all aspects of the agency operation including, Accounts

receivables, Staffing, IT, budgets and forecasting.

Provided coaching, direction, training and day to day supervision to three

assistant account executives.

Coordinated the marketing of new business and the renewal of current client

business, including requesting renewal quotes from carrier, updating

coverage analysis form, delivering submission to new markets, reviewing

quotes, preparing proposals, host renewal presentations, process renewed

account with assistance of Account Manager.

Affiliations

1996 - Present Risk & Insurance Management Society

2001 - Present Vermont Captive insurance association

1982-1996 Independent Insurance Agents Association

1982-1996 Professional Insurance Agents Association

Education

Salve Regina University Attending

Master in Business Administration MBA

Thomas Edison State College BS Insurance

Insurance Institute of America ARM - Associates in Risk

Management designation

ARM 54-Risk Assessment: Risk Management Programs; The Risk Management

Process; Legal Foundations of Liability Loss Exposures; Assessing

Property, Liability, Personnel, and Net Income Loss Exposures;

Management Liability and Corporate Governance; Forecasting; Cash Flow

Analysis.

ARM 55-Risk Control: Controlling Property, Personnel, Liability, and

Net Income Loss Exposures; Intellectual Property Loss Exposures;

Criminal Loss Exposures; Disaster Recovery for Property Loss

Exposures; Understanding Claim Administration; Fleet Operations Loss

Exposures; Environmental Loss Exposures; Understanding System Safety;

Motivating and Monitoring Risk Control Activities.

ARM 56-Risk Financing: Insurance as a Risk Financing Technique;

Reinsurance and Self-Insurance; Retrospective Rating Plans and Captive

Insurance Companies; Finite and Integrated Risk Insurance Plans;

Capital Market Products; Forecasting Accidental Losses; Accounting and

Income Tax Aspects; Claim Administration; and Allocating Risk

Management Costs.

Series 6 License - a securities license entitling me to sell and give

advice on investments such as mutual funds, variable annuities, IRA's, Roth

IRA's, & 401k's. The Series 6 exam is administered by the FINRA, covering

topics such as mutual funds, variable annuities, regulations, retirement

plans, and insurance products.

Series 63 License - The Uniform Securities Agent State Law - is designed to

qualify candidates as securities agents. The examination covers the

principles of state securities regulation reflected in the Uniform

Securities Act (with the amendments adopted by NASAA and rules prohibiting

dishonest and unethical business practices). The examination is intended to

provide a basis for state securities administrators to determine an

applicant's knowledge and understanding of state law and regulations.

State of New Jersey Insurance Producer License - Property, Casualty, Life,

& health

Other

Councilman Aberdeen Township, NJ 1996 - 2000

References available upon request

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