Management Insurance
Resume:
DAVID A. FRIEND
P.O. Box **
Kittery Point, Maine 03905
***********@*****.***
PROFESSIONAL EXPERIENCE:
Vice President, Risk Management
K. Hovnanian Companies Red Bank, NJ
**** -
present
. Hovnanian Enterprises, Inc. designs, constructs, markets and sells single-
family detached homes, attached town homes and condominiums, mid-rise and
high-rise condominiums, urban infill and active adult homes in planned
residential developments in the United States.
. Oversee all (insurance related) Property, Casualty, Directors and
Officers, and Fidelity efforts for the corporation.
. Direct all due diligence matters as it relates to insurance, quality,
safety and warranty issues.
. In conjunction with the CFO, and Vice President of Audit, manage the
Enterprise Risk Management process.
. Analyze insurance coverage's and products and determine proper deductible
levels, need for self insurance as well as determine coverage language
that is suitable for the company.
. Redesign and oversight of insurance allocation process to business
divisions.
. Oversight of surety bond program; work with broker to ensure the company
has enough bond capacity.
. Create and oversee claim management process for all insurance coverage's.
. Implement Transitional duty program for work related injuries.
. Develop and manage a formal, written Risk Management Department Policy
outlining objectives, functions, responsibilities, and procedures.
. Negotiate the structure, design and pricing of insurance programs,
policies, TPA and Broker services and other risk management-related
products or contracts.
. Purchase and utilize a Risk Management Information system to ensure data
integrity and give company ability to properly analyze allocations and
review historical claim trends.
. Measure K. Hovnanian's cost of risk to identify cost drivers; use it as a
benchmark for Risk Management Department's own performance, as well as
organization's performance against industry peers, and to establish a
basis for which risk financing decisions and safety and loss control
performance can be analyzed.
. Maintain highest level of working knowledge of the insurance and
financial marketplace and product offerings through broker, underwriter,
insurer, reinsurer relationships, continuing education, professional
organizations and seminars.
. Manage a staff of four
Director, Risk Management
Honeywell International Inc. Morristown, NJ
2003-
2004
. Honeywell is a diversified technology and manufacturing leader of
aerospace products and services; control technologies for buildings,
homes and industry; automotive products; power generation systems;
specialty chemicals; fibers; plastics and advanced materials. Current
responsibilities include the following:
. Oversee and Manage Honeywell's Global Casualty program. This includes
managing all insurance carrier and broker relationships.
. Direct Honeywell's Global Claim Management program for all lines of
insurance coverage's.
. Identify and analyze exposures to non-speculative financial loss,
regardless of whether insurance is available, using various techniques,
alone or in coordination with other departments or personnel;
. Participate in risk management due diligence in regard to mergers,
acquisitions, divestment, and development, and coordinate required
changes to the affected risk financing programs.
. Evaluate available risk financing methods using quantitative techniques,
in terms of emphasis on transfer or retention, mechanism of funding,
types and amounts of loss to be financed, cash flow impact, and tax
implications: Act as Vice President of Captive (Bermuda), review monthly
financials, lead monthly internal board review, control expenses and cash
flows, maintain regulatory compliance, lead all interface with captive
manager.
. Evaluate effects of non-insurance contractual transfers for financing and
control of risk, implementing a defensive and aggressive strategy;
. Negotiate the structure, design and pricing of insurance programs,
policies, TPA and Broker services and other risk management-related
products or contracts for North America.
. Communicate risk management program structure and data (including
expected losses, auditable insurance rates) to accounting and finance
department for the proper accrual and allocation of costs; Manage
Honeywell's Risk Management Information System.
. Measure Honeywell's North American cost of risk to identify cost drivers;
use it as a benchmark for Risk Management Department's own performance,
as well as organization's performance against industry peers, and to
establish a basis for which risk financing decisions and safety and loss
control performance can be analyzed;
. Maintain highest level of working knowledge of the insurance and
financial marketplace and product offerings through broker, underwriter,
insurer, reinsurer relationships, continuing education, professional
organizations and seminars.
. Maximize technology to best communicate the Risk Management Department
objectives, claims and insurance procedures, risk identification and
control information/advice throughout the organization;
. In conjunction with the Assistant Treasurer, present to senior management
and any other committees, offices or levels of the organization, risk
management and insurance updates on the state of the marketplace, new
products or techniques, costs and loss forecasts;
Vice President, Risk Management
2001- 2003
Harborside Healthcare Inc. Boston, Ma.
. Harborside Healthcare is one of the largest owner and operators of Long
Term Care Nursing Homes in the United States. Currently there are 10,200
employees whom work in facilities in eight states along the eastern
seaboard and Midwest. Responsibilities include the following:
. Formulate and aministers insurance programs designed to protect the
company from various risks that are inherent in the business while
controlling associated costs.
. In conjunction with insurance brokers and carriers, negotiate insurance
and self-insurance programs.
. Manage relationships with brokers, insurance underwriters, consultants
and third party claim administrators.
. Develop and manage a formal, written Risk Management Department Policy
outlining objectives, functions, responsibilities, and procedures;
. Participate in due diligence matters for potential acquisitions.
. Develop and manage protocols and procedures for liability and workers
compensation claims.
. Manage all litigation associated with any claim that is in Harborside's
insured and self-insured program.
. Design and manage premium allocation method to allocate insurance cost to
facilities.
. Develop and manage annual insurance budget.
. Direct company wide Safety and Loss Prevention program.
. Develop claim management and crisis management manuals.
. Review insurance provisions in business contracts.
Director, Risk and Claim Management
Starwood Hotels and Resorts Worldwide Inc. Phoenix, AZ.
1999 - 2001
. Starwood is the largest owner and operator of hotels in the world.
Brands include Sheraton, Westin, St. Regis, W, and Four Points.
Responsibilities include:
. All lines of claims management worldwide including Property, Casualty,
Fidelity, Employment Practices, and Directors and Officers. This includes
the development and management of a comprehensive claims program to
minimize the cost of claims and risk.
. Manage and direct international insurance program
. Manage relationships with third party administrator and insurance
carriers to ensure compliance with service requirements.
. Identify and communicate to senior management problem areas and trends in
the claim management area.
. Manage a staff of four employees.
. Prepare and monitor functional budget to control costs.
. Six Sigma project sponsor for Guest Incidents and complaint program.
. Member of Six Sigma committee for Litigation Management program.
. Director of claims management committee for all settlements in excess of
$100,000.
. Direct investigation, processing and settlement of company owned and
managed hotels claims (in-house and third party);
. Liase with Starwood legal department and outside counsel as necessary, to
ensure claims are processed/settled in a timely and cost effective manner
and company's liabilities are minimized.
. Vice President of Starwood's captive insurance company.
. Participate in all annual insurance renewals.
ASSISTANT DIRECTOR OF RISK MANAGEMENT
1993 -1999
Tyco International, Ltd. Boca Raton, FL
. Tyco is a worldwide industrial manufacturer with strong leadership
positions in disposable medical and specialty products, flow control
products, electrical and electronic components and is the world's largest
manufacturer, servicer and installer of fire and security services
systems.
. Worker's Compensation and Automobile Liability . General and Products
Liability - International and Domestic
. Responsible for allocation claim expender to Divisions.
. Review outstanding liability status for due diligence process regarding
prospective acquisitions.
. Manage Tyco's Litigation Program for claims.
. Management of third party administrator by directing the investigation
and disposition of claims, worldwide.
. Implement claims management procedures for new acquisitions.
. Member of corporate safety committee and Tyco leadership program.
. Supervise risk management information system.
. Direct Workers' Compensation managed care program.
. Delivered public speaking presentations on Employment Practices, as
related to Workers' Compensation.
CLAIM MANAGER
Woolworth Corporation, New York, NY
1990 -1993
. Implemented an S.I.R. Workers' Compensation program nationwide and in
Canada for all Woolworth operations, including Kinney Shoes, Footlocker
and Champs. Responsibilities included:
. Cost containment and disability management (including marketing of
outside vendors).
. Technical audits of the insurance carrier, ensuring adherence to
claims guidelines and the proper reserving of claims.
. Monitoring compliance of safety regulations at all stores,
distribution centers and plants.
. Assessment of internal factors, i.e. salary and benefit continuation
policies and accident trends.
. Implementation of standard alternative/modified duty programs for
stores, distribution centers and manufacturing sites.
CLAIMS MANAGEMENT ANALYST - RISK MANAGEMENT
American International Group, New York, NY
1989-1990
. Supervised claims for Fortune 500 S.I.R. accounts in all 50 states,
including Pepsi Cola Corporation.
. Audited subcontractors and coordinators, ensuring compliance.
WORKERS' COMPENSATION CLAIMS ADJUSTER
Underwriters Adjusting/Continental Insurance, Boston, MA
1987 - 198
. Adjusted insurance claims in Massachusetts, Maine, New Hampshire and
Rhode Island.
. Primary responsibility for major national accounts.
. WORKERS' COMPENSATION CLAIMS REPRESENTATIVE
. Murphy & Beane (Law Firm), Boston, MA
1987-
1987
. Primary responsibility for handling insurance claims for major companies
with self-insured policies.
EDUCATION.
. ARM Designation
1993
. B.A. Political Sciende, University of Kansas, Lawrence, KS
1986
. Harvard University, Cambridge, MA. (Summer Semester)
1985
. Suffield Academy Preparatory School, Suffield, CT
1982
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