Risk Management Real Estate

Augustine T. Toomey III, ARM

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

Aberdeen, NJ 07747

H 732-***-**** C 732-***-**** ************@*****.***

A licensed insurance & risk professional with wide-ranging experience as a broker and a corporate risk manager. Has experience in managing the risks of healthcare operations, water and wastewater operations, governmental entities, public private partnerships, manufacturing operations, food service, technology operations and commercial real estate operations.

July 2023 – April 2024 Wakefern Food Corporation, Keasbey New Jersey

Wakefern Food Corporation is an American company that was founded in 1946. It is the largest retailers' cooperative group of supermarkets and the fourth-largest cooperative of any kind in the United States.

Wakefern owns one of the northeast's largest trucking fleets, has 40,200 Employees and revenues of $19 billion.

Wakefern has fifty member companies who own and operate 365 supermarkets in New Jersey, New York, Connecticut, Pennsylvania, Maryland, Delaware, Massachusetts, New Hampshire, Rhode Island, and Virginia.

Manager Risk Management

Manages insurance & captive insurance programs and renewals

Handles day-to-day captive operations

Responsible for operation’s property & casualty insurance program, risk transfer strategy, negotiating pricing & terms, integration of acquisitions, financial analysis and acting as a resource to the business groups.

Recommends and helps implement risk management, safety, claims and insurance practices, policies and solutions across the enterprise

Collaborates with the claims and safety teams to identify day to day challenges and opportunities and look for ways to innovate and work holistically

Educates staff on insurance and risk management

Maximizes performance across insurance, claims and safety departments

Acts as coach, mentor and advisor

Evaluates team member’s performance and provides ongoing feedback

Identifies opportunities for Associate development to benefit Associate and support business objectives

Manages Risk Management Committee (RMC) agendas, planning, presentations and reporting with internal and external providers

Manages captive meeting agendas, planning, presentations and reporting with internal and external providers

Develops clear action steps in support of the Business Units’ strategic plans

Newly created function within Risk Management, reports to the Director of Risk, Safety and Claims

Feb 1999 – April 2023 AGFA Healthcare, AGFA Corporation, AGFA Material, & AGFA Finance Elmwood Park, NJ

AGFA Corporation, along with our Belgian parent, Agfa Gevaert, NV, is one of the world's leading companies in imaging and information technology. Agfa develops, manufactures and markets analogue and digital systems for the printing industry (Agfa Graphics), for the healthcare sector (Agfa Healthcare), and for specific industrial applications (Agfa Materials). Agfa is headquartered in Mortsel, Belgium. The company is present in 40 countries and has agents in another 100 countries around the globe.

Senior Manager, Corporate Insurance

Newly created Function /Job. Built out department during spin off from Bayer Corporation

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. Attend annual Vermont Captive Insurance Association Conference.

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.

Captive formation and management

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.

Special projects as assigned.

2021 Special Project - Captive Insurance Company Formation

Collaborate with Agfa’s WW Risk Manager on the formation of the captive. Determine the Likely Captive Structure. Interview and Retain a Captive Management consultant. Select a Domicile. Preparation and Submission of a Captive Application.

2021 Special Project - Employee Benefits Analysis

Assist the Human Resources Dept. in a detailed analysis of our present benefit program to see if Mercer still act in the best interest of Agfa and is in line with Agfa’s current world Wide Strategy.

2020 Special project - Captive Insurance Company Feasibility Study

Collaborate with Agfa’s WW Risk Manager to conduct a comprehensive, qualitative and quantitative assessment to see if there is any opportunities via a captive to acquire 1. Flexibility for hard-to-insure and emerging risks. 2. Potential tax benefits. 3. Increased control of our risks 4.Cash Flow and 5. Investment returns. Captive program appears viable.

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)

2007 Designated as World Wide Risk Manager Agfa Graphics –

Feb 2007 Agfa Gevaert, NV 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. Plan was to negotiate 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.

2004 special project – Enterprise Risk Management Analysis - 30% of time spent in worldwide headquarter in Belgium.

Collaborated on 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..

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.

Dec 1996 – Feb 1999 United Properties Group Inc, Montvale, NJ

A $250 million real estate subsidiary of United Water Resources. The portfolio included over 3,000 acres of land, over 500,000 sq. ft. of office properties, 3 golf courses, retail and light industrial properties

Risk Management Manager

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.

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 (FELA) in order to protect UWR from these specialized risks.

Worked closely with marketing and Legal departments on 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 / Vice President

Acquired an expertise in complex governmental entity insurance policies. 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.

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.

Education

Thomas Edison State University BS Insurance

Salve Regina University MBA 6 courses left to complete

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.

State of New Jersey Insurance Producer License

State of New Jersey Real Estate Salesman License

Aberdeen Township Councilman 1998-2001

Monmouth County Bayshore Outfall Authority Commissioner 2019-2024

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