Calif. State Fund Names Frank New President

August 15, 2007

The California State Compensation Insurance Fund has selected Janet Frank to be its new president.

Frank, currently executive vice president of North American Field Operations for CNA Financial, is scheduled to begin working at SCIF in October. SCIF noted it expects Frank to help integrate and improve operations at the organization following the setbacks in late March and early April over unethical practices in its group programs, which led to the firings of former president James Tudor and Renee Koren, vice president in charge of group programs. Lawrence Mulryan was appointed interim president at that time. And Julie Jenkinson, SCIF spokeswoman, said a search for a permanent president was begun then as well.

“Janet brings an impressive track record of results in the industry and has been recognized for her strategic planning and process improvement capabilities,” said Jeanne Cain, State Fund Board chair. “We expect her strong leadership capabilities to help us set the gold standard of service for a company like ours and that her style and experience will assist us greatly in our efforts to reach out to and work cooperatively with all stakeholders in California’s workers compensation insurance market, including state legislative and regulatory authorities.”

At CNA, Frank is responsible for the company’s United States and Canada Field Operations, along with Risk Control and Distribution, which generate over $6.5 billion in written premium. Prior to joining CNA in 2001, she held executive positions with St. Paul Companies (which acquired USF&G Companies), USF&G and Fireman’s Fund. Her expanding responsibilities at St. Paul ultimately resulted in her overseeing the underwriting, financial, actuarial and marketing divisions.

“State Fund presents a unique and exciting opportunity for me,” Frank said. “It will allow me to continue to serve in a leadership role but with the added element of public service. I will be proud to lead an organization committed to the noble goal of serving as a critical safety net of coverage for California’s workers and employers.

Meanwhile, the Department of Insurance’s aduit of SCIF’s operations is continuing. SCIF had conducted an internal audit, which has been completed, Jenkinson said. But the organization declined to comment on the results pending an investigation by the California Highway Patrol, California Department of Insurance, and San Francisco District Attorney’s Office on allegations of potential misconduct by former SCIF employees.

Source: California State Compensation Insurance Fund

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