As I look out my office window in Wilton, the leaves are beginning to turn into beautiful shades of autumn. How quickly the summer flies by – rather like the Mutual’s Membership Years! It seems like only yesterday we were at the AGM in Bermuda. Since then the Signal underwriting team has been working tirelessly travelling throughout the country securing a strong renewal for the 2019/20 Membership Year which commenced on October 1. The results are in and they are tremendous. With close to a 98% retention, and pretty much right on budget, it is yet another testament to the cost-effective nature and efficiency of the program.
Speaking of travel, our new head of Safety, Rich Lubert, has been on the road for almost eight weeks visiting with Members and brokers across the country to deep dive into their issues, concerns and to get input on how we can all improve safety performance. It is a complete team effort with a simple goal: less accidents = less injuries = less cost. Safe and healthy workers are usually happy workers which means more productivity. Rich and his team are developing new and exciting plans for 2020 which will be shared at the Membership General Meeting in Naples, Florida on January 30-February 1. I ask all of you to do your part in driving out accidents and incidents at your workplace. It is truly a win -win for all of us.
Signal continues to grow with projected payrolls expected to reach over $4.7bn this Membership Year – hard to believe when Signal was created 35 years ago this number was less than $25m! SafeShore, our fixed cost Longshore program for small and mid-market employers, is also coming off its biggest year to date. This straight-forward and cost effective facility was developed and designed to support Members who had concerns about the nature and extent of sub-contractors' Longshore coverage working in their facilities. I would encourage all Members to talk to their subs about SafeShore to see if there is an opportunity for them to be part of the Signal family.
So, it is time to get out the fleeces and pullovers and start thinking about turkey and pumpkin pie – can’t wait! We all have a lot to be thankful for. I look forward to seeing all of you in Florida in January. Work safe, work hard and have a wonderful holiday season with your families and friends.
Richard W. Wood
Welcome Rich Lubert
Rich Lubert joined Signal’s executive management team in mid-July. He is Senior Vice President, Safety & Member Performance, based in Wilton, Connecticut. Rich introduced himself at the AGM in August, relating that he is excited to join Signal and be part of a tremendous organization that is striving to lead safety engagement. In the weeks since the AGM, Rich has traveled through some of the ports where Members do their work, to see where he can integrate his 30-year career in safety and change management into the safety transformation underway here at Signal. He is more excited than at the start!
Rich’s resume includes an illustrious career at General Electric in various Safety, Health & Environmental areas. He has worked in a major construction company, as well as consulted across industries in complex work settings to partner with clients to envision and implement No Harm cultural change that optimizes human and organizational performance and fosters an incident free environment.
You will see Rich on the waterfront, and at Signal Safety Meetings, General and AGM weeks, as well as the Signal Maritime Conference in May. Meanwhile, you can contact Rich as follows:
Thirty-five years ago in Bermuda, a few enterprising waterfront employers came together to forge a mutual to save on the cost of their workers' compensation. Signal Mutual was formed and the savings continue today with over 250 Members. All key performance indicators are at all-time highs and are projected to grow, with the principal focus on the safety of Members' employees.
At Signal, we pride ourselves in having a close personal working relationship and partnership with all our Members. We are committed to getting to know each and every one of you. At the heart of this commitment, are the two Membership meetings held in winter and summer each year. These business meetings are carefully designed and structured to give every Member an opportunity to fully understand the complete workings of their Mutual, to follow the finances, and to get acquainted with the entire Board of Directors, management team, and fellow Members.
Signal is the number one provider of Longshore workers’ compensation in the country for a reason – the strength and quality of the Membership. Signal is not an insurance company – it is a Club, your Club.
We look forward to seeing you at the next Membership meeting.
Richard W. Wood
President & CEO
January 30-February 1, 2020
The Ritz-Carlton Golf Resort
May 18-20, 2020
Hilton Norfolk The Main
ANNUAL GENERAL MEETING
August 6-8, 2020
Grand Hyatt Kauai Resort & Spa
Koloa, Kauai, HI
Signal Mutual Indemnity Association Ltd was established in January 1986 to meet the demands of the stevedoring industry for reasonable and stable workers' compensation insurance rates, and quickly became the premier Longshore mutual in the United States.
The Membership of the Association is drawn from a broad range of employers throughout the country in the stevedoring, shipbuilding/ship repair, marine construction, professional/technical and offshore industries with reported Longshore payrolls over $4.00 billion representing over 250 companies.
The business of the Association, including membership selection, underwriting, safety resources, claims management, actuarial, regulatory requirements and financial risk management is performed by the Association's Managers, Charles Taylor (Hamilton). The day to day responsibility for these operations has been delegated to Charles Taylor's affiliate, Signal Administration, with offices in Dallas Texas, Wilton Connecticut, and Long Beach California.