The Guardian Life Insurance Company of America (Guardian) introduced its stop loss insurance product for employers that self-fund their own health plans. Guardian's Stop Loss insurance helps mitigate employers' financial risk when self-funding a medical plan by providing protection against catastrophic or unpredictable claims. The product is currently approved in 23 states with nationwide approval expected by mid-2014.
In other industry news:
New York Life appointed David J. Castellani as the company's business information officer. Castellani also has been elected a senior vice president of the company.
In this new position, Castellani is responsible for translating New York Life's business goals into clear enterprise technology solutions, for driving process improvements across company operations, and for establishing consistent governance over all information technology initiatives. He reports to Executive Vice President and Chief Administrative Officer Frank M. Boccio.
Succeeding Castellani at Retirement Plan Services (RPS) is Patrick M. Murphy, a veteran of more than two decades in the retirement plan industry who has served as managing director and head of sales for RPS since 2011. Murphy joined RPS in 2004 as director, Northeast sales manager, responsible for the sales team in New England and New York.
Castellani was previously head of the New York Life Retirement Plan Services business in Westwood, MA, a leader in providing full-service defined benefit (DB), defined contribution (DC), integrated DB/DC, and Taft-Hartley services with a focus on service excellence. He joined New York Life in 2011 from EWM, LLC, a wealth management firm based in Zurich, Switzerland and New Canaan, CT, where he was a managing director and chief marketing officer. Before that he served a combined 25 years with Prudential Retirement and CIGNA Corporation. He was also personally involved in two technology firm start-ups.
Castellani received a Bachelor of Arts degree from the College of the Holy Cross, and completed the Entrepreneurial Leadership Program at the Harvard Business School.
Petersen International Underwriters launched its Accelerated Benefits to Age 65 Plan that provides coverage for individual personal income with benefits to age 65.
According to Michael Petersen, President of Petersen International Underwriters, "we know that this new product will keep our agents and brokers ahead of their competition in bringing their clients the most reliable and comprehensive excess disability benefits available."
Burnham Benefits Insurance Services hired Maria Talamantez as its newest account executive in the Los Angeles area to help develop new business within the Hispanic market.
Talamantez's industry experience will allow her to partner with and guide clients as they implement strategic employee benefits programs. Fluent in Spanish, Talamantez will also focus on expanding Burnham's reach into Hispanic-owned local businesses, and companies that employ Spanish-speakers.
