News & Updates

Cedar Hamilton Limited Granted a Class 3 License

December 16, 2020

We are pleased to announce that Cedar Hamilton Limited (“Cedar Hamilton”) has been granted a Class 3 license by the Bermuda Monetary Authority, a significant step towards our objective of writing business through the company by April 1, 2021. Cedar Hamilton is presently in process of applying to the National Association of Insurance Commissioners (NAIC) to be placed on the Quarterly Listing of Alien Insurers, which will allow Cedar Hamilton to provide coverage on a Surplus and Excess Lines basis in all 50 U.S. States.

A component to this effort is the reorganization of NEIL’s Underwriting Department to support the business being written by NEIL and Cedar Hamilton. Moving forward the Underwriters supporting NEIL’s Member Nuclear business will be known as the “Nuclear Underwriting Team” and the Underwriters supporting Cedar Hamilton will be known as the “Specialties Underwriting Team”.

The Nuclear Team, led by Scott Lauchlan and includes Jon Levis, Matt Beck, and Steve Nusspickel, will support NEIL’s core nuclear accounts, NEIL Overseas nuclear accounts, and assumed or ceded reinsurance that is nuclear in nature. The Specialties Team, led by John Oehler and includes Jeff Butler, Gary Gresham, Robert Posey, and Alex Buganski, will support all NEIL and NEIL Overseas Member conventional accounts (property, cyber, and excess liability), and assumed or ceded reinsurance that is conventional in nature.

Scott, John and their teams will continue to report to Robert Curtis, NEIL’s Chief Underwriting Officer, who maintains responsibility for leading all underwriting and reinsurance for NEIL and Cedar Hamilton.

If you have any questions, please feel free to contact Robert Curtis (rcurtis@myneil.com or 302-573-2263), Scott Lauchlan (slauchlan@myneil.com or 302-573-2240) or John Oehler (joehler@myneil.com or 302-573-2264).

NEIL Board Declares 2020 Policyholder Distribution

December 12, 2020

At its December 11, 2020 Meeting, NEIL’s Board of Directors approved a Policyholder Distribution of $400 million, with $340 million being allocated based on each Member’s Policyholder Insurance Record and $60 million being allocated based on the Members’ Earned Premium Ratio. Policyholder Distributions are a primary element of NEIL’s Financial Vision to maintain sufficient financial strength while sharing financial returns with the Membership. The level of the current distribution reflects NEIL’s commitment to delivering targeted financial returns to the Membership and is supported by positive investment returns and underwriting performance in 2020, evidenced by a combined ratio of 64.3%. This Distribution culminates in a three-year return on Surplus of 6.9%.

Given a forecasted year-end Policyholders’ Surplus of $4.3 billion (post-Distribution), NEIL’s Leadership supported the declaration of the Distribution and remains committed to NEIL’s goal of financial return sustainability while meeting surplus targets over a three-year planning horizon. As in previous years, the Board’s approval is subject to there being no material adverse events prior to year-end.

Policyholder Distributions will be paid directly to Members by March 26, 2021.

As a reminder, NEIL will be hosting two Member Update & Financial Outlook WebEx sessions on Tuesday, December 15, 2020. The first WebEx session will begin at 9:00 a.m. (EST) and the second at 12:00 Noon (EST). Both are expected to last roughly 30 minutes. The WebEx agenda includes an update on the 2020 Distribution and other meaningful matters, so attendance is encouraged. The WebEx sessions are optional and open to any NEIL Member stakeholders who may be interested in attending. An Outlook calendar appointment will be sent to all recipients on this announcement that will contain the access information. Anyone receiving an invitation is welcome to forward it to any other Member Company stakeholder. Materials to support the WebEx will be sent out in advance of the sessions. Time has been allotted for questions, however those wishing to submit questions in advance may do so to the attention of Scott Lauchlan, Director – Underwriting (Core Business), at slauchlan@myneil.com or 484-356-6083.

If you have any questions or concerns, please don’t hesitate to contact any member of your Service Delivery Team or Scott Lauchlan. If you have an questions regarding the WebEx, you may also contact Layla Smith at lsmith@myneil.com or 302-573-2276.

NEIL Service's Loss Control Department Renamed to NEIL Services Loss Prevention

September 7, 2020

Effective September 7, 2020 the Department has been renamed NEIL Services Loss Prevention and the Loss Control Representatives are now titled Loss Prevention Engineers (LPE). In addition to renaming the organization, we have reorganized the NEIL Services Loss Prevention staff to support our growing conventional business and better align with the Underwriting Department to streamline and improve communications. The new organization chart is attached for your review. As part of this reorganization there were two promotions and one new position was created.

Shannon McArdle has been promoted to Director – Nuclear Programs and Analysis; Bill Rousseau has been promoted to Manager – Nuclear Programs; and Andy Brady has transitioned to Manager – Conventional Programs. Shannon will be responsible for overseeing the nuclear programs, Loss Control Manual maintenance, interfacing with the EAC Risk & Analysis Subcommittee, and analyzing identified nuclear risks. Bill will be responsible for the day to day activities associated with nuclear programs and nuclear facility evaluations, including the qualifications of LPE’s and their continued proficiency, and interfacing with the EAC Standards & Processes Subcommittee. Andy will be responsible to support the development of a Conventional Loss Prevention Program; and the day to day activities associated with the evaluations of conventional facilities and programs.

Please join us in recognizing the efforts of the team in moving to a culture that believes “All Losses are Preventable” and in congratulating Shannon and Bill on their promotions and Andy on his new assignment.

New Chief Underwriting Officer Named

June 30, 2020

We are pleased to announce that Robert Curtis has been selected to lead NEIL’s underwriting organization as its new Vice President & Chief Underwriting Officer. Robert will be joining NEIL on July 20 as a member of the NEIL Leadership Team.

Robert has extensive experience directing underwriting operations in the property and casualty insurance industry both domestically and internationally. In addition, he has significant experience with both facultative and ceded reinsurance programs, new product development and implementation, and specialty lines. He has worked for insurance carriers, brokers and reinsurers. A meaningful portion of his experience has been spent in the energy space, and he is familiar with many of NEIL’s Members. His underwriting experience began in 1999 and he has held positions of increasing responsibility for such companies as AIG, Zurich, USI Kibble & Prentice and Church Insurance Company. Robert is joining us from SCOR Reinsurance where served as Senior Vice President – leading the Americas territory for Alternative Solutions.

Robert obtained his undergraduate degree from Pacific Lutheran University where he earned a Bachelor of Arts degree in Economics, then a year later, earned his MBA from Thunderbird – School of Global Management. Robert also holds CPCU (Chartered Property Casualty Underwriter) and ARM (Associate in Risk Management) designations.

John Oehler, Scott Lauchlan and Layla Smith will report directly to Robert. Robert currently resides in the Seattle, Washington area with his family. Robert’s breadth of experience will serve to enhance the efforts we currently have underway across all lines of business we offer to our Members. We are excited to have Robert join the NEIL Team and I know he is excited as well and looking forward to meeting his colleagues at NEIL, the NEIL Membership and our broker and industry partners.

 

COVID-19 Update for Fall NEIL Meetings

August 4, 2020

After careful consideration of the ongoing challenges associated with the coronavirus outbreak and our priority to ensure the safety of our Members, Staff, industry partners, and guests, we regretfully make the following announcements:

Fall IAC Meetings

The Fall IAC and IAC Executive Committee meetings scheduled for September 30 – October 1, 2020 in Charleston, SC are canceled as in-person meetings.  Instead, the meetings will be held via separate WebEx sessions over the course of the same days.  Additional details for the separate WebEx sessions, including dates and times, attendance instructions and meeting materials, will be sent to the respective participants in the near future.

2020 Risk & Insurance Workshop

The 2020 Risk & Insurance Workshop that was to be held on November 17-18 in Philadelphia is also canceled.  We will not be holding any virtual sessions as an alternative.  Rather, we are looking to host the next Risk & Insurance Workshop in 2021, on November 16-17 in Philadelphia, PA.  This was a difficult decision and understand that this may come as disappointing news, but under the current circumstances it is in everyone’s best interests.  Information regarding the 2021 Workshop will be sent out in the near future.

In addition, please note that after 2021, the Risk & Insurance Workshop will move from being an annual meeting to a biennial meeting.  More information about this change will be discussed at the upcoming IAC meetings. 

If you have any questions, please contact a member of your Service Delivery Team or your primary point of contact at NEIL.

Cancellation of August EAC and IAC Subcommittee In-Person Meetings 

June 11, 2020

It is with much regret that we announce the cancellation of NEIL’s August 4 – 6, 2020 EAC Summer Meetings and IAC Subcommittee Meetings as in-person meetings.  Instead the meetings scheduled for the EAC, the EAC Executive Committee and the EAC and IAC Subcommittees will be held via separate WebEx sessions over the course of the same days.

Additional details for the various WebEx sessions, including dates and times, attendance instructions and meeting materials, will be sent to the respective participants by the Loss Control and Underwriting Department liaisons shortly.

If you have any questions, please contact a member of your Service Delivery Team or your primary point of contact at NEIL.

NEIL Offices Status Update 

June 4, 2020

When NEIL began working remotely in mid-March, I do not think anyone could have foreseen the events that have unfolded and the magnitude of the impact we would experience in dealing with COVID-19.  Nearly everything we do is somewhat different than before, and likely will forever be changed to some degree. 

In early May, we announced that NEIL’s offices would remain closed, and staff would continue working remotely, until a reopening could be completed in an environment that was optimal from a safety perspective, but also allowed staff to perform in a manner that would be more effective and productive than what we have experienced in our remote work status.  I am proud of the level of productivity that continues to be achieved by NEIL staff, with strong Member engagement and support.  Over the last month we have seen continued high performance from Staff and the Members.  While the State of Delaware is beginning to slowly reopen socially and economically, we have made a decision that NEIL’s offices will remain closed, and we will maintain our remote working status, at least through September 7, 2020 (Labor Day Weekend in the United States).  NEIL Overseas staff also continues to work remotely and will maintain that status in accordance with the Irish and Dublin authorities.

Over the course of the next couple of months we will continue to monitor and evaluate the impact of the Coronavirus and its impact to NEIL’s operations and provide additional updates as warranted.

Until then, I have the utmost confidence in NEIL staff to continue working hard, supporting one another to maintain continuity of service to our Members, and taking the necessary precautions to remain safe and healthy so that when we are able to return to the office, we are well positioned to do so.

I also extend my sincere gratitude and appreciation to our Members and other industry partners for their continued support in interacting with NEIL in a remote fashion. 

If you have any questions regarding the status of NEIL’s operations, please contact a member of your Service Delivery Team or your primary point of contact at NEIL.

We hope everyone remains safe and healthy!

Bruce A. Sassi
President and CEO

NEIL Boiler & Machinery Workshop Update 

May 12, 2020

It is with great regret that we announce the cancellation of the NEIL Boiler & Machinery Workshop that was to be held June 30 – July 1, 2020. Given that our first priority is the safety of our Members and stakeholders; and with the present effects of the COVID-19 pandemic on site operations, the uncertainty regarding potential travel restrictions that will exist in late June and social distancing requirements; NEIL has decided this would be in everyone’s best interest. We understand that this may come as disappointing news; however, we believe this is the best course of action for all participants.

NEIL Offices Status Update 

May 1, 2020

When NEIL began its remote work status 45 days ago, I doubt many of us anticipated that we would be where we are today.  While the current social distancing and safety measures are all very different and more burdensome than our past experiences, it is a small price to pay in our collective efforts to assure the health and safety of everyone in our communities.  Nearly everything we do is somewhat different than before, and likely will forever be changed to some degree. 

As previously announced, our target date for reopening the NEIL Wilmington office has been May 18.  We chose this date to be consistent with the Delaware Governor’s State of Emergency Order.  However, when we assess our operations, the reality is NEIL Staff continues to perform very effectively in this remote status, with productivity, Member engagement and support remaining strong.

It is with this in mind and after careful consideration, NEIL’s offices will remain closed and Staff will continue to work remotely until such time we feel that a reopening can be done in an environment that that is optimal and allows NEIL staff to perform their jobs with greater effectiveness and productivity than what is currently achievable in a remote status.  We will make that announcement as soon as we are able to do so, with appropriate advance notice of our planned reopening date.

Until then, we will continue working hard, supporting one another in our efforts to maintain continuity in service to our Members, and take all the necessary precautions to remain safe and healthy so that when we are able to return to the office, we are well positioned to do so.

I would also be remiss not to extend my sincere gratitude and recognize our Members and other industry partners for their continued perseverance in interacting with NEIL in a remote fashion in support of the Mutual.

If you have any questions regarding this or any other matter, please contact a member of your Service Delivery Team or your primary point of contact at NEIL.

We hope everyone remains safe and healthy!

 

2020 Energy School Postponed

April 22, 2020

The 2020 Energy School that was scheduled for October 26-29 has been postponed to Spring 2021.

 

More information on the new dates will be communicated soon.

 

 

 

Update on NEIL Operations from Covid-19

April 13, 2020

Consistent with the emergency order timeline issued by Delaware Governor John Carney, requiring Delaware businesses to work remotely, NEIL’s office will remain closed and Staff will continue working remotely through Friday, May 15, 2020.

While the intent is to reopen our office on Monday, May 18, 2020, we anticipate implementing a staggered return to work protocol, meaning not all staff will be asked to return to the office at once. We will take into consideration individual circumstances, such as parents whose children are home because schools are closed, individuals who are at greater risk from Covid-19 and may not feel comfortable returning to the office, and those who are caregivers for others in their home who may be at greater risk from Covid-19. We will also issue specific guidance to ensure appropriate social distancing of Staff while at work and that anyone coming into the office is healthy and symptom free.

I am pleased with how effectively the organization is doing in working from home and proud of all of NEIL’s employees as we navigate these unprecedented times. We will continue to monitor developments and provide updates regarding NEIL’s operations as warranted, but if you have any questions regarding any matter, please contact a member of your Service Delivery Team or your primary point of contact at NEIL.

We hope everyone remains safe and healthy!

NEIL 2020 Annual Policyholder Meeting Canceled

April 7, 2020

NEIL regrets to announce the cancellation of NEIL’s June 10-12, 2020 Annual Policyholder Meeting. This was a difficult decision but after careful consideration of the ongoing challenges associated with the coronavirus outbreak and our priority to ensure the safety of our Members, Staff, industry partners, and guests, it is in everyone’s best interest.

We will be issuing guidance to the Members regarding the Annual General Meeting and separately communicating to the individuals scheduled to attend the Advisory Committee and Non-Core Working Group meetings to provide details regarding the status of those meetings.

We have also scheduled post-June Board Meeting Update WebEx sessions for Wednesday, June 17, 2020. Notice has been sent to Member stakeholders and materials to support the sessions will be sent in advance of them.

Our 2021 Annual Policyholder Meeting is scheduled for June 9-11, 2021 at the Wynn Las Vegas, following EEI’s annual conference. Additional details will be provided in the coming months.

 

 

NEIL Operations Update Regarding Coronavirus

March 24, 2020

Effective March 24, Delaware Governor John Carney has ordered that all non-essential businesses in Delaware be closed or work remotely through May 15.  While Insurance carriers such as NEIL are designated as essential businesses to which the Order does not apply, we have made the decision to extend the closure of NEIL’s office, and to continue having Staff work remotely, until Monday, April 27, 2020.  We are pleased with how Staff have adapted to a remote work status, maintaining continuity in critical operations and sustaining engagement and service to the Membership as we all work through this challenging period.

As you are aware, the disruption and volatility we are experiencing in the financial markets is of an unprecedented nature.  We have been actively engaged with the NEIL Board of Directors, and the Board Finance and Risk Committee, and have taken steps to mitigate further downside exposure in the markets, ensuring our ability to maintain surplus at a level consistent with our stated mission.  Rest assured that NEIL remains financially strong and well positioned to continue to serve its Members.

Core nuclear renewals are proceeding as planned, the Policyholder distribution of $700 million will be paid on Friday, March 27, and we continue to receive and support insurance renewals in our Member Conventional, non-core programs. 

Loss Control continues to monitor plant activities through interface with our Plant Contacts.  On-site Plant Evaluations will only be performed in the event of an emerging risk that cannot be dealt with remotely.  In the interim, in-office plant evaluations will be performed based on data submittals by the Members.

We will continue to monitor developments and keep you informed, but please reach out to a member of your Service Delivery Team, or your primary point of contact at NEIL, with any feedback, questions or concerns. 

On behalf of the entire NEIL Team we hope everyone remains safe and healthy!