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armed forces insurance annual report 2014 ready for the next mountaintop I have never received such outstanding, informative and courteous service from an agent of another company or organization. Retired
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armed forces insurance annual report 2014 ready for the next mountaintop I have never received such outstanding, informative and courteous service from an agent of another company or organization. Retired Navy, Captain; Member Since 1964 We received wonderful support following Katrina, and now over 7 years later we are still receiving the very best care and support from AFI. Thank you. Retired Coast Guard, Commander; Member Since 1976 It was truly refreshing to do business with AFI. You get it. You get us veterans. Former Marine Corps, 1st Lieutenant; Member Since 2014 a message from our leadership Dear Member, What a remarkable year it has been. In last year s annual report, we wrote, We are thrilled to report we experienced tremendous success, across a broad array of areas. This success not only continued in 2014, but actually accelerated in numerous areas. We generated net income of $11,229,000 in 2014, which is a 29% increase over 2013 s $8,826,000. Our capital increased 14.8% and totals $70,737,000. This strong capital position allows us to continue to fulfill our mission as our military founders envisioned 128 years ago: to pay the legitimate claims of our members in their time of need. In 2014 we delivered Armed Forces Insurance Exchange s core insurance products Homeowner, Renter, Personal Items and Excess Liability to you, our members. Through our wholly owned subsidiary, Armed Forces Insurance Agency, we deliver the products of other National Insurance Companies that meet your needs. This combination allows us to give you the comprehensive protection you deserve. We are in the process of enhancing our Homeowner product to include Home Service Protection which provides insurance coverage for access to sewer, water and electrical lines on your property. It also includes protection for equipment breakdown on major items like furnaces and air conditioners. These items are typically not covered in a traditional Homeowner policy. We also continue to offer, through Armed Forces Insurance Agency, business insurance to veteran-owned businesses, as well as several life insurance options. Underpinning our products strength are systems, marketing and claims initiatives that enhance the timeliness and quality of the service our members receive. We continue to attract talented and experienced senior claims professionals who give outstanding service. Just as importantly, we remain extremely proud of our rich military history and culture, and we are well positioned for continued success. Thank you for your loyalty and commitment to Armed Forces Insurance. We appreciate your confidence and look forward to protecting you in the years to come. Finally, thank you to each of our employees, whose dedication and professionalism differentiates us in today s complicated insurance market place. They demonstrate daily that, truly, Our Mission is You. Yours sincerely, Garry L. Parks, Lieutenant General, USMC, Ret. Chairman Kurt H. Seelbach, CPA, CPCU, ARe President & Chief Executive Officer your AFI management team Back Row (Left to Right) Arlen Briggs, Lori Simmons, Mike Nixon, Loretta Stewart, Kevin Lund Front Row (Left to Right) Antonio Taguba, Garry Parks, Kurt Seelbach your AFI board of directors & executive leadership Garry L. Parks, Lieutenant General, USMC, Ret. Chairman Antonio M. Taguba, Major General, USA, Ret.* Vice Chairman and Subscribers Advisory Committee Chairman Craig M. Kennedy, Commander, USN, Ret.* Subscribers Advisory Committee Vice Chairman Becky Blades Joyce P. DiMarco, Colonel, USA, Ret. Thomas M. Fogt Norman D. Greczyn, Colonel, USA, Ret.* Myron J. Griswold, Colonel, USA, Ret. Paul E. Heacock Kurt H. Seelbach, CPA, CPCU, ARe President & Chief Executive Officer Arlen L. Briggs, CPA Chief Financial Officer & Chief Risk Officer Kevin J. Lund Chief Information Officer Michael T. Nixon, CPCU Vice President, Insurance Operations & Underwriting President, Armed Forces Insurance Agency Lori L. Simmons Asst. Vice President, Marketing & Communications President, Armed Forces Insurance Foundation Loretta Stewart Chief Claims Officer Lynn Rolf* Kurt H. Seelbach* President & Chief Executive Officer (ex officio) Paul D. VanGorden, Colonel, USAF, Ret.* Danny R. Walker, Chief Master Sergeant, ANG, Ret.* George J. Zock* *Subscribers Advisory Committee what Our Mission is You means to us Our founding shaped our beliefs. Over the years, America s men and women in uniform established their own close-knit culture of duty, tradition and family. In 1887, a group of U.S. cavalry officers who shared that culture agreed it was time to create an organization whose sole purpose was to protect the property of their fellow servicemen. That organization became Armed Forces Insurance. Established as a member cooperative, Armed Forces Insurance has upheld its commitments to its members for more than 128 years. Our heritage of military leadership defines us. We treat the troops and their families as they would like to be treated. Armed Forces Insurance s membership has always included the military from enlisted to officer; from military spouses to veterans of foreign wars. We understand what it means to lay everything on the line in defense of our country. We ve lived the unique challenges of military life. The way we see it, our members peace of mind is our MOS our real duty and true calling. Because our members still own our organization, Armed Forces Insurance remains an insurance company focused on what s most important to its members. We always remember, our members service has known no bounds. That s why it s always been our honor to serve the military. And it s why we say, at Armed Forces Insurance, our mission is you. services our members deserve Every Member, Refer a Member At AFI, our growth strategy is largely dependent upon member referrals. Member participation is critical to this important ongoing mission. To make recommendations, members should visit afi.org/referral Membership Eligibility All active duty, retired and former members of the U.S. military services, National Guard and Reserve, Coast Guard, USPHS and NOAA Cadets and midshipmen of the Armed Forces and Merchant Marine academies and contractual ROTC students are eligible DoD employees, either currently employed or retired Spouses and former spouses of a current or former AFI members Children of current or former AFI members Former AFI members (After all, once you re a member, you always will be!) Registering for AFIconnect Members may register for access to AFIconnect at or by calling an AFI agent at It s easy and only takes a few minutes. Paperless Billing & E-Z Pay Paperless Billing gives members a free, safe and secure alternative to receiving a mailed billing statement every month. When members enroll in Paperless Billing and AFI E-Z Pay, we notify them via when their statement is available online. Then, through AFI E-Z Pay, their bill is automatically paid directly from their linked bank account. Member statements are saved with the rest of their documents and are accessible via AFIconnect. And with AFI E-Z Pay, all monthly fees are waived. Members may register by calling AFI s billing department at AFIconnect gives members access from anywhere. AFIconnect offers quick and easy access to members AFI accounts from a Web browser. We are constantly updating and adding features to AFIconnect and now offer the following online services: Manage account information Make a secure payment Sign up for E-Z Pay View policy and claim information Report a claim Enroll in paperless billing Sign up for alerts Identity Theft Advocacy Services Members have access to the following proactive resources at ID Risk Compass is an easy-to-use tool that evaluates whether a member is effectively protecting his or her personally identifiable information. Protect Yourself offers numerous tips to keep a member s identity safe on paper, online, mobile phone, and social media, as well as tips for protection during a disaster, when they travel and tips for protecting personal property. Ask the Expert offers expert tips and insights to help members stand up to identity theft. Identity Theft FAQ helps consumers understand and detect the many forms of identity theft and fraud by providing answers to common questions. ID Theft 911 s Monthly Newsletter features articles on ID theft and its impact on consumers and businesses, along with a practical analysis of how those current events affect privacy and data security. News Alerts offer timely information on cyber threats, data breaches, tax fraud and more. Resources a collection of useful links to help consumers navigate identity and fraud topics. Complimentary MyHomeWorks service Higher energy costs have driven up the cost of home management. MyHomeWorks offers AFI members a convenient suite of customizable, interactive tools to help members increase home efficiency, save money, and inventory their personal property. MyHomeWorks Tools Members have access to the following interactive tools at Home Efficiency Center is a go-to resource for selecting, using and maintaining home systems for optimal efficiency. Home Energy Score calculates a home s efficiency and potential energy cost savings. It offers customized information for improving efficiency and lowering energy expenses. Home Inventory Tool is an easy way to organize photos, receipts and information to create an online catalog of a home s assets and property records stored safely off-site in case a crisis strikes. Virtual Home Tour offers a fun, interactive way to find energy and money saving opportunities in every room of the house. Reduce Utility Rates helps homeowners in deregulated energy states compare rate options and sign up on the spot with a pre-qualified, lower-cost supplier. our insurance products Home An AFI homeowner policy offers broad coverage that insures a member s home and personal property against fire, wind, hail, lightning and other perils. It also covers theft and vandalism, and provides personal liability protection at or away from a member s home. Renter An AFI renter protection package gives a member broader coverage and better value than conventional policies. It insures household goods anywhere in the world. We cover losses from fire, theft, wind, flood, and certain types of losses that many policies omit. We also cover items in storage or lost in transit. AFI policies also include personal liability protection should a member ever face a claim for bodily injury to others or property damage. Auto A member s vehicle may be involved in an incident at any time. Our auto coverage offers liability and property protection, allowing members the flexibility to tailor their policies to meet their specific needs. Business Armed Forces Insurance Agency partners with multiple commercial insurance carriers specializing in protection for veteran-owned businesses. If a member is a small business owner; owns a medical, dental or legal practice; provides consulting services; is hosting an event at a private venue (whether serving alcohol or not); has a home under construction and needs Builders Risk insurance, they can call for professional service from a licensed agent. Umbrella Umbrella insurance covers a member and their family by paying claims that exceed the liability limits of their existing auto or homeowner policy. This affordable coverage is easily coordinated with existing auto, homeowner, or renter policies to create an umbrella of additional liability protection against unforeseen events such as litigation from causing serious injuries or death in an auto accident; extensive hospitalization of friends or neighbors should they slip and fall on a member s property; or litigation for defaming a person or company by name in a blog. Condominium Although condominium associations generally carry a policy covering building structures, coverage varies. Condominium policies protect a member s personal property inside their condo and, if needed, additional coverage for interior improvements and additions, as well as assessments for losses to common property of the association. Flood Standard homeowner policies do not cover flood damage. AFI can issue flood coverage for residences in all 50 states and the District of Columbia for anyone who qualifies under the provisions of the National Flood Insurance Program (NFIP). Valuable Items Protection A member s homeowner or renter policy may not provide all the coverage they need for some categories of highly valued property like jewelry, cameras, musical instruments, fine arts and collectibles. It may contain a monetary limit that is less than the market value of an item, or it may fail to cover unique situations such as a mysterious disappearance or accidental breakage. A valuable items policy from AFI provides coverage for valuable items with no out-of-pocket deductible. Motorcycle/ATV/Golf Carts Members who ride an all-terrain vehicle in the field or a motorcycle on the highway need coverage, too. Many states require insurance for motorcycles and ATVs, as well as golf carts operated off a member s premises. Classic Car/Military Vehicle Standard auto policies won t provide the necessary coverage for classic cars. A classic car policy covers antiques, muscle cars, street rods, modern classics, trucks, and vehicles under active restoration. Boat/Personal Watercraft Half of all boating accidents result in injuries. Even if a member is experienced, not everyone in the water is. Others may not have insurance. Boat insurance covers a member, their family, gear, and a wide variety of watercraft. Life Life insurance is more than just an insurance policy for most people. It is a required piece to protect a family s future well being. With Armed Forces Insurance, members receive education and guidance from an agent that makes their best interest the first priority. Because life insurance may have an impact on other insurance investment decisions, AFI agents offer members a resource who truly understands the nuances associated with different policies and what this means for each member s financial protection priorities. Armed Forces Insurance represents multiple highly rated, financially secure life insurers and assists members with planning and developing a life insurance program that meets individual needs, whether a member is just starting a family or looking at life insurance as part of retirement planning. Motor Home/Travel Trailer Wherever members travel, they need coverage to protect themselves and their property. A standard auto policy will generally not cover a motor home or travel trailer. Motor home and travel trailer insurance covers Type A, B and C motor homes, campers, pop-ups and fifth wheels. Mobile Home Mobile and manufactured homes require an insurance policy that addresses the special exposures associated with mobile homes. fulfilling our mission Your AFI leadership team is continually looking for new partnerships and relationships to strengthen our company, our member services and our brand. Military Warriors Support Foundation Armed Forces Insurance recently partnered with the Military Warriors Support Foundation (MWSF) as the preferred insurance company for the MWSF programs. The MWSF, through Homes4WoundedHeroes, the homes donation program, awards 100% mortgage-free homes to combat wounded veterans. During the NCAA Football Bowl season, AFI helped present three homes to deserving heroes. The Homes4WoundedHeroes program is also available to Gold Star Spouses of Heroes who have fallen in combat. In addition to the home, each family receives three years of family and financial mentoring so that they may learn the skills necessary to become happy and successful homeowners. This program not only changes the lives of the Hero and their family, but it also changes the lives of the generations that follow. To date, the Military Warriors Support Foundation and their partners awarded over 600 homes to military heroes. Snowball Express Armed Forces Insurance is proud to sponsor Snowball Express, which serves the children of our nation s military service members who have been killed on active duty since September 11, Every time someone requested more information about insurance from AFI, we made a donation to the Snowball Express. Like Myles Eckert, the gold star kid who inspired a national movement, Armed Forces Insurance believes in paying it forward to those who have given ultimate sacrifice to protect our nation. proud to be good corporate citizens The Great American Patriot Award, presented by Armed Forces Insurance General Peter Pace, USMC, (Ret.) received the 2014 Armed Forces Bowl s Great American Patriot Award, which was presented during the halftime show at the 2015 Armed Forces Bowl to honor General Pace on his exemplary service to the United States. The award was presented by Lieutenant General Garry L. Parks, U.S. Marine Corps (Ret.), Chairman of Armed Forces Insurance, the sponsor of the award, and official insurance partner of the Lockheed Martin Armed Forces Bowl. The qualifications for the Great American Patriot Award recipient state that the candidate must be of high moral fiber and good character, having spent their lives and/or careers serving the common good of the United States. They will have gone beyond the call of duty to serve and protect this country, with proven dedication and loyalty in upholding the Constitution and the laws of the nation. Finally, the Great American Patriot Award winner will have worked tirelessly to make the U.S. a better and safer place for all its citizens. Following graduation for the U.S. Naval Academy, Lieutenant General Parks added that General Pace embarked on a distinguished military career that saw him serving in both peace and war as he rose from Second Lieutenant to the senior-ranking member of the armed services and the op military advisor to the President of our nation. Throughout his illustrious career, General Pace has always displayed a sterling example, along with a determined connection to young servicemen and women of all branches of the military and their loving families. I am truly honored to present the Great American Patriot Award to General Pace, whose distinguished service to our great nation exemplifies the foundation upon which this award was established. Through both deed and action, over a career that spanned four decades, General Pace has gone beyond the call of duty. Armed Forces Insurance is honored to present the Great American Patriot Award to General Peter Pace, United States Marine Corps (Ret.) who served as the 16th Chairman of the Joint Chiefs of Staff. Pace was the first Marine Officer appointed as chairman, and the first Marine Officer to be appointed to three different four-star assignments, including the 6th Vice Chairman of the Joint Chiefs of Staff, and as Commander-in-chief, U.S. Southern Command, stated Lieutenant General Garry L. Parks, U.S. Marine Corps (Ret.), chairman of Armed Forces Insurance. Left to Right: Lynne Pace, General Peter Pace (Ret.), Lieutenant General Garry Parks (Ret.) supporting families Congratulations to our 2014 Armed Forces Insurance Military Spouse of The Year Lakesha Cole 2014 was filled with advancement for the Armed Forces Insurance Military Spouse of the Year Awards. With a focus on entrepreneurship and careers, many of the Spouses of the Year facilitated professional workshops and provided career support for their peers. The overall AFI Military Spouse of the Year spearheaded this mission Armed Forces Insurance Military Spouse of the Year, Lakesha Cole is an entrepreneur, mother and Marine Corps spouse. Lakesha is the CEO and owner of She Swank Too. Her dream to reality of owning a boutique started as an idea six years ago and today the She Swank Too brand has traveled to customers in all 50 states and three countries leading to the opening of her first pop-up shop in Okinawa, Japan. Lakesha serves as a ment
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