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Stephen J. Klingel, president and CEO of the National Council on Compensation Insurance Inc., plans to retire from his post in February 2016, the workers compensation ratemaking agency said Friday.
Mr. Klingel has headed up Boca Raton, Florida-based NCCI since 2002. NCCI said it is forming a search committee to evaluate candidates for its next chief executive, and that Mr. Klingel will continue to run day-to-day operations in the meantime.
“During Steve’s time at NCCI, he has delivered impressive business results and strengthened relationships with all of NCCI’s stakeholders, including insurance carriers, state regulators, agents, and independent bureaus,” said Elizabeth Haar, chairwoman of the NCCI board and president and CEO of Lansing, Michigan-based workers comp insurer Accident Fund Holdings Inc., in the statement.
Prior to joining NCCI, Mr. Klingel was senior vice president for commercial lines with The St. Paul Cos. Inc., which merged with The Travelers Cos. Inc. in 2004.
Workers compensation premiums are projected to grow 7% this year over 2013 to $39.3 billion as workers comp insurers see the first signs of profitability in eight years, the National Council on Compensation Insurance Inc. said Monday.