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SPE Insurance Program SPE’s Partners in the SPE/GeoCare Insurance Program AAPG (American Association of Petroleum Geologists) AAPL (American Association.

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Presentation on theme: "SPE Insurance Program SPE’s Partners in the SPE/GeoCare Insurance Program AAPG (American Association of Petroleum Geologists) AAPL (American Association."— Presentation transcript:

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2 SPE Insurance Program SPE’s Partners in the SPE/GeoCare Insurance Program AAPG (American Association of Petroleum Geologists) AAPL (American Association of Professional Landmen) SEG (Society of Exploration Geophysicists) SEPM (Society for Sedimentary Geology) COPAS (Council of Petroleum Accountants Societies) Several smaller societies

3 SPE/GeoCare Insurance Commitee
6 AAPG Members 1 SPE Member 1 AAPL Member 1 SEG Member (currently open) The Committee meets twice a year in person, and as needed by teleconference

4 SPE Insurance Program SPE’s healthcare insurance program changed in 2014, when our medical insurance provider (New York Life) exited the group healthcare business after passage of the Affordable Care Act We still provide many other plans…

5 Current Plans Term Life Joint First-to-Die
10-Yr level Premium Term Life Guaranteed Term Life High-Limit Accident Disability Income Cancer Expense In-Hospital Long-Term Care Medicare Supplement Auto Homeowner ID Theft Assist Fixed Annuities International Travel

6 Insurance Broker Michael Strunk, the CEO of Creekmore Livingston Incorporated (CLI) has been our broker for decades, and has saved SPE members untold dollars over the years by being “in our corner” Sadly, CLI has recently (1 July 2016) exited the brokerage business. With the end of the comprehensive healthcare plans, the commissions earned by CLI weren’t enough to support it Virginia Thaemert (CLI’s President) will stay on with AGIA through September 2016 to aid the transition

7 Insurance Administrator
AGIA (Association Group Insurance Administrators) has been the administrator of our insurance plans for years AGIA meets with us twice a year (with conference calls as necessary) to receive instruction on execution of our plans The societies provide mailing lists to AGIA (typically based on state of residence and age ranges) for plan mailings, which are developed by our broker and/or administrator and approved by the committee. These lists are for single use only - your personal information is secure

8 Year-End 2015 Statistics As of December 31, 2015, the program participation totaled 9,376 active certificates with a total annualized premium of $10,513,519, excluding the insureds in the New Member Disability and New Member Term Life programs. With the inclusion of the new member insureds, the totals increase to 17,166 active certificates with a total annualized premium of $11,442,193.

9 SPE Insurance Websites
For Health Insurance Plans: (877) For All Other Plans:


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