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Board governance diversity in the insurance industry: Best practices recommended by the Alliance for Diversity in Corporate Governance
The issues of inclusion and diversity in society occupy a national scope in discussions for solutions to those challenges. On 22nd July, 2016 an alliance of leadership representing the insurance industry, institutional investors and allied professions met in Napa, CA to examine strategies and devise best practices to capture the momentum created by the California Department of Insurance (DOI) Insurance Diversity Initiative on governance diversity and inclusion. The imperative for this effort was to align strategies between members of the California DOI Diversity Task Force, insurance industry leaders, institutional investors, business executives and trade organisations with current DOI monitoring of inclusion and diversity in insurance governance. The result of that effort is captured in this paper on the founding of the Alliance for Diversity in Corporate Governance, including recommendations furthering the goal, as well as roles for each of the stakeholders.
The full article is available to institutions that have subscribed to the journal
Michael G. Keeley is the President and CEO of MGK Risk and Insurance Services, Inc. He has over 30 years’ experience in commercial insurance litigation management, claims resolution and as an independent broker. He is the current Chairman of the California Department of Insurance Diversity Task Force and a past member of the SMUD Community Advisory Partners, California Governor’s Small Business Task Force and Chairman of the Sacramento Black Chamber of Commerce. He received his undergraduate education at UCLA and Juris Doctor from the University of California Hastings College of the Law.