Full-time Actuary Joins MMIC

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Full-time actuary joins MMIC

Minneapolis, MN (Jan. 4, 2010) — Steve Lacke, FCAS, MAAA, MBA, has joined MMIC Group as vice president of finance and chief actuary.

Lacke will play a key role in MMIC’s underwriting and decision-making processes, including pricing, reserving, client support (alternative risk mechanisms), reinsurance support and strategic planning. He will also join the company’s management group to determine needs and develop flexible strategies for large health care systems.

“Previously, we worked with an outside resource for 10 weeks on a contract basis, so having an internal expert available to us all year is a definite advantage,” said Niles Cole, MMIC’s senior vice president of finance.

“The chief actuary position, along with Steve’s rich experience, underscores our commitment to being a long-term viable insurance partner. We’re focused on investing in the future and creating individualized insurance solutions tailored to specific organizations — all while achieving our goals in the most fiscally prudent way.”

In addition to strategic and tactical planning, Lacke will also lead the development of a data warehouse to support a more data-centric decision-making process and utilize predictive modeling as a pricing tool.

Lacke’s extensive experience includes positions at RSM McGladrey, Inc., Christopher Gross Consulting, Inc., Travelers Insurance Company/St. Paul Travelers and American Family Mutual Insurance Company.

MMIC Group is the leading medical professional liability insurance company in the Upper Midwest. It provides coverage to physicians, clinics, facilities and hospitals in Minnesota, Iowa, South Dakota, North Dakota, Nebraska and Wisconsin.