Mr. Tierney was first appointed to CAR’s Governing Committee in 2011
Insurance Commissioner Joseph Murphy has reappointed John P. Tierney, FCAS, MAAA to the CAR Governing Committee. Mr. Tierney, who represents The Quincy Mutual Group, began his term earlier this month on July 1, 2012. The appointment will continue for six years until 2018. In addition to his seat on the Governing Committee, Mr. Tierney also serves on CAR’s Actuarial Committee. This will be the second year that Mr. Tierney will serve, having been first appointed by the Commissioner in 2011.
In reflecting on his experience at CAR, Mr. Tierney observed that it was, “The ability of people with different backgrounds and perspectives to come together to develop common solutions” to the problems presented that he found to be the most interesting aspect of serving on the Governing Committee.
A Senior Vice President and Chief Actuary with The Quincy Mutual Group, Mr. Tierney is responsible for Product Pricing and Personal Lines Underwriting for the company. Prior to joining Quincy Mutual, Mr. Tierney held various executive positions throughout the Massachusetts insurance industry with companies such as Commercial Union, Tillinghast, Hanover Insurance, and Bunker Hill Insurance. His last position prior to joining Quincy Mutual was as a Senior Vice President of Karen Clark and Company, a consulting firm dedicated to helping insurers better understand and manage catastrophe risk.
Mr. Tierney is a Member of the American Academy of Actuaries and a Fellow of the Casualty Actuarial Society. As a Fellow of the Casualty Actuarial Society, he is both a past member of its Board of Directors and the past Chair of its Discipline Committee.
Commonwealth Automobile Reinsurers is the industry operated residual market and statistical agent for motor vehicle insurance in Massachusetts. The Governing Committee is the body “…responsible for the administration of CAR, including the preparation and filing of the Plan and Rules of Operation and the adoption and filing of any amendments to the Plan or Rules of Operation.” The Governing Committee is comprised of thirteen members appointed by the Commissioner of Insurance to serve a six-year term. Seven members are from insurance companies, with the remaining six spots appointed to associations representing Massachusetts insurance agents. Two of the six members representing insurance producers are assigned risk producers, or agents who do not have a voluntary contract.