Congratulations to our Insurance Woman of the Year 2014
The APIW Insurance Woman of the Year award, presented annually since 1976, recognizes an exceptional woman who has achieved prominence in the insurance industry. Dr. Therese M. Vaughan was chosen as this year's award recipient in recognition of her outstanding achievements and leadership within the industry, as well as her commitment to the advancement of women.
Therese M. Vaughan, Ph.D.
Corporate Director, Public Speaker and Author
Therese M. Vaughan, Ph.D. has been selected as this year’s recipient of the APIW Insurance Woman of the Year Award. A cocktail reception and award ceremony honoring Dr. Vaughan will be held on Tuesday, June 10, 2014, from 6:00 p.m. to 8:30 p.m. at the New York Marriott Marquis.
Dr. Vaughan began her career as a professor of risk management and insurance. In 1994 she was appointed by the Governor of Iowa to be the Iowa Insurance Commissioner, responsible for regulating the insurance and securities markets in Iowa. She held this position for more than 10 years, having been appointed by governors of both major parties. During her tenure, she led a staff of approximately 95 individuals.
Returning to the academic world in 2005, Dr. Vaughan became the Robb B. Kelley Distinguished Professor of Insurance and Actuarial Science at Drake University. She taught courses on the management of financial institutions and financial regulation, served as a director on corporate boards, authored articles, and revised a textbook.
From February 2009 to November 2012, Dr. Vaughan served as the Chief Executive Officer of the National Association of Insurance Commissioners (NAIC). As CEO, she oversaw the operations of the NAIC and served as its primary representative and chief spokesperson in Washington, D.C. She was an active participant in international regulatory deliberations, representing the NAIC as a member of the Executive Committee of the International Association of Insurance Supervisors (IAIS) and as a member of the steering committee for the U.S./E.U. Insurance Dialogue Project. Dr. Vaughan worked with the members of the NAIC to develop and promote NAIC international policies, prepare the NAIC’s response to the Dodd-Frank Act, and develop and implement the NAIC’s Solvency Modernization Initiative. In 2012, she chaired the Joint Forum, a Basel, Switzerland-based group of banking, insurance, and securities supervisors that studies and makes recommendations on cross-sectoral issues.
Today, Dr. Vaughan is a corporate director, public speaker, and author. She serves as a director of IFG Companies, Validus Holdings, Verisk Analytics and Wellmark Blue Cross and Blue Shield.
Dr. Vaughan has been an extraordinary role model to many women in the industry. As a professor, she advised and mentored a number of aspiring actuaries and other professionals. Young women, in particular, sought her advice as they prepared to enter the male-dominated actuarial profession or other fields in insurance. In addition to advising students on coursework and exams, she helped them network, develop resumes, and find internships and permanent employment. Today, young women she mentored are found in risk management and insurance positions in the U.S. and elsewhere, including London and Zurich.
Dr. Vaughan also supported many women interested in insurance regulation. As an officer of the NAIC, she placed a number of female Commissioners in key leadership positions. In the years following Dr. Vaughan’s tenure, four of ten NAIC Presidents were women, all of whom benefitted from Dr. Vaughan’s support. While serving as the Director of Drake’s Insurance Center from 1988 to 1994, Dr. Vaughan participated in and supported the activities of the Insurance Women of Greater Des Moines which promoted the advancement of women in insurance.
Dr. Vaughan earned a Ph.D. in risk and insurance at the University of Pennsylvania and a B.B.A. in insurance and economics at the University of Iowa. She is a CPCU, an Associate of the Society of Actuaries, an Associate of the Casualty Actuarial Society, and a Member of the American Academy of Actuaries. She is the co-author of two college textbooks on insurance: Essentials of Insurance and Fundamentals of Risk and Insurance. She is a past editor of the Journal of Insurance Regulation, and a past president of the American Risk and Insurance Association. Dr. Vaughan has received many honors and awards. Her most recent awards include Distinguished Fellow, International Association of Insurance Supervisors, 2013; Top 25 Living Legends in Insurance, National Underwriter, 2012; 100 Most Influential People in Healthcare, Modern Healthcare, 2011. She was inducted into the Iowa Insurance Hall of Fame in 2003.
The APIW Insurance Woman of the Year Award, first presented in 1976, recognizes an exceptional woman who has achieved prominence in her profession and has made significant contributions to the insurance industry. All nomination forms for APIW Insurance Woman of the Year are sent directly to an independent Woman of the Year Committee appointed by the APIW Immediate Past President. The Committee is comprised of no more than six accomplished professionals representing various segments of the industry.
In announcing this year’s award, APIW President Isabel Silvestri said: “APIW is proud to bestow this honor on Dr. Therese M. Vaughan. She serves as an outstanding role model. Her mentoring, gracious management and demonstrated support for insurance professionals is well known. Her leadership and accomplishments, as well as her commitment to supporting and advancing women, are exceptional examples of all of the qualities that APIW looks for in the recipient of this highly prestigious honor. She has portrayed exemplary professionalism in all her activities and is highly respected in every organization she has worked with and within our industry generally.”