About the LEA
Our Vision and Mission
Founded over 85 years ago, the Loss Executives Association provides a forum for discussion, study and consideration of common loss adjustment problems to explore options and alternatives. It is the LEA’s belief that a better understanding of such problems is the ultimate goal of the educational process.
The LEA presents this education in a number of ways that are useful to you
- Semi-annual conferences in Winter and Spring/ Summer providing continuing education credits
- Sponsorship of scholarship and summer internship programs
- Education of the “Young Professional” within the insurance industry
In 1931, a group of like minded individuals decided to meet on a quarterly basis at the Drug & Chemical Club in lower Manhattan. The group discussed the issues of the day and met as a forum for discussion, study and consideration of common loss adjustment problems with the belief that a better understanding of such problems would lead to a more educated claims environment. Thus, in 1931, the Eastern Loss Executives Conference was formed with its objectives being the consideration of the then current loss and loss adjustment issues, better understanding of the industry, and social contact among peers.
In the early days, the territories involved were the States commonly embraced by the Eastern Underwriters Association. Regular membership comprised such company representatives who were charged with the loss responsibilities with knowledge of the practical issues of the time. Associate membership included such individuals from loss departments and company-owned organizations that would have the educational benefits that the Association could offer. As such, junior members of the loss departments had the advantage of these discussions and, at the same time, all the members had a broader body of knowledge as provided in educational discussions with the General Adjustment Bureaus and the loss personnel of various company underwriting associations. The first President was F.I. Crisfield of Royal Liverpool Group who served for two years.
In January 1950, with the approval of the Board, the organization revised its constitution where the organization was known, to what we know today, as the “Loss Executives Association.”
Over the years as the Association developed, the LEA’s success has been the depth and diversity of the LEA’s membership, which now includes not only insurance company personnel, but also independent adjusters, attorneys, accountants, engineers, builders, and salvors.
From the initiative and commitment of the founders and subsequent leaders, the organization has grown to its present membership strength, all of whom contribute to share and extend the educational precepts articulated 85 years ago.
The history of the LEA is a distinguished and dynamic one. Through its working committees and general membership meetings, it has indeed fulfilled the expectations of its founders by constantly providing the industry education in all facets of the property insurance field. Over the years, the LEA has sponsored numerous seminars and programs covering the entire spectrum of property loss adjustment, including determining value and loss, the proper handling of arson and fraud cases, concurrent causation, and toxic waste removal. Recently, the LEA has partnered with St. John’s University School of Risk Management for educational purposes that range from having top academics present their wisdom to the members to hosting several St. John’s graduate students at our sessions. The latest endeavor is the sole sponsorship of the “Young Professionals”, a one day working session to facilitate shared learning through group interaction for the future leaders of the property insurance industry.
And 85 years later, the LEA is still here on the front lines, doing its part to help educate men and woman in the property loss world.