William Malphurs

With over 35 years in the insurance industry, Mr. Malphurs has gained broad experience in the underwriting, audit, loss control, claims, and classification areas of the workers’ compensation industry. 

Beginning his Insurance career with USF&G, and most recently in management with AmTrust North America before starting his firm, he brings extremely strong analytical, underwriting, and management skills to the group. He served as the Chief Underwriting Officer for the Covenant Group where in addition to being responsible for the company’s underwriting arm, he also managed the Residual Market Operations, Audit Operations, and Government Affairs. During his time with USF&G, he began his career in claims and litigation management before becoming involved in underwiring and project management. He spent 10 years at the National Council on Compensation Insurance, where he served in a variety of underwriting, supervisory, and management roles. In his last position with NCCI, Mr. Malphurs provided oversight of the national and state-specific residual market filing in 23 states and was responsible for the selection and administration of those insurance companies operating as servicing carriers for the residual market in the NCCI states. 

In his 20 year tenure with the covenant group and AmTrust Financial, he was involved in guiding the underwiring area while developing a residual market operation. The residual market grew from the ground up to become the third-largest operation in the country.

Below is a brief list of management accomplishments. 

·       Helped direct the Covenant Group from a 2 year running combined loss ratio from approximately 190% to an 82% combined ratio in 2 years.

·       Established a residual market program taking it from $0 to a high of $174 Million with contracts in 14 states.

·       Designed successful work from home programs that increased productivity, employee retention, and overall quality of service while dramatically decreasing costs

·       Successfully brought 5 companies through the acquisition process and assimilating them into the AmTrust companies. Rejected another 6 due to concerns discovered during the due diligence process.

·       Established underwriting guidelines to help achieve profitability.

·       Wrote and implemented Guidelines and operational procedures for residual market operations in Underwriting, Audit, Loss Control, Claims, Finance, and customer service. Initially trained staff in all areas in the early years with an emphasis on a self-replicating training process.

·       Ran a group of operational effectiveness teams producing meaningful change and operational efficiencies. 

 Mr. Malphurs has served on the National Workers Compensation Reinsurance Association Pool Board both as the Vice-Chair and the Chair on behalf of the AmTrust Group and has served on the National Pool Board of Governors from 2004 to 2008, 2009 to 2012, and again from 2014 until 2019. During that time he served as Vice-Chair and Chair of the National Pool as well as on various ad hoc committees. He also has served on the Indiana Compensation and Rating Bureau Board from 2010 until 2020 and was one of the trustees for the Indiana Pool. He served on the Missouri Aggregate Excess of Loss Reinsurance Mechanism Advisory Board 

He has served in a consulting capacity for a variety of state and federal government committees regarding residual market and workers' compensation insurance issues. Before entering the insurance industry, Mr. Malphurs ran a small consulting company as well as managed a group of speakers where he booked media events, wrote resource and training materials. He now is enjoying returning to those consulting roots and is excited to be back partnering with others to help them grow, progress, and meet their business goals and needs.