It is with great pride that we share that Jerry Sullivan has been inducted into the Insurance Business America Hall of Fame. With an insurance career spanning more than 50 years, Jerry has worn numerous hats and accomplished a great deal with his unmatched energy, intellectual curiosity, and work ethic.
Growing up in Seattle in what he refers to as the “family” business – John F. Sullivan Co. reinsurance brokerage – Jerry learned the basics of our industry. After graduating from the University of Washington and serving 6 years in the U.S. Air Force, Jerry’s personal insurance journey began to task shape. He handled street claims for Unigard Insurance Company (now part of QBE) and served as the Washington State Chief Deputy Insurance Commissioner. Soon thereafter he joined the family-owned brokerage and in 1980 created the Sullivan Group.
With his keen business intuition, Jerry developed many successful P&C businesses over the years. At one time his company had the largest book of medical malpractice business in the U.S. and the “structured settlements” industry was created by Jerry and his team. Companies owing their heritage to Jerry include MGA/MGUs, Program Managers, wholesale insurance & reinsurance brokerages, as well as several insurance-related companies outside of P&C. His business partners all benefited from Jerry’s vast experience, reputation, and financial support. There are very few insurance or reinsurance companies that Jerry and his team have not worked with over the years, which includes Lloyd’s of London where Jerry has been a Coverholder for over 50 years.
Always a passionate supporter of the insurance industry, Jerry has generously invested countless hours of his own time and that of his employees to foster positive improvements or address industry challenges. He has been active in virtually every major insurance group or association and has served on the boards of the CA Surplus Lines Association and the Council of Insurance Agents and Brokers. As a member of the CA SLA for over 30 years, Jerry played a critical role in their survival. Following the Los Angeles riots in 1992, it was discovered that a significant number of businesses in and around “ground zero” had been defrauded by nefarious agents and offshore surplus lines carriers that lacked the capital to pay claims that ran in the hundreds of millions of dollars. Newly elected CA insurance commissioner, John Garamendi, announced he was shutting down the Surplus Lines Industry. Jerry marshaled a coalition of fellow industry executives to convince the commissioner of the error in taking such an extreme approach to the problem. Ultimately, these efforts led to the CA SLA serving as the statutory surplus line advisory organization to the CDI. Many individuals, including those from Lloyd’s of London, credit Jerry with saving the Surplus Lines industry in California, certainly one factor in his being presented the SLA Lifetime Leadership Award in 2018.
Combining Jerry’s deep respect for others and his commitment to the insurance industry makes Jerry a fountain of information to all who ask. Many of the calls he receives are from those who have tried every option they know, asked other colleagues, and realize there is only one person who has likely “been there and done that.” Each question receives a carefully worded response that educates because Jerry genuinely wants the person to understand the context, history, relevance, and importance of their question; so they know what to do with the information. He has an innate ability to break down the most complex subjects and simplifies them for general consumption, as with his overview of the insurance industry he calls “Circles and Squares” which can be viewed Here via the Insurance Journal website. Other examples include seven times Jerry was interviewed by the Insurance Journal, with topics ranging from insurance market cycles to the role of the insurance broker. And because Jerry believes it is important to know where you are before you determine where to go next, Jerry has for decades tracked U.S. P&C industry data which is compiled into a PowerPoint slid deck. That presentation is shared quarterly with industry leaders both in the U.S. and at Lloyd’s. Jerry also serves on the Advisory Council for the Risk Management Program at the University of Southern California Marshall School of Business that was launched in 2017.
Whether it is his long-time support for the Verbum Dei High School in the City of Watts or hosting interns from WSIA, Jerry has always supported education as a vehicle to help others grow in their skills and understanding of insurance. At the City of Hope, Jerry has been a catalyst in the development of the National Insurance Industry Council, helping to raise tens-of-millions of dollars for cancer research and development. Himself a Spirit of Life honoree in 1997, Jerry has brought numerous industry leaders to add their support to City of Hope’s cause. As a former U.S. Air Force Captain, Jerry has a passion for active or retired military and serves on the Council of Disabled Veterans.
For additional information regarding Jerry’s insurance career, please click HERE to view the video tribute to Jerry Sullivan by the California Surplus Lines Association in July 2018.