Insurance Networking News - July/August 2011

COMMENTARY

What’s Really Holding Women Back?

WHEN LORI DICKERSON FOUCHÉ WAS NAMED president and CEO of Fireman’s Fund Insurance Co., she became one of four women holding top executive spots in that company. It’s true that Fireman’s Fund has seen turnover in the executive suite; Fouché is the fourth person to hold this role in four years. But more notable is how quickly she rose within the ranks from her mid-level marketing role (less than six years) to sit at the helm. With academic credentials from Princeton, Harvard and Kellogg School of Management at Northwestern University, Fouché obviously comes highly qualified for her new position.

According to Catalyst, a nonprofit membership organization that works to expand opportunities for women in business, only 2.4% of women in U.S. insurance and finance hold the position of CEO. In stark comparison, women comprise 57.3% of the industry’s labor force, 19.1% of its executive officers, and 17.4% of its board members.

Insurance and financial services are not the only industries with lopsided demographics. The Institute for Women’s Policy Research (IWPR) reports an occupational gender wage gap that shows women have lower median earnings than men in 107 out of 111 occupations.

What’s worse: women continue to play a role in per-
petuating this trend. In the mass media, male-bashing
is still common; television talk shows often host angry
women pointing at stereotypical we/they dichotomies.
The complaints and demands for fairness in personal
and business role expectations run the gamut—but it’s
ener�y focused on the sometimes ill-conceived or per-
ceived problems, not the solution.

Pat Speer Editor-in-Chief

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EDITORIAL

Editor-in-Chief Patricia Speer 312.777.1376 Editor Carrie Burns 312.777.1366 Senior Editor William Kenealy 312.777.1372 Contributor Joe McKendrick Online Contributor Jennifer Morrell Art Director Michael R. Vella Group Editorial Director John McCormick

BUSINESS

Publisher Holli Gronset 847.428.0627

Business Development Manager Michael McCaffrey 646.271.9687 Marketing Manager Mendee Morgan 917.915.8426 Sales Coordinator Michelle Vega 312.777.1361 Customer Service 800.221.1809 E-mail custserv@sourcemedia.com Reprint Services Joylyn Yaw 212.803.8368 SVP & Group Publisher Rob Whitaker 212.803.8844

CIRCULATION/DISTRIBUTION/PRODUCTION
Group Marketing Director Edward Hanasik 212.803.6572

Associate Director of Audience Development George Ortiz 212.803.8544

Executive Director of Manufacturing Stacy Ferrara 212.803.8293 Associate Production Manager Maria Marcoff 212.803.8992 Distribution Manager Michael Candemeres 212.803.8538

BOARD OF ADVISERS

Eric Bulis, EVP of Operations and CIO, SBLI USA Mutual Life Cathy Ellwood, Retired (previously Sr. DIrector, Corporate Development & Strategy, Nationwide) Ursuline Foley, SVP and CIO, XLRe at XL Capital Dick Mucci, Chairman and CEO of New York Life International Dennis Mehmen, CIO, VP, Business Information Services, Grinnell Mutual Reinsurance Co. Mike Murray, VP of Finance, OneBeacon Insurance Co. Michael Romano, SVP, Risk & Administrative Services, Highmark Inc. Anthony Sisti, Information Systems Director, Travelers

CORPORATE

Chief Executive Officer Douglas J. Manoni

Chief Financial Officer Richard Antoneck

EVP & Managing Director Banking and Capital Markets Karl Elken EVP & Managing Director Professional Services and Technolo�y Group Bruce Morris EVP & Chief Content Officer David Longobardi EVP, New Business Development Adam Reinebach SVP, Conferences John DelMauro Vice President, Finance Jamie Brokowsky Senior Director, Human Resources Ying Wong