American Fraternal Alliance has honored Ohio Insurance Director Jillian Froment with its Outstanding Policymaker Award in recognition of her leadership in implementing reforms that provide additional consumer protections for Ohio consumers.
The American Fraternal Alliance represents more than 60 not-for-profit fraternal benefit societies domiciled in the U.S. and Canada. These societies provide a variety of financial services products – primarily life insurance and annuities – to their more than nine million members, along with a host of other member benefits, from scholarships to financial planning courses, to social networking.
According to the Ohio Department of Insurance, the Alliance’s “Outstanding Policymaker” award is not given out annually, but only in those years when the Alliance identifies a worthy recipient. Froment was recognized for helping to enact meaningful reforms to Ohio’s fraternal regulations that protect consumers while at the same time providing fraternal life insurers the ability to compete on a level playing field with other competitors in the marketplace.
Specifically, the changes signed into law balance the need for strong solvency and governance regulations for fraternal organizations to protect consumers without unnecessarily hindering the industry. The Alliance recognized Froment for the Department’s collaborative approach through the process.
Source: Ohio Department of Insurance