Accident Fund Holdings Announces Promotions of Key Executives

January 3, 2014

LANSING, MI – Accident Fund Holdings, Inc., has announced the promotion of several key executives who have been instrumental in building the company’s ongoing success and growth in the workers’ compensation insurance market. The promotions include Frank Freund of East Lansing, Mich., Lisa Corless of Lansing, Mich., and Becky Holnagel of Okemos, Mich.

“For more than 100 years, our growth has been tied to the dynamic and experienced individuals who have worked for our organization,” said Liz Haar, president and CEO of Accident Fund Holdings. “Their efforts have effectively supported our intense focus and specialization in workers’ compensation insurance. I am proud of these particular individuals for their commitment to excellence. Together, we are an extraordinary team that is dedicated to fulfilling our mission with an unwavering commitment to our customers. We are creating an exceptional culture that has earned recognition throughout the industry and I am confident these leaders will carry us toward continued future success.”

Promotions include:

Frank Freund has been promoted to executive vice president of Corporate Performance and chief financial officer. Freund most recently served as chief financial officer for Accident Fund Holdings.

In his new role, Freund will be responsible for the management of the company’s Claims, Underwriting, Finance and Marketing departments. He will provide strategic direction and management oversight to all corporate and regulatory finance functions, including accounting, financial reporting, budgeting and planning, and will play a significant role in risk management.

Prior to joining Accident Fund Holdings, Freund served as executive vice president, chief financial officer and treasurer for American Physicians Capital, Inc., a publicly traded medical professional liability company. Other past experience includes public accounting for Deloitte & Touche; Andrews, Hooper, Pavlik; and Ernst & Young serving clients in the insurance and health care sectors. A certified public accountant (CPA), Freund earned a bachelor’s degree in Accounting from Michigan State University.

Lisa Corless has been promoted to chief administrative officer and chief of staff. She was hired in August 2013 to serve as director of Strategic Planning & Innovation and chief of staff.

In her new role, Corless will be responsible for the management of the company’s Board & Community Relations, Community Relations, Corporate Communications, Facilities, General Counsel, Government Affairs, Information Technology, Procurement, Project Management, Public Relations, Records Management, Security, and Strategic Planning & Innovation departments.

Prior to joining Accident Fund Holdings, Corless worked in a variety of capacities for Texas Mutual Insurance Company for 15 years, most recently serving as chief operating officer. She has 26 years of experience in the insurance industry, 12 of which as an executive, including serving as senior vice president of Claim Operations and senior vice president of Underwriting Operations for Texas Mutual Insurance Company. Corless earned a Bachelor of Science degree in Business Administration and is currently pursuing an Executive Master of Business Administration degree from the University of Texas, McCombs School of Business.

Becky Holnagel has been promoted to vice president of Actuarial Services. Holnagel began her career with Accident Fund in 2006 as an actuary and was promoted to director of Actuarial Services in 2009.

In her new role, Holnagel will be responsible for providing insight, knowledge and strategic direction to the actuarial functions for Accident Fund Holdings through pricing, reserving, reinsurance, rate structure and statistical reporting activities.

Prior to joining Accident Fund Holdings, Holnagel was employed at Citizens Insurance Company of America as an underwriter and actuary. She also worked in the actuarial department for MEEMIC Insurance Company. She is a Fellow of the Casualty Actuarial Society (FCAS) and holds a Bachelor of Arts degree in Mathematics from the University of Michigan, Flint.

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