CMIC Group CEO, Denise Funk, Announces Retirement; Stephen Gallant, CMIC Group COO to Assume Role of CEO

GLASTONBURY, CT – CMIC Group, an A- (A.M. Best) rated company and leading member-owned medical professional liability insurance provider, announced today that Chief Executive Officer, Denise Funk, will retire at the end of the year.

Ms. Funk joined CMIC at the company’s onset in 1984, recruited by the Connecticut State Medical Society as a consultant for the newly formed mutual company founded by Connecticut physicians. She was charged with setting up the company and managing CMIC’s operations for three years. At the conclusion of the contract, Ms. Funk took over the position of Chief Operating Officer, and thereafter, Chief Executive Officer. Since then, CMIC has grown extensively, both in logistics as well as in policyholders. Although originally established in Connecticut, the company is now active in 13 states and has expanded to include both CMIC and its member affiliate, CMIC RRG, both of which now fall under the CMIC Group umbrella.

“Denise has led the company with unflinching grace, professionalism and wisdom for over three decades,” said Dr. John Hornby, Chairman and President of the CMIC Board of Directors. “The inception and subsequent success of the company, whose founding enabled many physicians to hang their own shingle and weather a turbulent era in the healthcare industry, is unquestionably due to her extraordinary contributions. Her imprint on the company will be felt for many years to come.”

The role of Chief Executive Officer will be assumed by Stephen Gallant of Glastonbury, Connecticut, the company’s current Chief Operating Officer.

Mr. Gallant has over 20 years’ experience in the insurance industry. Prior to joining CMIC Group in March 2017 as the COO, he served as Senior Vice President of MMG Insurance Company, a property and casualty carrier headquartered in Maine. Additionally, he had also worked for MMG Insurance Company as the Vice President of Marketing and Assistant Vice President of Accounting. Mr. Gallant received his B.S. in Business Administration and M.S. in Business from Husson College in Bangor, Maine. He also completed Executive Development Programs at Dartmouth College, Tuck Business School in Hanover, New Hampshire.

“Steve’s appointment as Chief Executive Officer marks an exciting new chapter in CMIC Group’s remarkable story,” said Dr. Hornby. “His leadership, coupled with his many years of experience, will not only help the company reach its strategic goals in the coming years, but also help CMIC Group to excel far into the future.”