California Restaurant Mutual Benefit Corp. announces appointment of new CEO, successful loss portfolio transfers (LPTs), and substantial capital surplus.
— Kaya Stanley, CEO of CRMBC and owner of Stanley Restaurant Management
FREEMONT, CALIFORNIA, UNITED STATES, October 4, 2023 /EINPresswire.com/ — California Restaurant Mutual Benefit Corp. (CRMBC) marks a pivotal moment in its growth with the appointment of a dynamic new CEO, the transition to a seasoned Administrator, successful loss portfolio transfers (LPTs), and a substantial capital surplus announcement.
Kaya Stanley, JD/MSW, joins CRMBC as the new Chief Executive Officer and Board Chair, marking an industry-defining move. With over 22 years of experience as an attorney and restaurant owner, Ms. Stanley’s visionary leadership aligns with CRMBC’s growth initiative. She has been a pivotal part of CRMBC’s journey, serving on the board of trustees since 2012. Under her leadership, CRMBC transformed from an $80MM deficit in 2012 to a $20+MM surplus in 2023.
Accompanying the change in leadership is the appointment of The PATH Alliance as CRMBC’s new Administrator. PATH brings significant expertise to CRMBC, with one of its owners, Jon Wroten, being the former Chief of the Office of Self-Insured Programs (OSIP) for California. Wroten’s expertise extends to the very laws CRMBC must adhere to. Alongside Jerry Laval, who has 36 years of experience in insurance and claims, CRMBC, under PATH’s guidance, is experiencing substantial savings, enhanced member services, and increased control over workers’ compensation claims.
CRMBC’s financial strength is highlighted by its ability to return $6 million in surplus assessment funds to qualified members in December 2022. This return follows two Loss Portfolio Transfers (LPTs), emphasizing CRMBC’s financial stability and long-term sustainability. These strategic moves showcase CRMBC’s commitment to responsible risk management and its dedication to providing self-insurance benefits to small and mid-sized restaurant operators.
Kaya Stanley, CEO of CRMBC and owner of Stanley Restaurant Management, emphasizes, “CRMBC was formed by restaurant owners for restaurant owners.” One of its most valuable assets is the dedicated board of trustees, comprised of prominent figures in the California restaurant industry.
Since 2012, when third-party service providers mismanaged the group, Ms. Stanley’s top priority has been to infuse CRMBC with highly qualified experts in work comp, self-insurance, finance, law, and restaurant operations. The result is a board of industry leaders committed to the organization’s mission:
Russell Bendell: Retired CEO, The Habit Burger Grill, Emeritus Past Chairman of The Board, California Restaurant Association
Rodney Couch: Secretary-Treasurer Owner of Market Broiler, MB Grill, Blue Water Grill, Contract Food Service
Dennis Graspointer: Vice-Chairman & McDonald’s Franchisee
Shamez Jivraj: Attorney, KFC and Pizza Hut Franchisee
Bryce Myers: Sizzler Franchisee and Richie’s Real American Diner
Craig Schrader: McDonald’s Franchisee
Kaya Stanley: Chairman/CEO, Attorney, and owner Stanley Restaurant Management
Selwyn Yosslowitz: Founder of Marmalade Cafe and Emeritus Board Member, California Restaurant Association (CRA), Past President Los Angeles Chapter CRA
Recent publications from the California Self-Insured Security Fund highlight the potential for companies to save as much as 28% by self-insuring their workers’ compensation coverage. This savings opportunity is due to the profit margin typically built into programs by traditional carriers. Over the last 105 years, self-insurance has consistently outperformed the commercial insurance market on every level, offering greater control and improved outcomes.
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