|[April 05, 2012]
Markey to Lead VA Insurance Program
WASHINGTON --(Business Wire)--
Vincent E. Markey of Philadelphia has been named director of the
Department of Veterans Affairs' Insurance Center, the eighth-largest
life insurance program in the world covering more than 4 million
Veterans, active-duty Servicemembers, and Reserve Component and National
Guard members, plus 3.1 million spouses and children.
"Vince Markey brings a solid background and continuity to the excellent
management tradition that earned the VA Insurance Center a 95 percent
customer satisfaction rating and recognition in 2011 as the best call
center in government," said Under Secretary for Benefits Allison A.
Hickey. "That recognition of call center excellence was from the
American Customer Satisfaction Index."
The VA Insurance Center directly administers six life insurance programs
and supervises the Sericemembers' Group Life Insurance and the
Veterans' Group Life Insurance programs. These programs provide $1.3
trillion in insurance coverage.
In 2011, VA's life insurance programs returned $249 million in dividends
to 753,000 Veterans holding some of these VA life insurance policies,
and paid $2.3 billion in death claims to the beneficiaries of 141,000
Veterans and servicemembers.
The program has grown to meet the challenges of the current conflict
through a new Traumatic Injury Protection program under Servicemembers'
Group Life Insurance that provides coverage to 2.4 million active-duty
personnel. Those who suffer certain severe traumatic injuries may
receive benefit amounts ranging from $25,000 to $100,000, depending on
Markey is a long-time Insurance Center employee who began his federal
service in 1981 at the Philadelphia Regional Office and transferred to
the national Insurance Center, which is co-located there, in 1985. He
has held various positions in VA's insurance program, most recently as
chief of the Insurance Service Program Management Division.
Markey, who received his bachelor of business administration degree in
accounting in 1978, has served on the board of directors of the VA
Center's Employee Association and has chaired the Philadelphia Regional
Office and Insurance Center's Equal Employment Opportunity advisory
Markey succeeds Tom Lastowka, who retired after serving as director of
both the Insurance Center and the co-located regional office since 1990.
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