The California Insurance Commissioner announced appointments of April Savoy, Patrick Wong, and Peter Guastamachio as members on the California Insurance Guarantee Association (CIGA) Board of Governors.
The CIGA Board of Governors oversees the guarantee association’s general operations and management in order to protect policyholders in the event of an insurance company insolvency. Established in 1969 by the Governor and California State Legislature, CIGA comprises all insurance companies admitted to sell homeowners, workers’ compensation, automobile, and other specified property and casualty lines of insurance in California.
April Savoy is Senior Vice President and Deputy General Counsel at Allstate Insurance Company, where she serves as secretary for the Allstate Health, Benefits, and Financial Services subsidiary boards and is a working group member of the Environmental, Social and Governance Steering Committee.
She leads the Insurance Law and Legal Operations Division for the Allstate Enterprise and has over 25 years of experience in enterprise risk, legal, regulatory compliance, claims coverage, and corporate governance. Some of her previous board service experience includes serving on the Executive and Finance Committees, and Board Secretary of the Siloam Family Health Center, and membership on the Resource Development Committee of United Way of Central Ohio.
Savoy has been appointed to the CIGA Board of Governors in the member insurer representative seat, with a term ending on December 31, 2025.
Patrick Wong is Senior Vice President, General Counsel, and Secretary for CSE Insurance Group.
Wong has over 20 years of experience in insurance and is a member of CSE’s Executive Leadership Team leading the Corporate Department, which includes Legal, Governance, Compliance, Quality Assurance, and Internal Audit. He serves as the representative for CSE on the Pacific Association of Domestic Insurance Companies Board of Directors and is a past member of the In-House Counsel Committee of the Asian American Bar Association of the Greater Bay Area.
Wong has been reappointed to the CIGA Board of Governors as the representative of CSE Insurance Group in a member insurer seat with a term ending on December 31, 2025.
Peter Guastamachio is Chief Investment Officer and Treasurer for the State Compensation Insurance Fund (SCIF), overseeing a multi-billion-dollar investment portfolio.
Guastamachio has 40 years of experience in finance, including over 20 years of experience in the insurance industry in both publicly traded insurance companies as well as a public state fund. Guastamachio is a member of the National Association of Corporate Directors (NACD) and holds the Governance and Leadership Fellow certifications from the NACD.
Guastamachio has been reappointed to the CIGA Board of Governors as the representative of SCIF in a member insurer seat with a term ending on December 31, 2025.