NJ Insurance Department
“Alec, as I complete my career at the New Jersey Department of Banking and Insurance, I wanted to thank you for the excellent help you have provided over the past several years.
I greatly appreciate your work as Deputy Rehabilitator in dealing with two of our most problematical receivership actions. As more importantly in other cases where you acted as Administrative Supervisor or otherwise performed management and operations assessments, you identified problems and developed creative solutions that were successful in returning troubled companies to financial health.”
Don Bryan | Director | May 4, 2009
Illinois Department of Insurance
“Since 1992, Alec Farley and AIM have provided invaluable services to the Illinois Insurance Department in evaluating numerous potentially troubled companies. His work has enabled us to accurately assess a company’s management and it’s true financial condition. This allows us to develop effective corrective action plans and monitoring or pursue liquidation if necessary. In such situations, his expert testimony and AIM reports become key factors supporting the Department’s case when court action is required.”
Jack Messmore | Chief Deputy Director | May 18, 2009
The Blackstone Financial Group, Inc.
“Alexander Farley, President of AIM and as Special Deputy Rehabilitator of Pawtucket Mutual and Narragansett Bay Insurance Companies saw the intrinsic value to revitalize this 148 year old New England mutual insurance franchise. He created and executed an innovative plan to recapitalize these entities as stock companies. After a well-orchestrated search and bid process, our selection over five other qualified offers has enabled this recapitalized vital New England insurer to increase needed capacity for home coastal wind insurance. Alec, your experience in revitalizing troubled insurers and tireless work was the bridge for us to buy the companies. For your pioneering work, we will forever be grateful!”
Stewart H. Steffey, Jr. | Chairman & CEO | June 2, 2009
NJ Department of Banking & Insurance
“Mr. Farley was appointed Administrative Supervisor of American Preferred Provider Plan of New Jersey (APPP), a 70,000 member Medicaid HMO. AIM’s work was vital in determining the need to place APPP in Rehabilitation whereupon, Alec was appointed the Deputy Rehabilitator. In such capacity, Alec directed operations and pursued the sale of the membership, its potentially most significant asset. Also was the vital task for continuation of member medical services by its contracted doctors and hospitals. Alec secured a record sale price for the membership and performed all his responsibilities with the utmost professionalism and dedication.
Jane Majcher | Special Deputy Commissioner | June 3, 2000