– Click here to download full Curriculum Vitae –

 David L. Stegall, CPCU, ARM, ARe, RPA                                                 Curriculum Vitae (as of 07/01/17)

855.255.5353 • www.rces.usdavid.stegall@rces.us
6 Office Park Circle, Suite 100 • Birmingham, AL 35223 and 65 W. Jackson Blvd. #113 • Chicago, IL 60604

David Stegall is the Principal Consultant and Founder Risk Consulting & Expert Services in 2007.  He has over 39 years of insurance and risk management industry experience. He is a Chartered Property & Casualty Underwriter, an Associate in Risk Management, an Associate in Reinsurance and a Registered Professional Adjuster. He has experience as an underwriter, an agent, a broker, a surety bond producer, a reinsurer, a managing general agent, a third-party administrator, a captive manager, a self-insured fund executive, risk management consultant and an expert witness.

He is President of the Society of Risk Management Consultants, a member of the Board of Directors of the Alabama Captive Association, a member of the Society of Chartered Property & Casualty Underwriters, the Association of Registered Professional Adjusters, the Forensic Expert Witness Association, Defense Research Institute, and an Associate Member of the American Bar Association, Litigation Section, Tort & Insurance Law Committee.

His insurance and risk management consulting practice provides research, analysis and advice to commerce, industry, government and individuals.  The forensic expert witness consulting practice includes having been Designated as an expert on over 90 forensic case assignments, in over 30 State and 32 Federal Districts. These include: Alabama, California, Connecticut, Florida, Georgia, Hawaii, Illinois, Indiana, Kentucky, Louisiana, Maryland, Mississippi, Missouri, New York, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia and Wisconsin.  He has provided over 70 Expert Opinion Reports, been Deposed over 40 times and testified in four Trials. Approximately 60% of cases were for the Defense and 40% for the Plaintiffs.


  • Auburn University – Auburn, Alabama, B.A. in Communications 1979
  • Coles Graduate School of Business – Kennesaw State University, 1991-1993


  • Chartered Property & Casualty Underwriter (CPCU)
  • Associate in Risk Management (ARM)
  • Associate in Reinsurance (ARe)
  • Registered Professional Adjuster (RPA)
  • Principles of Suretyship
  • Cyber Risk Management

Professional Affiliations:

  • Society of Risk Management Consultants, President
  • Alabama Captive Association, Board of Directors
  • Society of Chartered Property & Casualty Underwriters
  • 86 Pillars, Insurance Practice Director
  • Registered Professional Adjuster’s Association
  • Forensic Expert Witness Association
  • American Bar Association, Associate Member/Section of Litigation – Tort & Insurance Law Committee
  • Defense Research Institute, Expert Witness
  • A. M. Best Expert Service Provider

Professional Experience:

Principal Consultant

2007 to Present

Risk Consulting & Expert Services
Insurance and risk management consulting to commerce, industry and government; Management Consulting, Market Research, Product Development, Regulatory Compliance & Underwriting Consulting to the insurance, self-insurance and reinsurance industry; Expert witness and litigation support.

National Director Alternative Risk Transfer

2003 to 2006

CRC Insurance Services, Inc. (Subsidiary of BB&T)
Provided alternative risk management services and transfer products nationwide to independent agents, program administrators, self-insurers, self-insured groups, insurance carriers, captive insurers, reinsurers, associations, affinity groups and other entities willing and able to bear risk.

Gulf States Regional Assistant Vice President

2001 to 2003

Midwest Employers Casualty Insurance Company (Subsidiary of W.R. Berkley Corporation)
Underwriting services for excess workers’ compensation, alternative risk, insurance, reinsurance products and providing consulting services to risk-bearing employers and entities nationwide on both a primary and excess basis.

Executive Vice President

2000 to 2001

Workers’ Comp Source
Provided Managing General Underwriting and Third-Party Administrative management services to third-party administrators and brokers.

Vice President and Chief Underwriting Officer

1998 to 2000

AmComp, Inc. (Now Employers Inc.)
AmComp was one of the largest carriers in Florida with $150 million of written premiums in 21 states.

National Accounts Manager

1994 to 1997

Willis, Inc., Gulf States Region
Coordinated risk management to national account clients.


1992 to 1994

ManagedComp, Inc. (Subsidiary of Tufts Associated Health Plans)
Incorporated, managed and marketed a Georgia captive insurance company with an occupational medicine preferred provider organization (PPO).

Vice President

1989 to 1992

Boger, Reid & Flournoy (Now Brown & Brown)
Assisted in developing, managing, marketing, selling & servicing several state, regional and national insurance programs.

Account/Agency Executive

1977 to 1989

Stegall Agency; Corroon & Black; Garner Meshad Wood; Cobbs, Allen & Hall Insurance Agencies
Underwriting, marketing, sales & service.

Professional Development Course Study:

Chartered Property & Casualty Underwriter:

  • Foundations of Risk Management, Insurance, and Professionalism
  • Insurance Operations, Regulation, and Statutory Accounting
  • The Legal Environment of Insurance
  • Business and Financial Analysis
  • Commercial Property Risk Management and Insurance
  • Commercial Liability Risk Management and Insurance
  • Survey of Personal Risk Management, Insurance, and Financial Planning
  • Financial Services Institutions

Associate in Risk Management:

  • Risk Assessment – Establishing Risk Management Programs; The Risk Management Process; Legal Foundations of Liability Loss Exposures; Assessing Property, Liability, Personnel, and Net Income Loss Exposures; Management Liability and Corporate Governance; Forecasting Losses; and Cash Flow Analysis.
  • Risk Control – Controlling Property, Personnel, Liability, and Net Income Loss Exposures; Intellectual Property Loss Exposures; Criminal Loss Exposures; Disaster Recovery for Property Loss Exposures; Understanding Claim Administration; Fleet Operations Loss Exposures; Environmental Loss Exposures; Understanding System Safety; Motivating and Monitoring Risk Control Activities.
  • Risk Financing – Understanding Risk Financing; Insurance as a Risk Financing Technique; Insurance Plan Design; Reinsurance and Self- Insurance; Retrospective Rating Plans; Captive Insurance Plans; Finite and Integrated Risk Insurance Plans; Capital Market Risk Financing Plans; Forecasting Accidental Losses; Self-Insurance Plans; and Purchasing Insurance and Other Risk Financing Services and Risk Financing Needs.

Associate in Reinsurance:

  • Primary Insurance Coverage: Overview of Personal Insurance, Personal Auto, Homeowner’s Insurance, Miscellaneous Personal Insurance Coverage, Commercial Property Insurance, Business Income Insurance, Inland and Ocean Marine, Commercial General Liability, Commercial Auto, and Worker’s Compensation and Employer’s Liability Insurance.
  • Reinsurance Principles and Practices: Introduction to Reinsurance, Types of Reinsurance and Reinsurance Program Design, The Reinsurance Placement Process, Common Reinsurance Treaty Clauses, Quota Share Treaties, Surplus Share Treaties, Property Per Risk Excess of Loss Treaties, Casualty Excess of Loss Treaties, Catastrophe Reinsurance, Aggregate Excess of Loss Treaties, Reinsurance Audits, Reinsurance Regulation, Reinsurance Aspects of the NAIC Annual Statement, and Reserves.

Registered Professional Adjuster:

  • Claims Adjusting Principles and Practices Study: Insurance Carrier Claims Management and Third Party Claims Administration, First & Third Party Claims: Property, General Liability, Automobile Liability & Physical Damage, Workers’ Compensation, Management Liability, Professional Liability, Errors & Omissions Liability, Fiduciary Liability, Surety & Fidelity Bond Claims, Admiralty Law, Marine Employer’s Liability, Protection & Indemnity Claims. The Concept of Indemnity; Wrongful Acts; Fair Claims Settlement Practices and Unfair Claims Settlement Practices.

Cyber Risk Management:

  • Managing Cyber Risk, Cyber Risk Fundamentals, Enterprise Risk Management & Cyber Risk, First-Party Cyber Risk Loss Exposures, Cyber Risk Property Loss Exposures, Business Income Loss Exposures, Customer Notification & Credit Monitoring following a Data Breach, Postbreach Investigation & Regulatory Action, Reputational Risk, Indirect Cyber Risks, Third-Party Cyber Liability Loss Exposures, Customer Data Liability, Network Security & Content Liability, Directors & Officers Cyber Liability Loss Exposures, Errors & Omissions Cyber Liability Loss Exposures, Risk Financing in Cyber Risk Management, Risk Retention & Risk Transfer, Cyber Insurance Products, Cyber Legal Liability, Business Continuity & Cyber Risk, Disaster Recovery Planning, Crisis Communication, Data Breach Preparedness, U.S. Federal & State Cyber Security Legislation & Regulation, Global Cyber Security, Personal Cyber Risk Awareness & Management, Cyber Risk Underwriting, Cyber Risk Issues for Agents & Brokers, Cyber Risk Claims Handling, Stakeholders in Cyber Risk.

Principles of Suretyship:

  • The Role of Suretyship, History of Suretyship, Suretyship, Insurance, and Banking, Nature of Surety Relationship, Surety Underwriting, Surety Legal Remedies, Surety Reinsurance and Co-Suretyship, Contract Surety Bonds, Surety Bond Production, Surety Credit Lines, Bond Underwriting: Commercial Surety and Fidelity, Underwriting Roles and Considerations, Credit Investigations, Credit Laws, Credit Reports, Bond Ratemaking, Suretyship and Insurance, Surety Association of America, Fidelity and Surety Claims Process, Contract Bond Claims, Claim Objectives, Fidelity and Surety Loss Adjusting, Surety Relationships, Professional Ethics, and Ethical Decision Making.

Expert Witness Trial & Deposition Testimony: See Attached


Expert Publications:

  • Property & Casualty Insurance Procurement & Litigation (Ten Recurring Themes Every Lawyer Should Know) published in ten parts by HGExperts.com in October 2012. It has since been published within the Blog Sections of 86 Pillars, LLC, Expert Witness Blog published by JurisPro Expert Witness Directory) and Risk Consulting & Expert Services Expert Thought Blog.
  • Workers’ Compensation Underwriting Philosophy as Partnership Formation published in six parts on Risk Consulting & Expert Services Expert Thought Blog in April 2013 and has since also been published by Expert Witness Blog published by JurisPro Expert Witness Directory).
  • The Insurance Industry’s Imperative Necessity published in April of 2013 on Risk Consulting & Expert Services Expert Thought Blog.
  • Captive Insurance Use by Life Insurance Companies published in June of 2013 on Risk Consulting & Expert Services Expert Thought Blog.
  • Cyber Risk & Insurance (co-authored with Joy M. Gänder) published by the Court Journal of Science & Technology in June 2015.

Consulting Projects:

  • Evaluation & Analysis of a specific insurance and risk management services provider involved with various alternative risk management and financing methods and techniques for an Investment Banking Firm – San Francisco, CA
  • Evaluation & Analysis of a specific insurance and risk management services provider involved with fronting insurance policies for regulatory and compliance purposes for a Hedge Fund – Stamford, CT
  • Evaluation and Analysis of the surety bond market, underwriting criteria and alternatives as respects a particular industry for an Investment Management Firm – New York City, NY
  • Insights into the marketing distribution systems in the insurance industry for a Private Equity Fund – Boise, ID
  • Market & Industry Evaluation of the Third-Party Claims Administrators and Managing General Agents for Management Consulting Firm – Boston, MA
  • Market & Industry Evaluation of Wholesale Insurance Industry for Management Consulting Firm – Boston, MA
  • Evaluation and Analysis of Financial Data Industry firms serving the Property & Casualty Insurance Industry for Private Equity firm – Austin, TX
  • Evaluation and Analysis of trends within the Aggregate/Stop-Loss segment of the Insurance and Reinsurance Industries for Management Firm – New York City, NY
  • Evaluation and Analysis of Legal Insurance for Management Firm – New York City, NY
  • Market & Industry Evaluation of the Third-Party Claims Administration Industry – Boston, MA
  • Insurance Carrier Positioning & Trend Analysis Private Equity Firm – Boston, MA
  • Evaluation of Risk Data & Analytics Products, Services & Providers for a Private Equity Firm – London, UK
  • Evaluation of Agents in Marketing Distribution in the U.S. for Management Consulting Firm – Chicago, IL
  • Commercial Insurance Market and Broker Evaluation and Advise to Private Equity Firm – New York, NY
  • Advice & Due Diligence Study on Risk Management Services Company to Private Equity Firm – Chicago, IL
  • Evaluation of Insurance Industry Underwriting Cycles for an Asset Management Company – New York, NY
  • Evaluation of Insurance Services Provider for Investment Manager – New York, NY
  • Evaluation of Insurance Data Services for Investment Manager – Los Angeles, CA
  • Evaluate and Explain Reasons for Special Flood Hazard Areas for Private Equity Firm – New York, NY
  • Evaluation of Bermuda Reinsurance Market for Private Equity Firm – Boston, MA
  • Market & Industry Evaluation of Managing General Agents for Investment Management Group – Dallas, TX
  • Advice & Due Diligence Study on Wholesale Insurance Provider for Private Equity Firm – Los Angeles, CA
  • Risk Trends study of the Property & Casualty Insurance Industry for Management Consulting Firm – Chicago, IL
  • Evaluation of Insurance Risk Data Analytic Providers for Investment Management Firm – London, UK
  • Evaluation of Insurance Agent Commissions in U.S. for Management Consulting Firm – Boston, MA
  • Insurance Fraud Trends on Insurance Premium Rating to Management Consulting Firm – Philadelphia, PA
  • Analysis of International Claims Adjusting Companies for Investment Management Firm – Verona, Italy
  • Evaluation and Analysis of Captive Insurance Industry to Hedge Fund – San Francisco, CA
  • Analysis of the U.S. Personal Automobile Insurance Industry for Management Consulting Firm – Chicago, IL
  • Market Evaluation & Advise to Investment Banking Firm – New York, NY
  • Insurance Services Purveyor Evaluation Private Equity Firm – Palo Alto, CA
  • Overview of Insurance Marketing Distribution Systems to Executive Management Consultants – Boston, MA
  • Industry Evaluation & Product Development Advice to Management Consultants – Mumbai, India
  • Analysis of Force Placed Insurance Market to Hedge Fund – San Francisco, CA
  • Evaluation of Wholesale Insurance Brokerage Industry to Executive Management Consultants – Boston, MA
  • Evaluation of workers’ compensation services provider to Private Asset Management Firm – Palo Alto, CA
  • Market Trends and the Future of National Brokerage Firms to Mutual Fund Manager – Dover, DE
  • Property Valuation Information Products Evaluation to Investment Management Firm – Englewood Hills, NJ
  • Evaluation of International Claims Efficacy & Reliability for Investment Banking Firm –Greenwich, CT
  • Industry Review & Analysis to Private Equity Firm – San Francisco, CA
  • Insurance & Reinsurance Market Analysis to Hedge Fund – New York, NY
  • Acquisitions Advice to Mutual Fund Manager – Denver, CO
  • Insurance Brokerage Industry & Commissions Overview to Technologies Company – New York, NY
  • Overview of Risk Management & Decision Analytics Investment Management Company – Chicago, IL
  • Wholesale Insurance Industry Overview Security Analysts – New York, NY
  • Broker Evaluation, Analysis & Advice to Mutual Fund Managers – Wilmington, DE
  • Insurance Carrier Financial Analytics to Wealth Management Firm in New York, NY
  • Acquisitions Advice to Mutual Fund Managers –Mumbai, India
  • Risk Management Review to Municipal Government –Thibodaux, LA
  • Industry Evaluation & Investment Advice to Hedge Fund –New York, NY
  • Insurance Market Evaluation, Analysis to Private Equity Firm – Palo Alto, CA
  • Excess & Surplus Insurance Brokerage Overview to Management Consultants – Pittsburg, PA
  • Evaluation of Risk Management Information Technology Products to Asset Management Firm – Boston, MA
  • Product Development & Market Research to Underwriting Management Company – Mobile, AL
  • Analysis of Insurance Pricing Trends to Mutual Fund – Denver, CO

Continuing Professional Education:

 Society of Risk Management Consultants (SRMC) Spring Conference-Nashville, TN – April 20-22, 2017

  • Complex Claim Adjustment Process
  • Cyber Insurance Product Development
  • Enterprise Risk Management & Captive Insurance Companies
  • The Challenges in Surplus Lines Policy Forms
  • Cyber Loss Data Development

American Association of Insurance Management Consultants Annual Conference – Seattle, WA – April 27-29, 2017

  • Industry Commoditization and Disruption: Fact or Fiction?
  • How To Develop an Insurance Expert Witness Practice
  • Using Shareholder Agreements in Agency Succession
  • Cautionary Tales for the Claims Professional
  • Choosing, Carefully, Your 30(b)(6) Witness; An Experts View
  • Ethical Standards in the Insurance Industry

American Bar Association (ABA) Section of Tort, Trial and Practices (TIPS) – Phoenix, AZ – February 23-25, 2017

  • Cyber Liability Insurance
  • American Law Institute’s Restatement of the Law of Liability Insurance
  • Historical Reflection on Coverage Litigation over the past 25 years
  • Claim & Notice Issues Under D&O and E&O Policies
  • Unlocking Mediation with Insurance Coverage
  • Legalized Marijuana: Ethical & Insurance Coverage Implications of Risk & Insurance for Cannabis-related Operations
  • Ethical Considerations in Preparing Expert Witness to Testify at Depositions & Trials in Insurance Coverage Cases
  • Primary versus Excess Insurer Rights and Risks
  • Indemnity versus Insurance: What Remedy Prevails?
  • Discoverability of Communications Between Insurers and Reinsurers
  • Rescission of Insurance Policies
  • The “Occurrence” Issue in Construction Defect Litigation
  • Allocation Jurisdictions and What They Mean for Policyholders and Insurers

Society of Risk Management Consultants (SRMC) Fall Conference –Montreal, Quebec, Canada – October 26-28, 2016

  • Cyber Insurance & Risk Management
  • National Flood Insurance Program
  • Disgorgement Defense
  • Environmental Insurance & Technology
  • Catastrophe Analytics

Society of Risk Management Consultants (SRMC) Spring Conference –Atlanta, GA – April 7-9, 2016

  • Keeping Current with Captives
  • Product Recall Insurance
  • Owner’s Protective Professional Indemnity
  • Risk Analytics

American Bar Association (ABA) Section of Tort, Trial and Practices (TIPS) – Phoenix, AZ – March 17-20, 2016

  • Representing the Carrier Client in the Age of Reptile Advocacy
  • Coverage Attorney as Accomplices in Bad Faith
  • Cyber Liability Insurance Coverage Issues
  • The Producer’s Intriguing Role in Coverage Disputes
  • Latest Developments in E&O Coverage and Claims
  • Mid-Construction Losses: The Intersection of Liability and Builders Risk Coverage
  • Drone Away: Bombs, Photographs, Pizzas, Hearts and Headaches
  • The London Market: Navigating the Underwriting and Claims Process
  • Habitational Mass Torts: A Case Study in Coverage, Litigation and Settlement
  • Insurance Transfer in Asset Deals/Stock Deals
  • Additional Insured Endorsements and Priority of Coverage

Tennessee Captive Insurance Company Conference – Nashville, TN November 17-18, 2015

  • Self-Insured Work Comp Group vs. Group Captive
  • Cyber Risk:  How to Manage, Mitigate and Finance Cyber Liability
  • Securities, Corporate Governance, Legal Issues and Captive Board Membership
  • Managing Both Sides of the Captive Balance Sheet
  • Employee Benefits and Captive Insurance Companies
  • Single Parent Risk Retention Groups
  • Fronting and Reinsurance
  • Federal Captive Taxation

American Bar Association (ABA) Section of Tort, Trial and Practices (TIPS) – Fidelity & Surety Law Committee Conference

Washington, DC – November 4, 2015

  • Crime Policy forms – Old & New
  • Commercial Crime Insurance Marketplace
  • Computer Fraud & Electronic Coverage Insuring Agreements
  • Ownership Provisions & Third-Party Losses
  • High Tech Crimes
  • Employee Dishonesty Claims – Manifest Intent & Theft
  • Loss & Causation
  • Cyber Crime & the Insurance Market
  • Discovery of Loss & Claim Triggers
  • Notice & Proof of Loss
  • Termination & Cancellation
  • Rescission vs Assertion of Defenses
  • Importance of Employee Definition
  • Limits of Liability – Loss Limits & Aggregates
  • Insuring Agreements – Forgery, Alteration & Premises
  • Inventory Exclusions
  • Current Trends in Subrogation
  • Trends in Financial Crimes & High Tech Fraud
  • Claims Litigation & Bad Faith Assertions
  • Claims Attorneys & Consultants

Society of Risk Management Consultants (SRMC) Fall Conference – Newport Beach, CA – October 15-17, 2015

  • Habitational Real Estate and Construction
  • Marine Insurance
  • Information Technology and cyber Security for Small Businesses
  • Global Perspective of Cyber Security
  • New Developments in Cyber Security
  • Employment Law & Employment Practices Liability

The Institutes – Malvern, PA – May 27, 2015

  • Managing Cyber Risk, Certification of Completion

ABA Section of Tort, Trial and Practices Conference – Philadelphia, PA – April 30, 2015

  • Unraveling the Duty to Defend, Reservation of Rights, and Related Coverage Disputes
  • Navigating Extra-Contractual Insurance Claims
  • Maximizing the Benefit of Consultants and Experts & Daubert Issues
  • Cyber Liability: The Silent Threat to Businesses and Law Firms
  • Bridging the Settlement Gap Between Insurers and Insured
  • The Legal, Ethical and Insurance Coverage Issues Involved in Mounting a Defense When One of Your Firm’s Attorneys is Accused of Committing Malpractice

SRMC Spring Conference – New Orleans, LA – March 20-21, 2015

  • Modeling and Analysis of Catastrophic Natural Risks – Earthquake, Windstorm and Flood
  • Disaster Preparedness and Dealing with the BIG ONE
  • The Next Generation of Cyber Security and Risk Management – Beyond The Breach

The Institutes –Malvern, PA – March 6, 2015

  • Principles of Suretyship, Certificate of Completion

ABA TIPS Panel Discussion at Neal, Gerber, Eisenberg Conference Room – Chicago, IL – January 15, 2015

  • Claims Against Lawyers: Insurance Coverage Issues

SRMC Fall Conference – Charleston, SC – October 23 – 24, 2014

  • Trade Credit Risk Management and Insurance – Export / Import Risk Management
  • Employment Practices Liability
  • Social Media
  • ISO form changes on Construction Defect
  • Cyber Security Liability
  • Workers Compensation Analytics Programs

SEAK, Inc. – Cape Cod, MA – September 18 – 19, 2014

  • How To Be An Effective Expert Witness

SRMC Spring Conference – Chicago, IL – May 9 – 10, 2014

  • Construction & Maritime Defense Coverage Issues
  • Insuring Punitive Damages in Excess/Umbrella Insurance Policies
  • Employee Dishonesty/ Employee Theft Claims
  • Forensic Accounting & the Nuances of Manifest Intent, Prior Loss & Prior Insurance Provisions

SRMC Fall Conference 2013 – Charlotte, NC – October 17 – 18, 2013

  • Cyber Risk Assessment
  • Claim Coaching & Coverage Lessons
  • Claims in Litigation
  • Pollution Risk Management
  • Real Estate Executive & Professional Liability

SRMC Spring Conference 2013 – Indianapolis, IN – April 18 – 20, 2013

  • Group Captives
  • Flood Insurance Reform Act; Sandy Repercussions
  • Insurance Coverage Issues Related to Natural Catastrophes
  • Being an Expert Witness

SRMC Fall Conference – Las Vegas, NV – October 19 – 20, 2012

  • Post-Loss Economic Factors in Measuring Business Income Losses
  • Microcaptives
  • Hospitality Loss Prevention & Sustainability Best Practices
  • RIMS Restaurant Industry Survey
  • Flood Risk Management

 Captive Insurance Companies Association Conference – Chicago, IL – September 10 – 11, 2012

  • Multinational Pooling
  • Using Pure Captives for Benefits
  • Using Group Captives, RRGs or Cell Captives to Fund Benefits
  • Post-Retirement Medical Funding

SRMC Spring Conference – Denver, CO – March 22 – 23, 2012

  • Environmental Liability
  • Medical Cost Containment
  • Implementing an Enterprise Risk Management Program
  • Supply Chain Risk Management


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