Experience, vision, and dedication to insure our future.
Gary Boe is the current President of the Board of Trustees for Flathead Electric Cooperative, Montana’s largest electric cooperative serving over 57,000 members in Northwest Montana. With an extensive background in insurance and a deep understanding of the unique challenges faced by electric cooperatives, Gary is committed to ensuring sound insurance practices and affordable coverage options for our industry.
My mission is to keep insurance affordable, advocate for the unique needs of electric cooperatives, and expand wildfire coverage. Together, we can secure a bright and secure future for our cooperatives and the communities we serve. Thank you for your time and consideration!
Why Support Gary Boe?
Gary brings a wealth of experience in the insurance industry. He understands the critical role insurance plays in the operations of electric cooperatives. Gary is knowledgeable about Flathead Electric Cooperative’s lines of coverage through Federated and actively stays informed of Federated’s resources and current events. His past industry experience includes:
Serving as the Investment and Insurance Officer for Missoula County government where he:
– created the first self-funded health insurance plan in the western United States. After he completed the actuarial work, this plan was submitted to and accepted by Lloyds of London for reinsurance (which is a strategy used by insurance companies, including Federated, to reduce risk by covering high-dollar claims). The plan’s claims processing and reinsurance methodology set the stage for the creation of Intermountain Administrators, which later became Allegiance Benefit Plan Management, Inc. a highly successful venture headquartered in Missoula, MT which is now owned by Cigna and traded on the New York Stock Exchange.
– was responsible for purchasing a large, diverse portfolio of commercial insurance.
Holding a license in Alaska to sell all forms of insurance, including annuities
Understands Industry needs
Gary recognizes the need for specialized coverage options to protect against power outages, infrastructure damage, and the increasing threat of wildfires. He will work tirelessly to negotiate favorable insurance terms and explore cost-saving measures for the unique needs of electric cooperatives.
Passion for Expanding Wildfire Coverage
Gary is passionate about expanding wildfire coverage, given the significant threat wildfires pose to our communities and cooperatives. He understands the challenges insurers face in accurately assessing and pricing wildfire risks, and he will advocate for comprehensive coverage options tailored to the unique vulnerabilities of electric infrastructure.
Collaborative Approach
Addressing insurance challenges requires close collaboration with utilities, leveraging new data and technology, and fostering strong partnerships with reinsurers. Gary is committed to working with experts and stakeholders to develop comprehensive wildfire coverage options and ensure capacity to cover potential losses.
Additional Credentials and Experience
Appointed to the Flathead Electric Cooperative Board of Trustees in 2016, Gary quickly moved to the Executive Committee and is currently serving his second year as President. Completing the Director Gold Credential Program through NRECA further equipped Gary with the necessary skills and knowledge to serve on the board of a respected organization like Federated Rural Electric Cooperative Insurance Exchange.
Gary was recruited by the Board of Directors of Missoula Federal Credit Union (another member-owned cooperative) to be appointed Treasurer to help with financial problems. During his 24-year tenure on the Board, the credit union prospered from $3.5 million in assets and one office to the second-largest credit union in Montana with $600 million in assets and six offices. Gary is credited with saving the credit union, which is still operating today as Clearwater Credit Union. Gary appreciates the expertise he gained in governance, risk management, and strategic planning through this experience.
Serving as a board member of the Missoula County Airport Authority further contributed to Gary’s understanding of the complexities of managing critical infrastructure and mitigating associated risks.
Being commissioned as an Officer in the U.S. Navy enhanced Gary’s leadership skills and instilled in him a sense of duty, discipline, and commitment to excellence.
Gary holds an M.B.A. and a Bachelor of Science in Finance from the University of Montana, providing a solid foundation in business and financial management.
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Gary was raised on a ranch in Big Timber and has a deep-rooted understanding of the cooperative business model, influenced by his family background. His connection to cooperative values can be traced back to his Norwegian immigrant grandparents, who ventured to Montana and established their homesteads. His family’s bond with their Norwegian cousins remains strong, with some of them actively contributing to electric cooperatives in Norway. One cousin serves as an IT manager, while another relative holds a board of trustees position. Through these family ties and shared experiences, Gary’s commitment to cooperative principles has been further nurtured, fueling his drive to bring positive change to our industry.
Those who have worked professionally with Gary will tell you that his congenial personality will foster positive relationships and help create an environment for productive discussions and effective decision-making.
Endorsements
Montana Electric Cooperatives’ Association offers their full endorsement to Gary Boe as the Region 9 Director candidate. Gary’s unwavering commitment to our industry and his extensive knowledge of both insurance and electric cooperatives make him an outstanding choice. His leadership and dedication have consistently impressed us. I encourage all members to stand behind Gary Boe, a candidate who truly embodies the values and principles of electric cooperatives.
As a trustee, Gary advocates for fiscal conservatism, low electric rates, and ensuring that Flathead Electric keeps up with changes in technology. His extensive insurance background has been valuable to our board, and would further contribute to our industry at Federated Rural Electric Exchange. It is with great pleasure that I ask for your vote for Gary Boe.