Brian Donovan, President, STICO Mutual Insurance Co., was honored with the Steel Tank Institute-Steel Plate Fabricator Association’s (STI-SPFA) Hall of Fame Award on April 25 at the organization’s Annual Meeting in Hilton Head, South Carolina.
Donovan received the Hall of Fame Award in recognition of his outstanding contributions to STI/SPFA. Nominations for the honor are made and affirmed by the Board of Directors.
Brian Donovan was the Steel Tank Institute’s (now STI-SPFA) executive vice president from 1982-1990. During his tenure, in addition to managing the organization, he worked closely with the Environmental Protection Agency and state regulators to ensure appropriate regulation of steel tanks.
In the mid-1980’s, steel tank manufacturers grew concerned about insuring their products for pollution liability. Donovan researched insurance structures to manage this challenge and as a result, the STI membership approved formation of a captive insurance company to provide pollution liability insurance to its members and manage its existing tank warranty program. The Steel Tank Insurance Company (STICO) was formed in July 1988 and Donovan was named and remains president.
Over the past thirty years, Donovan has served as chief executive officer or on the boards of numerous organizations in the petroleum equipment and storage tank industry. Since 1990, he has focused primarily on risk management and risk control in petroleum storage systems, investigating or managing claims or incidents involving alleged petroleum equipment system failures. He also serves as an expert witness in matters involving petroleum storage system failures.