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Chairman of the board, Stephens is also the founder and former president and CEO of RLI Corp. He started RLI Insurance Company in 1960 in response to the high cost of replacing lost or damaged contact lenses. The success of replacement lens insurance led him to initiate and acquire a number of other businesses which are current RLI Corp. operations. Before starting RLI, Stephens was a vice president at H. O. Stephens & Sons, Inc., a family-owned insurance concern. He spent two years in the U.S. Army as a 1st Lieutenant in the infantry.
An acknowledged expert on insurance matters, Stephens is the former president of the National Society of Chartered Property and Casualty Underwriters. He serves on the board of directors of a number of organizations.
He received his undergraduate degree in insurance from University of Wisconsin in 1955 and earned his CPCU (Chartered Property and Casualty Underwriter) designation in 1960.
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