STI-SPFA presents Hall of Fame Award

Steel Tank Institute-Steel Plate Fabricator Association (STI-SPFA), Lake Zurich, Ill., has honored Brian Donovan, president of STICO Mutual Insurance Co., with its Hall of Fame Award in recognition of his outstanding contributions to STI/SPFA.

Donovan was the Steel Tank Institute's (now STI-SPFA) executive vice president from 1982 to 1990. During his tenure, in addition to managing the organization, he worked closely with the EPA and state regulators to ensure appropriate regulation of steel tanks.

In the mid-1980s, steel tank manufacturers grew concerned about insuring their products for pollution liability. Donovan researched insurance structures to manage this challenge, and 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.