IMS Insurance To Open In Houston

IMS Insurance To Open In Houston

By Mark E. Ruquet

NU Online News Service, April 25, 3:48 p.m. EST?Insurance Market Solutions (IMS) announced it will be opening its doors within two months in Houston as a new player in the wholesale brokerage business.[@@]

The new operation is headed by Lawrence Mennes and Stephen Vallender, both experienced insurance executives who most recently worked for Dallas-based U.S. Risk Insurance Group, a managing general agency and surplus lines broker, in its Houston office.

IMS will be a subsidiary of Burnett Holdings, said John Burke, president of the New Orleans-based managing general agent.

He said Mr. Mennes and Mr. Vallender are working to complete company appointments, licensing and setting up required office space and systems. The operations should be up and running in the next 30 to 60 days.

IMS will be an all-lines commercial excess and surplus lines brokerage firm accepting business from a broad range of retail agents and brokers throughout the U.S., said Mr. Burke. The wholesaler will accept all types of property, casualty and professional coverage ranging from large- to medium-sized accounts. IMS will also accept small-account program business arrangements.

He said the initial marketing will be in Texas and the surrounding states, but IMS will accept any business throughout the U.S. Long-range plans call for expansion to other states "as market conditions dictate," he added.

While at U.S. Risk, Mr. Mennes was executive vice president and head of the Houston office. Mr. Vallender was a vice president in the office.

Both have made their careers in the E&S field, beginning in the early 1980's.