USI Insurance Services (USI) announced its acquisition of Gardner & Associates Enterprises. The acquisition further strengthens USI's presence as a leading middle market insurance brokerage and consulting firm in the Southeast region, and complements the company's wide range of commercial property-casualty, employee benefits, personal risk services and retirement consulting offerings.
The Charles L. Crane Agency (Crane) celebrated its 130th anniversary in September with a celebration at Ballpark Village near Busch Stadium, home of the St. Louis Baseball Cardinals. Downtown St. Louis has been "home" to Crane since it was founded in 1885 by Charles Linton Crane, the son of a steamboat captain. For the past 130 years, the company has remained a strong supporter of the city of St Louis. With more than 250 employees and brokers, the Crane Agency recently ranked in the Top 50 of the largest, privately-held insurance agencies in the U.S., and remains the oldest independent agency west of the Mississippi River. Crane represents all major property and casualty insurance companies, is licensed in all 50 states, and has more than 50,000 clients locally, regionally and nationally.
Robert Bowers, National Claims Leader, Westfield Insurance, will speak at the Claims and Litigation Management Alliance's 2015 Litigation Management Institute. The conference will be hosted at Columbia Law School in New York City from Oct. 22-25, where Bowers will cover the topic of Resolution Strategies. Having 28 years of insurance industry expertise, Bowers has held a variety of operational, leadership, executive and change management roles throughout his career at Westfield. In his role as National Claims Leader, Bowers and his team are responsible for the strategic and operational results of the claims department. Most recently, he held the role of Claims Strategy Leader and was responsible for the development and deployment of Westfield's multi-year claims transformation initiatives, focused on organizational, customer, analytical and data advancements.
Nassau Reinsurance Group (Nassau) announced that it has entered into a definitive agreement to acquire Universal American Corp.'s (Universal American) Traditional Insurance business. The transaction is expected to close in early 2016. The Traditional Insurance business includes Universal American subsidiaries, Constitution Life Insurance Company and The Pyramid Life Insurance Company, as well as a portion of business written by American Progressive Life & Health Insurance Company of New York. Under the terms of the agreement, Nassau will acquire, in an all-cash transaction, all outstanding shares of the Constitution Life and Pyramid businesses, and the remaining portion of the Traditional Insurance business at American Progressive, for approximately $43 million, subject to purchase price adjustments, based on capital and surplus of $68.5 million. In addition, upon closing, Nassau will fund $20 million in equity capital to support the transaction and strengthen the business moving forward. The transaction is subject to customary closing conditions and regulatory approvals. Upon closing, the Traditional Insurance business, which has approximately 30 employees, will become a privately held, wholly owned subsidiary of Nassau. The Traditional Insurance business will continue to be led by the existing management team and will continue to operate from its offices in Lake Mary, Florida.
The independent insurance agents' association in Vermont is the newest sponsor of the American Insurance Marketing & Sales (AIMS) Society's Certified Professional Insurance Agent (CPIA) professional designation program. The agency was required to complete a series of Insurance Success Seminars in order to earning the CPIA designation. The three-day-long CE-qualified CPIA workshops teach practical techniques for use before, during and after a sale. It is designed for anyone with customer interface, particularly producers, sales managers, account managers, service staff and company marketing representatives. The Vermont Insurance Agents Association will offer the Insurance Success Seminars for students from Vermont and other states in 2015: October 8 (CPIA 1 in Montpelier, Vt.); October 22 (CPIA 2 in Montpelier, Vt.); and October 29 (CPIA 3 in Montpelier, Vt.). Students are encouraged to complete the sessions in consecutive order (i.e. CPIA 1, then CPIA 2, and then CPIA 3,) although that is not required.
RMS, the world's leading catastrophe risk management firm announced it has acquired HWind Scientific LLC (HWS), the leading real-time hurricane-impact data service. The acquisition marks the commitment by RMS to continue advancing the industry's understanding and management of hurricane risk. RMS will offer HWS products, including the leading H*Wind data, as part of its hurricane model suite, further enhancing the company's ability to rapidly deliver scientifically robust real-time wind-field and post-landfall impact analysis for North Atlantic hurricanes to its clients. Dr. Mark Powell, inventor of the H*Wind methodology and founder of HWind Scientific, has joined RMS as vice president, model development. He is joined by his team, who will continue to support the H*Wind products and services, as well as lead the integration of the HWS products into the RMS modeling suite.
The Mechanic Group has dedicated more than 25 years of service to private security, investigation, alarm and background screening insureds, offering Commercial Umbrella/Excess Liability Insurance for background screening firms. Underwritten by highly rated A.M. Best carrier, the program offers plan enhancements including, "A" rated A.M. Best rated carrier, admitted carrier, and follow form coverage.
Submission requirements include:
- Accord Commercial and Umbrella Application
- The Mechanic Group Commercial Liability Application
- Five Year Currently Valued Loss Runs for:
- Commercial Liability
- Auto Liability (if Umbrella is desired)
- Auto Schedule and Dec. Page (if Umbrella is required)
- Minimum limits of $1 million on underlying policies
Visit The Mechanic Group for more details.
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