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BMS Intermediaries
BMS acquires new P&C team in Minneapolis
Minneapolis, MN - BMS announced today that it has acquired a P&C brokerage team based in Minneapolis. The nine-member team, led by widely respected senior brokers Jim Brost and Mike Joyce, will complement the firm's existing activities in London and North America.
"The acquisition of this team boosts our rapidly growing presence in North America and will give us a further strong base in Minneapolis, a major reinsurance hub," said Hugo Crawley, Chairman, BMS Intermediaries.
Jim Brost has over 30 years experience in the P&C market and is recognized as a leading expert in the agricultural treaty industry. He was previously Chief Executive Officer and Agriculture Practice Leader at Cooper Gay Intermediaries. Mr. Brost started his reinsurance career at E. W. Blanch Company in 1975 and co-founded John B. Collins Associates in 1987, where he served as Vice Chairman until joining Cooper Gay Intermediaries in 2005.
Mike Joyce has over 25 years of reinsurance experience producing and placing a wide range of property and casualty business. He was previously Executive Vice President at Cooper Gay Intermediaries. Prior to that position, Mr. Joyce was Senior Vice President and Director managing the largest property & casualty profit center at John B. Collins Associates.
"Jim Brost has been active in the agriculture market for over 30 years. He enjoys an excellent reputation and is highly regarded by the market. Mike Joyce's diversity and background will enhance our P&C operations and like Jim, brings many years of experience and insight. We are delighted to welcome them on board," said Mr. Crawley.
"BMS is an established and fast growing intermediary, which provides our team with an excellent platform", said Mr. Brost. "We look forward to enhancing BMS' business in the Minneapolis market and introducing clients to the BMS group."
Media contact: Beth Jarecki (917) 364-6044
Britt / Paulk Insurance Agency
Britt / Paulk Insurance Agency Announces
Acquisition of Mitchell, York & Cooper, LLC
CARROLLTON, Ga. - Britt / Paulk Insurance Agency, Inc., a privately-held Program Administrator announced today that it has agreed to acquire substantially all of the assets of Mitchell, York & Cooper, LLC, a Florida-based Marine Insurance broker. Financial details of the transaction were not disclosed.
Mitchell, York & Cooper was founded in 1988 and provides quality marine insurance products for marinas, ship yards, marine contractors, cargo, boat dealers, and U.S. longshore and harbor workers through independent agents.
John Paulk, president of Britt / Paulk commented, "This acquisition strengthens our presence in Florida and provides our company with our first entrée into the marine products market. As a company, this is our first acquisition, but, it will certainly not be our last. We intend to continue looking for additional growth opportunities through acquisitions that will fit well with our corporate culture and our long term strategy."
Stephen York, president and one of the original founders of Mitchell, York & Cooper said, "We are delighted to become a part of the Britt / Paulk team. The national distribution channels established by Britt / Paulk and their easy to operate Online Policy Underwriting System (OPUS) will make our marine products accessible to literally, thousands of new agents."
Dene Schoerner, Britt / Paulk's COO, added, "The acquisition of Mitchell, York & Cooper has opened the way for Britt / Paulk to contract with the top carriers of marine products in this country. Steve York's decision to join the Britt / Paulk team is a real bonus. He will continue to head up the Florida operation. With Steve's guidance, we see short and long term opportunities, regionally and nationally, to quickly expand the markets for our new marine products. We are delighted to have a marine products insurance professional with Steve's qualifications and background to join our team."
LMC Capital LLC served as Britt / Paulk's financial advisor in connection with this transaction.
Britt / Paulk is a privately held Program Administrator located in Carrollton, Georgia. The company underwrites Builder's Risk, Equipment, Poultry/Swine Confinement, Self-Storage, Aviation, Ocean Marine Cargo, Forestry Products, Equipment Breakdown, and Worker's Compensation. All programs are admitted with "A" ratings or better. Coverage is provided in all 50 states.
For more information, visit www.BrittPaulk.com.
Tri-City Brokerage - a division of Crump Insurance Services, Inc.
Tri-City Binding Authorities Launches Financial Services Unit
New unit significantly broadens solutions offered
CHICAGO - Tri-City Brokerage, a division of Crump Insurance Services, Inc., the nation's largest insurance wholesaler, announces an expansion of their binding authority group, Tri-City Binding Authorities. The new financial services binding authority provides D&O, E&O, EPLI, Crime and Fiduciary coverage for numerous classes. Target industries include community associations, non-profit organizations and for-profit companies, miscellaneous service providers, property managers, and technology service companies.
Since its inception just over two years ago, Tri-City Binding Authorities has set a new standard for responsiveness, with a unique 10 point service promise. This promise includes benchmarks such as same day call backs, 24 hour turnaround on quotes, and total account solutions. The new capabilities bring an additional benefit via a web-based rating and quoting engine called QUOTEitTM Online. "This unit is the first of its kind, offering nationwide scope, retailer direct access, plus immediate, bindable quotes through our website.
Additional information is available at www.CRUMPins.com and www.BISYSPC.com.
Victor O. Schinnerer & Company, Inc.
Schinnerer Launches Admitted Easy Premises Pollution Liability Insurance Program
ACE USA To Provide Coverage
Chevy Chase, MD - Victor O. Schinnerer & Company, Inc. announces the launch of its new environmental coverage for businesses that may not have obvious environmental risks. This new program, which is offered on an admitted basis, is designed to protect commercial or industrial facilities with potential for pollution related issues. Under the terms of the agreement, ACE USA will provide coverage for this undertaking through ACE American Insurance Company, part of the ACE Group of Companies, for the Easy Premises Pollution Liability Program.
The program features pollution liability protection for gradual as well as sudden and accidental release of pollutants, which includes claims for on-site remediation, and coverage for third-party bodily injury, property damage or remediation costs arising from pollution conditions that also emanate from the insured location. This also includes pollution conditions that may be released during the transportation and disposal of wastes or products.
Companies and organizations that could benefit from this coverage include, but are not limited to, the following: Commercial retail establishments, banks, offices, hospitality, light industrial, warehouses, laboratories/R&D, construction yards, public entities, car and truck dealerships, schools and colleges.
This policy can provide protection when a general liability policy may not. Standard policies may not cover many pollution risks and some even contain a clause that removes all pollution coverage. The admitted policy is available to all brokers and agents through Schinnerer; the application requires minimal information and there are fast turnarounds on quotes. Premiums start at $5,000.
For more information on Premises Pollution Liability, go to: www.Schinnerer.com/EZPPL.html.
Petersen International Underwriters
Petersen International Underwriters announces new enhancements
to their Severance Disability Insurance Plan.
Petersen International Underwriters, Valencia, California, announce new enhancements to their Severance Disability Insurance plan that was originally launched in 1998. The new enhancements provide for higher limits and longer durations.
"The need for employers to provide a continuation of benefits for a deposed employee is not a serious problem because of COBRA and life coverage availability. DI within the scope of severance agreements has always been the problem. It arises when the LTD no longer applies to a person who is no longer on the payroll. The liability then becomes the liability of the former employer to provide the promised disability benefit," explains Mark Petersen, VP of Marketing for Petersen International Underwriters.
Previous severance coverage mandated a co-insurance from the employer, but the new enhancements to the Severance Disability Insurance Plan removes this co-insurance requirement along with the ability to closely replicate the previous LTD plan.
Mark Petersen can be reached by phone at 800-345-8816 or by email at mark@piu.org.
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