USI in the News
USI has been selected as one of eight insurance companies to be included in Insurance Journal’s Charity Issue, which identifies successful volunteer programs held by insurers. During the 20 week days in August, USI employees participated in the “USI Gives Back” campaign to give back to the local communities that USI serves. Over 4,400 USI employees volunteered at animal rescue and no kill shelters; senior centers; women crisis centers; youth and family services; food banks and depositories; homeless rescue missions; and beautification projects across the country. Overall, “USI Gives Back” has helped over 100,000 lives. Click here to read the full article.
USI CEO, Mike Sicard, was interviewed in Business Insurance recently on what the insurance industry is doing to attract its next generation workforce. Only four percent of millennials placed insurance on their work wish list, concerning many as baby boomers head toward retirement and leave a large gap of experienced talent, particularly in distribution. To capture the interest of millennials, all of whom have grown up using the Internet, companies are starting to look at implementing flexible work hours, cutting edge technology and training, as well as fostering an entrepreneurial environment that offers the ability to work remotely. Sicard said that for millennials who give this industry a try, they will find a place that empowers them to “solve some of the most interesting and high-stakes problems for companies and individuals.” To read the full article click here.
As the frequency and complexity of cyber-attacks continue to escalate, industrial companies that rely on automated control and production systems — whether Internet- or software-based — face significantly greater risk of being attacked by hackers. Paul King, USI senior vice president of management professional services (MPS) and cyber leader, outlines four significant cyber events in, “How industrial companies can manage cyber threats,” a byline written by King that appeared as a headline story in PC360 Daily eNews on December 10. A quote from this article also was featured in the eNewsletter’s “Comment of the Day” section, earning additional exposure on this important issue. To read the full article on PC360 click here.
USI Insurance Services (“USI”) is proud to announce that Sandra Usleman, USI’s chief sales officer, has been named a recipient of 914INC/Westchester magazine’s 5th Annual Women in Business Award. This award honors the most enterprising, influential and successful female business leaders in Westchester County, New York. This year’s honorees were announced in 914INC’s Q4 issue, where Usleman is part of the Women in Business cover story. The honorees will be celebrated at a luncheon on Friday, November 20, at the Doubletree by Hilton in Tarrytown, New York. New York State Senator Andrea Stewart-Cousins was the keynote speaker.
As USI’s chief sales officer, Usleman’s responsibilities include leading country-wide sales efforts in property-casualty and employee benefits, using the USI ONE Advantage® approach to delivering client solutions. She also plays a key leadership role in USI’s sales incentive program which recognizes the top sales professionals across the country and spearheads the Fast Start program, a hands-on, high-energy training program for improving sales success. Usleman started at USI in 1997 as director of training and development and worked her way up to operating company president in the Southwest region. Several years later, she was again promoted, this time to a national leadership role as chief sales officer. Outside of the office, Usleman works one-on-one with young women in and outside of the insurance industry who are seeking career and sales advice and coaching.
Michael J. Sicard, USI’s chairman, president and chief executive officer, said: “Sandra’s passion for excellence is unsurpassed, someone who is consistently tenacious and whose work ethic and entrepreneurial spirit has led her to incredible success and our transformation. She embodies all the wonderful things that we have built together as a company and all the amazing things yet to come. I congratulate her on winning this very deserving award, and I am proud to have her as a leader and member of the USI family.”
914INC.’s annual Women in Business Awards pay tribute to a select group of female executives and entrepreneurs who were nominated during a two-month open nomination period. The magazine's editors vet all nominees and choose an elite group of women who have demonstrated a consistent level of success in their respective fields and have made a lasting impact both on the economy and in their communities. The magazine recognizes winners in four categories: entrepreneurs, executives, non-profit leaders, and government leaders. For more information, click here.
About USI Insurance Services
USI is a top 10 insurance brokerage and consulting firm, delivering property and casualty, employee benefits, personal risk and retirement solutions throughout the United States. Headquartered in Valhalla, New York, USI has over $1.0 billion in revenue, more than 4,400 professionals and operates out of nearly 140 local offices serving every state. USI has become a premier middle market insurance brokerage firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary analytics, networked resources and enterprise planning to deliver customized solutions with positive, bottom line impact. The value of USI, and our ability to attract best-in-class industry talent while delivering superior solutions and services to our clients and our communities, is achieved through the collaboration and expertise of our local teams. For more information visit usi.com.
An article written by Brian Dove, USI’s national real estate practice leader, was featured as a slideshow in Property Casualty 360° Daily eNews. The byline, “Four Solutions Impacting Real Estate Risks” addresses real estate risks and how proper execution could save millions of dollars. Solutions included the benefit of removing coinsurance clauses, using modeling to quantify potential risk, eliminating subcontractor warranties and limitations, and applying enhanced vacancy coverage. Read Brian's article here.
USI Insurance Services (“USI”) announced today it acquired Gardner & Associates Enterprises. This 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. Terms of the transaction were not disclosed.
Amy A. Gardner, president of Gardner & Associates Enterprises, said: “From the beginning, our business has been conducted in a professional manner where outstanding customer service is always our mission. We are proud to have built a legacy that is one of consistent quality and superior solutions. With this acquisition, our clients will enjoy an expanded set of measurable and actionable insurance products that are supported by an outstanding network of national and local resources.”
James W. Dunn, USI’s Southeast regional chief executive officer, said: “Gardner & Associates Enterprises is a trusted name throughout the community, and I look forward to continuing to build on that trust. Their approach to insurance is a perfect match with the USI ONE Advantage®, our game-changing platform that integrates proprietary analytics with networked resources to delivering enterprise client solutions. This acquisition is yet another testament to the commitment and investment we are making in the Southeast region, and I look forward to growing our middle market business in this strategic growth marketplace.”
About USI Insurance Services
USI has more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, and is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 8th largest insurance broker of U.S. business1, the 4th largest privately held commercial lines broker in the United States2, and the 12th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 and Best’s Review January 2014 Innovation Showcase. Visit the Company’s website at www.usi.com.
1Business Insurance 2015 100 Largest Brokers of U.S. Business, July 19, 2015
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines (excludes nonstandard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2015, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
Managing the various, often-volatile property and liability risks that commercial real estate owners and managers face daily requires a vigilant risk management strategy that includes frequently evaluating risks and assessing insurance programs to ensure proper coverages are in place. Brian Dove, USI’s national real estate practice leader, recently wrote a byline titled, “Four Strategies to Address Catastrophe Property and Liability Exposures in Real Estate Sector” which appeared in National Real Estate Investor. By following these four strategies, and staying ahead of the curve on the changing risk environment and latest risk management practices, real estate companies can help mitigate financial exposures. Read his article here.
General contractors, subcontractors, owners and other entities involved in the construction industry risk substantial financial loss if they enter into contracts that are not supported by their insurance program. This risk has increased since the Insurance Services Office (ISO) made significant revisions to additional insured endorsement forms in 2013, creating even more unexpected exposures and liabilities. Taking the lead on this issue, John Campbell’s byline in Construction Business Owner (CBO) highlights common challenges and solutions to help general contractors, subcontractors and owners ‘get it right’ when it comes to the complex language associated with additional insured endorsements. John is USI’s construction practice managing partner and president of our wrap-up practice. CBO reaches more than 40,000 construction company owners, president and mangers, providing real-world business management articles. Read the full article here.
USI Chief Sales Officer, Sandra Usleman, was recently interviewed for the 2015 Broker Supplement in Business Insurance in an article, titled, “Move to benefits a natural evolution.” Usleman discusses how having an employee benefits practice enables a brokerage firm to offer more diverse services to clients and that USI has added 72 employee benefits producers to meet the growing benefits demand. Additionally, USI has made investments in technology and expertise, adding compliance attorneys, underwriters, medical directors, pharmacy consultants and benefits resource centers across the country.
USI Insurance Services (“USI”) announced that it acquired the employee benefits business of Benefit Controls of the Carolinas, Inc. This is the first acquisition in North Carolina for USI, extending its presence as the leading middle market insurance brokerage and consulting firm in the Southeast. A leading employee benefits consulting firm, Benefit Controls of the Carolinas, Inc. designs and manages employee benefits and wellness solutions as well as provides human resources consulting for companies of all sizes. This business and its employees will remain in its Charlotte, North Carolina, location. Terms of the transaction were not disclosed.
W. Scott Gantt, RHU, GBA, CEBS, president of Benefit Controls of the Carolinas, Inc. said: “We have a long-standing reputation for helping customers navigate through complex healthcare landscapes, and for delivering a superior employee benefits solution with value-added support. With this acquisition, our clients will benefit from USI’s national market leverage and expanded suite of products and services, while still enjoying the high touch, specialized customer care we have become known for in the Carolinas. We are excited to be joining USI and look forward to playing an important role in growing this marketplace with Jim and his team.”
James W. Dunn, regional chief executive officer for the USI Southeast region, said: “Benefit Controls of the Carolinas, Inc. has long been recognized for providing premier employee benefits, exceptional professional advice and guidance, and outstanding customer service. Their proactive, consultative approach to building long-term relationships aligns perfectly with our game-changing platform known as the USI ONE Advantage®. Our platform integrates business analytics with a networked team of national and local experts and uses an enterprise planning process that generates targeted employee benefit and risk management solutions. This acquisition further strengthens our footprint in the Southeast and we plan to invest heavily and build around Scott’s leadership. I welcome Scott and his talented team to our growing USI family.”
Michael J. Sicard, USI chairman, president and CEO, commented: "We are thrilled to welcome Scott and the entire Benefit Controls team to USI. We look forward to investing and growing in the Carolinas, continuing to serve, support and bring the distinctive USI ONE Advantage® to our clients, associates and communities."
About USI Insurance Services
USI has more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, and is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 8th largest insurance broker of U.S. business1, the 4th largest privately held commercial lines broker in the United States2, and the 12th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 and Best’s Review January 2014 Innovation Showcase. Visit the Company’s website at www.usi.com.
1Business Insurance 2015 100 Largest Brokers of U.S. Business, July 19, 2015
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines (excludes nonstandard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2015, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
Sometimes the most common causes of significant financial losses for manufacturing companies are also the most overlooked risks. From an operational risk standpoint, many risk managers and business owners tend to focus more on external and natural catastrophe perils, ignoring exposures to man-made accidents that also can cause millions of dollars in repair and replacement costs, and lost income. Randy Crawford, USI national industrial practice leader, recently wrote a byline for PC360° that contains four key asset protection strategies that can help industrial companies mitigate financial risks associated with equipment breakdown, inaccurate valuation, law and ordinance costs and flood zone change. Read his story.
USI Southwest senior vice president for corporate risk and governance, Kara Altenbaumer-Price, Esq., moderated panels on “An Industry in Flux: Lessons from the Oil & Gas Industry Sector” in both Dallas and Houston, Texas, with the Professional Liability Underwriting Society Texas Chapter on September 2 and 3. The audience was made up of brokers, carriers, risk managers and attorneys. She also spoke on “Working Effectively With Brokers” at the Counsel on Litigation Management’s Claims College in Philadelphia, Pennsylvania, on September 10. Finally, Altenbaumer-Price was a panelist on the session, “Impact of Legal Developments of Key Securities Class Actions, Corporate Governance and D&O Claims, Including IPO Litigation” at the American Conference Institute’s annual D&O Liability Forum in New York City on September 17, where she spoke to an audience of high-profile defense counsel from around the country.
During the month of August, more than 4,400 employees from USI Insurance Services (“USI”) came together and helped almost 100,000 lives during its second annual USI Gives Back, a nationwide campaign where each of the Company’s more than 140 offices participated in local community service during 20 week days in August.
Employees at USI’s corporate headquarters in Valhalla, New York, celebrated USI Gives Back by packaging 4,000 pounds of rice into 2,000 zip locked bags at the Food Bank for Westchester in Elmsford, New York. Other local volunteerism that took place by USI offices across the country included: numerous animal rescue and no kill shelters; senior centers; women crisis centers; youth and family services; food banks and depositories; homeless rescue missions; and beautification projects. Additionally, USI employees helped such organizations as Abby’s Angels Foundation; ADEC; Catholic Charities; DC Central; El Paso Therapeutic Horsemanship; Fedcap; The Helen Gordon Davis Centre for Women; Houston Community ToolBank; Juliette Fowler Homes; MacDonell Children’s Home; National Center for Missing and Exploited Children; Options for Independence; Skip-A-Long Child Development; Ruth’s Reusable Resources; Walker House; and the YMCA/YWCA – just to name a few.
Michael J. Sicard, USI’s chairman, president and chief executive officer, said: “Last year, USI celebrated its 20th Anniversary with 20 for 20: USI Gives Back. We received so much positive feedback, from both our associates and the people and organizations who were helped, that we decided to make USI Gives Back an annual, month long event celebrated in each of our offices during the month of August. This year’s campaign is, once again, a resounding success, and it’s due largely because of our employees’ passion, generosity and local community spirit. There are many organizations that are in great need of our support and, working together as ONE, I am thrilled to see we are helping to make a difference in the communities who have given so much to us.”
About USI Insurance Services
USI has more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, and is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 8th largest insurance broker of U.S. business1, the 4th largest privately held commercial lines broker in the United States2, and the 12th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 and Best's Review January 2014 Innovation Showcase. Visit the Company’s website at www.usi.com.
1 Business Insurance 2015 100 Largest Brokers of U.S. Business, July 19, 2015
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines (excludes nonstandard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2015, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
USI Insurance Services ("USI") announced that Matthew Wiener, vice president of the White Plains, N.Y., office, has been named a recipient of this year's Business Insurance's 40 Under 40 Awards. He is one of 10 honorees in the Northeast region of the United States to receive this award.
Wiener joined USI in July 2014, and his responsibilities include insurance placement, risk assessment, claims services and contract negotiation for property casualty clients in the real estate, construction and hospitality industries. Known for having a laser focus on client business issues and challenges, Wiener has a strong track record of leveraging the USI ONE Advantage® to pull together measurable insurance programs that have led to positive bottom-line outcomes for clients. Prior to USI, he was a broker with GFI Insurance Services for three years. Wiener received a Bachelor of Arts degree in economics at Boston University in 2008.
James M. Butler, regional chief executive officer for the USI Northeast region, said: "Matt possesses a library of knowledge that he applies in a personal and proactive manner when advising his clients. This consultative approach has resulted in Matt helping his clients make better informed decisions and grow their businesses. He is someone who prides himself on the service he provides and makes it a priority to be available to his clients, regardless of the time or day of the week. Showing how much he cares for his clients’ businesses is what sets him apart, and I am thrilled he is being honored with this well-deserved award."
William Scott, president of the USI White Plains, New York, office, said: "Matt's commitment to excellence makes him a wonderful role model for young professionals in this industry. He works tirelessly to cultivate and deepen relationships within the vertical industries that he focuses on, and he has a great ability to balance the day-to-day critical needs of his clients while managing their longer term growth strategy. Matt has a long and successful career ahead of him at USI, and I congratulate him on receiving this prestigious honor."
In its third year, Business Insurance magazine’s 40 Under 40 program recognizes leadership attributes, client service skills and expertise among retail insurance brokers younger than 40. The program is divided into four regions of the United States with 10 honorees per region. Honorees were selected by a panel of senior editors at Business Insurance based on their ability to demonstrate excellence in providing client service, expertise in their field of operations, and effectiveness in leadership. Profiles of all honorees will be published in the Oct. 12 issue of Business Insurance.
The honorees will be celebrated at four regional receptions hosted by Business Insurance in October. A reception will be held October 13 in Atlanta, Ga.; October 15 in New York, N.Y.; October 20 in Los Angeles, Calif.; and October 22 in Chicago, Ill. For more information on the receptions, visit http://conferences.businessinsurance.com/conference/40-under-40/2015/register.
About USI Insurance Services
USI has more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, and is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 8th largest insurance broker of U.S. business1, the 4th largest privately held commercial lines broker in the United States2, and the 12th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 and Best's Review January 2014 Innovation Showcase. Visit the Company’s website at www.usi.com.
1 Business Insurance 2015 100 Largest Brokers of U.S. Business, July 19, 2015
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines (excludes nonstandard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2015, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
Brian Ball, national vice president of employee benefits strategy, was interviewed by The Self-Insurer magazine on specialty drug management for their October issue. The cost of specialty drugs are skyrocketing and are expected to top $400 billion of the overall U.S. healthcare spend by 2020. This comes at a time when there are no benefit caps under the Affordable Care Act. Ball explains part of the issue is there are no governing body to rule whether “up charges” are excessive. Additionally, pharmacy benefit management (PBM) companies are able to negotiate with drug manufacturers in competitive categories that may not be in the best interest of an employer client or patient. He suggest employers get the best possible price on each drug and to control utilization by using prior authorization, step therapy or alternative scripts to better manage access and utilization of costly medications. Read the entire article here.
USI Insurance Services ("USI") announced that it acquired the property-casualty business of Alexander & Associates Insurance Services, LLC ("Alexander & Associates"). This acquisition reinforces USI's presence as the leading middle market insurance brokerage and consulting firm in Texas, and complements the Company's wide range of personal risk services, commercial property-casualty, employee benefits and retirement consulting offerings. This business and its employees will join USI's El Paso, Texas, office. Terms of the transaction were not disclosed.
John D. Collado, USI’s Southwest regional chief executive officer, said: "Through our acquisition of Alexander & Associates, we have attained an experienced staff that truly understands the construction insurance and bonding market and will help us to extend our reach throughout Texas. In addition, their reputation for using a resource-intensive, consultative planning process to find the shortest path from problem to solution is a perfect complement to the USI ONE Advantage® strategy. I am pleased to welcome Jay and his team to the USI family."
"Combining our P&C practice with USI will enable our clients to benefit from an expanded suite of products and services while maintaining the level of specialized customer care we have become known for throughout Texas. In addition, we will have the opportunity to draw upon USI's networked team of local and national experts who leverage proprietary business analytics to deliver cost-saving risk management programs that will preserve our clients' assets and help to drive future growth," said Jay D. Alexander, Alexander & Associates' president.
About USI Insurance Services
USI has more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, and is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 8th largest insurance broker of U.S. business1, the 4th largest privately held commercial lines broker in the United States2, and the 12th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 and Best's Review January 2014 Innovation Showcase. Visit the Company’s website at www.usi.com.
1 Business Insurance 2015 100 Largest Brokers of U.S. Business, July 19, 2015
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines (excludes nonstandard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
USI Insurance Services ("USI") announced today the closing on the acquisition of First Merchants Insurance Group, a retail property-casualty and employee benefits insurance brokerage operation, from First Merchants Corporation ("First Merchants"). This acquisition further strengthens USI's presence as one of the leading middle market insurance brokerage and consulting firms in the Midwest, and complements the Company's full suite of property-casualty, employee benefits, personal lines, retirement and specialty offerings. In connection with the sale transaction, First Merchants and USI have entered into a strategic marketing agreement to provide First Merchants' clients with continuing access to P&C insurance and employee group benefits products and services.
Commenting on the acquisition, Michael J. Sicard, USI's chairman, president and chief executive officer, said: "We are thrilled to be welcoming Curt Stephenson and the entire team of talented and experienced insurance professionals to USI. We see Indiana as a tremendous place for investment and expansion. We are working closely with the team coming together in this transaction to continue their support and bring enhanced resources, innovations and solutions for our clients through our unique and innovative USI ONE Advantage®."
Michael C. Rechin, president and chief executive officer of First Merchants Corporation, said: "USI is an excellent fit for First Merchants Insurance Group's clients and employees. We share USI's commitment to providing superior performance and expect the synergies created by this acquisition to benefit the clients through broadened expertise in insurance and expanded product offerings. Additionally, the employees of First Merchants Insurance Group have strong industry experience in such markets as education, public entities, construction and not-for-profit and significant capabilities in personal lines, property-casualty and employee benefits, making them a perfect match for USI's client-centric culture at the local level."
About USI Insurance Services
With more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, USI is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker1, the 4th largest privately held commercial lines broker in the United States2, and the 13th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 the last three years and Best's Review January 2014 Innovation Showcase.
1Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines
(excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
USI Insurance Services ("USI") announced today that it has acquired the insurance property-casualty construction and surety business of KORE Group, Inc., dba: Construction Agency Professionals (CAP). This business and its employees will join USI's West Orange, New Jersey, office. Terms of the transaction were not disclosed.CAP is a retail insurance broker focused on providing insurance and surety products directly to construction companies and contractors. This acquisition further strengthens USI's presence as a leading middle market insurance brokerage and consulting firm for the construction industry in the New York metropolitan markets.
CAP is a retail insurance broker focused on providing insurance and surety products directly to construction companies and contractors. This acquisition further strengthens USI's presence as a leading middle market insurance brokerage and consulting firm for the construction industry in the New York metropolitan markets.
"CAP is known for providing top-notch solutions to public and private contractors so they may achieve healthy, sustainable and profitable growth. By joining USI, our clients will enjoy unmatched technical resources along with benefiting from expanded solutions supported by a group of high touch, high service professionals," said Michael S. Culnen, president and chief executive officer of Construction Agency Professionals.
James M. Butler, regional chief executive officer for the USI Northeast region, said: "CAP's talented group of professionals has an impressive track record for growing construction companies, making them a perfect match with our game-changing platform known as the USI ONE Advantage®. This approach integrates business analytics with a networked team of national and local experts using a consultative planning process to generate targeted risk management solutions. I am excited to have CAP join us and welcome them to USI."
About USI Insurance Services
With more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, USI is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker1, the 4th largest privately held commercial lines broker in the United States2, and the 13th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 the last three years and Best's Review January 2014 Innovation Showcase.
About Construction Agency Professionals
Construction Agency Professionals (CAP) is a leading consulting and financial services firm dedicated exclusively to construction contractors. Its resources and support capacities encompass the full range of disciplines needed to enhance relationships with bankers, sureties and other creditors, mitigate risk and achieve continuity and business perpetuation. Since its inception, CAP has successfully placed billions of construction credit needs across America. CAP's team of experienced consultants and advisors provides a disciplined framework for the development and execution of a strategic plan, enabling contractors to achieve profitable growth and long-term sustainability.
1Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines
(excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
USI Insurance Services ("USI") announced that it has acquired the personal risk services business of BBVA Compass Insurance Agency, Inc. These accounts are defined as homeowner, automobile, umbrella and other recreational policies and will be combined into the USI Phoenix operations.
This acquisition further strengthens USI's presence as a leading middle market insurance brokerage and consulting firm throughout Arizona, and complements the Company's wide range of personal risk services, commercial property-casualty, employee benefits and retirement consulting offerings. Terms of the transaction were not disclosed.
"The clients included in this transaction will benefit from USI's experience and tools, receiving quality service and a wide array of customized solutions," said Lorin McMurray, BBVA Compass Insurance Agency president.
Wick Pilcher, USI's operating company president for Arizona, said: "With this acquisition, the business is a perfect match with our approach known as the USI ONE Advantage®. This approach integrates analytics with a networked team of local and national experts using a consultative planning process for the growth and success of our clients and prospects."
About USI Insurance Services
With more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, USI is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker1, the 4th largest privately held commercial lines broker in the United States2, and the 13th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 the last three years and Best's Review January 2014 Innovation Showcase.
About BBVA Compass
BBVA Compass is a Sunbelt-based financial institution that operates 672 branches, including 341 in Texas, 89 in Alabama, 77 in Arizona, 62 in California, 45 in Florida, 38 in Colorado and 20 in New Mexico, and commercial and private client offices throughout the U.S. BBVA Compass ranks among the top 25 largest U.S. commercial banks based on deposit market share and ranks among the largest banks in Alabama (2nd), Texas (4th) and Arizona (5th). BBVA Compass earned the top ranking with customers in American Banker's 2014 annual reputation survey of the top 25 largest U.S. retail banks. It also has been recognized as one of the leading small business lenders by the Small Business Administration and in 2014 ranked 12th nationally in total SBA loan volume. Additional information about BBVA Compass can be found at www.bbvacompass.com, by following @BBVACompassNews on Twitter or visiting newsroom.bbvacompass.com.
1Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines
(excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
Insurance Networking News interviewed USI CIO, Stew Gibson, on the changing nature of distribution and how that’s affected our IT strategy. During part one of this two part interview, Stew discusses how USI has been leveraging workflow and analytics capabilities to meet the demands of an increasing client and employee base while providing competitive differentiation in the marketplace. USI recently won Vertafore’s Agency of the Year award for building an e-delivery platform using Sagitta and WorkSmart. Stew explains how e-delivery is transforming the way carriers and brokers exchange information, resulting in massive savings of personnel time, increased efficiencies and a significant reduction in E&O exposure. Read Stew’s INN interview.
USI Insurance Services ("USI") honored Summit winners across the country during its 4th annual celebration. As a Summit recipient, USI is recognizing the best of the best - over 500 associates were selected for this distinction.
Michael J. Sicard, USI's chairman, president and CEO, said, "It's an incredible honor to have such a wonderful group of Summit winners representing our company. Each day they help to lead and develop our brand as we grow USI into the premier insurance brokerage and consulting firm in the United States. The power of USI, and our ability to bring the best solutions and services to our clients and our communities, comes through the knowledge and experience of great individual associates together as ONE – the USI ONE Advantage®. All of our Summit winners across the country exemplify superior professionalism, a driving passion to succeed and the true spirit of this award, and I am proud to have them as members of the USI family."
The USI ONE Advantage® is a game-changing value proposition that delivers a unique set of enterprise solutions and resources to clients and provides a unique platform and path for the professional development of the Company's associates. USI ONETM is an acronym for Omni, Network, Enterprise, and it represents the three key elements that create the USI ONE Advantage® and set USI apart as the leading middle market risk management firm in the United States.
The USI Summit Awards were created in 2011 as reward and recognition for USI's associates country-wide who serve both internal and external clients. It was the first of its kind at USI and unique for the insurance brokerage industry. The "Summit Experience" includes company-wide recognition, local office celebrations, and a "special" off site day planned for the winners in recognition of how they go above and beyond each day in their jobs. For 2014, USI Summit winners nationwide ranged from one to 43 years of service. The Summit 2014 class of honorees increased by 33 percent over last year and will continue to grow as USI's business expands.
About USI Insurance Services
With more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, USI is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker1, the 4th largest privately held commercial lines broker in the United States2, and the 13th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 the last three years and Best's Review January 2014 Innovation Showcase. Additional information about USI may be found at www.usi.com.
1Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines
(excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
USI Insurance Services ("USI") announced that it was named the Vertafore "Agency of the Year" during NetVU15, the largest technology conference in insurance, held March 26-28, 2015, in Indianapolis, Indiana. The awards are special recognition to customers and partners who display leadership and vision in the industry. USI received this award at a special invitation-only gala in conjunction with an awards ceremony that was presented during the NetVU15 users conference.
USI's project management and implementation teams are "outstanding" according to multiple nominations by Vertafore employees. Mark Sonders, senior vice president of sales and marketing at Vertafore, said: "Stew and his team at USI leveraged a technology platform to act and perform like a technology company. They are blazing new trails to the future. USI is an industry leader, and we're proud they use Vertafore software to build their businesses and communities."
USI has seen massive savings of personnel time, increases in efficiencies, and a significant reduction in E&O exposure due to the leveraging of this technology. One example of this innovation is eDelivery. This was developed over two years ago using Sagitta & WorkSmart, to directly ingest all documents from their top carriers, and route into a workflow without any human intervention. This has led to the elimination of all mail from these carriers, resulting in faster receipt of information, faster servicing time, faster audits, and millions of dollars in savings. The carriers have also seen their costs drop by 73 percent by using this.
Stewart Gibson, USI's senior vice president and chief information officer, said, "We are extremely honored to be named Agency of the Year at this year's NetVU conference. Being selected is an extraordinary testament to our partnership with Vertafore and to USI's commitment to enhancing our technological resources through innovation and investment."
About USI Insurance Services
With more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, USI is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker1, the 4th largest privately held commercial lines broker in the United States2, and the 13th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 the last three years and Best's Review January 2014 Innovation Showcase. Additional information about USI may be found at www.usi.com.
1Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines
(excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
To address ongoing inconsistencies in pricing, deductibles and terms and conditions offered to middle market owners and contractors, USI Insurance Services (“USI”) has launched a Builder’s Risk Program that provides broader coverage for all project types and sizes, and establishes stable capacity for frame and renovation projects, including catastrophic perils.
This competitively-priced program is a better alternative for owners and contractors who rely on their own property program, which typically has limited capacity and control over claims related to construction activities. Underwritten by Allianz and ACE Group, the USI Builder’s Risk Program can lower premiums by eliminating budget markups and empowers the client with the ability to negotiate the appropriate terms and conditions to meet contractual and lender compliance. In addition, the program accelerates the response time during the bidding process and reduces costs on the value of the project through an expedited claim recovery process.
Robert Meyers, USI’s senior vice president of property & casualty, said: “Middle market clients frequently rely on standard builder’s risk coverages when developing a new property or renovating an existing location. This is their path of least resistance, however, inadequate coverage terms and property transfer problems at completion often create unforeseen costs and delays. At USI, we have developed a custom-built program that creates market competition and enables the negotiation of extensive coverage that better matches our client’s project exposures.”
Email John.Campbell@usi.com for more information on this program.
About USI Insurance Services
With more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, USI is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker1, the 4th largest privately held commercial lines broker in the United States2, and the 13th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 the last three years and Best's Review January 2014 Innovation Showcase. Additional information about USI may be found at www.usi.com.
1Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines
(excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014
In the wake of the U.S. Senate passing the Terrorism Risk Insurance Program (TRIA), USI Insurance Services ("USI") announced its Terrorism Facility Solution remains a viable alternative. Unlike the TRIA program, the USI solution is not limited to acts of terrorism certified by the federal government and responds to terrorism events regardless if caused by a foreign national or U.S. citizen. And, whereas the government program will not respond to a terrorism event unless it exceeds $200 million in damage, there is no minimum level for this coverage to respond.
Underwritten by Lloyd's of London, this alternative solution is competitive and available worldwide. Furthermore, it comes with low and flexible deductibles, and is priced individually rather than as a percentage of all-risk premium. To summarize, key features of the program include:
"CAP is known for providing top-notch solutions to public and private contractors so they may achieve healthy, sustainable and profitable growth. By joining USI, our clients will enjoy unmatched technical resources along with benefiting from expanded solutions supported by a group of high touch, high service professionals," said Michael S. Culnen, president and chief executive officer of Construction Agency Professionals.
Email TRIA@usi.affinity.com for more information on this program.
About USI Insurance Services
With more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, USI is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker1, the 4th largest privately held commercial lines broker in the United States2, and the 13th largest insurance brokerage firm in the world3. USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 the last three years and Best's Review January 2014 Innovation Showcase. Additional information about USI may be found at www.usi.com.
1Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines
(excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014