USI in the News
Robert Meyers, USI senior vice president, property-casualty leader, offered his insights on how, in an increasingly competitive field, data holds the key for insurers looking to make the most of this current, favorable market. Rob cites using analytics to determine retentions, designing the proper programs and knowing which form and coverage improvements should be leveraged are critical factors for a client prior to a submission. The recent acquisition of Ball Peoples and USI ONE Advantage® also were mentioned in the Insurance Business America article as strategic tactics that are helping to set a new standard in the industry and are having a positive effect on the way clients do business. Read the full article here.
USI Insurance Services (“USI”) announced today it has acquired Ball Peoples, an employee benefits advisory firm headquartered in Austin, Texas. Since 1975, Ball Peoples has been providing employee benefits for clients throughout Central Texas and across the Southwest. The employees will remain at their Austin location. Terms of the transaction were not disclosed.
John D. Collado, USI Southwest regional chief executive officer, said: "This acquisition further strengthens our footprint as one of the top three retail employee benefits insurance brokerage firms in Texas, and increases our ability to deliver our clients a powerful arsenal of employee benefits services and solutions. The talented staff at Ball Peoples has a laser focus on helping organizations build a culture committed to employee benefits. This client centric approach closely aligns with the USI ONE Advantage®, which is setting a new standard for customized risk management and benefit programs that generate positive economic impact for clients. Tom, Danny and their team will play an important role to further our employee benefits practice throughout the Southwest region, and we are excited to have them join the USI family."
Thomas H. Ball III, co-owner, Ball Peoples, said: "For 42 years, our strategy has been based on a high-touch, service driven model where relationships matter and best in class solutions are delivered. Our clients will continue to benefit from this methodology, but now they can tap into USI’s robust products that, in addition to employee benefits, include property-casualty, retirement consulting and personal risk."
Daniel L. Peoples, co-owner, Ball Peoples, said: "Being able to provide our clients with quality advice, technology, education and training, along with our ability to quickly adapt to an ever changing healthcare landscape, is what differentiates us from our competitors. By joining forces with a unique industry leader like USI, our existing clients can leverage the USI ONE Advantage® platform to enjoy an expanded suite of insurance solutions and services, and new business opportunities can be cultivated."
Pascal Ray, USI senior vice president, marine & energy programs manager, is featured in a cover story appearing in the December issue of National Underwriter. The article, “Power Play: Energy Market Update,” addresses how exposures in some sectors may be greater than ever, but opportunity remains for insurers willing to grow. In the interview, Pascal predicts the energy industry will see a wave of claims in the near future due to deferred and delayed maintenance, upgrades and integrity testing of a company’s crucial assets of wells, pipelines and refineries. Cyber and an aging workforce are additional risks affecting the industry, meanwhile renewable energy sources continue to grow. Click here to read Pascal’s interview, which is on pages 20-25.
National Underwriter reprinted an article written by Rob Meyers, USI senior vice president, property-casualty leader, on natural disasters. This story first appeared on National Underwriter’s PC360.com website on October 27. In the byline, Rob recommends seven tips that can save businesses from experiencing significant financial hardship or worse. For example, creating an emergency response team, working with local government officials in advance, maintaining emergency equipment and reinforcing workplace safety are just several tips that Rob addresses. Read Rob’s story on pages 30-31 of this publication’s December issue.
Jeffrey Haynes, USI senior vice president and crane and rigging practice leader, was interviewed about the challenges associated with New York City’s crawler crane requirements. The Department of Buildings of the City of New York’s (DOB) recent move to better regulate crawler crane operations in New York City has led to concern for some in the industry that a stricter regulatory environment could make a difficult coverage area even more challenging for insurers. Jeff said the new regulation could “theoretically improve underwriting but administrative costs will go up as well.” The lawsuit, filed in the Supreme Court of the State of New York by the Building Trades Employers’ Association on behalf of its members, comes after the DOB issued a June 2016 Commissioner’s Order containing new requirements for crawler cranes. Read the entire article here.
USI was named a 2016 Elite Agency by Insurance Business America. The company is one of 50 independent agencies that is being recognized for outperforming in today's competitive marketplace and for being a leader in terms of revenue, best practices and community involvement. Access the issue here.
Cyber risk is not decreasing, it’s increasing and morphing, says Paul King, senior vice president of USI’s MPS group and national cyber leader. Tackling cyber risk is an ongoing process that requires engagement at all levels of an enterprise, and all companies need to be properly prepared. Paul’s byline, “The Right Cyber Coverage Can Protect Your Business from Financial Ruin,” which is featured in the Insurance Journal, explores different types of cyberattacks and recent reports citing how companies, with a particular emphasis on industrial and manufacturing, are unprepared. He explains why it’s important to take a proactive stance regarding cyber security and what steps companies can take to create a cyberattack response strategy to protect their businesses. Read Paul’s exclusive article here.
We are very excited to announce the launch of the USI ONE Advantage video – a dynamic, four-minute presentation capturing our fundamentally different approach that is setting a new standard and creating a new language for how solutions and services are innovated and understood by our customers. This video is another important tool that communicates to our clients and communities that USI has the right plan and is the right partner to protect their most valuable assets. The USI ONE Advantage® video is viewable on the home page of our Internet site – usi.com – and on the USI ONE Advantage® webpage. Please view in Chrome for best viewing experience and speakers are required. TV monitors in USI lobbies across the country also will be updated to include this new video.
USI Insurance Services ("USI") has completed its transaction to purchase Johnson & Bryan, a leading retail property-casualty and employee benefits insurance brokerage firm based in Atlanta, Georgia. This transaction will expand USI's footprint into a new city and market where USI is looking to invest and grow. Terms of the transaction were not disclosed.
Michael J. Sicard, chairman and chief executive officer of USI, said: "We are thrilled to welcome Robert and his team to our growing USI family. We are excited to establish a great presence in Atlanta, and are committed to continue our investment and growth in Georgia alongside our exceptional team in Savannah. As we continue to invest in new markets that strengthen our business, Johnson & Bryan’s customer-centric culture and reputation for delivering superior risk management services perfectly complement the USI ONE Advantage® platform. This move enables us to leverage our combined strengths to provide an expanded suite of solutions and support that will enhance the experience of existing and future clients, and their communities.”
Robert C. Wynne, president of Johnson & Bryan Inc., said: “In joining forces with USI, our customers will not only continue to enjoy locally coordinated insurance solutions, but can tap into game-changing analytics through USI’s Omni knowledge engine, a national network of technical resources and a robust enterprise planning process. I look forward to working with Mike and his team in helping us grow our marketshare in Atlanta based upon our mutual principles of collaboration, excellence, accountability and social corporate responsibility.”
About USI
USI is a leading local and national 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, employs more than 4,400 professionals and operates out of 140 local offices serving every state. USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary and innovative client solutions, networked local resources and enterprise-wide collaboration to deliver customized results with positive, bottom line impact. USI attracts best-in-class industry talent with a long history of deep and continuing investment in our local communities. For more information visit usi.com.
Social media can assist insurance brokerage firms and agencies at every stage of the sales cycle. According to Search Engine Journal, 93 percent of marketers use social media for business and 70 percent of brands have a Google page. Like it or not, this type of communication is playing an increasingly important role when it comes to doing business. Sean Hood, USI’s president of the New Hampshire office, wrote a byline for the New England Standard on how to build a social media presence in the insurance industry. His tips include joining and participating in industry-related groups, alumni connections and community service forums through such websites as LinkedIn. Sean also demonstrates how social media can be helpful in securing useful information on prospect companies and contacts and how to leverage social media to showcase your expertise on issues in the marketplace. Read Sean’s article here.
USI Insurance Services (“USI”) reported more than 250,000 lives were positively impacted across the United States during its 3rd annual USI Gives Back local community service initiative. USI Gives Back is an award winning corporate social responsibility program, where this year each of USI’s 140 offices participated in more than 180 events, totaling 15,777 hours of volunteerism.
For the first time, USI added special office recognition based on several categories: highest total participation (based on number of hours multiplied by number of employees); offices that helped the most people; offices that help the most animals; and offices with the most unique charitable event. USI is pleased to announce the results of the following office award winners:
Category 1 – Offices < 25 people with the highest Total Participation Index
Award Winners: Destrehan, Houma and Metairie
Category 2 – Offices > 25 people with the highest Total Participation Index
Award Winners: Cincinnati, Louisville and Seattle
Category 3 – Offices that helped the most animals
Award Winners: Dallas and Terre Haute
Category 4 – Offices that helped the most people
Award Winners: Birmingham, Charlotte and Philadelphia
Category 5 – Offices with the most unique charity
Award Winners: El Paso and Knoxville
Michael J. Sicard, chairman and chief executive officer of USI, said: "USI Gives Back is a unique demonstration of the spirit, character and mission of USI. Since 2014, thousands of USI associates have helped hundreds of thousands of lives and performed tens of thousands of hours of community service. One of our core principles is to foster a culture of corporate responsibility, and I am extremely proud of the community service work we do all year long. Congratulations to all of our offices for giving their time, talent and treasure, and for supporting the type of values that make USI a special place to work.”
About USI
USI is a leading local and national 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, employs more than 4,400 professionals and operates out of 140 local offices serving every state. USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary analytics, networked resources and enterprise planning to create customized solutions with positive, bottom line impact. The value of USI, and our ability to attract best-in-class industry talent while providing 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 www.usi.com.
Every year tens of thousands of businesses are affected by natural disasters and this year was no exception. Although the industry expects the fallout from Hurricane Matthew to be much less than initially thought, it is estimated that more than one million structures have been either damaged or destroyed, and tens of thousands of employees are temporarily out of work. Robert Meyers, USI senior vice president, property-casualty leader, recently wrote an exclusive two part series of articles for National Underwriter PC360°. Part one is titled, “Five Tips to Get Your Business Up and Running After a Natural Disaster,” and includes tips businesses can do to evaluate potential damage and get their operations back on track sooner rather than later. Click here to read part one of Rob’s byline and stay tuned for part two!
Over the past decade, thousands of United States property owners have experienced the devastating consequences of such natural catastrophes as flood, fire, earthquake, wild fires and windstorm. In 2015 alone, there were 10 weather and climate disaster events with losses exceeding $1 billion each across the United States. These events included a drought, flooding, severe storms, wildfire and a winter storm, according to the National Oceanic and Atmospheric Administration. To help clients get ready for the next big storm, Jim Kane, USI senior vice president, personal risk, wrote a byline that was featured in National Underwriter PC360°. Included was information on: assessing the damage safely; using a retrofit for hurricane mitigation, building a safe haven; proactively evaluating the vulnerability of secondary or seasonal homes; reviewing flood insurance coverage; and following the changing flood maps. Read Jim’s article here.
As Hurricane Matthew – the most powerful storm since 2004 – wreaks havoc across southeastern United States, USI is asking clients across the region to take to every precaution, as advised by local and state authorities, to protect themselves, their families and properties. USI has compiled a series of critical resources to help individuals and businesses prepare for the storm and its aftermath. Visit www.usi.com/hurricanematthew for critical recommendations along with links to additional information and resources.
Zurich Insurance was proud to host over 60 colleagues on October 6, in Dallas, Texas, for another chapter of its 2016 Executive Roundtable series. Hosted by Bryan Salvatore, Zurich North America president of specialty products, the program consisted of an update on cyber insurance and an executive panel featuring Zurich leaders and select broker partners that included Paul King, USI senior vice president and national MPS director. The panel discussed a wide range of topics including cyber liability, management liability and the challenges facing insurance carriers, brokers and buyers.
In today’s litigious environment, claims against construction companies are inevitable, and off-the-shelf solutions to manage liability risks are too often inadequate. Take, for instance, lawsuits alleging shoddy workmanship against a contractor or subcontractor. They are among the most common construction claim types and can be unusually complex, given the numerous parties typically involved in a project. Construction defect claims are compounded by the fact that not all are covered by insurance depending on the carrier and the applicable state statutes. Additionally, when it is not clear whether the damage was due to work product or consequential damage – a disagreement can occur that often results in a protracted and costly litigation nightmare. This article outlines four tactics construction companies can take to reduce the cost of claims. Written by John Campbell, USI construction practice managing partner, they include: understanding your company’s claims history; closing claims quickly; screening employees before hiring; and keeping worker’s compensation in check.
USI regional chief executive officer for the Midwest, Tom Cassady, was interviewed by Mergermarket, the leading provider of forward-looking M&A intelligence and data to M&A professionals and corporates around the world. In this article, Tom discusses USI’s plans for growing its footprint in the Midwest as well as new markets of interest. He explains why USI is an ideal buyer for bank assets and our expertise in transferring bank-owned agencies over to USI’s IT platform quickly. Click here to read his interview.
USI Insurance Services ("USI") has entered into an agreement in principle to acquire Johnson & Bryan (“Johnson & Bryan”). Johnson & Bryan, a leading retail property-casualty and employee benefits insurance brokerage firm based in Atlanta, Georgia, will expand USI's footprint into a new city and market where USI is looking to invest and grow. All employees at Johnson & Bryan will be offered employment by USI. The parties expect to reach a definitive agreement and close the transaction early 4th quarter of 2016. Terms of the agreement in principle were not disclosed.
Michael J. Sicard, chairman and chief executive officer of USI, said: "We are thrilled to welcome Johnson & Bryan, Robert and the entire team to USI. Johnson & Bryan has a long history of exceptional professionalism with tremendous people who are dedicated to helping businesses thrive. Their strong customer and community ties will play an important role in helping us to grow our presence in Atlanta and throughout the southeast, and we look forward to continuing their long-standing tradition of always going the extra mile and custom-tailoring an approach to every risk.”
Robert C. Wynne, president of Johnson & Bryan Inc., said: “Collaboration is the cornerstone of our business and the fuel that powers our engine at Johnson & Bryan. By partnering with USI, we will continue to provide the local, individual attention our clients have come to expect, with the benefit of expanded solutions and the ability to leverage USI’s networked technical resources and strategic enterprise planning. We are excited to be joining USI and look forward to continuing to grow our presence in the Atlanta market.”
About Johnson & Bryan
Johnson & Bryan is a tight-knit team of Atlanta insurance professionals dedicated to helping businesses thrive. Johnson & Bryan has been serving the Atlanta community since 1931 with a myriad of insurance and risk management services for businesses and individuals alike. From multi-national corporations to sole proprietors, Johnson & Bryan designs business insurance and employee benefits plans that work.
Paul King, USI senior vice president and national MPS director, was interviewed recently by Risk & Insurance on how high net worth board members of non-profit organizations are targets for lawsuits. While many organizations have commercial and directors and officers (D&O) policies, board members may be opening up themselves unknowingly to employment practices and personal liability risks related to their operations. Paul said many small non-profits “aren’t very sophisticated” when it comes to understanding risk and complex compliance issues. Because of this, they easily could get caught in the maze of rules and regulations, leading to big exposures and D&O claims. He goes on to say that claims related to cyber attacks and data breaches are another growing liability risk for directors, and more due diligence needs to be made. Read the full interview here.
As 401(k) plans become more technical, with many diverse investment options and administration strategies, finding top-notch service at modest expense can be a challenge for some plan sponsors. This is particularly true for sponsors of 401(k) plans administered by various providers as part of an "unbundled" strategy, where for example, changing investment options or locating a single point of contact can be a complex exercise. Large companies with dedicated benefits staff and sizable budgets can afford to hire outside advisers to deal with these challenges but, for small to mid-size companies, it can leave them adrift and overwhelmed. Common concerns companies have about unbundled programs include: cumbersome administration; high investment costs; an inability of highly compensated employees ("HCEs") to maximize their contributions; frequent plan processing errors; and poorly conducted compliance testing. Chris Martin, senior vice president of USI Consulting Group, addresses these concerns in a byline he wrote for benefitsPRO, and how companies are using bundled solutions to keep their plan administration simple and affordable while also fulfilling their fiduciary responsibilities. Read Chris' article here.
Sandra Usleman, USI chief sales officer, was featured in 914INC. magazine’s “Advice” issue. In the cover story, “35 Business Tips You Need Right Now” local entrepreneurs, thought leaders and executives share their best advice on all things business. Sandra, a recipient of Westchester Magazine’s 2015 Women in Business Award, wrote a short piece on practical tips employers and business owners can use for instilling great sales abilities in their employees. Click here to read the article. Westchester Magazine and 914INC. are published by Today Media, a multi-platform communications company reaching more than 700,000 readers each month.
In the war against cybercrime, human resource professionals are being asked to join their companies’ cyber defense as “boots on the ground,” at the front lines. The reason: HR is home to valuable personal and corporate data, systems and processes that cybercriminals target day in, day out. Paul King, senior vice president and USI’s national cyber leader, wrote a byline for Workforce magazine titled, “HR Heads to the Front Lines as Cybercrime Combatants,” which focused on cyber-related risks associated with HR technologies, in particular, Cloud/SaaS based computing. His article explored the toll cyberattacks on an organization, the industry’s response and what HR professionals need to do to become a valued cyber security partner within their respective organizations. Read Paul’s featured byline here.
As the U.S. construction market heats up, there is a renewed focus on improving operational efficiencies and embracing risk management strategies that offer meaningful financial impact. The construction insurance market is responding positively to these efforts, rewarding owners and builders that are operating their businesses efficiently and managing their risks properly with lower insurance premiums, broader coverage and higher limits. Still, in today’s post-recession construction market, not all trends are having a positive effect on the construction insurance market. Difficulty finding skilled labor, evolving construction delivery methods, numerous cybersecurity failures and increased litigation, including environmental liabilities, are creating a host of new challenges for construction insurance buyers. John Campbell, who leads USI Insurance Services’ construction practices, discusses six trends and solutions that are reshaping the construction insurance landscape. Find out what they are by clicking here to read his byline.
The 3rd annual USI Gives Back campaign kicks off today! Throughout the month of August, thousands of USI employees across the country will be performing local community service, helping hundreds of food banks, animal rescue shelters, senior centers, women’s crisis centers, homeless shelters, parks, farms and more. Click here to learn more about USI’ community investment platform.
Manuel Mendoza, regional compliance counsel for the USI West region, wrote an informative piece for Benefits Manager Pro titled, “Is your company prepared for a DOL investigation?” The last thing any human resources professional wants to receive is an envelope alerting them to a Department of Labor (DOL) ERISA investigation. Unfortunately, today’s HR professionals have reason to be concerned as 75 percent of DOL investigations are closed with a correction that can range from changes to administrative processes, fines, penalties and, in rare cases, imprisonment. Manuel outlines the risks associated with a DOL investigation, who the major players are and how to comply with the ever-changing legal obligations and rapidly expanding laws. While all HR professionals would be happiest if they never received a notice from the DOL informing them of an investigation, the key to a worry-free investigation is to be prepared and to work with a team who is experienced and can demonstrate proven results. Read Manuel’s article here.
Amy Stewart Law is a boutique law firm in Dallas, Texas, that hosts a popular blog called Insurance Sidebar: Amy Stewart PC’s Law Blog on Insurance Coverage Issues. Recently, Paul King, USI’s senior vice president and cyber practice leader, spoke with Amy about the growth of the cybersecurity business and the growing number and variety of insurance products available to help companies recover from cyber-attacks. Paul says that “cyber remains very affordable, but the terms are all unique by, and to, the carrier and many will not cover ‘reputational revenue loss’ (you have to know where to look) and even most brokers are unfamiliar with the coverage.” This blog also includes a 35-page report titled "The Cybersecurity Risk to Knowledge Assets,” that is devoted to the potential loss of “knowledge assets” (i.e. trade secrets and other confidential information) in a cyber breach, along with interesting information for those following the cyber insurance world. Read Paul’s interview with here.
Sean Hood, USI president of the New Hampshire office, penned a byline for The Standard New England’s Insurance Weekly newsletter which had a special focus on construction industry. His article, “Understanding Claim Drivers Key Step to Reducing Workers’ Compensation Costs,” includes different risk management approaches to help New England construction firms lower their workers’ compensation premiums. This includes: reviewing classification codes; auditing and correcting exposure information; analyzing claims to identify sources of loss; and reviewing experience modifier ratings to ensure they are up to date. Some brokers may simply ask insurance companies for workers’ compensation quotes which allows the carrier to dictate pricing. However, employing a proactive approach that, includes a comprehensive evaluation and clear identification of the exposures before going to the market, will empower a construction firm to gain control over its workers’ compensation claim drivers and total cost of risk management.
Phil Larson, USI chief operating officer and president, was recently interviewed by Insurance Business American for an agency insight feature story appearing in IBA’s latest issue, 4.07. In this exclusive story, Phil discusses USI’s history and future goals, the USI ONE Advantage® strategy, and the Company’s areas of growth and best performing sectors. The interview also includes Phil’s thoughts on what makes USI unique in the middle-market insurance industry and how we are supporting the success of our employees and attracting new talent. Included in the article is a great side bar on the unique way USI is giving back to the communities, coinciding nicely with the launch of our USI Gives Back campaign. Click here to read the whole issue (Phil’s interview is on page 34 of the magazine).
Wrap-up insurance programs have become an increasingly popular risk management tool for owners and general contractors of large construction projects. But even smaller projects have been able to reap some benefits from wrap-up coverage. During this podcast with Insurance Journal, John Campbell, managing director of USI’s Construction Practice Group and president of Construction Insurance Partners, provides his thoughts on the wrap-up insurance market today, why wrap-up programs are experiencing tremendous growth, and what sponsors should consider before implementing a program. Click here to listen to John’s podcast.
Frank Scott, USI’s West Orange, New Jersey, senior vice president, was interviewed recently by reporter, Robert Lenihan, of Business Insurance on midyear renewals in the commercial liability insurance market and how abundant capacity and aggressive underwriting are keeping the market competitive. Many brokerage firms are seeing decreases in commercial liability coverage, but there are some exceptions. Frank states that, with the exception of New York-area construction, the market is still soft, and buyers are very aware of what’s going on and wrapping their renewals early in favorable terms. Others interviewed also see a downward trend in most lines of coverage, with the exception of commercial auto. Read Scott’s interview here.
USI Insurance Services (“USI”) acquired substantially all of the assets of MVB Insurance, LLC (“MVB Insurance”) from MVB Financial Corp. (OTCQB: MVBF). MVB Insurance is a retail property-casualty and employee benefits insurance brokerage firm based in Morgantown, West Virginia. All employees at MVB Insurance have been offered employment by USI. MVB Insurance will retain the assets related to, and continue to operate, its title insurance business.
John J. Micale, USI MidAtlantic regional chief executive officer, said: “USI is already the largest insurance brokerage operation in West Virginia, and this acquisition further strengthens our footprint in this marketplace and our ability to deliver our clients an unparalleled suite of services and solutions. MVB Insurance’s goal of always delivering high quality, cost effective solutions closely aligns with the USI ONE Advantage® approach, which is setting a new standard and creating a new language for how insurance programs are innovated, communicated and measured. Randy and his team will play an important role to further our expansion efforts throughout the MidAtlantic, and we are excited to have them join the USI family.”
L. Randall “Randy” Cober, CIC, chief executive officer, MVB Insurance, said: “It has been our mission to look at every risk individually, and endeavor to do what's best for each. Our clients, team members and carriers all are treated with the same high level of care, courtesy and respect. USI shares in these principles of striving for excellence and cultivating relationships based on honesty and integrity. Our partnership with John and his team will enable us to continue providing the same genuine attention and responsiveness our clients have come to expect, while offering them a wider array of consulting and brokerage solutions through USI’s proprietary analytics, networked resources and enterprise planning.”
About USI
USI is a leading local and national 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, employs more than 4,400 professionals and operates out of 140 local offices serving every state. USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary and innovative client solutions, networked local resources and enterprise-wide collaboration to deliver customized results with positive, bottom line impact. USI attracts best-in-class industry talent with a long history of deep and continuing investment in our local communities. For more information visit usi.com.
New technologies, new concerns. Technologies that seemed futuristic a few decades ago now are commonplace. Computers, the internet and smart devices are business necessities, and it won't be long before drones and driverless vehicles also will play prominent roles in the economy. In terms of technology, the most prevalent risk management threat to companies comes from the overall connectivity of employees and businesses with devices around the world, says John Middleton, president of property and casualty insurance for the USI offices of Richmond, Newport News and Norfolk, Virginia. The bad news is that the threat of cyber risks is evolving continuously. The minute you think you understand all the exposures, cyber criminals come up with a unique way to attack businesses, John says. To see the entire interview in Virginia Business, click here.
USI Insurance Services (“USI”) received two Awards of Excellence for corporate communications at the 58th Insurance Marketing Communications Association (IMCA) Showcase Awards on June 21, during a gala ceremony at the Hyatt Regency Baltimore on the Inner Harbor in Baltimore, Maryland. The Company was honored in the category of “Employee Communications Campaigns” for the USI Summit Awards program, and in the category of “Corporate Social Responsibility” for the USI Gives Back campaign.
“We congratulate USI Insurance Services for the two Awards of Excellence they won at the 2016 IMCA Showcase Awards Gala,” said Mark Friedlander, board chair of IMCA and head of corporate communications at The Main Street America Group. “USI was one of several first-time entrants that captured honors this year. Their award-winning entries are a great example of the high-quality work being produced by insurance marketing and communications professionals across our industry.”
Michael J. Sicard, USI chairman and CEO, said: “We are excited to be recognized by IMCA for excellence in corporate communications for both our USI Gives Back campaign and USI Summit Awards program. Our employees have a passion for getting involved and helping others who are in need, and USI Gives Back is the heart of our corporate social responsibility platform, underscoring the deep roots we have in over 140 communities across the country. We are equally proud of being honored for our employee communications efforts surrounding the USI Summit Awards. This annual recognition program is our way of honoring outstanding associates who build our brand every day, in their daily interactions with clients, prospects, carriers and other associates. Congratulations to our two internal teams for their innovative and creative work on making these programs so memorable and successful.”
IMCA’s Showcase Awards recognize what members believe is outstanding marketing and communications work in the insurance industry. These awards are presented to insurance industry organizations in 32 categories that include advertising, annual reports, corporate social media, interactive, marketing communications and public relations.
About the Insurance Marketing & Communications Association
IMCA is the oldest association for insurance marketing and communications professionals in North America with roots tracing back to 1921. Membership includes leading international and domestic multi-line insurance companies and brokerage firms, regional and specialty companies, general agencies, and prominent industry suppliers. The organization represents over 120 companies, including the top five property/casualty writers in the United States. Members include senior level management and professional staff working in the areas of corporate communications, advertising, public relations, marketing communications, graphic design, marketing and sales promotion, marketing research and technology. Visit imcanet.com for more information.
About USI
USI is a leading local and national 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, employs more than 4,400 professionals and operates out of 140 local offices serving every state. USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary and innovative client solutions, networked local resources and enterprise-wide collaboration to deliver customized results with positive, bottom line impact. USI attracts best-in-class industry talent with a long history of deep and continuing investment in our local communities.
Andrea Wells, editor in chief, of Insurance Journal, recently sat down with John Campbell, USI’s construction practice managing partner and president of the wrap-up practice, to hear his thoughts on current and future opportunities in the construction market. Amid ups and downs, the construction market has seen steady growth over the past four years, and construction insurance specialists believe the market is set to finally start to heat up. From a national perspective, John sees the busiest sectors in office space renovation and retail construction, especially in downtown urban areas. He also cites construction activity increasing among infrastructure and public works projects, housing for college campuses and healthcare/long term care facilities. Read Campbell’s interview here.
Phil Dyer, USI Seattle senior vice president, health management services, was recently interviewed about the Washington Health Benefit Exchange (WAHBE). Phil has been a governing board member of WAHBE since 2012 and served in the Washington State House of Representatives for six years as chairman of the House Healthcare Committee. He also was mayor of the town of Sammamish in Washington, and a former board member of the Professional Underwriting Society. During this short video, Phil reflects on the state-based marketplace’s beginnings and where he sees the organization going from here. Click here to watch the video that was produced for the upcoming 2016 State of Reform conference to be held at the Spokane Convention Center on September 14, 2016.
USI Wheeling senior vice president, property-casualty, Nick Sparachane, was honored at the 23rd annual “Who’s Who in West Virginia Business” hosted by The State Journal on June 13. This event started in 1993 by The State Journal as a way to recognize business leaders throughout the state who continue to give back to their communities in tremendous ways. Nick’s career has been impressive and includes more than 30 years with McDonough Caperton and Wells Fargo before USI acquired the office in 2014. He served as a Wheeling’s two-term mayor and is vice chairman of Undo’s Family Restaurants, a full-scale restaurant operation founded in 1985 by his father, Undo Sparachane. Nick also is part of the Just-Us Development Group and Center City Development Group, and sits on the boards of Ohio Valley Construction Council, Main Street Bank, Wheeling Hospital and Regional Economic Development Council. He is married to Patti of 37 years, with five children and three grandchildren. His oldest daughter, Nichole Whorton, works with Nick at USI.
A recent assessment of cybersecurity preparedness amongst 17 industries showed healthcare ranked among the bottom performers. Indeed, healthcare records are among the most valuable on the dark web, with a full personal healthcare profile fetching approximately $40 per record. To address this escalating financial risk, Paul King, senior vice president and national cyber leader, explains in his Employee Benefit News byline why employers should care about cybersecurity. Read his story here.
Brian Ball, national vice president of health cost solutions at USI, contributes to Leader’s Edge headline story on big pharma called “Protection Money” in the June issue. This article discusses how specialty drugs now make up 37 percent of the U.S. drug spending, and are expected to reach 50 percent by 2018. Brian says that while there are cost benefits for employers and insurers in many of these drugs, not every specialty drug fits that description or should be covered. In the same issue, Mike Turpin, USI executive vice president, provides an overview of the ACA’s first few years since its enactment and shares how his 2014 predictions fared in “Brokers Out of the Money.”
USI Midwest RCEO, Thomas Cassady, was interviewed recently for the Cincinnati Business Courier, for an executive profile where he reveals interesting facts about his career, life and the insurance industry. Tom, who has working in the insurance business for 40 years, explains the brokerage business had to become more innovative and proactive due to customer demand. He says, “Providing actionable information, not just data that can mitigate and predict risk, is required.” He attributes his rise through the insurance ranks due to having a father with an unbelievable work ethic. Tom also motivates his employees by being transparent in his actions and expressive with his thoughts. Click here to read his full interview and find out what Tom hates most, what his guilty pleasure is and what he still keeps on his mirror from one of the world’s richest person, Carl Linder Jr. View the video of his interview here.
Insurance agency mergers and acquisitions reached an all-time high in the first quarter of 2016, with 109 reported transactions in the first three months of the year, according to Optis Partners’ M&A database. And there are no signs this momentum will subside, according to Jay Brown, USI vice president of corporate development, in Valhalla, New York. In this article, published by Employee Benefit Adviser, Jay discusses what employee benefits firms are looking for due the market’s complexity that is constantly changing. He points to recent USI acquisition of Hanratty & Associates as a great example of a partner who wanted to build his client base upstream and saw USI as a great match. Read the interview here.
USI Insurance Services (“USI”) has acquired Hanratty & Associates, Inc. Headquartered in Plymouth, Minnesota, Hanratty & Associates has been providing employee benefits and consulting for nearly 40 years. The employees will remain at their current Plymouth location. Terms of the transaction were not disclosed.
Michael J. Sicard, chairman, president and CEO of USI, said: “As an award winning insurance agency, Hanratty & Associates is known for taking the personal approach to delivering outstanding employee benefits solutions and healthcare expertise to their clients. Minnesota is a strategic area where USI is looking to invest, expand and grow, and Justin and his team foster a culture and value system which are very similar to ours. We call it the USI ONE Advantage® – a game-changing value proposition that delivers to clients a robust set of risk management and benefit solutions with bottom line financial impact. I am excited to be welcoming such a dynamic group of insurance professionals and look forward to expanding in this important marketplace.”
Justin T. Hanratty, CEO of Hanratty & Associates, Inc., said: “We pride ourselves on being knowledgeable, innovative and service minded professionals. Our clients love our dedication to exceptional service along with our commitment to serve employees and the communities in which we work. These strong relationships and values are a perfect match with USI’s principles, and through this acquisition our clients will continue to enjoy our high-touch, local service, as well as now having access to USI’s full suite of insurance brokerage and consulting solutions. We are pleased to be joining USI, and I look forward to leveraging our combined strengths to cultivate new and current client relationships."
Donald McG. Woods, USI Mountain regional chief executive officer, said: “Hanratty & Associates’ ability to deliver high quality, cost effective employee benefit solutions closely align with USI ONE. Our new partner will help us to accelerate our expansion efforts throughout Minnesota and we couldn’t be more pleased to have Justin and his talented team of professionals join our growing family.”
About USI Insurance Services
USI is a leading local and national 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, employs more than 4,400 professionals and operates out of 140 local offices serving every state. USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary and innovative client solutions, networked local resources and enterprise-wide collaboration to deliver customized results with positive, bottom line impact. USI attracts best-in-class industry talent with a long history of deep and continuing investment in our local communities. For more information, visit www.usi.com.
Randy Crawford’s article, “4 Ways to Reduce Workers’ Comp Claims,” has been published in the May issue of National Underwriter Property & Casualty. This story first appeared as a featured byline in Property Casualty 360° during the RIMS Conference. Due to its popularity, it was reprinted it in the sister publication, National Underwriter Property & Casualty. Randy, who is USI’s national industrial practice leader, discusses four tactics industrial companies can implement to reduce the cost of claims In the high-risk manufacturing sector, where large-dollar claims are common. Click here to read his byline which appears in both the digital and print versions.
From condos to office buildings to mixed-use properties, the dramatic increase in claims triggered by environmental incidents is affecting real estate properties of all types. Unexpected cleanup costs, regulatory fines and penalties, third party lawsuits, rental income loss, devalued properties and reputational damage are the direct causes of financial loss. This article written by Brian Dove, USI national real estate practice leader, focuses on several common environmental liability exposures faced by real estate companies and practical strategies to help avoid the financial hazards of escalating environmental liabilities. Read Brian’s byline in NREI by clicking here.
The numerous fiduciary responsibilities associated with managing employee benefit and retirement plans present compliance challenges for employers. Put simply, it is a fiduciary’s duty to act prudently and in the best interests of participants when it comes to decisions about the plan. At the same time, the law does not specify permissible levels of fees that can be charged by retirement and employee benefit plan service providers. However, fiduciaries are required to understand how plan fees are calculated and shared by participants, as well as determine the reasonableness of plan expenses. In the article, “Why 401(k) plan sponsors need to keep an eye on fee,” Mark A. Sarlo, USI Consulting Group’s vice president and director of retirement plan services, offers several practical suggestions employers should keep in mind when monitoring fees. Read his Employee Benefit News byline here.
Talk of wellness programs is all the rage, but a lack of understanding by employers and employees can undermine even the best of them. Arthur Hall, USI senior vice president and employee benefits practice leader, writes how wellness programs can affect health care costs. His byline, “Value of Wellness Programs Extends Far Beyond Profit,” discusses such cost drivers as unmanaged chronic diseases, the need for connecting health data with the human element to ensure program success, and how not all wellness programs are created equal. Read Arthur’s Business Insurance article here.
John Lukens, former CEO of Forrest Sherer, was recently interviewed by the Tribune Star, which was posted on YouTube. During his brief interview, John discusses the benefits of having his firm join USI, and the tools and resources that he and his team are looking forward to using with new and existing clients. Earlier this month, USI acquired Forrest Sherer Insurance, Inc., from First Financial Corporation. Headquartered in Terre Haute, Indiana, Forrest Sherer has been providing property-casualty, employee benefits and personal risk services for more than 90 years. Watch John’s interview here. Welcome to USI!
USI Insurance Services ("USI") honored Summit winners across the country during its 5th annual celebration on Friday, April 15. The Summit Awards are a recognition and celebration of USI’s top performing employees who are located in more than 140 locations across the United States. USI applauded a record 529 Summit Award winners – this represents a more than 150 percent increase since the Summit program began in 2011. In addition to paying tribute to multiple year winners, this was the first time the Company honored 25 five-time Summit winners.
Michael J. Sicard, USI chairman, president & CEO, said: “USI has grown into one of the leading insurance brokerage and consulting firms in the United States. The Summit Awards were designed to recognize outstanding service associates who have played an integral part in helping us achieve our goals. All of our Summit winners across the country go above and beyond every day to build our brand, in their daily interactions with clients, prospects, carriers and other USI associates. It is about these great individuals coming together to make USI a special place – where uniting as ONE powerful force, we can make a positive and lasting difference at work, in the industry and in our local neighborhoods.”
Kim Van Orman, USI senior vice president & CHRO, said: “This annual recognition program is the only one of its kind in our industry. The Summit Awards event is our way of honoring those individuals who exemplify the hard work, innovation, service and spirit of USI employees around the country. I am thrilled to be honoring these exceptional professionals who have contributed so much to USI, and I congratulate them on this wonderful achievement.”
The USI Summit Awards were created in 2011 as reward and recognition for USI’s associates nationwide who serve both internal and external clients. Each Summit winner receives the Summit Experience which includes: company-wide recognition; local office celebrations; a custom-designed trophy; and a “special” off-site day planned. For 2015, the honorees ranged from one to 45 years of service and were represented in USI offices from coast to coast.
About USI Insurance Services
USI is a leading local and national 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, employs more than 4,400 professionals and operates out of 140 local offices serving every state. USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary and innovative client solutions, networked local resources and enterprise-wide collaboration to deliver customized results with positive, bottom line impact. USI attracts best-in-class industry talent with a long history of deep and continuing investment in our local communities. For more information, visit www.usi.com.
USI Insurance Services (“USI”) has acquired Brooks Insurance (“Brooks”), headquartered in Toledo, Ohio, one of the largest independent insurance agencies in the Midwest. Since 1922, Brooks has provided comprehensive coverage and personalized service to clients in northwest Ohio, southeast Michigan, and northeast Indiana. Brooks’ solutions include property-casualty, employee benefits, bonds/surety, homeowners, renters, automobile, watercraft and personal health. The employees will remain at their Toledo and Bowling Green, Ohio, locations. Terms of the transaction were not disclosed.
Dennis Johnson, CPCU and president of Brooks Insurance, said: “In joining forces with one of the premier insurance brokerage and consulting firms in the country, our clients will continue to benefit from coordinated solutions and support on a local level, but now they also will be able to tap into USI’s resources, technical expertise and wide range of products and services on a national level. I am delighted to be combining our strengths to expand our Midwest presence in these key markets, and I look forward to collaborating on risk management and employee benefit opportunities that will protect and grow the assets of our existing and future clients.”
Thomas D. Cassady, USI Midwest regional chief executive officer, said: “From the beginning, the ideals of Brooks Insurance have been integrity, honesty and objective advice to provide the best insurance coverage possible. Under Denny’s leadership, they have continued that legacy of being an industry and community leader, earning many awards and insurance designations. It is those values that make Brooks a great fit with the USI ONE Advantage® platform that leverages the collective knowledge of our associates and partners to offer meaningful and measurable solutions and services to our clients and communities. I am excited to be partnering with Denny and his team on future opportunities for strategic growth and I welcome them to USI.”
About USI Insurance Services
USI is a leading local and national 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, employs more than 4,400 professionals and operates out of 140 local offices serving every state. USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary and innovative client solutions, networked local resources and enterprise-wide collaboration to deliver customized results with positive, bottom line impact. USI attracts best-in-class industry talent with a long history of deep and continuing investment in our local communities. For more information, visit www.usi.com.
In the highly competitive construction industry, how contractors deliver services to clients is constantly evolving along with the risks and exposures they face daily. From contractors moving into the design field to the increased use of joint ventures and integrated project delivery agreements, construction delivery methods are becoming more sophisticated. John Campbell, USI construction practice managing partner and president of the Company’s wrap-up practice, provides a few of the solutions and processes that have proven to be successful in mitigating risk and protecting a business’ bottom line from start to finish. Read his article, “New Methods, New Risks,” in Construction Today.
In the high-risk manufacturing sector where large-dollar claims are common, small to middle-market companies struggle to find experienced partners capable of providing targeted risk control and effective techniques to lower loss results and reduce the effect on the total cost of risk. Randy Crawford, USI national industrial practice leader, penned the article, “Four Ways to Reduce Workers’ Comp Claims,” which contains four tactics industrial companies can implement to reduce the cost of claims. Randy’s byline was featured at the Property Casualty 360° RIMS hub during last week’s conference and was emailed to all subscribers as a News Flash. Click here to read Randy’s story.
USI was named “Insurance Brokerage and Consulting Firm of the Year” by Corporate LiveWire, which provides business professionals in the corporate finance sector information on the latest news and developments from around the globe. The Corporate LiveWire’s 2016 Innovation & Excellence Awards recognize businesses that have transformed over the past 12 months, setting clear industry trends and advances. The judging panel considered the strengths of each shortlisted candidate, setting its sights firmly on the most innovative, groundbreaking and client-focused firms, teams and individuals who have transformed the way in which they do business. In addition to USI, this year’s winners included Google, Uber, Airbnb Inc. and Microsoft.
USI Insurance Services (“USI”) has acquired Forrest Sherer Insurance, Inc., (“Forrest Sherer”), from First Financial Corporation. Headquartered in Terre Haute, Indiana, Forrest Sherer has been providing property-casualty, employee benefits and personal risk services for more than 90 years. The employees will remain at the current Terre Haute and Evansville, Indiana, locations. Terms of the transaction were not disclosed.
Michael J. Sicard, chairman, president and CEO of USI, said: “We are excited to welcome the Forrest Sherer team and their long history of delivering great expertise, people and service to their clients and communities. USI has grown into one of the leading property & casualty, employee benefit and personal risk broker consultants in Indiana, and we are committed to continue to invest and grow in this great state and the surrounding communities.”
John S. Lukens, president and CEO of Forrest Sherer Insurance Inc., said: “We are proud to have created a standard of service we like to call The Sherer Edge. This commitment to excellence will remain and we will continue to be a trusted advocate for our clients, who now will enjoy an expanded suite of insurance solutions and services afforded by a national organization. I am excited to be partnering with a firm whose values, as demonstrated by the USI ONE Advantage®, are closely aligned with ours. And, I look forward to fostering new and existing relationships that will be based upon these mutual principles.”
Thomas D. Cassady, USI Midwest regional chief executive officer, said: “For almost a century, the clients of Forrest Sherer have been enjoying value-added insurance programs that are tailored to their specific needs, challenges and budgets. Their staff’s industry knowledge and passion to protect what is near and dear to their customers’ hearts are a great match with USI ONE and our best-in-class talent. By joining forces today, we are able to further strengthen USI’s position as the leading insurance brokerage firm in the Midwest, and I welcome John and his team to the USI family.”
About USI Insurance Services
USI is a leading local and national 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, employs more than 4,400 professionals and operates out of 140 local offices serving every state. USI has become a premier insurance brokerage and consulting firm by leveraging the USI ONE Advantage®, an interactive platform that integrates proprietary and innovative client solutions, networked local resources and enterprise-wide collaboration to deliver customized results with positive, bottom line impact. USI attracts best-in-class industry talent with a long history of deep and continuing investment in our local communities. For more information, visit www.usi.com.
Pascal Ray, USI senior vice president and marine and energy program leader, was interviewed for Best’s Review feature story, “Bracing for Aftershocks” that appeared in their April issue on page 40. Pascal offers his insights as regulators and lawyers move to link a process used in fracking to the increase in earthquakes. The article also contains a USI infographic timeline of manmade earthquakes, featuring key events of reported relationships between human activities and earthquakes. Pascal explains that the industry currently is in “unchartered waters” and an increased uncertainty by underwriters is due to “a lack of precedent and the inability to quantify the liabilities that could result should one of their clients be found guilty of causing an earthquake.” To read the full article click here.
Product recalls are on the rise and last quarter, there were dozens of recalls on food, cars, even bicycles. Recall risks not only affect a company short-term, but there are long-term ripple effects that can be devastating to a firm’s reputation and profitability. USI national industrial practice leader, Randy Crawford, was interviewed recently for a story titled, “10 Things to Know About Product Recall.” This article appeared in the “Spotlight” section of the March 21 issue of Insurance Journal. Randy explains there are key considerations when defining a product recall in an insurance policy and how these considerations can vary. Read the article here.
Kim Van Orman, senior vice president and chief human resources officer, is the featured contributor for the “Closing Quote” section in this month’s Insurance Journal. Kim’s article outlines several examples on what insurance brokerage firms should be doing to enhance their outreach among millennials. She says today’s young talent want to be part of an open, challenging and engaged workforce, and firms who embrace this premise will be the ones that lead the next generation of high-drive, high-knowledge and high-passion producers. Read Kim’s article here.
This article is part two of a three-part series on the oil and gas industry that Pascal Ray, senior vice president and marine and energy program leader, is writing exclusively for Insurance Journal. His story addresses new and emerging trends, including an in-depth look at the Porter Ranch natural gas blowout. Pascal explains how the blowout is a case study of emerging claims trends for the oil and gas industry and what this potentially means on evacuation risk. Many experts believe changes in regulations and inspections are expected regarding oil and gas wells, as costs resulting from the Porter Ranch disaster could total over one billion dollars. Read Pascal’s article here.
USI national real estate practice leader, Brian Dove, wrote an article titled, “Top 4 Real Estate Trends to Watch in 2016,” which is featured in National Underwriter’s PC360. This byline discusses four important trends to watch for in 2016, which could have a significant financial impact on businesses. They include the softening property insurance market, increased exposure from older property acquisitions, lender insurance requirements and protecting tenant data. Read Brian’s byline here.
USI Insurance Services (“USI”) is proud to announce that Tonya Stone, vice president, personal risk, for the USI Seattle, Washington, office has been named a 2016 Power Broker by Risk & Insurance. Lori Cataldi, personal risk practice leader, for the USI New England region, also was recognized by the magazine as a Power Broker finalist.
Jim Kane, USI senior vice president, personal risk services, said: “Forward thinking, game-changing service and solutions are at the heart of our USI ONE Advantage®, and Tonya and Lori have an impressive record of consistently delivering on that vision for our clients. I am extremely proud of the creative and innovative work they are doing every day to protect and grow the personal wealth of our clients, and congratulate them on this prestigious award.”
A Risk & Insurance® Power Broker® is an individual who stands out among their peers for the exceptional client work they delivered over the past year. In its 11th year, this award recognizes the best commercial property and casualty brokers in more than 20 industry categories. Stone and Cataldi were both honored in the “Private Client” category, a new industry category for 2016 that is sponsored by the Private Risk Management Association (PRMA). Each Power Broker is selected based upon the strength of client testimonials. Risk & Insurance editors and writers collect and choose the most compelling testimonials based on the award criteria.
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 create customized solutions with positive, bottom line impact. The value of USI, and our ability to attract best-in-class industry talent while providing 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 www.usi.com.
USI senior vice president and marine and energy practice leader, Pascal Ray, has been tapped to speak about critical risk management issues surrounding the oil and gas industry at the 2016 IRMI Energy Risk & Insurance Conference, March 1-3, 2016, in Houston, Texas. During two sessions, Ray will share the USI Energy Practice’s vision and USI ONE Advantage® for helping energy companies control costs and manage risks in the face of evolving regulations in a volatile marketplace.
The first session, “Energy 101 - A Primer on OEE/COW Exposures and Insurance” is Tuesday, March 1, 1:45pm – 2:35pm, and provides an overview of the basics of the control of well insurance and the risks it involves. The second session, “Understanding Maritime Exposures and Insurance” is Thursday, March 3, 12:30pm-1:45pm, and is a breakout session exploring the most significant federal laws that may apply to injured workers and the insurance solutions to address those risks. For more information on this conference, visit www.irmi.com
Headed up by Ray and Robert Meyers, USI senior vice president of property-casualty, the USI Energy Practice advises clients on a variety of onshore and offshore energy risk exposures and challenges in energy-producing states where USI has a local presence, including Colorado, Louisiana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, West Virginia and Wyoming.
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 create customized solutions with positive, bottom line impact. The value of USI, and our ability to attract best-in-class industry talent while providing 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 www.usi.com.
As the New Year is in full swing, many human resource professionals across the country are asking themselves, ‘how do I avoid another year like the last?’ Increasingly, the answer to solving many issues has been technology. In the past five years, the supply of fast moving, all-encompassing HR solutions has expanded dramatically. Employee benefits seems to be the newest arena where tech disrupters want to make their mark. The question is, how does the HR professional, with several other responsibilities on his or her to-do list, keep track of them all? To avoid the hype of HR nirvana, Arthur Hall, senior vice president, employee benefits practice leader, puts forth six questions in his Employee Benefit News article HR professionals should be asking themselves to help keep that resolution and make better business decisions. Read Arthur’s byline here.
USI Insurance Services (“USI”) has acquired Best Insurance, located in Tamarac, Florida. Best Insurance offers a wide range of personal insurance products, including homeowners, automobile, motorcycle, boat and watercraft, to customers in Florida, Georgia, North Carolina and South Carolina. Terms of the transaction were not disclosed.
James W. Dunn, USI Southeast regional chief executive officer, said: “The professional advisors at Best Insurance have built an agency that is based on deeply understanding their clients’ needs, and delivering unparalleled service and cutting edge solutions. This customer-centric approach complements the USI ONE Advantage® that combines analytics, networked resources and strategic planning to deliver measurable solutions with economic impact. Additionally, the strong customer and community ties at Best Insurance will play an important role in further strengthening our presence in the Southeast where we continue to invest heavily. I am pleased to have Barry and his team join USI, and I welcome them to our growing family.”
Barry R. Sokoloff, president, Best Insurance, said: “Reliability, unsurpassed service and always putting the customer first have been the keys to our success since my father, Sander Sokoloff, began this business in 1979. Through this acquisition, these tenets will remain, but now our clients also will enjoy an expanded suite of property-casualty, personal risk, employee benefits and retirement solutions and services afforded by a national organization. We are excited to be growing our footprint in this strategic growth marketplace, and we look forward to delivering targeted, best-in-class solutions that protect income and wealth, provide superior coverage and control costs.”
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 create customized solutions with positive, bottom line impact. The value of USI, and our ability to attract best-in-class industry talent while providing 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 www.usi.com.
USI Insurance Services (“USI”) chairman, president and CEO, Michael J. Sicard was a featured speaker at the Independent Oil and Gas Association (IOGA) Winter Meeting in Charleston, West Virginia, on Wednesday, February 3, 2016. West Virginia Governor Earl Ray Tomlin also spoke during this two day event that included a series of technical sessions and important updates from leading authorities in the oil and gas industry.
Sicard’s speech, “The State of the Insurance Market in the Oil and Gas Industry,” shared oil and gas risk management insight from the USI Energy Practice that is comprised of a team of oil and gas risk management experts from around the country. Although the challenges that the oil and gas industry are facing are many – decline in oil and natural gas; high unemployment; decline in coal production and revenue; layoffs; overregulation – Sicard’s discussion presented smart risk management solutions for upstream energy companies that will help reduce their overall exposures and improve their competitive advantage.
The IOGA West Virginia has partnered with Pete Thackston, USI Huntington account manager, on its employee benefits program for more than 20 years. Jon Hildreth, IOGA West Virginia president, said: “Mike, Pete and the entire USI Energy Practice’s depth of knowledge in this industry is only surpassed by their innate ability to address complex issues and then share innovative solutions in practical terms that help protect our energy members, control costs, and better manage risk and benefits in the face of changing regulations in a volatile energy market.”
Headed up by Pascal Ray, USI senior vice president and marine and energy practice leader, and Robert Meyers, USI senior vice president of property-casualty, the USI Energy Practice advises clients on a variety of onshore and offshore energy risk exposures and challenges in energy-producing states where USI has a local presence, including Colorado, Louisiana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Texas, West Virginia and Wyoming.
The Practice will continue to share its expertise on a national level with Ray speaking at two sessions at the 2016 IRMI Energy Risk & Insurance Conference, March 1-3, 2016, in Houston, Texas. The first session, “Energy 101 - A Primer on OEE/COW Exposures and Insurance” is Tuesday, March 1, 1:45pm – 2:35pm, provides an overview of the basics of the control of well insurance and the risks it involves. The second, “Understanding Maritime Exposures and Insurance” is Thursday, March 3, 12:30pm-1:45pm, and is a breakout session that explores the most significant federal laws that may apply to injured workers and the insurance solutions to address those risks. For more information on this conference, visit www.irmi.com.
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 create customized solutions with positive, bottom line impact. The value of USI, and our ability to attract best-in-class industry talent while providing 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 www.usi.com.
The inaugural North American Excellence Awards selected the USI Gives Back initiative as a final nominee in the category of Corporate Social Responsibility. Although USI didn’t win, we made the “final five shortlist” along with some very large companies: Mars, Inc., ConAgra, PepsiCo and Subaru of America. The North American Excellence Awards honors “outstanding achievements in the field of PR and communications,” and this year’s awards attracted more than 2,600 applications across 46 categories. View the full list of winners and shortlisted nominees (USI is listed in category #30, Corporate Social Responsibility). Congratulations to all on this accomplishment!
A recent report from Aon Benfield said Winter Storm Jonas will end up being a multi-billion-dollar economic cost. The report compared Jonas to a similar storm system in 1996, which caused an estimated economic loss of $4.6 billion and insured loss of $920 million in current dollar terms. However, some have stated that Jonas will be a fairly minor insurance event due to the fact that it took place on a weekend (less effect on businesses) and that the high temperatures melted the snow quickly. USI Northeast senior vice president, Frank Scott, weighs in on this issue during a recent interview with Insurance Journal. Click here to see what his thoughts are along with other industry experts.
USI Insurance Services (“USI”) announced today the closing of New Jersey-based, CBDI, Inc. (“CBDI”), an employee benefits wholesale brokerage operation. CBDI will combine with Emerson Reid, LLC, USI’s employee benefits wholesale brokerage division. CBDI adds to Emerson Reid’s leading position in the employee benefits wholesale market in New Jersey and Pennsylvania. CBDI’s employees will remain at their current location. Terms of the transaction were not disclosed.
Formed in 1992 and located in Mount Laurel, New Jersey, CBDI offers an integrated, multi-faceted approach to employee benefits for brokerage firms in the Delaware Valley. Their services include total benefits solutions, broker support, benefit administration and consumer options, including individual and Medicare coverage.
George A. Rosiak, president of Emerson Reid, said, “Our strategy is to differentiate our brokers in the marketplace through our people, resources and innovative programs. We look for partners who are trusted sources that add value through superior service and leading edge technology. CBDI’s business model perfectly complements ours, and the quality and knowledge of their staff will help us to further our goal of growing and protecting our clients’ business. I am excited to welcome Jack and his team to Emerson Reid and look forward to working with them to deliver unparalleled service and support to our brokers.”
Jack J. Piccininni, president of CBDI, Inc., said: “We are excited to join Emerson Reid and combine our resources to best position our broker partners for success as the employee benefits market continues to grow in complexity and increased competition from non-traditional benefit companies. Our brokers will now have access to Emerson Reid’s specialized departments, sophisticated marketing technology, and in-depth ACA and compliance resources.”
About CBDI
CBDI is a forward thinking benefits agency that assists brokers and customers in the development, implementation, and communication of medical, dental, life, disability, and other employee benefit plans. CBDI structures and implements unique, competitive and cost-effective benefit programs with the paramount goal of providing our clients extraordinary service, technical expertise and creative solutions. For more information visit: www.cbdi-inc.com.
About Emerson Reid, LLC
Emerson Reid, LLC, in business since 1974, is a true wholesale general agent that has grown to over 250+ employees in eight offices. The company manages over $3 billion in insured premium and more than 400,000 medical lives on behalf of our broker-partners. Its strategy is to differentiate brokers from their competition through the introduction of new and innovative programs while providing the tools, knowledge, and support necessary to expand and protect their business. For more information visit: www.emersonreid.com.
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 create customized solutions with positive, bottom line impact. The value of USI, and our ability to attract best-in-class industry talent while providing 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 www.usi.com.
USI Insurance Services (“USI”) has acquired Healthcare Liability Solutions, LLC (“HLS”), located in Houston, Texas. HLS is a property and casualty brokerage firm dedicated to customizing insurance programs for healthcare organizations and providers specializing in professional liability insurance. Terms of the transaction were not disclosed.
John D. Collado, USI regional chief executive officer, said: “HLS has a deep commitment to offering sophisticated, creative and cost-effective solutions, and their experienced staff will help us broaden our reach in the professional liability market.” Michael J. Sicard, USI’s chairman, president and CEO, said: “We are excited to welcome Denise and her team to the USI family. Their strong insurance knowledge, long-term relationships and technical expertise in healthcare regulations complement our USI ONE Advantage® platform.”
Denise D. Barnes, president, Healthcare Liability Solutions, said: “This acquisition allows us to continue customizing insurance programs for healthcare organizations and providers, but now our clients also will enjoy an expanded suite of best-in-class solutions and services provided by a national organization. We look forward to partnering with the USI team of local and national experts and to creating targeted risk management programs that will foster growth for existing and future healthcare clients.”
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 create customized solutions with positive, bottom line impact. The value of USI, and our ability to attract best-in-class industry talent while providing 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 www.usi.com.
In today’s highly competitive business environment, construction companies constantly seek insurance solutions that can provide material financial impact, limit their contractual exposures and provide coverage enhancements. The article, “Finding Financial Protection for Your Business,” written by John Campbell, USI construction practice managing partner and president of the wrap-up practice, contains four strategic insurance solutions that, when structured properly, can provide financial protection and protect a construction company’s bottom line. Read John’s article here.
Nation Real Estate Investor published an article in its finance and investment section written by Brian Dove, USI’s national real estate practice leader. In Dove’s article, “Managing the Risk of a Big Event in Real Estate Getting Bigger,” he outlines three risk management solutions that real estate decision makers can implement to better manage their catastrophe exposures and ultimately their financial positions. They are: clarifying catastrophe deductible wording; flood definition clarification; and setting proper limits based on catastrophe modeling. Read Dove’s article here.
USI senior vice president and marine and energy program leader, Pascal Ray, writes about the changing oil and gas industry and how there will be new risks and challenges. This is the first article in a three-part “Closer Look” series that Ray is writing exclusively for Insurance Journal. In this commentary, Ray provides an overview of significant milestones occurring in 2015, including new and emerging technology, such as hydraulic fracking, and the announcement that the U.S. is now the number one oil and gas producer in the world. And, thanks to a change in law, the U.S. has access to a global marketplace previously not accessible to the U.S. for 40 years so risks in the oil patch will continue to evolve. While these issues have created new risks, Ray’s article is centered on risks that exist with the existing 4.3 million wells in the U.S. Read Ray’s article here.