IBAMAG.COM ISSUE 5.12 | $12.95
T 10 O H
2018 These 100 men and women are changing the course of the American insurance industry CYBER’S NEWEST THREAT
Are insurers prepared for the possibility of an aggregated outage?
00_OFC Spine OBC-SUBBED.indd 1
INNOVATION AT LLOYD’S
How the centuries-old insurer is staying on the cutting edge
AT YOUR SERVICE
Exploring the unlimited potential of the hospitality sector
23/11/2017 12:35:46 AM
22/11/2017 10:26:07 PM
22/11/2017 10:26:25 PM
CONNECT WITH US Got a story or suggestion, or just want to find out some more information? twitter.com/InsuranceBizUS
UPFRONT 04 Editorial
A year of rising to the challenge
T 10 O H
05 Head to head
Is insurance prepared to handle an online outage that affects thousands of policyholders at once?
This month’s big movers, shakers and new products
12 Workers’ comp update
Rising medical costs could threaten the stability of the workers’ comp sector
Mike Tiagwad outlines how his agency has thrived while holding on to its independence
Trevor Maynard, head of innovation at Lloyd’s, is making sure the storied institution remains relevant in the 21st century
A look at what’s driving the cyber insurance market’s explosive growth
How telematics can help brokers connect with clients
14 Technology update
Meet the 100 insurance professionals who are having the greatest impact on the industry
Are targets the best way to drive industry diversity?
What it will take to keep the National Flood Insurance Program afloat
PEOPLE 63 Career path
Ed Bowler has put his accounting background to good use in pioneering private equity financing for brokerages
64 Other life
Bonnie Steen lets the good times roll every year from her perch on a Mardi Gras parade float
ROLLING OUT THE RED CARPET
The hospitality space has seen a surge in carrier interest, opening up new opportunities for brokers
IBAMAG.COM CHECK IT OUT ONLINE
22/11/2017 9:53:06 PM
www.ibamag.com MAY 2017 EDITORIAL Managing Editor Paul Lucas Journalists Sam Boyer, Jordan Lynn, Bethan Moorcraft, Lucy Hook, Ryan Smith News Writers Lyle Adriano, Krizzel Canlas, Terry Gangcuangco, Mina Martin, Gabriel Olano Staff Writers Tim Garratt, Hannah Go, Libby Macdonald, Joe Rosengarten, Heather Turner Copy Editor Clare Alexander
CONTRIBUTORS Steve Linkous
ART & PRODUCTION Designer Joenel Salvador Production Manager Alicia Chin Traffic Manager Ella Dayandante
SALES & MARKETING Vice President John Mackenzie Media Sales Managers Chris Wills, Chris Anderson, Desiree McCue, Megan Roth Mktg & Comms Manager Lisa Narroway
CORPORATE Chief Executive Officer Mike Shipley Chief Operating Officer George Walmsley Chief Information Officer Colin Chan Human Resources Manager Julia Bookallil
Editorial Inquiries email@example.com Subscription Inquiries firstname.lastname@example.org Advertising Inquiries email@example.com, firstname.lastname@example.org, email@example.com, firstname.lastname@example.org
Key Media 78O7 E. Peakview Ave., Suite 115 Centennial, CO 80111, USA tel: +1 720 316 0151 www.keymedia.com Offices in Denver, London, Toronto, Sydney, Auckland, Manila, Singapore, Bengaluru
Insurance Business America is part of an international family of B2B publications and websites for the insurance industry Insurance Business Canada email@example.com T +1 416 644 874O Insurance Business UK firstname.lastname@example.org T +44 20 7193 0935 Insurance Business Australia email@example.com T +61 2 8437 47OO
A roller-coaster of a year
he end of the year is the time to reflect on the last 12 months – and when looking back on 2017, it’s clear it has been quite the roller-coaster for the insurance industry. The greatest highs and deepest lows were arguably achieved over a matter of weeks, when hurricanes Harvey, Irma and Maria struck the US and the Caribbean. The low, of course, was the horrible loss of life, but a high could be found in the way the industry responded, casting aside profits to deliver what insurance is meant to do – to help people when they need it most. Speaking of catastrophes, debate has swirled throughout the year over the future of the National Flood Insurance Program – something that should be resolved imminently by the time of publication. Of course, catastrophes are no longer limited to natural disasters alone, as 2017 has reminded us only too starkly. Terrorism insurance, for example, has been thrust into the spotlight on the back of a horrific series of attacks worldwide, culminating in the most recent incident in New York. Challenges remain for the industry in terms of clarifying
Catastrophes are no longer limited to natural disasters alone, as 2017 has reminded us only too starkly what the coverage offers: Is it limited to physical damage, or does it include business interruption? And is there real protection for the lone-shooter and vehicular incidents that have become so commonplace? Cyber insurance has presented challenges, too – both in terms of ascertaining its importance to clients and ensuring that insurance professionals themselves truly understand the complexities of this constantly developing product. Highprofile attacks like WannaCry and Petya have grabbed headlines, but brokers’ biggest stumbling block remains getting the message across to SMEs that they have just as much need for the product as larger enterprises. One thing is certain – for all the talk of insurance being a stuffy, boring industry, things are constantly evolving. Here at Insurance Business America, we’ve also had a breakthrough year, with an explosion in web visitors, a series of successful events on themes such as flood and cannabis, and our first awards night in the US – all thanks to you, our readers. Whatever events 2018 brings, IBA hopes you’ll continue to rely on this publication as your number-one source of industry news and education. The team at Insurance Business America
Insurance Business NZ firstname.lastname@example.org T +61 2 8437 47OO Insurance Business Asia email@example.com T +61 2 8437 47OO Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as the magazine can accept no responsibility for loss.
22/11/2017 10:00:23 PM
HEAD TO HEAD
Should insurance introduce diversity targets? The joke is that insurance is typically pale, male and stale – is it time to make a concerted effort to change that?
Chris Mackinnon Country manager Lloyd’s Australia
Managing director and CEO icare
“For me, it is all about getting the best talent into the business and then retaining them. My view is that targets are a useful tool to measure progress – I don’t see anything bad about targets, but they are not effective unless they are part of a cultural change on unconscious bias and the implementation of a clear strategy to improve diversity and inclusion. Firms that have proactive talent management can do amazing things. Unconscious bias is all around us, and it takes a conscious effort to constantly challenge our own biases in decisions such as who to hire or promote.”
“I believe an inclusive culture and diversity of people and thought are imperative for businesses and communities to succeed and deliver their vision. Personally, I want to make sure my children have the same opportunities as anyone else, irrespective of their gender and identity. I’m not a fan of diversity targets. Targets can be tokenistic. People want to contribute their talents based on merit, not feel they’re satisfying a quota. While targets can lead to increased diversity, they don’t necessary drive inclusive workplaces. Our role is to break down any barriers so as to challenge bias, not be the bias.”
“More diversity will benefit the insurance industry – studies have shown that more diverse organizations outperform those lacking diversity. Insurance as an industry has made progress, but still has a long way to go. Consider gender diversity – women account for over half the employees in the industry, yet occupy just 12% of senior management positions. Diversity targets are a good idea and have delivered great results; however, targets alone are not enough to meet the challenges of diversity. Internally, organizations need to foster a culture that welcomes and embraces a diverse workforce, including in the C-suite ranks.”
Special counsel Hall & Wilcox
READY FOR A CHANGE More than 70% of insurance professionals believe their firm’s culture needs to become more inclusive in order to attract and retain the best talent, according to a survey of nearly 3,000 insurance professionals. The survey, carried out at Dive In, a global festival for diversity and inclusion in the insurance industry, also found that almost two-thirds of respondents felt their employer needed to take greater action to advance workplace diversity and inclusion in the areas of gender, LGBT and mental health. “The insurance sector is working hard to address its culture,” Lloyd’s CEO Inga Beale said in response to the findings. “We have made a lot of progress, and although we have more work to do, we are uniting across the insurance world to attract and retain a diverse workforce.”
04-05_Head to Head-SUBBED.indd 4
22/11/2017 10:01:53 PM
THERE ARE EASIER WAYS TO GAIN BUSINESS INSIGHT
Let your data open doors and give you the opportunity to outpace your competition. Insights from Analytics can be your greatest competitive advantage. Analytics give you a deeper understanding of every aspect of your business and empower you to make the right decisions at the right time. To hear how ReSource Pro Analytics Solutions open the door to better business performance, call us at 1.877.876.3020, email firstname.lastname@example.org or visit www.resourcepro.com/an.
04-05_Head to Head-SUBBED.indd 5
22/11/2017 10:01:38 PM
The growing cyber market Cyber insurance is only going to get bigger in 2018 as an increased awareness of risk drives demand THE GLOBAL cyber insurance market – already somewhere between $2.5 billion and $3.5 billion – is poised to grow to between $12 billion and $20 billion within a decade. Average policy limits are climbing as well, up to $6 million from last fall’s $3 million, indicating that clients tend to increase their limits upon renewal and that first-time cyber purchasers
Insurance brokers’ clients who have purchased at least some form of cyber coverage
Clients who have increased their cyber coverage in the past six months
A CROWD OF RECENT CYBER INCIDENTS Data theft and network intrusion continue to be the biggest cyber threats to businesses, as evidenced by recent high-profile breaches at companies such as HBO and Equifax. But the ransomware threat also looms large, highlighted by this year’s WannaCry and Petya attacks.
are opting for greater coverage levels. So why are more businesses buying cyber coverage? The answer varies, depending on the organization’s size. More than 60% of large companies cited risk transfer as the main reason, while SMEs put nearly equal importance on contract compliance and access to post-breach resources.
$600 million The highest reported cyber policy limit, up from $500 million last fall
2015-2016 SOCIETY FOR WORLDWIDE INTERBANK FINANCIAL TELECOMMUNICATION Millions stolen from the global banking network February 2016 US DEPARTMENT OF JUSTICE Information on 30,000 employees stolen
Clients who have information security systems in place
Source: CIAB, Cyber Insurance Market Watch Survey, May 2017
THE RISING PRICE OF RISK
WHAT MOTIVATES PURCHASE?
Perhaps the most compelling case for cyber insurance is the fact that the average cost of a data breach has risen by nearly $2 million in five years.
Large corporations and smaller organizations clearly have different priorities when it comes to purchasing cyber insurance. Nearly two-thirds of large entities named risk transfer as their main motivation for obtaining cyber coverage, while for SMEs, contract compliance was nearly as important.
WHY DO ORGANIZATIONS PURCHASE CYBER INSURANCE?
Small and medium-sized enterprises
Source: IBM and Ponemon Institute, Cost of Data Breach Study, 2017
Risk transfer 35.6% Risk mitigation assistance 3.4% Post-breach resources 22.0% Contract compliance 28.8% Other 10.2%
Risk transfer 62.7% Risk mitigation assistance 10.2% Post-breach resources 22.0% Contract compliance 1.7% Other 3.4%
Source: CIAB, Cyber Insurance Market Watch Survey, May 2017
22/11/2017 10:02:51 PM
July 2 CITIB Disgruntled shuts down Citibank glo center r
May 2017 WANNACRY RANSOMWARE Global attack affects 230,000 devices in 150 countries
June 2017 PETYA RANSOMWARE Global attack affects 12,000 devices across 65 countries
July 2017 PARITY WALLET AND COINDASH Almost $40 million in Ethereum stolen from two cryptocurrency exchanges
November 2016 TESCO BANK Approximately 40,000 Tesco Bank accounts lose money
August 2017 HBO Data theft of several TV programs and emails
October 2016 DYN CYBERATTACK Large-scale denial-of-service attack disrupts internet platforms in North America and Europe
September 2017 EQUIFAX Data breach compromises an estimated 143 million accounts
August 2016 US NATIONAL SECURITY AGENCY Various secure documents stolen and leaked
July 2016 CITIBANK Disgruntled employee shuts down nine core Citibank global control center routers
September 2017 SECURITIES AND EXCHANGE COMMISSION Undisclosed number of data breaches of non-public company information
Source: Fitch Ratings, Cyber Insurance – Risks and Opportunities, September 2017
Recent figures reveal that US cyber liability renewal rates declined 1.7% on average at the beginning of 2017 – the first decrease since 2014. The Council of Insurance Agents & Brokers attributes the decline to broader options and wider capacity, which have moved conditions in policyholders’ favor.
GROWTH IN CYBER RENEWAL RATES
Uptake of cyber coverage is growing – on average, brokers have seen an 8% increase in the number of clients purchasing cyber insurance since 2015. % OF CLIENTS BUYING CYBER INSURANCE
5% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2013 2013 2013 2013 2014 2014 2014 2014 2015 2015 2015 2015 2016 2016 2016 2016 2017 Source: CIAB, Cyber Insurance Market Watch Survey, May 2017
Source: CIAB, Cyber Insurance Market Watch Survey, May 2017
22/11/2017 10:03:09 PM
Aggregated threat What happens when a single cyberattack takes down a cloud server, affecting thousands of policyholders at once? IBA talked to brokers and insurers about how the industry is responding to that fear
IT MIGHT be the most worrisome threat to the cyber insurance industry today, for carriers, underwriters, wholesalers and brokers alike: an aggregated outage caused by a web service system crashing, simultaneously plunging thousands of policyholders into the dark. “The risk is for a carrier to have a number of different insureds [that] all use the same cloud provider, and if that cloud provider were to go down, there could be a limits loss for each of those insureds,” says Jason Krauss, cyber and E&O thought and product leader at Willis Towers Watson. “There is obviously a concern. I could see carriers being [kept] up at night worrying about this.”
perspective, it’s a little unclear how many markets actually keep track of how many of their clients rely on the same cloud provider to store their data.” Aggregated risk that hammers a carrier could have trickle-down effects on future policyholders, and it’s a global threat that continues to grow. If a web services provider were to suffer a breach or a failure, how would market policies respond to that? “A number of first-party coverages would likely be triggered, like business interruption and event management coverage, which could cover forensics and public relations expenses,” Krauss says. “And it’s possible you could have third-party coverages as well, which could be regulatory investigations,
“It’s a little unclear how many markets actually keep track of how many of their clients rely on the same cloud provider” Jason Krauss, Willis Towers Watson For brokers, though, while this possibility is something to be considered, it doesn’t change the job of placing insurance. “From our perspective, we just want to make sure the coverage is there for our clients,” Krauss says. “From an underwriting
claims that come in if there’s a privacy event … [and supply chain failures].” On the carrier side of the table, Mike Palotay, chief underwriter at NAS Insurance, agrees that aggregated risk is a frightening proposition.
“Our biggest risk from an aggregation perspective is from what we would call a dependent service provider, like Amazon Web Services or any other large server system,” Palotay says. “A lot of my insureds rely on that service being up in order to do business. So Amazon Web Services has a huge percentage of the market share on cloud computing. My policy will cover business interruption losses of our insureds in the event that they can’t do business because a third-party system that they rely upon goes down. That’s my biggest fear – when one of these huge [third-party] providers that I have thousands of policies relying upon goes down for an extended period of time, it’s going to be a really bad day.” Although Palotay feels NAS is in a good position to deal with such a threat, that
08-09_News Analysis-SUBBED.indd 8
22/11/2017 10:05:21 PM
AGGREGATED RISK BY THE NUMBERS
Number of cloud infrastructure providers that collectively own 80% of the user market share
Percentage of organizations that use cloud services in some form
Percentage of organizations that store private data in a public cloud
doesn’t change what it could mean for the insurer if it happened. “We think we’re priced for it, and we’ve done all the models,” he says. “I don’t want
have this big aggregation risk,” Palotay adds. “It makes cyber difficult to underwrite profitably. But it’s also the fastestgrowing insurance line, so many compa-
“Most of the insurance we write doesn’t have this big aggregation risk. It makes cyber difficult to underwrite profitably” Mike Palotay, NAS Insurance to make it sound like we’re knowingly heading into the abyss, because we’re not – but they are just models. It’s impossible to have perfectly correct models, and you don’t want to put 100% faith in them. “Most of the insurance we write doesn’t
nies are really focused on trying to grow [in this space].” Steven Robinson, who serves as area president for technology and cyber at wholesale brokerage Risk Placement Services, shares the same concerns.
Maximum losses that the financial services sector could suffer from an aggregated hack, according to a Cyence model Sources: McAfee, Lloyd’s, Cyence
“With respect to aggregated risk, what happens if a single event affects thousands of policyholders simultaneously, causing a market disruption of some sort there?” Robinson says. “We’ve seen this some on the retail side and some in healthcare, where you’ve had large breaches, and it’s had a fairly sizable impact. [There’s been] a little bit of firming in process, or you start to see a pullback on terms that are being offered or more intense underwriting. One breach at a central point would have a horizontal effect on the market, and you will start to see [pricing] creep up a bit. We haven’t seen that really yet, but I think it’s inevitable.”
08-09_News Analysis-SUBBED.indd 9
22/11/2017 10:05:32 PM
INTELLIGENCE CORPORATE ACQUIRER
Willis Towers Watson
AmWINS will take on 15 Willis programs involving more than 115 professionals
Arthur J. Gallagher & Co.
Allied Business Network
ABN offers e-commerce access to products and services throughout the US, Canada and Europe
Arthur J. Gallagher & Co.
Reynolds & Rodar Insurance Group
R&R provides a full range of commercial P&C and employee benefits coverage
Arthur J. Gallagher & Co.
Smart Business Savings
The deal gives Gallagher access to SBS’s white-label program, Business Advantage Plus
Hope Aviation Insurance
South Carolina-based Hope offers a wide range of insurance products to the aviation industry
The Hilb Group
This is THG’s 38th acquisition since its founding in 2009 and its first in the state of Delaware
Graffam Insurance Group
Maine-based Graffam specializes in employee benefits
Ryan Specialty Group
Oxford Insurance Services
The Houston-based wholesale insurance brokerage is now part of RT Specialty
Seeman Holtz Property & Casualty
RateGenius Insurance Agency
The agreement will give both Seeman Holtz and RateGenius access to a broader scope of products
Palomar brings earthquake product to new states
Palomar Specialty Insurance has expanded its residential earthquake insurance product, Flex Choice, into six new states: Arkansas, Tennessee, Kentucky, Illinois, Indiana and Utah. Flex Choice allows consumers to secure earthquake coverage specific to their individual needs, offering a variety of coverage alternatives and deductible options for homeowners. “Flex Choice ... allows agents to offer unprecedented bespoke coverage options to their customers via an intuitive and streamlined platform,” said Palomar president and chairman Mac Armstrong.
AmWINS takes over 15 programs from Willis
AmWINS recently finalized its acquisition of 15 specialty insurance programs from brokerage giant Willis Towers Watson. The programs now under the AmWINS umbrella include MountainGuard, which provides underwriting, claims and loss-control services to the majority of ski resorts in North America, and DealerGuard, which provides dealer open lot and comprehensive package coverages for franchised and independent auto, truck, and RV dealers. The addition of these programs – and their 115 employees in offices from Portsmouth, New Hampshire, to Salt Lake City – further positions AmWINS as the leading US-based specialty insurance distribution firm, with more than 4,300 employees across 12 countries and upwards of $14 billion in annual premium placements. “The programs, product expertise and underwriting talent that we are acquiring from Willis Programs will expand and diversify our underwriting division and support our long-term growth strategy to provide niche programs for our retail clients,” said AmWINS CEO M. Steven DeCarlo.
QBE offers specialty cover to smaller companies
QBE North America has announced a new strategic partnership with MGA Professional Risk Facilities [PRF] to offer specialized E&O, liability and cyber coverage. The program will target small miscellaneous E&O, media liability, tech E&O and cyber accounts with a maximum revenue of $5 million. QBE’s internal commercial E&O team will continue to handle accounts with revenue over $5 million, along with more complex smaller accounts. “The partnership between PRF and QBE delivers a powerful opportunity to expand QBE’s current distribution of our commercial E&O products,” said QBE North America’s Erin Fry.
22/11/2017 10:07:46 PM
PEOPLE California pot industry gets its first insurer
California Insurance Commissioner Dave Jones has approved the filing of Golden Bear Insurance, the state’s first commercial insurance company covering the cannabis industry. Golden Bear can now begin writing policies and offering coverage for cannabis business owners. Its launch is the result of an initiative spearheaded by Jones earlier this year to encourage commercial insurers to fill insurance coverage gaps in California’s legal cannabis industry. “Our mission remains insurance protection for all Californians, which includes insurance for California’s legalized cannabis businesses and customers,” he said.
At-Bay seeks to disrupt the cyber insurance market
At-Bay, a new cyber insurance company, was launched in November with a mission to “redesign [cyber] insurance” and empower organizations and brokers to confront today’s dynamic risk landscape. The California-based startup’s team of cybersecurity experts constantly underwrite and reassess cyber risk in an active risk management program. For brokers, At-Bay offers a digital platform that combines its insurance product with risk insights, including case studies and benchmark data, to help brokers foster a more insightful conversation with their clients.
Mutual marine insurer expands to North America
Mutual marine insurer West of England is growing its presence in North America with a new office in New York. The US office, led by Paul Barnes, will work in conjunction with the company’s Londonbased claims, underwriting and loss prevention teams to service North American members while also exploring new relationships with brokers and shipowners. West of England provides its global membership of shipowners, charterers and operators with liability insurance and related services, and also has offices in Hong Kong, Greece, Singapore and Luxembourg.
Axis Capital Holdings
CEO of Axis Re
DUAL North America
Chief financial officer
Chief operating officer
Director of client services
Kristin D. McMahon
Head of US claims
American Council of Life Insurers
Global Bankers Insurance Group
Head of government relations
John C. Roche
Hanover Agency Markets
The Hanover Insurance Group
President and CEO
Swiss Re Corporate Solutions
Head of casualty, financial and professional services, North America
CEO, International General Insurance
Worldwide Facilities names new COO
National wholesale broker and MGA Worldwide Facilities has appointed Cameron Kelly as its new chief operating officer. Kelly has been part of the Worldwide Facilities team for 11 years. Prior to taking on the role of COO, he served as the company’s CFO. He’s also held a number of management roles in both wholesale distribution and underwriting. “Cameron’s knowledge of our industry, operational experience, and financial background and acumen are a very relevant skill-set combination that will help us continue to drive the growth of the company,” said Worldwide Facilities president Ron Austin.
Global Bankers taps industry vet to lead government relations
Global Bankers Insurance Group has named industry veteran Rod Perkins as its new head of government relations. Perkins has more than 25 years of industry experience in government relations, product policy, regulatory and compliance functions. Before joining Global Bankers, Perkins served as vice president of insurance regulation for the American Council of Life Insurers. Prior to that, he spent 17 years with Genworth Financial, where he served in various roles, including chief compliance auditor, chief compliance officer for long-term care insurance and vice president of government relations.
22/11/2017 10:07:56 PM
WORKERS’ COMP UPDATE
Will medical inflation derail workers’ comp? Long considered a stable line of business, workers’ comp is being challenged by rising medical costs
tion insurance. Indemnity payments increase due to higher wages, and medical payments increase due to rising costs of care and prescription drugs. As medical claim amounts continue to outpace indemnity losses, insurers have tried to respond to the growing trend in various ways, such as establishing pharmacy and vendor networks or pushing for legislative changes – but Stevens says more could be done.
“If claims costs continue to rise, the question is whether or not the loss costs ... can reflect that inflation fast enough”
Workers’ compensation insurance has been deemed by some carriers as a predictable busi ness to write in the US – it’s mandatory in all 50 states and has been fairly profitable for a number of years. However, rising medical costs are squaring up to the rather sluggish workers’ compensation market and challenging it to react – and the insurance industry must work hard to ensure it doesn’t get left behind. “Medical inflation is a big driver of bodily injury costs, whether it’s in liability lines or workers’ compensation insurance,” says
Jennifer Stevens, SVP and US casualty treaty underwriting manager at Swiss Re. “In the past it has been quite a benign environment, and then in 2013 we saw an increase in total medical cost exposure in the US for the first time in about 10 years. Total medical cost expenditure went up about 2% in 2013, and then it jumped to about 6% in 2015/16. We think the total expenditure is going to remain at or around that level going forward.” Rising inflation affects both indemnity and medical payments under workers’ compensa
CNA launches online quoting service for small businesses
CNA has introduced a new online service that enables small business owners to receive a premium indication for a CNA Connect business owner’s and workers’ compensation policy almost immediately. The new feature provides SMEs with “simplified access to independent agents for their business insurance needs,” according to the company. “The small business marketplace is expanding rapidly, and CNA is committed to serving small business owners in a manner that meets their expectations,” said CNA SVP John Hennessy.
“Workers’ compensation indemnity comp ensates injured employees for lost wages and lost time,” she says. “If claims costs continue to rise, the question is whether or not the loss costs in a 50-state workers’ compensation envi ronment can reflect that inflation fast enough.” One factor driving medical cost inflation is the aging population. As the US workforce gradually gets older, the average amount of post-injury recuperation increases, and so does the amount of additional medical treatment required. While this trend isn’t going away, “in the past few years, workers’ compensation results in the US have been pretty good on the whole,” Stevens says. “Of all the casualty lines, workers’ compensation has performed well and has faced the least amount of rate pressure – but of course, things can always change.”
Florida orders decrease in workers’ comp rate
Florida Insurance Commissioner David Altmaier has ordered a statewide workers’ compensation rate decrease of 9.8%, slightly higher than the 9.6% drop suggested by the National Council on Compensation Insurance. Rates in the state increased by double digits this year in the wake of two 2016 court decisions. “While some of the experience used as the basis for this filing occurred before the recent Florida Supreme Court decisions,” the order said, “a portion of the experience period includes claims that occurred after the decisions.”
12-13_Workers comp-SUBBED.indd 12
22/11/2017 10:09:50 PM
Phil Kalin President and CEO
Making workers’ comp a piece of cake
Years in the industry 4 Career highlight Before he entered the insurance industry, Kalin spent 20 years running hospitals in Cleveland, Detroit and Denver
What is Cake, and why should brokers be interested? Brokers are 90% of our book, and they tell us they prefer to spend time on bigger clients who value a high-touch relationship. Oftentimes they send small businesses directly to us. But the experience for these direct purchasers was pretty cumbersome. So we created Cake – a digital platform designed to provide speed, ease of use and control for small businesses that are not represented by an agent. The platform uses advanced analytics and artificial intelligence to let the customer buy a policy in three to five minutes. Even though the Cake platform is not geared to agents, we’re deploying its underlying digital capabilities on behalf of Pinnacol’s agents and their customers.
What advantages does this digital platform offer? We want to make workers’ comp a ‘piece of cake’ for small businesses. Cake’s mobile-first website provides rapid quoting and buying, simplified policy management, elimination of paper forms and signatures, and support via website, text, and chat. In short, it offers the simple, digital experience many of our customers demand. Going forward, we’ll be adapting these innovations for our agents as well.
Does the workers’ comp sector lend itself well to digital platforms? For years, personal lines have moved toward fast, easy
Ex-Zurich employee sentenced for claims payout theft
A former employee of Zurich American Insurance has been sentenced by a federal judge for stealing $21,830 from the company. Brenda Lee Hilton had been a claims specialist with Zurich for 18 years, where she was charged with managing and authorizing payments on workers’ compensation claims. According to investigators, beginning in 2012, Hilton submitted duplicate claims for a client and then pocketed the extra payout. Hilton will spend the next two years on probation and was also ordered to pay back the money.
digital solutions, yet workers’ comp has lagged behind. The industry is ripe for innovation, especially for small businesses. Consumers are ready for a simple, self-service model, and they want a seamless digital experience.
What are some of the toughest challenges in the workers’ comp sector, and how can technology help? Workers’ comp customers are increasingly young and tech-savvy. Bear in mind that millennials and gen x-ers are expected to own 60% of all US businesses by 2020. These customers demand greater speed and simplicity than commercial insurers provide today. Technology like big data and AI is helping Pinnacol, through Cake, to better understand the customer journey, identify their pain points and provide effective solutions.
Are there any other issues you believe brokers should be aware of in the workers’ comp market going forward? The trend in virtually every industry in which there’s an intermediary – including insurance – is increased pressure to demonstrate value. It doesn’t matter if you’re in the hotel business or workers’ comp, it’s critical to focus on the voice of the customer. Solutions can come from technology or process improvements, but they must come. Customers have shown that if we don’t evolve, they’ll move on.
Construction company owner arrested for scam
The owner of a Florida construction company has been arrested on suspicion of obtaining a fraudulent workers’ comp policy. Carlos Contreras, owner of DJC Builders & Construction, allegedly underreported the number of staff he employed, his company’s annual payroll amount and its scope of work, which enabled him to avoid paying more than $1 million in premium payments. Contreras claimed his company’s annual payroll was $273,786, but investigators discovered he had cashed nearly $6.5 million in payroll.
Connecticut workers’ comp rates drop again
Workers’ compensation insurance rates in Connecticut have fallen for the fourth straight year. The state’s insurance commissioner, Katharine L. Wade, said that the Insurance Department approved a 14% decrease in rates, following an 11% reduction in 2016. “This is good news for employers,” Wade said. “The continued decrease is a result of the reduction in the number of workplace injuries and claims filed. Additionally, the average medical cost per claim has moderated in recent years.”
12-13_Workers comp-SUBBED.indd 13
22/11/2017 10:10:25 PM
TECHNOLOGY UPDATE NEWS BRIEFS Audatex introduces vehicle diagnostic tool
Insurance claims solutions provider Audatex has launched a diagnostic tool designed to perform thorough checks on a vehicle’s onboard computer systems. The Audatex Vehicle Health Check “delivers comprehensive and accurate full system scans of the computer systems in today’s vehicles to ensure their operability before putting them back on the road after a collision or mechanical repair,” the company said. The tool is synced with Solera’s Identifix database, allowing users to leverage the experience of more than 60,000 participating repair shops and more than 80,000 technicians.
QBE partners with machinelearning company
QBE Group’s venture capital arm has invested $50 million into RiskGenius, a machine-learning company that helps carriers, brokers and regulators analyze policy and endorsement language to aid in product development. QBE expects the technology to improve its speed to market for new products, deliver new policy insights and streamline the policy review process. “Over time, the benefits to QBE will only increase as RiskGenius further enhances its proprietary machine-learning platform and overall product capabilities,” said Bob James, group head of transformation for QBE.
Willis increases speed of modeling software
Willis Towers Watson has updated its Emblem predictive modeling software to allow users to model complex customer behaviors with greater speed and pricing accuracy. The company said the update – which is 20% faster than the previous
version on rich data sets – will allow insurers to fit models to data sets in seconds. “This substantial improvement helps companies more accurately model complex customer behaviors with multiple outcomes,” said David Ovenden, global director of pricing product claims and underwriting. “The ability to predict the purchasing behavior of customers presented with such propositions offers insurers a real commercial edge when operating in competitive markets.”
Progressive’s Flo comes to life as a chatbot
Progressive Insurance has brought Flo, the saleswoman character from its TV commercials, to life through an auto quoting chatbot. Flo can now reply to customers on Facebook Messenger via her Facebook fan page. Progressive said the Flo Chatbot makes it the first major insurer to allow users to conduct the auto insurance quoting process via Messenger. If the chatbot can’t answer a customer’s question, a Progressive representative will pick up the conver sation, either through a message or a phone call.
Insurance confusion grounds police drone
Officials of Moody County, South Dakota, are looking at how to best use drone technology to help both law enforcement and emergency responders, but have been stymied by the insurance costs involved. Local police and emergency responders recently discussed the value of having a county-use drone, concluding that drones could “save a lot of hassle” but are expensive and difficult to insure. County commission assistant Marty Skroch found that a county policy would only cover county use of the drone; a fire or police department would have to secure its own insurance policy.
Telematics as a tool for brokers Today’s telematics programs don’t just benefit insurers – they’re also providing brokers a new way to connect with clients Insurance brokers have been slow to embrace telematics, but the technology can actually help brokers and agents increase their value proposition to customers, says David Lukens, director of telematics at LexisNexis Risk Solutions, which recently launched the LexisNexis Telematics Exchange to improve the usage-based insurance [UBI] driver experience. “As connected car data becomes more ubiquitous, more options will become available for insurance brokers,” Lukens says. “It’s another tool in the broker toolbox to help connect the customer with the right insurance carrier and program to best suit their needs.” So far, connected car programs have primarily been centered around UBI, offering little in terms of value-added services that brokers could apply, but that has changed, according to Lukens. Not only can connected systems help brokers direct clients toward lower policy rates, but the data dished out by auto telematics systems can also be an excellent communication tool. “Telematics data is a great basis to help brokers through difficult conversations with their customers,” Lukens says. “When a young driver gets a first driver’s license, that can be a huge moment of rate shock for many parents. This is a great tool to help policyholders manage the insurance costs
14-15_Tech update-SUBBED.indd 14
22/11/2017 10:11:23 PM
of a young driver, as well as giving those parents the ability to help coach and guide the driving of their child as they’re learning to drive and developing good habits.” There also has been increased interest in telematics among people with elderly parents, whose driving skills are maybe not as sharp as they used to be – a conversation that can be difficult for both families and brokers to manage.
“Telematics data is a great basis to help brokers through difficult conversations with their customers” “Brokers can use telematics data to sit clients down and explain what their driving habits look like in terms of speeding, braking and reaction times,” Lukens says. “They can explain why clients’ rates are rising and tell them what they need to change in order to get better rates. “If a broker or agent is educated, reactive and knowledgeable, they can give some really great tools to their customers at these different life stages to help them out,” he adds. “If I were an agent, I would like to be able to advise customers in that way.”
Daniel Cunningham Founder and CEO LEONARDO247
Years in the tech industry 5 Fast fact Cunningham originally developed Leonardo247 as in-house software to streamline the processes of his property management company
Tech that can cut property premiums What is Leonardo247? Leonardo247 is a cloud-based performance management software system that takes a company’s policies and procedures and builds a database and workflow that automatically creates daily guidance for teams in the field. Our machine-learning module can automatically monitor the compliance requirements of any city, county or state municipal code. The platform also tracks internal documents such as contracts, certifications, and insurance policies, notifies when expirations are approaching, and pushes actionable instructions out to the right people at the right time.
How can Leonardo247 save real estate companies money on insurance? With better execution of risk-mitigation plans, partners of ours, such as Willis Towers Watson, have established that Leonardo247 clients can see reductions in losses of up to 40%. As a result, they have been able to negotiate reductions in premiums of up to 20%. The savings are typically far more than the cost of our program.
What benefits does it bring to insurance brokers? Brokers gain an edge over competitors by partnering with Leonardo247 to negotiate significant reductions in rates and add value to their client engagement by providing a system that solves a major pain point in overall operations. We’ve had instances where brokers could retain clients that might have otherwise been dropped or forced to go to the secondary market for coverage due to excessive claims. By agreeing to implement Leonardo247, clients struggling with losses can alleviate the insurance carrier’s concerns over lack of oversight.
How can management software like Leonardo247 increase workplace efficiency? Leonardo247 tracks the minutiae. It becomes the operations expert that provides consistency and accountability so teams can focus on getting things done. Robust reporting offers real-time visibility into everything happening – or not happening – at any individual community, allowing executives to dive in when they see a problem.
How can AI and technology help brokers reduce property premiums for their clients? By reducing exposure to risk. AI can take into account all of the factors affecting a property – equipment, amenities, exposure to natural hazards, construction types, local code governance, etc. – and automatically generate a unique risk-mitigation profile that ensures compliance with all of the applicable best practices and then watches for deviations that expose a property to liability.
14-15_Tech update-SUBBED.indd 15
22/11/2017 10:11:32 PM
AT THE FOREFRONT OF CHANGE Trevor Maynard, head of innovation at Lloyd’s, talks about working to ensure that insurance can keep up with the ever-evolving global risk landscape
IN 1688, Edward Lloyd’s London coffeehouse was as a hub for information regarding shipping. The evolution of Lloyd’s over the next three centuries consolidated its status as the center of the global insurance market. But despite its storied history, Lloyd’s is hardly encumbered by its past. On the contrary, the Lloyd’s team works tirelessly to ensure it remains at the forefront of innovation, and Trevor Maynard heads up the team charged with those endeavors. “We’re trying to create an environment where innovation can flourish in the Lloyd’s market,” Maynard says. One of his innovation team’s chief responsibilities is horizon-scanning, and that has produced a great deal of information on emerging risks. “We’ve done reports on liability exposure management, which is a really tough problem in the insurance industry,” Maynard says. “We can do natural catastrophe exposure management very easily now – there are lots of great models – but liability is a lot more difficult.” This year, Lloyd’s published a report, in collaboration with Arium, that set out a new data-driven methodology allowing insurers and reinsurers to model liability exposure probability across their entire portfolios – something the insurer says was previously not possible. Maynard also points to the efforts of Lloyd’s data lab team in exploring new technologies. “They’ve been looking at various
proofs of concept, [focusing on] things like artificial intelligence,” he says. In addition to the work Lloyd’s itself is undertaking, Maynard says the insurer encourages the market, giving other companies space to lead innovation. “We’re trying to understand how the new economy is going to function in a highly digitized and connected world,” he says, “and then thinking about the products the insurance industry needs to offer in such an environment.”
it assumes everyone will do the things they said they would do.” Referencing the pledge in the agreement to cut greenhouse gas emissions with a view to capping global warming at 3 degrees Celsius, Maynard says, “We really need to get it down below 2 degrees to avoid some very nasty effects – starting now, but getting worse and worse this century.” Naturally, cyber risk is also a major focus for the innovation team at Lloyd’s. “Cyber insurance is one of the big ones that we’ve
“We’re trying to understand how the new economy is going to function in a highly digitized and connected world, and then thinking about the products the insurance industry needs to offer in such an environment” Key concerns In terms of emerging risks, Maynard cites climate change – a risk he’s been watching closely for the past 12 years – as the one that concerns him most. “The world is rapidly changing, and you’ve got perils that have been known about for years, but they’re becoming more destructive,” he says. “Climate change is affecting the strength of hurricanes, we firmly believe. Although we have the Paris Agreement, it still doesn’t go far enough. And, of course,
been involved in in recent times,” Maynard says. “Lloyd’s is certainly one of the largest providers of cyber insurance in the world, and if you look at our list of outputs, we’ve produced a whole string of work on cyber to try to quantify the risk.” That work includes the 2015 Business Blackout report, a joint effort with the University of Cambridge’s Centre for Risk Studies, which analyzed the insurance implications of a major cyberattack on the US power grid. It estimated the total impact
16-18_Industry Icon-SUBBED.indd 16
22/11/2017 10:12:20 PM
PROFILE Name: Trevor Maynard Company: Lloydâ€™s of London Title: Head of innovation Based in: London Fast fact: Maynard has a masterâ€™s degree in pure mathematics from the University of Warwick and a PhD in statistics from the London School of Economics
16-18_Industry Icon-SUBBED.indd 17
22/11/2017 10:12:36 PM
on the US economy of such an attack would be $243 billion, but it could hit more than $1 trillion in the most extreme version of the scenario. More recently, research by Lloyd’s and Cyence detailed that a cyberattack could potentially trigger $53 billion of economic losses – roughly equivalent to a natural catastrophe along the lines of 2012’s Superstorm Sandy. “The key thing that came out of that report was how much of [the risk] was not insured,” Maynard says. “It was only about 10% that was insured.”
“It’s exciting times,” he says. “We think it’s very important as a group that we horizonscan, because if you want to be ready for a society in five to 10 years, you need to start changing now and anticipating it.” The Internet of Things is a major focus for Lloyd’s, which plans to publish a report next year devoted to the subject. Maynard’s team will also pursue further work around the sharing economy and look at developments in the mining industry. “They’re innovating themselves,” he says, “and we think it’s useful to draw the attention of the market to that.”
“We think it’s very important as a group that we horizon-scan, because if you want to be ready for a society in five to 10 years, you need to start changing now and anticipating it” Insuring drones is another subject that has been occupying the attention of Maynard and his team, along with the risks associated with the sharing economy. “We’re also looking at new ways of working – it’s not just about products,” he says. “For example, electronic placement has been a big project to try to streamline the placement of risk at Lloyd’s, and that’s now up and running. We’ve got 90 underwriting firms on there and 25 brokers. So people are starting to adopt it, and many risks have been bound through this live system. That’s a pretty big innovation and something that we hope will continue to grow.”
The future of innovation Looking ahead, Maynard says Lloyd’s has a lot in the pipeline.
And then there’s the challenge of the insurance gap. “For a lot of countries in the world, when disaster strikes, only a tiny fraction of that is insured, particularly in developing countries,” Maynard says. “I’d personally love to see a bigger insurance market globally providing protection to those countries because, if anything, they have even more to gain through risk transfer. Sometimes their economies are set back a decade or so by a major disaster, whereas if they had insurance, they would be up and running again and continuing to develop straight afterwards.” For Maynard, staying on top of these issues and designing solutions to address them is all part of ensuring that the Lloyd’s name remains synonymous with insurance three centuries from now.
A HISTORY OF INNOVATION AT LLOYD’S
Underwriters at Lloyd’s become the first to offer car insurance
Lloyd’s writes the first-ever aviation insurance policy
Silent film star Ben Turpin buys an insurance policy with Lloyd’s, payable if his trademark crossed eyes ever uncross
The first space satellite insurance is placed at the Lloyd’s market, covering physical damage to the Intelsat 1 on pre-launch
Soccer superstar David Beckham insures his legs for £100 million
16-18_Industry Icon-SUBBED.indd 18
22/11/2017 10:12:44 PM
GOT AN OPINION THAT COUNTS? Email email@example.com
A false sense of security For the NFIP to survive, writes Steve Linkous, rates have to align more closely with risk
THE DISASTROUS 2005 hurricane season overwhelmed the National Flood Insurance Program, exposing its glaring structural flaws as it racked up billions of dollars of debt to taxpayers. Since then, every effort to reform the program has run into the challenge of balancing the NFIP’s financial needs against ensuring that coverage remains affordable for those who need it. So, what has happened in the years since 2005? After several false starts, 2012 saw passage of the Biggert-Waters Act. That legislation, which reauthorized the program for five years, enacted meaningful reforms to put the NFIP on a path to fiscal stability, if not solvency. Under the law, subsidies would gradually be phased out, and new policies would be priced to match a property’s flood risk. Additionally, the program gained the authority to non-renew coverage for properties that flooded repeatedly unless the owner agreed to loss prevention measures. Unfortunately, as word of rate increases spread, exacerbated by speculative and often hyperbolic news reports, Congress’ resolve quickly weakened, and many of the reforms were ultimately undone in the name of affordability. Heading into 2017, we were back where we started. So, after more than a decade, what have we learned? The problems facing the NFIP are well known at this point. Many NFIP policies are priced below – in some cases, far below – the actual risk of flood loss to a property, and the program has little authority to reject applicants or cancel coverage, except in the most extreme cases. These NFIP policies
are often referred to as ‘subsidized,’ but even this is a misnomer. Unlike an actual subsidy, where the government would pay a portion of the premium, the NFIP is required to charge artificially low rates, and the deficit is simply ignored. Worse yet, the policyholder isn’t told what their actual rates – or actual risk of flooding – are, creating a false sense of security. The NFIP has no reserves, by law, and has only been allowed to purchase reinsurance in the past year. On top of that, the program continues to carry billions in debt
but those who can pay risk-based rates – such as those with multimillion-dollar beach houses – should pay them. And where Congress can’t or won’t address the rate side of the risk/rate equation, it can address the risk. The current federal policy when it comes to flooding – or any natural disaster – is to hope for the best, rebuild after the worst and then hope for the best again. To put this into perspective, between 2004 and 2013, the Federal Emergency Management Agency spent 89 times more on post-disaster aid than on pre-disaster mitigation efforts. As a nation, we will always come to the aid of the victims of natural disasters, but we can and should do more to help prevent them from becoming victims in the first place. In addition to directly investing in mitigation, Congress can also implement much-needed policies to help states, communities and individual citizens better protect themselves from nature’s fury. I recently finished my term as chairman of the National Association of Mutual Insurance Companies, and as part of my duties, I testified before a congressional committee on the current problems with federal disaster policy and how they can
“The politics of keeping rates low is a difficult challenge, but the financial reality is getting increasingly hard to ignore” that it will likely never be able to pay off. In the wake of September’s devastating hurricanes, the Trump administration sought to forgive more than half of the NFIP’s then $30.4 billion in debt, but only as a means of creating more space for the program to borrow from the Treasury and remain under its statutory debt limit. For the NFIP to survive, or at least for things to stop getting worse, rates are going to have to align more closely with risk. As we saw in 2014, the politics of keeping rates low is a difficult challenge, but the financial reality is getting increasingly hard to ignore. There will always be some who need assistance, and the government can and should provide that help in a transparent fashion,
be addressed. In my testimony, I outlined a national mitigation investment strategy that would incentivize states to enact muchneeded reforms, such as adopting and enforcing modern building codes – including elevation standards and land-use policies – which would reduce the impact of floods and other natural disasters. Combined with forward-looking, proactive federal investment, these policies would reduce the need for federal disaster aid and, more importantly, save lives and property. Steve Linkous is president and CEO of Harford Mutual Insurance, a regional P&C provider. He is only the 10th president in the company’s 175 year-history.
22/11/2017 10:13:23 PM
SPECIAL REPORT Insurance Business America
2018 Discover the 100 insurance professionals who are turning up the heat, challenging the status quo and redefining the insurance industry INDEX BY COMPANY COMPANY
Appalachian Underwriters Inc.
Agency Network Exchange LLC
John K. Tiene
Arch Insurance Group Inc.
Cunningham Lindsey Group
Assurance Agency Ltd.
Eagan Insurance Agency LLC
Andrew L. Eagan
Eagan Insurance Agency LLC
Cindy G. Paulin
Esser Hayes Insurance Group Inc. Tamara A. Knight
Everest Insurance Company Ltd.
Falls Lake Insurance Companies
Steven J. Hartman
Granite Insurance Agency Inc.
Great American Insurance Group
Emily H. Brooks
Daniel J. Kaufman
AssuredPartners of Missouri
Alliance Insurance Group/ AssuredPartners
Baldwin Krystyn Sherman Partners
Alliant Insurance Services Inc.
Beacon Hill Associates Inc.
Allianz Global Corporate & Specialty
Beacon Hill Associates Inc.
Bolton & Company
Allied World Assurance
Bolton & Company
Alper Services LLC
American Risk Management Resources Network LLC
Brown & Brown of Illinois Inc./ Weible & Cahill
AmWINS Brokerage of the Midwest LLC
Brown & Riding Insurance Services Inc.
Burns & Wilcox
AmWINS Group Inc.
Burns & Wilcox
Blaise S. Dâ€™Antoni III
H.W. Kaufman Group/ Burns & Wilcox
Burns & Wilcox Brokerage
Barry L. Whitton
The Hanover Insurance Group
John C. Roche
Dorothea P. Westin
Susan L. Johnson
Nichole Barnes Marshall
Capitol Special Risks
20-55_Hot 100-SUBBED.indd 20
22/11/2017 10:16:11 PM
T 10 HO
2018 HEADING INTO 2018, the insurance industry is leaving behind a year of tragedies and victories – the country entered a new presidential administration and experienced history-making natural disasters, along with other national and global calamities that have disrupted industries of all shapes and sizes. Yet, despite ever-changing policies and economic conditions, the industry remains strong and steady. In its fifth year, IBA’s Hot 100 list pulls together insurance professionals who stood above the crowd in the past 12 months. You will meet the head of the rare entirely female-run insurance firm; you’ll be introduced to executives who are championing diversity and inclusion initiatives, as well as a CEO who was instrumental in his company earning its own day in his state. From a pool of hundreds of nominations, IBA narrowed the list to these 100 professionals. From industry tycoons and fresh new talent to innovators and entrepreneurs, they are a true reflection today’s evolving insurance industry.
KENDALL McEACHERN CEO ACENTRIA INSURANCE
Kendall McEachern has grown Acentria Insurance from 25 employees, one location and $5 million in revenue to more than 26 locations and a projected $32 million in revenue for 2017. McEachern has been instrumental in developing board trainings for multi-family condo boards, property managers and apartment communities. These trainings include coverages, drone policies to protect all parties involved, responsibilities/roles of board members and ways to avoid troublesome issues that could result in legal action. McEachern also works with his apartment-community and multi-family clients to develop master schedules to attract additional revenue, tapping into his agency’s marketing resources to develop co-branded promotional materials.
Risk Placement Services Inc.
Marsh & McLennan Agency LLC
Marsh & McLennan Agency LLC
Scott R. Konrad
The IMA Financial Group Inc.
Independent Insurance Agents of Denise Johnson Oklahoma
Patrick G. Ryan
Munich Reinsurance America Inc. Jill Beggs
Ryan Specialty Group LLC
Independent Insurance Agents of Matt Banaszynski Wisconsin
Nationwide E&S/Specialty 45
Insurance Risk Managers, a division of Troxell
Insurance Technologies Corporation
JAG Insurance Group
K&K Insurance Group Inc.
Sara Von Tersch
Socius Insurance Services Inc.
Norman-Spencer Agency Inc.
Specialty Program Group
Swiss Re Corporate Solutions
Tangram Insurance Services
USI Insurance Services
Michael J. Sicard
Wholesale & Specialty Insurance Association
Wholesale & Specialty Insurance Association
Ronald E. Davis
Philadelphia Insuranace Companies
PrimeGroup Insurance Services
Stacey A. Owen
Keenan & Associates Inc./ AssuredPartners
Sean K. Smith
Private Risk Management Association
Lechner & Stauffer Inc.
David S. Kauffman
Property Casualty Insurers of America
Liberty Mutual Insurance
20-55_Hot 100-SUBBED.indd 21
22/11/2017 10:15:35 PM
MEGAN BOSMA Senior vice president MARSHBERRY
CHRISTOPHER McKEON Head of commercial casualty
Megan Bosma is revolutionizing how insurance executives use data by providing them access to real-time analytics to benchmark themselves against their peers in their community, their region and nationally. With a goal of turning data into knowledge, Bosma is driving MarshBerry’s proprietary benchmarking software, Perspectives for High Performance, along with data warehouse development and management, data storage retrieval, and data reporting capabilities. Through her leadership, the aggregate revenue collected, analyzed and used for consulting has impacted more than $5 billion of annualized revenue and 1,200plus clients across the US and Canada. Bosma has also been instrumental in MarshBerry’s thought leadership initiatives, resulting in market research reports on agency and broker and alternative risk distribution, as well as more than 1,100 public speaking engagements, webinars and articles on topics such as growth, profitability, consolidation, organic growth initiatives, compensation and other critical strategic initiatives for the insurance industry.
EVEREST INSURANCE COMPANY
NICK RALLO Principal ASSUREDPARTNERS OF MISSOURI
In March 2017, Christopher McKeon joined Everest Insurance as the leader of its newly launched commercial casualty unit, charged with establishing and building its uppermiddle-market primary casualty underwriting operations. Since the group’s inception, McKeon has successfully assembled a team of talented underwriters and attracted customers by providing a broad range of program structures and tailoring industryspecific coverage and service enhancements. His efforts have helped Everest Re Group work toward its goal of expanding and diversifying its US insurance operation, with a focus on both guaranteed-cost and loss-sensitive buyers, and catering to clients in the hospitality, food and beverage, manufacturing, and M&A spaces. Outside of the insurance industry, McKeon is actively involved in the Knickerbocker Greys, the oldest children’s after-school activity in New York City, having been on the board of directors and served as secretary. He is also highly engaged with the Union League Club of New York, participating in various leadership committees, including the board of governors.
Nick Rallo launched his insurance career after a decade of working as a construction project manager. He earned his property & casualty and life & health licenses in 1997 and quickly rose through the ranks to hold numerous leadership positions at his previous agency. In December 2011, Rallo brought his expertise in construction and manufacturing to AHM Financial Group, which was acquired by AssuredPartners in 2013. Rallo continues to serve as a principal for the company and as a co-leader of AssuredPartners’ alternative risk financing group, specializing in memberowned group captives. During his tenure at AssuredPartners, Rallo has repeatedly qualified for the AP All Pros Sales Celebration. He has received a number of awards, including the AP of Missouri P&C Producer of the Year Award and the AP National Sales Award for P&C Play of the Year. He was also an inaugural member of the AP Chairman’s Club.
20-55_Hot 100-SUBBED.indd 22
22/11/2017 10:15:03 PM
T 10 HO
DANIEL J. KAUFMAN Senior vice president of corporate growth H.W. KAUFMAN GROUP/BURNS & WILCOX
A third-generation leader, Daniel Kaufman is proudly following in the footsteps of his father and grandfather as he continues building the Kaufman legacy. He has established himself as an invaluable asset at H.W. Kaufman Group and its largest subsidiary, Burns & Wilcox. Under his direction, Burns & Wilcox’s Chicago office experienced a 250% increase in revenue
in five years. During his tenure there, he also developed a team of young insurance professionals who have learned to embrace technology and deliver unmatched risk management expertise. At Burns & Wilcox, Kaufman has worked tirelessly to foster an attractive atmosphere for employees by establishing a strong company culture and introducing professional development programs such as the industryleading Kaufman Emerging Leaders Program, which is aimed at developing recent college graduates within the organization. The company’s leadership training and advanced
management programs have graduated more than 275 team members. In his current role as senior vice president of corporate growth and a member of H.W. Kaufman’s board of directors, Kaufman is actively driving the company’s global growth strategy. H.W. Kaufman Group has made 16 acquisitions since 2010 and now has more than $2 billion in premium across 60 offices in the US, Canada and the UK. Kaufman is currently working with the executive team on partnership development and to evaluate acquisition opportunities.
20-55_Hot 100-SUBBED.indd 23
22/11/2017 10:15:13 PM
STEVE BROCKMEYER President and CEO BOLTON & COMPANY
For the past 25 years, Steve Brockmeyer and his team at Bolton have been focused on providing insurance and risk management solutions to middle-market and larger firms. Brockmeyer has served on the board of governors for the Western Association of Insurance Brokers and on the
JEFF CUNNINGHAM Director of underwriting AMERICAN RISK MANAGEMENT RESOURCES NETWORK
CAMERON ANNAS boards of IBA West and the IBA West Service Corporation. He has also been selected as board member and officer of the Council of Insurance Agents and Brokers. Brockmeyer’s other community involvement includes being an active member and past chairman of the San Gabriel Valley chapter of the Young Presidents Organization and a member and past chairman of the board for AbilityFirst, a nonprofit focused on serving and supporting adults and children with disabilities.
Jeff Cunningham joined ARMR, the MGA for Berkley Specialty, in early 2017; within his short time there, he has been able to grow the MGA by 20%. Cunningham credits his success to having been given the platform and resources needed to shape the company with his vision, and he is keen for ARMR to continue growing within the environmental insurance space. As director of underwriting, he leads a team of underwriters who allow him to focus on marketing and growing the company to its full potential. Prior to his role at ARMR, Cunningham worked in New York City for large retail brokers such as Marsh, Willis and HUB International as an environmental insurance broker, helping Fortune 500 companies with environmental insurance placements. His most recent job involved creating an environmental division at a smaller wholesale broker in the Miami area.
VP of business development GRANITE INSURANCE AGENCY
Cameron Annas has spent the past four years developing, leading and growing the adventure sport division at Granite Insurance. Even though he’s just 26 years old, through his passion for this niche, Annas has led the company to become a leader in providing risk management and insurance solutions to the adventure sport industry across the US. The division currently serves clients in more than 40 states with coverage for ziplines, challenge/ropes courses, whitewater rafting, mountain coasters and other adventurerelated activities. Annas was the winner of his company’s Keystone Thoroughbred Award for 2015 and 2017 as a leading producer in North Carolina. He is also actively engaged in promoting the industry to students and currently serves as the agency’s internship coordinator. Annas has also created a unique recruitment tool for the risk management and insurance program at Appalachian State University for his agency’s franchise group, Keystone Insurers Group. The Keystone Challenge event invites around 20 students a year to participate in an aerial adventure activity alongside seasoned industry professionals, which allows for creative interaction between the recruiting team and students, and enables the company to assess potential candidates based on their problem-solving skills.
20-55_Hot 100-SUBBED.indd 24
22/11/2017 10:15:20 PM
T 10 HO
DANIEL LAZARZ Director, professional services group CRC SWETT
Daniel Lazarz has been in the management and professional liability space for more than 15 years, working in everything from underwriting, marketing and business development to retail and now wholesale brokering. “No matter the role, I have always put my best effort out there, tried to learn something new every day and be a resource to others by working hard and sharing that knowledge gained through the process,” Lazarz says, which is why he engages with various industry groups to learn about best practices in risk management and works to develop continuing education material for retail agents.
In his current role at CRC Swett, Lazarz provides management and professional liability wholesale brokerage services and consulting to more than 500 retail agents. “It’s not just about the placement of insurance, but becoming a value-added partner to my retail agents and making sure my service and end product exceed my theirs and their clients’ needs and specifications,” he says. Lazarz also assists retail agents with presentation of terms, creating sales materials they can use and providing discussion of product details, whether for a nonprofit opportunity or a large publicly traded risk. Lazarz is a member of the Professional Liability Underwriting Society and of Infragard, a partnership between the FBI and members of the private sector that serves as a vehicle for seamless public-private collaboration to protect critical infrastructure and advance national security.
BILL BOHSTEDT Vice president, mergers and acquisitions GALLAGHER
MICHAEL J. TIGHE
Since 2007, Bill Bohstedt has been responsible for developing and closing agency purchases for Gallagher throughout the US. He has also built out a team of regional M&A specialists to identify and foster relationships with potential merger partners. Bohstedt began his insurance career as an underwriting trainee at Fireman’s Fund before joining Gallagher as a producer in 1978. He was named area president of Gallagher’s Orange County, California, branch in 1987 and was appointed to lead Gallagher’s global accounts division six years later. In 2011, Bohstedt was promoted to corporate vice president of Gallagher.
Senior vice president BEACON HILL ASSOCIATES
Michael Tighe joined Beacon Hill Associates in 2001 and now runs the brokerage’s Northeast region operations. Tighe specializes in writing environmental and energy coverage for agents and has helped the company achieve considerable growth in this niche. Currently, Beacon Hill’s regional writings are up 62% year-over-year as a result of Tighe’s efforts in establishing strong relationships with agents and carriers, in addition to his knowledge of this niche marketplace.
BARBARA BUFKIN Executive head of business development, commercial lines ASSURANT
As executive head of business development for Assurant’s commercial lines, Barbara Bufkin serves as the company’s P&C growth and innovation leader, overseeing growth strategies, strategic partnerships and the creation of innovative product solutions. Bufkin joined Assurant in July 2017 from Hamilton USA, where she was a founding executive. Having spent nearly four decades in executive leadership roles in the global insurance and reinsurance industry, Bufkin has worked on everything from business development to product creation to operational and strategic responsibilities. Throughout her career, Bufkin has fostered a culture of innovation and mentorship, and has been a recognized leader within industry groups such as the Association of Professional Insurance Women [APIW], which named her Insurance Woman of the Year, and the Insurance Industry Charitable Foundation [IICF], which recognized her with its Inclusion Champion Award. Bufkin currently serves on the board of trustees for Gamma Iota Sigma, on the national board of governors for the IICF and on the steering committee for the Women in Insurance Conference series. She is also vice chair of the Griffith Educational Foundation and president-elect of the APIW.
T 10 HO
JILL BEGGS Head of new strategic markets MUNICH REINSURANCE AMERICA
MARCIA HAHN Area executive vice president GALLAGHER
Marcia Hahn is a managing director for healthcare and a Chicago-area executive vice president for Gallagher’s retail property & casualty brokerage operations. Hahn has worked as a broker for three decades, focusing on risk management accounts with international exposures. For the last 12 years, she has specialized in working with healthcare clients, including senior care organizations. Hahn and her team have developed a number of proprietary platforms to create a more comprehensive picture of their clients’ risk profile.
JOHN ALFIERI Executive vice president, North America major accounts CHUBB
Chubb’s executive vice president of North America major accounts, John Alfieri is responsible for field operations for the company’s major accounts business, and for developing and implementing strategies designed to deliver Chubb’s comprehensive suite of risk management solutions to large domestic and multinational companies. Alfieri also oversees Chubb’s network of client executives and the large account distribution management team. Alfieri has more than three decades of experience in the large account segment of the industry and is recognized throughout North America for his deep expertise and understanding of the unique risks faced by clients.
A member of Munich Re America’s leadership team, Jill Beggs manages the company’s Innovation practice, which is responsible for spurring innovation efforts in new markets across Munich Re’s US P&C operations. Previously, Beggs was head of specialty lines underwriting in Munich Re's reinsurance division. In addition to her leadership role, Beggs is an executive member of the company's Diversity & Inclusion Council, as well as the executive sponsor for the Young Professionals Employee Resource Group.
DOROTHEA P. WESTIN
Senior vice president
CAPITOL SPECIAL RISKS
Before joining Lockton, Alex Michon spent 23 years at Aon, where he first began his insurance career. In 2016, Michon experienced an impressive 260% increase in the total number of policies written and a 290% increase in his total number of clients. A healthcare insurance specialist, Michon has taken the opportunity to also become an expert in the international agriculture space. “These two highly regulated industries have more in common than one might think,” he says. “Cyber liability and reputational harm coverage, as well as ERM projects, have been big growth areas for me this year.” Michon notes that Lockton’s technology platform was a big driver for his growth last year, pointing to resources such as Lockton’s data and analytics group, which has made providing monthly TCOR reports simpler. “The property modeling group put an iPhone application on clients’ phones that notifies them of pending perils at company locations,” Michon says. “Suffice it to say that came in handy during the Napa fires. Clients knew what was going on and how much they had at risk, making reports to senior management relatively easy.”
In 2017, Dorothea Westin was recognized for being a rarity in the world of insurance: a co-owner of an all-female wholesale insurance brokerage. “Being a woman entrepreneur is not for the faint of heart,” she says. “You must believe you are better educated and prepared than your competitors. Westin operates under the core philo sophy of “do what you love, and the money will follow.” She has perpetuated that attitude throughout Capitol Special Risks, leading her team to be recognized as one of the top 20 professional liability brokers in the US. In September, opportunities for growth prompted Capitol Special Risks to sell to Specialty Program Group. The decision has allowed Westin and the Capitol Special Risks division to grow beyond their expectations, starting new underwriting programs and creating opportunities for agents to better insure their clients. Westin is a national speaker on profes sional and management liability coverages, and provides continuing education classes for both novice agents and seasoned profes sionals, believing that educated agents can better protect and represent their clients.
20-55_Hot 100-SUBBED.indd 26
22/11/2017 10:15:39 PM
R R R
Right People. Right Place. Right Time. Expert advice, excellent service, efficient solutions. Thatâ€™s what you get from Cunningham Lindsey. From loss adjusting to claims management to risk solutions, we deliver client solutions that offer enhanced efficiency through innovative technology. Weâ€™re a global company, with local expertise. When major incidents happen across the globe, we get the right people to the right place at the right time.
20-55_Hot 100-SUBBED.indd 27
22/11/2017 10:15:47 PM
GRACE MEEK Senior vice president, US programs division ALLIED WORLD ASSURANCE
Boasting more than two decades of insurance experience, Grace Meek now serves as head of the programs team at Allied World, providing strategic direction for the growth of its program business portfolio. Meek is responsible for developing and maintaining relationships with program administrators and creating a more defined and efficient platform for writing program business, in addition to ensuring the achievement of profitability and expense goals. Prior to joining Allied World, Meek was chief business officer for Delos Insurance Group, where she focused on program business and grew the production of the portfolio by more than 200% in three years.
BLAISE S. D’ANTONI III Managing director BURNS & WILCOX
MICHAEL VALORI Regional sales director AIG
Since 2015, Michael Valori has been leading AIG’s Mid-Atlantic division in growing its accident portfolio for sports, special events, student activities and nonprofits. Valori is considered one of the national sales leaders for group travel accident, volunteer accident and business travel accident plans. Before becoming regional sales director, Valori served as an underwriting specialist for international property & casualty at AIG for almost three years. Prior to joining AIG, he was with Philadelphia Insurance Companies for more than a decade as underwriting manager for management and professional liability. Outside of the office, Valori is a member of Delta Mu Delta, the business honor society.
BRIAN SCROCCA Vice president ALLIANT INSURANCE SERVICES
Blaise D’Antoni has been instrumental in the growth of Burns & Wilcox’s Louisiana offices, having built robust underwriting capabilities for the region in commercial and personal lines. In the past six years, D’Antoni has grown sales in the Louisiana offices by approximately 67%, continuing their reign as some of the top-performing offices at Burns & Wilcox. During his career with Burns & Wilcox, D’Antoni helped lead the New Orleans office during and after Hurricane Katrina, providing agents and brokers with commercial and personal wholesale surplus lines expertise after the standard admitted markets pulled out of the region. Through diligent underwriting and careful selection of key partners, D’Antoni and his team were able to earn a significant amount of aggregate capacity. D’Antoni was recently awarded the Herbert W. Kaufman Memorial Award, the company’s top commendation for leadership. He is also a current member and past president of the Louisiana Surplus Lines Association. In August 2017, Brian Scrocca joined the Alliant team amidst the company’s ongoing regional expansion. As vice president for Alliant’s middlemarket division, Scrocca oversees the growth of risk management and insurance solutions for clients within the Northeast region. With more than a decade of industry experience under his belt, Scrocca has been recognized for designing and implementing sophisticated risk solutions that effectively address today’s complex environment, and has demonstrated expertise in serving both domestic and international clients. “I enjoy being part of the change in the insurance community,” he says. “There are a lot of stereotypes, as there are in most industries, and I like bucking those generalizations and stepping outside the box sometimes.” Prior to Alliant, Scrocca was with Cook Maran & Associates, where he oversaw commercial insurance operations, looking after clients from various industries, including construction, chemical, food, retail and technology. Scrocca was recognized as an IBA Top Producer earlier this year and was a finalist for Top Producer of the Year at the 2017 Insurance Business America Awards.
20-55_Hot 100-SUBBED.indd 28
22/11/2017 10:15:57 PM
T 10 HO
JANE TUTOKI Global CEO CUNNINGHAM LINDSEY GROUP
Twenty-five years in insurance have given Jane Tutoki a unique perspective on the industry. Tutoki joined Cunningham Lindsey in 2014 from AIG Property & Casualty, where she served as global head of claims operations. Prior to AIG, she worked as both head of the Americas region and executive director of global insurance for Xchanging, and held senior leadership positions at Zurich Financial Services, including global chief claims officer for the North America commercial division. Tutoki began her career by working as a trial lawyer for insurance companies. She spent several years running in-house staff counsel operations before being given the opportunity to run commercial claims operations at The Hartford, where she gained experience with all lines of claims and worked with global carriers.
CATHERINE A. MULLIGAN Head of US cyber practice and managing director AON BENFIELD
For 20 years, Catherine Mulligan has specialized in risk management and risk transfer issues around technology E&O, intellectual property, and security and privacy, both as an underwriter and
a broker. Currently, she is a managing director within Aon Benfield’s US cyber practice group, responsible for the growth and development of the company’s cyber capabilities and service offerings. Prior to joining Aon in 2017, Mulligan served as the head of professional liability at Zurich North America. Before that, she was the company’s head of specialty products E&O, leading that team to double-digit growth and establishing Zurich North America as a key market in the cyber arena. Mulligan has been an important voice in the national discussion around cyber insurance. She provided testimony on the state of the cyber insurance market at a 2015 hearing of the US Senate Subcommittee on Consumer Protection, Product Safety, Insurance and Data Security, as well as at a 2016 hearing of the White House Commission on Enhancing National Cybersecurity. She also has presented to the Federal Advisory Committee on Insurance and is a regular participant at Department of Homeland Security and Treasury Department roundtables on the topic.
DOUG FLAKE Senior vice president BROWN & RIDING INSURANCE SERVICES
Doug Flake has analyzed and designed effective insurance solutions for almost 30 years. Today, he specializes in D&O, E&O and employment practices liability insurance coverages, and has a dedicated book of E&O business from venture capitalists, private equity firms and financial institutions. His expertise has enabled him to aid financial entities in addressing the unique exposures posed by leveraged buyouts, internet commerce and raising capital. Flake also has significant experience working with complex securities claims. Flake began his insurance career underwriting and managing multimilliondollar D&O and ERISA portfolios. Prior to entering the industry, he worked as a commercial analyst at a financial institution.
20-55_Hot 100-SUBBED.indd 29
22/11/2017 10:16:06 PM
SPECIAL REPORT MICHAEL J. SICARD Chairman and CEO USI INSURANCE SERVICES
President and CEO
Vice president and national practice advisor
Since 1998, Roger Ware has served as president and CEO of Genesee General. At that time, the company was a small Georgia-based MGA with $3.5 million in annual premium. Today, Genesee is a national company with MGA and wholesale writings in excess of $130 million in annualized premium. Ware began his insurance career as a commercial underwriter at Fireman’s Fund in 1982 and since has worked with several insurance carriers, focusing on large casualty products. Prior to joining Genesee, Ware was regional vice president of Crum & Forster’s Atlanta region. He has served on the board of the AAMGA, including serving as president in 2015.
As regional vice president for property in XL Catlin’s E&S business, Kyle Burnett has built a strong reputation for creating effective underwriting strategies and finding optimal insurance solutions. Recently, Burnett was instrumental in helping XL Catlin overhaul its E&S property portfolio to better withstand market volatility. His efforts came at an opportune time, helping to lessen the impact of 2017’s natural catastrophes. Currently, Burnett is taking part in a global team effort to help underwriters learn even more from losses by creating loss lessons based on major events, along with guidelines, checklists and other tools that will help underwriters strengthen their assessments.
Since Michael Sicard joined USI Insurance Services as chairman and CEO in 2007, the company has more than tripled in size; launched the USI ONE Advantage, including the Omni proprietary risk management platform; and started USI Gives Back, an innovative nationwide local community service program. This year, USI completed a unique ownership transaction with USI employees, KKR and CDPQ, as well as the purchase of Wells Fargo Insurance Services. Before joining USI, Sicard helped lead the turnaround at Willis Group Holdings, where he was the COO of Willis Group North America and a member of the company’s executive council. Prior to that, he worked at McKinsey & Company.
RONALD E. DAVIS Executive vice president, head of customer management ZURICH
RYAN MOSS Managing partner HIGGINBOTHAM
After graduating from the University of Texas at Arlington in 1996, Ryan Moss
wasted no time opening an independent insurance agency in the Houston metro area, which he managed and grew for 13 years. In 2010, he identified an opportunity to better serve his existing customers by merging with Higginbotham, now the largest independent broker in Texas. Today, Moss serves as managing partner for Higginbotham’s South Texas region. Moss and his team have comprehensive experience helping middle-market and large commercial clients navigate the insurance world. “At the core of my success is a talented, dedicated, hard-working team that delivers an exceptional customer experience in the maritime, energy and construction silos,” Moss says. “Working with such gifted partners makes my job incredibly rewarding.”
In addition to his role as executive vice president and head of customer management at Zurich, where he developed the company’s cross-selling approach and strategic relationship management programs, Ronald Davis serves as chairman of the Spencer Educational Foundation. Since becoming chairman in 2016, he has improved the foundation’s strategic planning, as well as its governance and leadership processes. Davis has been a vocal advocate for the foundation’s mission to fund the education of tomorrow’s industry leaders. Davis is also a David Rockefeller Fellows Program alumni and a member of the board of the Strategic Account Management Association.
20-55_Hot 100-SUBBED.indd 30
22/11/2017 10:16:18 PM
T 10 HO
DAN EPSTEIN CEO RESOURCE PRO
Armed with a passion for leveraging operational excellence to drive profitable growth and innovation, Dan Epstein has led ReSource Pro from a startup with just 25 employees to a company of 3,200
employees and delivery centers in the US, China and India. Epstein’s interest in the future of insurance led him to serve as vice chair on the board of the World Future Society and to start a business association for Israeli technology startups looking for funding and business development in the US. Prior to founding ReSource Pro, Epstein served as an economic officer in the Embassy
of Israel, completed his military service in the Israel Defense Forces, conducted economics research in Tanzania and supported international trade projects in the US House of Representatives. Epstein’s résumé includes an MBA from Columbia Business School, a master’s degree in international relations from The London School of Economics and several stand-up comedy gigs in New York City.
20-55_Hot 100-SUBBED.indd 31
22/11/2017 10:16:29 PM
SPECIAL REPORT ROBERT WEBER
President and CEO
RISK PLACEMENT SERVICES
Founded by president and CEO Robert Weber, Rainprotection Insurance is one of the industry’s leading providers of specialty event insurance products and programs. A member of the International Association of Exhibitions and Events, American Society of Association Executives, the Weather Risk Management Association, and the American Hotel and Lodging Association, Weber has worked with the Chicago Mercantile Exchange to develop rain derivatives and has been profiled in the Wall Street Journal. This year, Rainprotection Insurance developed the Inability to Attend program, which enables conference organizers to refund their attendees and exhibitors 100% of their registration fees should they need to cancel. It also allows hotels to provide guests with a full refund of cancellation fees if they need to cancel a reservation.
STACEY A. OWEN Senior insurance consultant PRIMEGROUP INSURANCE SERVICES
Stacey Owen has been helping clients with their commercial insurance and employee benefits plans for more than 14 years. Today, as a senior insurance consultant for PrimeGroup Insurance Services, she continues to be her agency’s top producer for new business, boasting a retention rate of more than 95%. Her specific areas of concentration include contractors, technology firms and property management. Owen also applies her vast knowledge of the insurance industry to train and oversee new producers in her agency, recently designing an in-depth new training program.
As president of Risk Placement Services, Joel Cavaness heads up one of the nation’s largest MGAs and fastest-growing P&C wholesalers. Cavaness leads more than 1,700 RPS employees spread across 30 states. Under his guidance, the company’s innovative program design, commitment to long-term relationships and high professional standards have ensured that it keeps growing. Cavaness began his career as a casualty underwriter for standard and E&S carriers before joining Arthur J. Gallagher in St. Louis as a marketing representative in 1986, working his way up to area vice president by 1990. In 1996, he moved to Itasca, Illinois, to serve as president of International Special Risk Services before being named president of RPS in 1997. Cavaness is very active in the WSIA, having been on the board since 2010 and currently serving as a vice president.
AMANDA DUNCAN President PARTNERONE ENVIRONMENTAL
Since becoming president of PartnerOne Environmental, a division of Beacon Hill Associates, in 2012, Amanda Duncan has grown the company’s underwriting division into a nationally recognized environmental market. Boasting more than 20 years of industry experience, Duncan’s hard work and professional drive have made a substantial impact on PartnerOne’s success. She remains a respected leader in the environmental insurance space and has consistently achieved excellent results for her carrier partners. Over the past five years, PartnerOne Environmental has more than doubled its premium and has welcomed several new team members to accommodate this growth. In addition to her recognition on this year’s Hot 100 list, Duncan was also named to IBA’s Elite Women list in 2015.
20-55_Hot 100-SUBBED.indd 32
22/11/2017 10:16:36 PM
T 10 HO
We’ll get you there. 2018 is just around the corner. Will you follow the path to success? Whether you’re maturing, expanding or planning to exit your agency, growth should be a common theme. Oak Street Funding provides insurance agents and brokers with capital for growth strategies. Borrow against future commissions without tapping into your personal credit. From initial growth, through the development and eventual divestiture of your firm, Oak Street Funding’s experience and expertise can help you obtain capital.
Up to $20 million
Uses of Capital
• Flexible structures
• Amounts starting at $25,000
• Terms up to 12 years • Quick loan process
• Successions • Debt Consolidation • Business Growth
DAVE NORTH President and CEO SEDGWICK
As president and CEO of Sedgwick, Dave North has led the company to become a leading global provider of technology-enabled risk and benefits solutions. The company takes care of people and organizations by delivering cost-effective claims, productivity, managed care, risk consulting and other services through the dedication and expertise of nearly 15,000 colleagues in 275 offices located in the US, Canada, UK and Ireland. North has more than 35 years of experience in risk management services and is a respected author, a dynamic speaker and a strong advocate for the claims industry. In 2016, EY honored him with its Entrepreneur of the Year Award for the Southeast US region. North was also appointed by Tennessee Governor Bill Haslam to serve on the University of Memphis’ newly chartered board of trustees. He previously served on the university’s board of visitors and concurrently serves on the University of Memphis Foundation board and the president’s innovation board. North is also a member of the Business Insurance Women to Watch advisory board and a director for The Institutes.
Get a quote and learn more today. www.ibamag.com 33 844.370.5753 oakstreetfunding.com/iba2017
a first financial bank company
20-55_Hot 100-SUBBED.indd 33
22/11/2017 10:16:44 PM
SPECIAL REPORT EMILIO FIGUEROA CEO of insurance DROPIN
In September 2017, Emilio Figueroa became the new CEO of insurance for DropIn, which provides a live on-demand video platform for the insurance and automotive industries. Founded in 2015, the company’s Drone, Droperator and ClaimsDirect capabilities enable more precise underwriting risk assessments, speedier claim resolution, accurate damage estimates, and reduced indemnity and loss adjustment expenses. Figueroa has been a fixture in the commercial property & casualty business for 25 years. His commercial insurance ventures have focused on niche program business, ranging from construction and manufacturing to medical and independent film productions. His experience in company formation, policy creation, actuarial analysis, carrier and reinsurance contract negotiations, along with the unprecedented growth of his multiple corporate interests, highlight his consistent performance in financial expansion and risk mitigation.
IVAN GONZALEZ CEO, North America SWISS RE CORPORATE SOLUTIONS
In May 2016, Swiss Re Corporate Solutions appointed Ivan Gonzalez as CEO of North America. Gonzalez has been with Swiss Re for 16 years, working in Switzerland, Brazil and the US. In his previous role as CEO of Latin America, Gonzalez guided Swiss Re Corporate Solutions to achieve exponential, high-quality growth in the region through organic initiatives and acquisitions. Today, Gonzalez is charged with leading Swiss Re’s expansion strategy in the US and Canada.
BRETT AMICK Senior vice president BEACON HILL ASSOCIATES
Since joining Beacon Hill Associates in 2009, Brett Amick has been instrumental in growing the company’s South Central region. He oversees new business, renewals, production and service for this branch of the company, which includes Texas, Louisiana, Oklahoma and New Mexico. With almost 25 years in the industry under his belt, Amick has been a key resource for many agents working with environmental and energy accounts. He started his insurance career in 1993 with Century Surety Company before moving to the MGA/brokerage side of the industry with Burns & Wilcox, where he received training on underwriting management. At Beacon Hill, Amick has become a mentor for many younger producers and remains the company’s go-to person for hard-to-place energy risks.
DAVID SIESKO Senior executive vice president and chief claims officer ARCH INSURANCE GROUP
David Siesko leads Arch Insurance Group’s growing global claims operation, overseeing multi-line insurance issues, including bundled and unbundled claims models. Technical excellence, talent management and challenging existing processes are all part of Siesko’s core leadership focus. For him, “success begins at the desk level,” a mantra he learned while managing an environmental claims desk at AIG in 1987. Later, as part of Zurich Financial Services, Siesko led key domestic and international claims operations to achieve efficiency and excellence by focusing on localized empowerment while operating under clear corporate guidelines. Siesko is a member of the International Association of Defense Counsel and chairman of the organization’s insurance executives division. A sought-after speaker, he routinely presents at professional conferences on a number of industry topics. Outside of insurance, Siesko is a Tony- and
Olivier-nominated Broadway producer and a member of The Broadway League, serving on its government relations committee.
20-55_Hot 100-SUBBED.indd 34
22/11/2017 10:16:50 PM
T 10 HO
EMILY H. BROOKS Financial products underwriting specialist, Midwest region GREAT AMERICAN INSURANCE GROUP
In July 2017, Emily Brooks joined Great American Insurance Group, where she manages the Midwest region for the
bond division’s commercial surety unit. Prior to her current role, Brooks practiced insurance and surety law for five years, and has a background in surety production and underwriting. Most recently, she served as co-plaintiff ’s counsel on a federal indemnity action, which was tried in February 2017 and resulted in a
unanimous jury verdict in favor of the surety. Brooks has been a co-author of the Ohio and Kentucky chapters of the Surety Underwriter’s Desk Book for the American Bar Association since 2013, and she also authored the Kentucky portion of an industry report on surety bad faith.
20-55_Hot 100-SUBBED.indd 35
22/11/2017 10:16:56 PM
T 10 HO
REKHA SCHIPPER President
ANDREW L. EAGAN
TANGRAM INSURANCE SERVICES
As president of Tangram Insurance Services, Rekha Schipper helms an organization where women make up 75% of the leadership team. Under Schipper’s guidance, Tangram has experienced accelerated growth over the past six years, and she continues to work with her team to ensure the company’s place as a national leader in the program management space. This year, Tangram launched two new programs, grew its group captive business, and increased the premium writings and visibility of the firm’s social services program nationally, among other accomplishments. Schipper began her insurance career at a retail brokerage in San Francisco in 2001, where she assembled management liability programs for Fortune 1000 companies. She is a member of the Young Presidents’ Organization and Tangram’s Women of Influence Group.
EAGAN INSURANCE AGENCY
A member of the fourth generation of the Eagan family to be actively involved in Eagan Insurance Agency, Andrew Eagan interned at the company as an undergraduate and worked with a large local broker as commercial renewal underwriter after graduation. His experience in commercial property & casualty insurance placement was a natural segue to his position in the family business. He officially joined Eagan Insurance as a marketing manager, responsible for sales, research, market analysis and product development, as well as training and mentoring the marketing and sales staff. Last year, Eagan was promoted to sales manager, and he quickly initiated a monthly sales meeting with producers and an outside expert to discuss changes, markets and hot topics in the insurance industry. In addition to being groomed to take over a principal leadership position at Eagan Insurance within the next five years, Eagan is active in the local Better Business Bureau of Southeast Louisiana and was recently named to its board of directors. He was also named to Travelers Insurance’s Agency Hall of Fame in 2013 and appeared on IBA’s Young Guns list earlier this year.
JOHN C. ROCHE
President and CEO
Senior underwriter, excess
THE HANOVER INSURANCE GROUP
An accomplished leader and highly experienced senior executive with more than 30 years in the property & casualty industry, John Roche was appointed president and CEO of The Hanover in October 2017. Under his leadership, The Hanover is intently focused on building on its unique competitive position as a leading property & casualty company with a set of high-quality capabilities, delivered through a select network of the best independent agents in the business. Roche joined the company in 2006 and has served in several senior leadership roles, most recently as president of Hanover Agency Markets.
Ryan Buttrey serves as a senior underwriter in the excess workers’ compensation department at Safety National, underwriting a variety of products, including excess workers’ compensation, guaranteed-cost and large-deductible auto programs, general liability, auto liability, public officials liability, educators’ legal liability, and law enforcement liability for self-insured public entities. Previously, Buttrey worked as a commercial underwriter for Auto-Owners Insurance in Columbia, Missouri. A CPCU, ARM and ARM-P designation holder, Buttrey is also a member of the National CPCU Society and the St. Louis Area CPCU Society.
20-55_Hot 100-SUBBED.indd 36
22/11/2017 10:17:07 PM
BROKERAGE IS OUR MIDDLE NAME. As economies and industries evolve, so do brokerage challenges. Our success confirms how easy we make it to cover large, interconnected risks. We have the expertise and access needed to develop the sophisticated solutions required. Turn to the partner that’s built for the biggest challenges – Burns & Wilcox Brokerage.
burnsandwilcoxbrokerage.com 46445 BW100-SUBBED.indd Brokerage Resize 37 - Insurance Business America.indd 1 20-55_Hot
10/31/17 11:32 22/11/2017 10:17:14 PMAM
DEREK CRUMPLER Managing director BURNS & WILCOX
TIM TURNER Chairman and CEO RT SPECIALTY
SUSAN L. JOHNSON Vice president, diversity and inclusion THE HARTFORD
Susan Johnson is the vice president of diversity and inclusion at The Hartford, where she oversees enterprise-wide D&I initiatives, working to align them with business strategies. Johnson partners with The Hartford’s leaders to ensure the firm’s workforce reflects its customer base in order to drive the successful acquisition, development and retention of talent, while also focusing on the right internal and external business and operational activities related to diversity. Johnson previously served as vice president of executive succession and diversity strategies at Pitney Bowes, where she led the company to be named number one for diversity by DiversityInc. Johnson has also spoken at national conferences on managing diversity, executive succession and leadership, career development, and talent management. She was the winner of the BRAVA! Award from the Greenwich YMCA and was named a Top Executive in Diversity by Black Enterprise magazine in 2014 and 2016.
A 30-year veteran of the insurance industry, Tim Turner currently serves as chairman and CEO of RT Specialty, Ryan Specialty Group’s wholesale brokerage operation. Prior to joining RSG, Turner was the president of CRC Insurance Services; before that, he was a casualty broker at Crump Group, quickly working his way up to president of the organization’s Chicago office. Before he entered the insurance industry, Turner graduated from the Detroit Police Academy, served on the Wayne County SWAT Team and was an undercover narcotics officer with the Michigan State Police.
JACQUELINE ROTH Executive vice president BOLTON & COMPANY
Derek Crumpler is the managing director of Burns & Wilcox’s Denver office and one of the youngest managing directors in the company’s history. Committed to continuing his insurance education, Crumpler is a graduate of the Kaufman Emerging Leaders Program and the Kaufman Advanced Management Program, and now serves as a mentor and coach for both programs. In addition to his work at Burns & Wilcox, Crumpler is involved in many insurance organizations in the Denver area. He serves on the board of the Surplus Lines Association of Colorado, is actively involved in the risk management and insurance program at the University of Colorado at Denver, and is a part of the emerging leaders committee for the Trusted Choice Insurance Agents of Colorado. Jacqueline Roth has been working in the employee benefits space for more than eight years. She is currently focused on catering to employer groups in Southern California that are looking for help in evaluating alternative funding strategies. Thanks to the effective use of technology and the consistent support clients have received from Roth’s team, she has been able to maintain a client retention rate of 96%. In 2016, she was named a top producer by Bolton and has consistently written more than $150,000 in new revenue over the past six years. Roth also regularly participates in industry events, speaking on topics such as the Affordable Care Act and competitive benefits programs.
20-55_Hot 100-SUBBED.indd 38
22/11/2017 10:17:25 PM
T 10 HO
CINDY G. PAULIN Associate EAGAN INSURANCE AGENCY
Cindy Paulin has been a prominent figure in the insurance industry for close to five decades. As a sales associate at Eagan Insurance, Paulin handles a large commercial client base, along with a personal lines clientele composed of
many affluent customers with special coverage requirements. A holder of CPCU and CIC designations, Paulin is a past president of the Society of CPCU and taught CIC classes for several years. She remains an active member of the Insurance Professionals of Greater New Orleans and was named a Woman of the Year in 2012 by New Orleans CityBusiness for her business and philanthropic work.
Outside of insurance, Paulin gives back to her community as a member of St. Elizabethâ€™s Guild, a charity that supports the Padua Center for handicapped children and provides training for foster children to gain independent living skills. She is also contributor to a Catholic Charities program, which she helped partner with the Society of CPCU to adopt families during the holiday season.
20-55_Hot 100-SUBBED.indd 39
22/11/2017 10:17:40 PM
LISA LINDSAY Executive director PRIVATE RISK MANAGEMENT ASSOCIATION
MICHELE COMTOIS Principal, executive liability practice MARSH & MCLENNAN AGENCY
Since 2005, Michele Comtois has been a member of the executive liability practice at Marsh & McLennan Agency [MMA], currently serving as its principal. With a background in finance and risk management, Comtois works directly with clients to provide strategic guidance and counsel in the areas of public company D&O liability. Prior to joining the firm, Comtois was a senior underwriter at Arch Insurance Group in San Francisco, where she served in the executive assurance group. During her tenure at Arch, Comtois developed a book of business consisting primarily of publicand private-company D&O and professional liability insurance. She also worked in the financial services field in Boston. Comtois is a founding member of the Insurance Industry Charitable Foundation’s San Diego chapter. She currently holds board positions with the San Diego Venture Group and Athena San Diego, and she serves as the chair for GROW, a women’s initiative focused on attracting, retaining, educating and supporting the women of MMA.
Lisa Lindsay has been part of the insurance industry for more than 30 years. She was instrumental in establishing the Private Risk Management Association [PRMA], a collaborative group that aims to raise awareness and educate agents and brokers about the evolving insurance industry landscape so they can better serve high-networth consumers. Lindsay also played a key role in developing the Chartered Private Risk and Insurance Advisor certificate, the only online certification program for professionals who serve high-net-worth clientts. Lindsay has been inducted into the YWCA Academy of Women Leaders and has been recognized as an outstanding achiever by the New York chapter of the National Association of Insurance Women.
TERRY McCANN President – Chicago, RT Specialty Managing director, Ryan Specialty Group RT SPECIALTY
MARCO LUNA Agent JAG INSURANCE GROUP
Marco Luna has always had a desire to help people in tough situations. Now as an agent at Coral Gables, Florida-based JAG Insurance Group, Luna’s dedication to properly insure his clients helped the firm reach more than $750,000 in annualized premium for 2016; in 2017, he secured an exclusive program through Philadelphia Insurance Companies for the adult day care industry in Florida. In three short years as a producer, Luna earned the first office in the agency after reaching $2 million in annual premiums. A respected wholesale broker, Terry McCann has broad expertise in all phases of primary and excess liability, from real estate, construction and product liability to municipal liability, social service and transportationrelated risks. McCann joined RT Specialty as president of the Chicago office when the company started in 2010 and has since grown the office to nearly 150 talented professionals. McCann’s client-centered focus has been instrumental in building long-term relationships while delivering timely, marketleading solutions to meet his clients’ diverse needs. McCann and his team are on pace to handle more than $180 million in premium in 2017.
20-55_Hot 100-SUBBED.indd 40
22/11/2017 10:17:52 PM
T 10 HO
TODD BIXLER President and CEO K&K INSURANCE GROUP
As president and CEO for K&K Insurance Group, Todd Bixler oversees more than 340 employees in the product development, marketing, underwriting, policy issuance and claims handling for sports, leisure and entertainment insurance products. Bixler began his career with K&K in 1986 as controller, where he was responsible for financial reporting and accounting operations. Since 2010, when Bixler was promoted to president and CEO, K&K has doubled in size; in 2017, with 6% growth, K&K crossed over the $400 million premium mark. This year, K&K launched three new programs: political events, air shows and yoga instructors. “The key to K&K’s success is our dedicated and experienced colleagues, along with our ability to provide competitive and innovative insurance programs to agents and their clients,” Bixler says. K&K celebrated 65 years of continuous operation in 2017. In May, the Indiana Racing Memorial Association honored K&K Insurance as a vital component of Indiana’s motorsports industry history. In conjunction with the ceremony, the Indiana General Assembly and Fort Wayne Mayor Tom Henry issued official proclamations making May 10 K&K Insurance Day in the state of Indiana and the city of Fort Wayne.
LUKE SHERMAN Risk manager INSURANCE RISK MANAGERS
After a decade of working for a large national broker as a perennial winner’s circle producer, in October 2016, Luke Sherman acquired his clients and his team and formed Insurance Risk Managers with Troxell, a boutique agency specializing in middle-market and insurance risk clients. Client-focused and team-oriented, Sherman’s mantra for every team decision is to “think from our client’s perspective.” His innovative risk management and active claims approach has helped his client base reduce cost of risk by more than 15% over the past three years, leading to a client retention rate of more than 93%, even through the transition. Sherman has shared his passion and knowledge as a guest speaker on worker’s comp for the University of Illinois College of Law and by serving on the advisory board for Brickstreet/Motorist Insurance.
20-55_Hot 100-SUBBED.indd 41
22/11/2017 10:17:58 PM
SPECIAL REPORT KERI KISH Director of government relations WHOLESALE & SPECIALTY INSURANCE ASSOCIATION
CORIE GIST DOUG HAMMOND
Account manager HUB INTERNATIONAL
Chairman and CEO NFP
Throughout Doug Hammond’s career at NFP, he has focused on a single philosophy of resisting the unsustainable pressures of short-term quarterly performance in favor of a long-term strategic vision. Hammond has manifested that philosophy in a number of ways. In 2013, he led NFP’s pivotal $1.4 billion go-private transaction with private equity firm Madison Dearborn Partners. In early 2017, Hammond led a recapitalization of NFP with HPS Investment Partners, which valued NFP at more than $3 billion. These actions provided NFP with significant opportunities for future growth and allowed it to make strong investments in its people and culture, some of which might not have been possible under the constraints of operating as a publicly traded entity. Culturally, Hammond has implemented a ‘people first’ culture at NFP, engaging employees with opportunities for education, recognition, community service, financial strength, well-being and more, preparing them to meet professional and personal goals now and in the future. A recent example of Hammond’s commitment to protecting colleagues from all walks of life was his action regarding the Trump administration’s travel ban. He also recently spearheaded the establishment of NFP’s Women in Leadership Council, signaling a steadfast commitment to having women in leadership roles across all areas of the business.
A finalist for Young Gun of the Year at this year’s Insurance Business America Awards, Corie Gist specializes in addiction treatment at HUB International in Carlsbad, California. After moving to Arizona from San Diego in December 2016, Gist obtained her Arizona resident license and California non-resident license, and she is currently working on her AINS designation with plans to start on to her CIC designation soon. A published author, Gist is also the recipient of the 2015 California Outstanding CISR of the Year Award from the National Alliance.
IAN BELL Senior vice president SOCIUS INSURANCE SERVICES
As director of government relations for the WSIA, Keri Kish is responsible for implementing the membership’s government relations and legislative advocacy program, in addition to acting as a compliance resource for members and serving as the association’s liaison and advocate to federal and state legislative and regulatory entities. Prior to her role with the WSIA, Kish worked with NAPSLO, the National Association of Insurance Commissioners and for Kansas Insurance Commissioner Sandy Praeger as a staff attorney. A member of the Kansas and Missouri bars, Kish began her legal career as a prosecuting attorney in Dodge City, Kansas, where she prosecuted adult and juvenile offender criminal cases, gang-related crimes, and cases involving the care and treatment of impaired individuals. She also presented oral arguments in appeals on behalf of the state of Kansas before the Kansas Supreme Court. Since joining Socius Insurance Services in 2013, Ian Bell has has quickly risen through the ranks. He is the youngest senior vice president at Socius, having earned the title faster than any other broker in the organization’s history. He was named Broker of the Year in 2014; in 2016, he became co-chair of the company’s professional liability practice. Bell’s first introduction to insurance was in 2007 at Lloyd’s of London, where he worked as an intern. He then joined the wholesale insurance industry in 2011, fully committing himself to honing his skills by obtaining his ARM, RPLU and CPCU designations within his first three years in the wholesale business. Bell’s dedication to product knowledge has made him an expert in management and professional liability. He attributes his success to an unwavering responsiveness to his retail clients, while providing sound expertise and an exemplary finished product.
20-55_Hot 100-SUBBED.indd 42
22/11/2017 11:55:46 PM
T 10 HO
THOMAS CLARK President NATIONWIDE E&S/SPECIALTY
Tom Clark brings more than 33 years of technical and leadership experience in the insurance industry to Nationwide. Clark first joined the E&S/Specialty team in September
2014 as senior vice president and assumed the role of president in December 2015. Leading a $3 billion organization and more than 1,700 associates, Clark is focused on delivering profitable growth by strengthening distribution partnerships, creating a great environment for associates and effectively managing resources. Prior to joining E&S/Specialty, Clark
served in leadership roles at Allied Insurance, Harleysville, Fireman’s Fund, Treiber Group (now part of RPS), Clarendon National Insurance Company and Cigna Corp. Deeply committed to corporate citizenship, Clark is on the board of the St. Mary’s Food Bank Alliance and is also the leader for Nationwide’s National Pride Associate Resource Group.
20-55_Hot 100-SUBBED.indd 43
22/11/2017 10:18:11 PM
STEVE FISK Principal, Orange County commercial division MARSH & MCLENNAN AGENCY
BRIAN DAVIDIAN Executive vice president
REYANNA SHEETS Producer NORMAN-SPENCER AGENCY
Brian Davidian is a specialty casualty wholesale broker who focuses on the hospitality sector. In his 13 years in insurance, Davidian has proven himself to be an industry leader and innovator. Earlier this year, Davidian joined RT Specialty as executive vice president of the Los Angeles office, where he established and leads a growing casualty unit. Prior to joining RT, Davidian was with AmWINS, where he was regularly one of the company’s top producers nationally. Davidian has always taken pride in growing and developing young people in the industry. Over his career, he has trained and developed 10 different young professionals, all of whom had little to no prior wholesale industry experience, and five of whom are still a part of his team. Earlier this year, he joined the efforts to bring a school of risk management to his alma mater, the University of Southern California, working with other top executives to spread the word about career opportunities in the insurance industry.
Since Reyanna Sheets joined NormanSpencer’s wholesale team in 2014 as a producer, she has worked diligently to contribute to increasing the team’s revenues. Thanks to her knowledge of the marketplace, Sheets was instrumental in creating the
DARLENE DIPLOCK Senior manager, sales development – Canada HUB INTERNATIONAL
Darlene Diplock has helped clients reduce risk, created industry networks, mentored
Steve Fisk joined Marsh & McLennan Agency [MMA] in 2007 and currently serves as a principal in the firm’s Orange County commercial division, where he built and leads the firm’s apparel practice group, a significant area of growth for the company. Fisk has been distinguished as a top producer within the firm for 10 consecutive years and was named MMA’s P&C Producer of the Year in 2015. Prior to MMA, Fisk worked at Liberty Mutual as both a producer and sales member for the California middle-market business segment, where he was responsible for managing 12 team members and aiding in the development of their sales strategy, execution and industry expertise. Outside of his duties at MMA, Fisk is actively involved in several organizations, including Gen Next, City of Hope and Cal Fashion.
team’s 2016 and 2017 target marketing plan and was recognized this year as one of IBA’s Young Guns. An active participant in NS Cares, NormanSpencer’s charitable nonprofit foundation, Sheets has donated more than 100 hours of service time to the organization since its inception in 2015. In 2016, Sheets received the NS Cares 2016 Volunteer of the Year Award, given to those who demonstrate a high level of caring for their community and others.
colleagues, and now trains and coaches producers as part of HUB International’s sales force development team. Diplock has helped grow organic revenue by increasing collaboration between teams through local workshops and coaching. She was credited with having two new commercial producers exceed the corporate annual revenue target of $130,000 and is on track to add more for 2018. Reducing producer attrition continues to be a challenge across the industry; to offset this, Diplock continues to support the insurance industry as past chair for the Insurance Institute’s Hamilton/Niagara chapter, a Career Connections Ambassador and most recently was part of the Insurance Institute’s Career Mapping project to encourage young people to stay in the insurance industry.
20-55_Hot 100-SUBBED.indd 44
22/11/2017 10:18:19 PM
T 10 HO
JETT ABRAMSON Executive vice president AMWINS GROUP
Through his innovative approach, hard work and efforts in fostering relationships, Jett Abramson has built an outstanding reputation as one of the most respected and top-producing casualty wholesale brokers in the US. One industry competitor describes him as “the smartest wholesaler out there, period.” As head of AmWINS’ casualty practice for the Southwest region, Abramson specializes in the design and placement of casualty programs for high-hazard accounts in the construction, manufacturing, energy, environmental and hospitality industries. He has become
SARA VON TERSCH
a particularly formidable presence in the national OCIP/CCIP (wrap-up) market, where his offerings include manuscript policy language specific to clients’ varying needs, as well as exclusively distributed products from national carriers.
Senior vice president
Commercial head of broker engagement
As a senior vice president for NFP’s property & casualty division, Sara Von Tersch provides risk management solutions to commercial clients, specializing in building programs for various franchises. Responsible for the growth and enhancement of several proprietary insurance programs at NFP, Von Tersch is known for her in-depth understanding of the intricate details of policy wording and claims coverages. She joined NFP in 2006 as an account executive and has consistently led production in the Southwest region. “I love to dive in and tackle the toughest challenges around, often putting together innovative insurance programs for hard-toplace risks,” Von Tersch says. “Aside from being one of NFP’s leading producers, I try to set a good example for the team of four that I lead. I’m passionate and tenacious in challenging insurers, leaving no stone unturned to find my clients the best deal and coverage the market is willing to accept. I hope to be a long-term leader at NFP as I continue to grow.”
Marya Propis has received a number of industry accolades in 2017 – she was named a Woman of Influence by New York Business Journal, was a member of IBA’s Elite Women list and was selected as IICF’s Global Inclusion Champion for her contributions to the advancement of women and talent in the workplace. As head of broker engagement for AIG’s US commercial insurance group, Propis oversees sales strategies to support product growth and market segment initiatives, ensuring execution via broker partners. She is responsible for developing practices to define AIG’s position and role in market engagement, and for managing engagement and sales excellence with broker partners. In 2016, Propis won the Leadership Award for Outstanding Women at AIG. Outside of AIG, Propis is involved with the Spencer Educational Foundation, having been part of its board since 2013. She has also been part of IICF’s women’s executive committee since 2014.
MATT BANASZYNSKI Executive vice president and CEO INDEPENDENT INSURANCE AGENTS OF WISCONSIN
Appointed EVP and CEO of the Independent Insurance Agents of Wisconsin at just 26 years old, Matt Banaszynski was first introduced to the insurance world while working for the US Congress, assisting constituents in resolving a variety of government-sponsored insurance issues, such as flood, terrorism and health. He later transitioned into the public-policy sector before moving on to a position as chief of staff for a Wisconsin legislator, who was also an independent insurance agent. “At the time, he was the only one in the legislature with any firsthand insurance experience,” Banaszynski says. “I was then asked to become an expert on everything related to insurance, especially property & casualty insurance. The Griffiths Foundation and other P&C trade organizations and companies helped to educate me and make me an ‘expert’ aide to lawmakers.” Banaszynski spent the next few years helping formulate and author insurance laws for the state of Wisconsin. “My passion was never politics, but rather insurance and public policy,” he says. “Partisan politics had worn me down.” So he took the role of vice president of the Independent Insurance Agents of Wisconsin and was soon promoted to EVP and CEO. “Since assuming the helm of the IIAW,” Banaszynski says, “I have been focused on professionally developing myself so that I may be a better leader to those I work for and with.”
20-55_Hot 100-SUBBED.indd 45
22/11/2017 10:18:27 PM
MATT HAMMER Partner
BARRY L. WHITTON Managing director BURNS & WILCOX BROKERAGE
BALDWIN KRYSTYN SHERMAN PARTNERS
Having achieved partner status in 2017, Matt Hammer has played an integral role in the growth of Baldwin Krystyn Sherman Partners by continually exceeding new client relationship goals, building out industry expertise and crafting innovative solutions to ever-changing client needs. To perpetuate the firm’s future success, he actively recruits and mentors new advisors and leads various training sessions to build technical knowledge, teamwork and character. In the summer of 2017, Hammer established a new Orlando office, where he leads growth and cultural evolution. Hammer holds AAI and ARM designations and remains an active member of his church, serving on mission trips throughout the world.
DONNY ALBERICO JR. Senior associate broker AMWINS BROKERAGE OF THE MIDWEST
Donny Alberico has been with AmWINS Group for six years. After working as a property associate broker, Alberico moved to Chicago to work as a property underwriting assistant for AmWINS Special Risk Underwriters.
As managing director of Burns & Wilcox Brokerage in Atlanta, Barry Whitton has propelled his team to massive growth since opening the office in September 2014. In that time, the office has has experienced five-fold growth in resources and 78% growth in sales. Within the last year, Whitton has doubled the size of his team and has relocated to a new office to support this growth. His efforts earned him Burns & Wilcox’s inaugural Excellence in Leadership Award. Whitton is also one of the largest property producers in the company and is nearing entry into the company’s esteemed President’s Club. In addition to growing his own accounts, Whitton focuses on mentoring young producers in his office to help them find better ways to achieve continual growth. After spending the first two years at SRU supporting senior underwriters, Alberico became a full-time underwriter. In July 2015, he transferred to AmWINS’ wholesale brokerage department and became part of its casualty team, where he now oversees marketing and service for new and renewal business for all casualty lines. This been a productive year for Alberico. “Within the past year, I have gradually increased my client base as well as developed strong carrier relationships,” he says. “I also graduated from AmWINS University this past February.” Alberico was also named as a finalist for Wholesale Broker of the Year at this year’s Insurance Business America Awards.
DAVID MACKNIN President and CEO ALPER SERVICES
When David Macknin was named to IBA’s Hot 100 list last year, Alper Services had bucked the industry trend of being purchased by a larger player in the space, and Macknin was focused on a master plan of being a $20 million business by 2022. A year later, Macknin and his team of more than 50 employees are exceeding all of the company’s goals. As the leader of one of the Midwest’s largest independent insurance brokerages, Macknin focuses on delivering best-in-class risk management and insurance services to middle-market businesses and organizations in Chicago, the US and internationally. During his five-year tenure at the 50-year-old firm, Macknin and his team have nearly doubled revenue to $10 million, and he has charted a course to once again double the size of the company in the next five to six years. With roughly 35 years of professional expertise in risk management, property & casualty and employee benefits, Macknin is widely recognized for partnering with professional services, technology, real estate, manufacturing and social service organizations to identify, understand and treat their business risks.
20-55_Hot 100-SUBBED.indd 46
22/11/2017 10:18:38 PM
T 10 HO
JENNY SOUBRA US head of cyber, tech E&O, media, specialty PI and A&E Global cyber and tech E&O practice leader ALLIANZ GLOBAL CORPORATE & SPECIALTY
Jenny Soubra was appointed AGCSâ€™ head of cyber and specialty PI [CPI] for the US in April 2017. Calling on nearly 20 years of financial lines underwriting experience, Soubra sets the strategy for and leads a team of US underwriters focused on cyber and specialty errors & omissions risks. Previously, she served as the national practice leader for the CPI team. Since joining AGCS in 2015, Soubra has helped to build the forms and enterprise strategy for the companyâ€™s cyber, tech E&O, media, MPL and A&E products, and is working to build strategic partnerships, including vendor engagement and distribution partner selection, to support these products both in the US and globally. Prior to AGCS, Soubra held a variety of senior underwriting positions with Zurich, CNA and ACE Group.
20-55_Hot 100-SUBBED.indd 47
22/11/2017 10:18:47 PM
Chief sales officer
SPECIALTY PROGRAM GROUP
Yiana Stavrakis relies on more than 15 years of insurance experience to provide strategic sales and marketing guidance to Specialty Program Group’s acquired business partners. Starting her career with Metro Insurance Services, Stavrakis steadily rose in both position and authority as she mastered underwriting processes and procedures. Since that time, she has held positions with Preferred Concepts and AmWINS Group. Stavrakis is an active member of IBANY and AA-ISP, and is co-founder and past president of NAPSLO’s Next Generation. She has received the NAPSLO Past President’s Award for outstanding committee work, as well as the Steven R. Gross Under 40 Award and IBANY’s First Emerging Leader Award.
DAVID S. KAUFFMAN Vice president LECHNER & STAUFFER
After graduating from Temple University with a specialty in risk management and insurance, David Kauffman spent some time working with a reinsurance company and also as an account manager for a firm in Philadelphia. Since then, Kauffman has spent 19 years at Lechner & Stauffer, working on
While attending Ball State University, where she was an elementary education major, Nicole Ricigliano was given an opportunity to work a summer job at Arlington/Roe & Co. “It was that summer job that ended up changing everything,” she says. Back at school, Ricigliano changed her major and graduated with a risk management and insurance degree. She started her excess & surplus lines career at Nautilus Insurance Company as an assistant underwriter. Four years ago, she moved to Markel Corporation to work as an excess & umbrella underwriter and has continued to focus on fine-tuning her underwriting skills and expertise. both the commercial and personal lines side of the business. “I pride myself on being a generalist and trying to help anyone who shares the same values as myself,” Kauffman says. “I understand that personal risk exposures and commercial exposures often cross over each other. By taking the time to get to know my clients, I can educate them on the big picture, often uncovering risk they may not have even known they had. I continue to value the relationships with my carriers, often trying to give back by sitting on some agency councils.”
Beginning his insurance career underwriting personal lines and small business risks for a Fortune 500 national carrier, Daniel Steadman was driven to learn as much about the industry as possible, achieving his CPCU in only nine months. In 2012, he was brought on as vice president of underwriting at Veracity Insurance Solutions, where he helped develop its in-house underwriting division. Steadman was instrumental in the creation of several unique insurance programs targeting niche and underserved industries nationwide. During his time at Veracity, the company expanded its in-house programs and underwriting authority to include 16 proprietary insurance programs and written premiums nearing $50 million. With a heavy emphasis in program and surplus line business, Steadman recognized the extreme difficulty and cost associated with managing the compliance process. In January 2016, he launched InsCipher, a surplus line and compliance software-as-aservice company that helps agents, carriers and states manage all aspects of surplus line transactions. At InsCipher, Steadman works with, and has consulted for, some of the largest carriers and agencies in the industry to help them with their program and surplus line challenges.
20-55_Hot 100-SUBBED.indd 48
22/11/2017 10:18:57 PM
T 10 HO
DAVID E. SCHAWE Area executive vice president GALLAGHER
David Schawe has worked in insurance and risk management for 12 years, four of which he spent on the carrier side. He joined Gallagher in 2012 and currently serves as area executive vice president for Gallagher’s retail property & casualty brokerage operations in Cincinnati. There, he focuses on working with large, complex risk management accounts, implementing customized risk reduction plans to reduce his clients’ total cost of risk and improve their marketability to carriers. In early 2017, Schawe was recognized as one of Gallagher’s top 20 P&C producers.
PATRICK G. RYAN Chairman and CEO RYAN SPECIALTY GROUP
This has been another amazing year for Ryan Specialty Group, which is on track to achieve
significant double-digit growth in 2017, much of which has been organic. Patrick Ryan formed RSG in 2010 to include a wholesale brokerage, highly specialized underwriting companies, and specialty services designed for brokers, agents, and insurers. Prior to RSG, Ryan founded Aon Corporation, serving as its chairman and CEO for 41 years. By the time Ryan retired, Aon had more than 500 offices in 120 countries, generating revenues in excess of $7 billion. A widely respected entrepreneur, Ryan has received a number of accolades throughout his career, including the Horatio Alger Award and the Ernst and Young Entrepreneur of the Year Lifetime Achievement Award. He has also been inducted into the American Academy of Arts and Sciences and the International Insurance Society Hall of Fame. In addition, Ryan served as chairman of the Chicago 2016 Olympic Bid Committee.
THE INSURANCE LANDSCAPE IS CHANGING It’s more difficult to compete for new business – and maintain contingent and commission revenue. That’s why independent agencies that want to remain truly independent and grow, need significant scale, engaged support, influential carrier relationships and increased contingency revenue. Just call 609-923-5280 or visit www.ane-agents.com to download our new brochure detailing how we can help you.
20-55_Hot 100-SUBBED.indd 49
22/11/2017 10:19:05 PM
JOHN TIENE CEO AGENCY NETWORK EXCHANGE
As CEO of Agency Network Exchange [ANE], a network of more than 50 independent insurance agencies across New Jersey and
BRADY KELLEY Executive director WHOLESALE & SPECIALTY INSURANCE ASSOCIATION
As executive director for the Wholesale & Specialty Insurance Association, Brady Kelley manages the association’s staff activities, member services and business
SCOTT REESE Principal and managing partner ALLIANCE INSURANCE GROUP/ ASSUREDPARTNERS
Pennsylvania, John Tiene has shaped ANE’s business model, which delivers hands-on support to agencies and their owners to increase retention and growth, improve operations, and increase contingent revenue by pooling premiums, all while allowing agencies to maintain 100% ownership and control of their businesses. Under Tiene’s leadership, ANE has strengthened relations with its core national and regional carriers, resulting in more than $100 million worth of new business generated for carriers by ANE agents in the last six years. Tiene has continuously championed ANE’s rapid growth, building a diverse agency plan that includes ethnic and culturally focused agencies. Tiene’s vision is for ANE to remain committed to promoting the independent agent, and he has written extensively about the challenges agencies face and how they can thrive in the changing insurance landscape. operations. Prior to WSIA, Kelley was executive director for NAPSLO and served for 13 years at the National Association of Insurance Commissioners, providing oversight of all financial management and reporting, business strategy, risk management, and compliance activities. Kelley has also held a variety of roles outside of the industry, including on the Liberty Public Schools Board of Education and with Junior Achievement of Middle America. Over the past few years, Scott Reese has relied on his dedication to clients and knowledge of the industry to take Alliance Insurance Group from a $1 million business to $10 million in annual revenue, averaging approximately 20% growth a year. In order to extend its capacity and gain access to more carriers, Alliance Insurance Group became affiliated with AssuredPartners of Oregon in 2015. Reese continues to oversee the company’s efforts to develop insurance, risk management and financial protection strategies for today’s complex financial environment. In addition to serving as a client advisor to several national accounts, Reese designs and implements association group insurance programs.
LAURA BOYLAN Vice president, human resources PHILADELPHIA INSURANCE COMPANIES
The majority of Laura Boylan’s 19-year career in human resources has been dedicated to the insurance industry. She has spent the past 11 years at Philadelphia Insurance Companies [PHLY], where she currently leads and directs the delivery of HR solutions to approximately 2,000 employees. Boylan has been instrumental in the ongoing development of PHLY’s talent through the creation of leadership programs, the PHLY Women’s Leadership Series, mentoring programs and other offerings. She has also been a strong advocate of programs designed to bring new talent into the industry through meaningful internship and trainee programs, as well as partnering with local schools and the InVEST program.
DAWN FRAZIERBOHNERT Senior vice president and chief diversity and inclusion officer LIBERTY MUTUAL
Since joining Liberty Mutual as chief diversity and inclusion officer in 2013, Frazier-Bohnert has spearheaded the design, development and implementation of the company’s diversity and inclusion strategy and programs. Her efforts led Liberty Mutual to receive a 100% rating on the 2018 Corporate Equality Index, a national benchmarking survey and report on LGBTQ workplace equality.
20-55_Hot 100-SUBBED.indd 50
22/11/2017 10:19:16 PM
T 10 HO
ROBERT COHEN Chairman and CEO THE IMA FINANCIAL GROUP
Robert Cohen serves as chairman and CEO of The IMA Financial Group, a diversified
financial services company that includes retail insurance broker IMA, as well as Signature Select, Eydent Insurance Services, Cornerstone Risk Solutions, Towerstone and TrueNorth. Outside of IMA Financial Group, Cohen is
a member of Assurex Global, Intersure, the World Presidentsâ€™ Organization, the World Broker Network and the Council of Insurance Agents & Brokers, where he is past chair. He holds a CPCU designation and is a graduate of Leadership Denver and 50 For Colorado.
20-55_Hot 100-SUBBED.indd 51
22/11/2017 10:19:28 PM
DEIRDRE K. MANNA Vice president of political engagement and regulatory affairs PROPERTY CASUALTY INSURERS OF AMERICA
During her tenure as insurance commissioner at the Illinois Department of Insurance, Deirdre Manna led large investigations into broker conduct, managed a major insurer’s runoff, and led the department’s involvement in workers’ compensation and medical malpractice. A noted regulatory and legislative strategist, Manna started the Property Casualty Insurers’ political engagement division, bringing together state and federal political engagement initiatives and grassroots functions. Manna has led PCI’s successful advocacy on key issues, including global regulatory convergence, market conduct, cybersecurity and privacy. Over the course of her career, she has developed a deserved reputation amongst industry and other stakeholders for both rigor and fairness. Manna is also the only female on the board of The Insurance Regulator Educational Foundation, a nonprofit dedicated to furthering the education and development of insurance regulators through the Katie School of Insurance at Illinois State University.
NICHOLE BARNES MARSHALL
SCOTT R. KONRAD
Global head of diversity & inclusion
Senior vice president
The tide is turning on diversity in insurance, and as global head of D&I for one of the most renowned risk services brands in the world, Nichole Barnes Marshall is one of the key players fostering that norm. Marshall is responsible for Aon’s D&I strategies for its tens of thousands of employees across 120 countries. She joined the company in 2013 to help advance its ‘Unmatched Talent’ agenda throughout its global network. “The work that I’m doing, it’s not just at Aon,” she says. “I know my counterparts and direct peers in brokerages, as well as all of our carriers … are making commitments to how they want to move the industry forward. [But] it’s going to take some time to change.” Marshall has participated in many conferences and roundtables that are helping to drive diversity by highlighting employment best practices. “As a woman and person of color, that makes me feel good, knowing that there are opportunities for me and for my children – and for other women – to now consider insurance as a viable career and industry,” she says.
TAMARA A. KNIGHT Executive agent ESSER HAYES INSURANCE GROUP
A Certified Insurance Counselor, Tamara Knight relies on both her deep insurance knowledge and teaching experience to help clients make informed choices about their insurance purchases. Knight focuses on four key areas of business: construction contract compliance for risk mitigation, medical facilities, nonprofits and complex insurance accounts. She also speaks at various industry events and is involved with the US Minority Contractors Association as a member insurance advisor.
Scott Konrad has devoted half of his 40-year insurance career to advocating for major global, national and regional nonprofit organizations, ranging from iconic cultural institutions to global NGOs. He joined HUB International in 2013 to fortify its presence in the nonprofit sector, and today he leads the specialty practice that helps charitable organizations surmount their most pressing risk management, insurance and human capital challenges. Konrad is a nationally recognized speaker and author on nonprofit risk management themes and brings an insider’s perspective through his service in a variety of elected leadership roles with professional, civic and religious nonprofit organizations.
ROBERT AROWOOD Principal/president APPALACHIAN UNDERWRITERS
For more than 20 years, Robert Arowood has served as president of Appalachian Underwriters [AUI]; along with his brother, Bill Arowood, he is also a principal of the company, which has more than 400 employees across the country. As an active leader in all areas of AUI, Arowood has been able to create opportunities for growth with diversity in the marketplace. Thanks to additional carriers on its Xpress Contractors platform, service expansion to AUI’s agency portal, the addition of a high-net-worth division and an agency white-label program, AUI has become one of the nation’s leaders in wholesale insurance. Recently, AUI was named a Five-Star MGA for the second consecutive year by IBA, and its high-net-worth division, Reliance Risk Solutions, earned the Cornerstone Elite Agency Designation from Chubb for the second year in a row.
20-55_Hot 100-SUBBED.indd 52
22/11/2017 10:19:33 PM
T 10 HO
SEAN K. SMITH President and CEO KEENAN & ASSOCIATES/ ASSUREDPARTNERS
RUSTY REID President and CEO HIGGINBOTHAM
Rusty Reid has been president and CEO of Higginbotham since 1989; under his leadership, the company has become one of the largest independent brokerages in the country and the largest in Texas, with full property & casualty and financial service capabilities throughout its 27 offices and 930 employees across the state and in Oklahoma City. Reid was responsible for implementing the firm’s ‘single source’ service model, which allows customers to obtain their insurance and financial services under one roof, and for establishing the company’s employee ownership structure, which effectively aligned all employees’ interests with the success of the firm. In addition to leading Higginbotham, Reid is also the firm’s highest-producing managing director. Outside of Higginbotham, Reid serves as regent for the University of North Texas, as a trustee and chairman for All Saints’ Episcopal School, a mentor for the Texas Christian University Neeley School of Business Mentor Program, and as an executive board member for Casa Mañana and for Davey O’Brien Foundation.
In 2000, Sean Smith took over as president and CEO at Keenan & Associates, succeeding the company’s founder and chairman, John Keenan. Under Smith’s leadership, the company has reported steady organic growth; Smith is now leading Keenan to expand outside of California since becoming part of AssuredPartners earlier this year. Keenan provides public agency expertise and is the West Coast hub for AssuredPartners. Smith serves on the AssuredPartners board and consistently works to expand Keenan’s core culture of giving back, including company-wide service days and middle-school mentoring programs, along with Everyday Kindness, a kindness tracking system that promotes positive change in California schools.
JANET DELL CEO MARSH CLEARSIGHT
Janet Dell took over as CEO for Marsh ClearSight in February 2017 after serving as COO of global sales with Marsh. In her current role, Dell oversees the development of Marsh ClearSight’s easy-to-use risk management information system, which tackles daily challenges with better data, faster analytics and smarter insights.
DENISE JOHNSON President and CEO INDEPENDENT INSURANCE AGENTS OF OKLAHOMA
Currently president and CEO of the Independent Insurance Agents of Oklahoma [IIAO], Denise Johnson is formerly vice president of ECI Agency in Piedmont, Oklahoma, a family agency that has been in business for 50 years. Johnson was the first female chair of the IIAO executive board of directors and has been an advocate on the state and federal level for issues such as workers’ compensation and tort reform. In addition, Johnson has advocated for women in the insurance industry by assisting in MyNetwork, a mastermind group that started in Oklahoma and now has members across the country, with a mission to encourage, empower and enhance women’s leadership in the industry. Over her 25-year career, Johnson has also volunteered within many venues on the state and community levels.
20-55_Hot 100-SUBBED.indd 53
22/11/2017 10:19:44 PM
BROOKE MIANO Commercial lines account manager BROWN & BROWN OF ILLINOIS/ WEIBLE & CAHILL
ANTHONY CHIMINO CEO ASSURANCE AGENCY
With 18 years of solid insurance experience under her belt, Brooke Miano currently serves as a commercial lines account manager at Brown & Brown of Illinois. In this role, she supports producers and extends a full range of services to commercial accounts, from quoting and cross-selling to issuing certificates of insurance, processing policies, and handling risk management and renewals. Miano also markets and helps with underwriting for all new small to medium commercial business. Miano was honored with the Outstanding CSR of the Year Award for the State of Illinois this year for the second time in her career. She was also recently awarded two education scholarships, one through DuPage Independent Insurance Agents and the other through the Independent Insurance Agents [IIA] of Illinois. She also serves as a member of the education committee for the IIA of Illinois. Anthony Chimino has been the CEO of Assurance since 2001. His driving ideology for the company is a dedicated focus on creating value for clients through business, benefits and risk management improvements. “My philosophy is to become the best return on investment for our clients by continuing to add, evaluate and measure our services,” Chimino says. As CEO, Chimino is responsible for the strategic direction of Assurance and the development of a highly effective executive team. Under his leadership, Assurance has become one of the largest independent insurance brokerages in the US, placing more than $1 billion in premiums annually for businesses and individuals. The company has grown to more than 400 employees and has earned hundreds of awards for client service and as a top workplace, including national recognition from Fortune magazine. Prior to joining Assurance, Chimino was a national accounts underwriter and business development supervisor for Fireman’s Fund Insurance Company, where he supervised a team of 16 and had workers’ compensation underwriting responsibilities for a $10 million book of business.
BEN WALTER CEO HISCOX USA
Ben Walter leads Hiscox USA, the global specialist’s US division, which offers a wide range of specialty commercial products. Walter has led the business for the past five years as it experienced consistent high growth and achieved profitability. For the fifth consecutive year, Hiscox USA achieved growth in excess of 20%, and the organization’s online small business insurance platform recently surpassed more than 200,000 policies in force. Walter joined Hiscox in early 2011 from BlackRock, where he was a managing director for the asset manager. Prior to that, he held roles at Gap, the Boston Consulting Group and Continental Airlines. Outside of his role at Hiscox USA, Walter sits on the board of directors for Level Funded Health, the board of governors and executive committee of the Property Casualty Insurance Association, and the board of trustees of the Shames JCC on the Hudson and the Parris Foundation.
20-55_Hot 100-SUBBED.indd 54
22/11/2017 10:20:02 PM
T 10 HO
BRIAN DUPERREAULT President and CEO
Think Differently About Growing Your Business
In May 2017, Brian Duperreault took over as president, CEO and director of AIG. Prior to AIG, Duperreault was chairman and CEO of Hamilton Insurance Group. He also served as president and CEO of Marsh & McLennan Companies from 2008 to 2012.
If you’re a professional in the insurance distribution space this conference is a must attend!
LAIRD RIXFORD President INSURANCE TECHNOLOGIES CORPORATION
For nine years, Laird Rixford ran his own successful consulting business for insurance, banking, real estate and mortgage companies before selling it to Insurance Technologies Corporation [ITC] in 2008. He joined the ITC team as vice president of product development and marketing, and in 2014, he was named president of ITC, overseeing the direction for each of ITC’s products while also leading the company’s sales and marketing departments. Rixford is passionate about helping insurance agencies and companies succeed and grow in today’s online market. He believes helping businesses grow is about more than selling them a product or service. His philosophy is to become a strategic partner with agents and carriers instead of being just another vendor. Rixford has contributed numerous articles to and been quoted in various industry publications. As an expert on insurance technology and marketing, he is a popular speaker on various subjects, including insurance marketing, technology and the future of the industry.
STEVEN J. HARTMAN President and CEO FALLS LAKE INSURANCE COMPANIES
An insurance veteran of more than 25 years, Steven J. Hartman currently serves as president and CEO of Raleighbased Falls Lake Insurance Companies, a subsidiary of James River Group Holdings. Since May 2012, Hartman has led the turnaround and expansion of the companies from annual direct written premium of $32 million in 2012 to more than $234 million so far in 2017. By combining growth, improved margins and creation of an inclusive culture, Hartman has led a strategy to grow the business by 800%, expand product lines by 600% and expand states of operation by 1,500%, along with improved bottom-line performance and a corporate culture supportive of local nonprofit initiatives. Under Hartman’s guidance, Falls Lake was named a Best Place to Work in Insurance in the US in 2015, 2016 and 2017.
REGISTER BY FEB 28 AND SAVE $425! Register online at MarshBerry.com/360 or call 800.426.2774 STRATEGIC PARTNER
Marsh, Berry & Co., Inc. and its affiliates are non-affiliated entities with Insurance Journal.
*Securities offered through MarshBerry Capital, Inc., Member FINRA and SIPC, and an affiliate of Marsh, Berry & Company, Inc. 28601 Chagrin Blvd., Suite 400, Woodmere, Ohio 44122 (440.354.3230).
20-55_Hot 100-SUBBED.indd 55
22/11/2017 10:20:14 PM
Standing strong For Conner Strong & Buckelew president Mike Tiagwad, navigating challenges and changing times boils down to his agency’s key strategies
IBA: How important is specialization to Conner Strong & Buckelew? Mike Tiagwad: Our focus is principally on larger, upper-middle-market entities with more complex risks. We intentionally find ourselves in target markets where there’s less competition and a greater need for special expertise. In our case, we focus on employing key people who not only know the ins and outs of insurance, employee benefits and risk management, but who are also experts in particular client industries. Part of that is hiring people from those industries – whether they are risk managers at a construction company, a life science professional or former public official, they have knowledge and expertise that puts us in a position to develop programs that are tailored to meet the intricacies of our clients’ businesses.
IBA: How has Conner Strong & Buckelew overcome challenges? MT: There’s a handful of things that help us overcome and deal with all kinds of challenges. One of them is our culture. We have a workforce that’s very passionate and relentlessly dedicated to serving clients for the long term. Our client and employee retention rates are among the best in the industry. Also, we are committed to training our folks not just in technical areas, but also in areas such as leadership training, business
etiquette, negotiation skills and more – all things that will position our folks differently. Finally, the diversification of our organization has helped us through challenging times. Over an extended period of time, certain industries may have a lot of success, while others may be going through a more challenging time. We have a group of industry segments that don’t experience the same challenges at once, which helps us better weather the ebbs and flows of the marketplace.
IBA: What has been a key lesson you’ve learned from leading the agency? MT: As a leader, being engaged in the business and understanding what the rest of the organization is dealing with have been key. Also, treating everyone like a partner, and creating an environment where open
communication exists so that we know when we have issues, are just as important. Both personally and as an organization, being receptive to change in the industry is one of the things that has made a difference for us. Whether it’s technology or different product solutions, being objective and proactive about assessing whether new advances deliver the same return for the client and us is important when looking at new ways of doing business.
IBA: What’s ahead in 2018 for Conner Strong & Buckelew and the insurance industry as a whole? MT: One of the strategies we are looking at closely is to continue to focus on more uppermiddle-market and large accounts while maintaining our client retention rate and continuing our organic growth expansion. On the brokerage side of the industry,
THE SEASON OF GIVING “We believe staying involved in our community isn’t just an act of generosity, it’s an act of responsibility,” Mike Tiagwad says. Every year, Conner Strong & Buckelew and its employees, in partnership with the Norcross Foundation and the Tiagwad Family Foundation, support more than 200 nonprofit and community organizations in the Philadelphia and South Jersey region that focus on improving education for youth, funding research to cure debilitating diseases, supporting the arts and culture through innovative initiatives, and helping disadvantaged people. During the holiday season, Conner Strong & Buckelew selects a local military organization to support in honor of its clients. In total, the firm donates nearly $2,000 per employee each year, a ratio that ranks it as one of the most benevolent businesses in the Philadelphia area.
56-57_Agency Insight-SUBBED.indd 56
22/11/2017 10:21:20 PM
FAST FACTS: CONNER STRONG & BUCKELEW
Areas of expertise Aviation Construction and construction wrap-ups Education Healthcare Hospitality and gaming Life science and technology Public entities Real estate
“Companies like ours that feel good about their structure and remaining independent will still need to look closely at how they’ll perform in this competitive landscape” we will continue to see rapid consolidation. When I was at the CIAB Conference this year, it was pretty amazing how the makeup of organizations has changed along with the focus of the private equity sector, which seems very bullish in our industry. Companies like ours that feel good about their structure and remaining independent
will still need to look closely at how they’ll perform in this competitive landscape. We will also need to look at what things we can take advantage of, as well as what additional issues or headwinds we can confront. While I don’t believe anything radical will happen, the insurtech revolution will continue as more investment is made in
Headquarters: Marlton, New Jersey, and Philadelphia Number of offices: 8 Number of employees: 354
the sector. A lot of other industries, such as the retail industry and maybe a few areas that you don’t really think about, are being affected by technology, and many people in this industry did not anticipate the kind of disruption it caused. We are focused on being technology-savvy and using what’s available to our advantage.
56-57_Agency Insight-SUBBED.indd 57
22/11/2017 10:21:32 PM
SECTOR FOCUS: HOSPITALITY
Rolling out the red carpet Carriers are battling it out for market share in the hospitality space, giving insurance agents a solid selection of products to choose from THE HOSPITALITY sector encompasses businesses operating in many different niches. But as much as these companies differ, they have one specific and significant thing in common: They all focus on customer satisfaction, and they all rely on clients to spread the word about their positive experiences.
Although hotels account for the majority of the hospitality industry, there is really no typical hospitality insurance customer – which, says Kurt Meister, senior vice president of Distinguished Specialty, is the beauty of the niche. “There are customers that focus on limitedservice hotels, but we find both owners and
“The unique nature of hotels – who are trying to constantly innovate and stand out among their competitors – means they are creating new, unique exposures for themselves” Kurt Meister, Distinguished Specialty Most companies in the hospitality industry are not focused on providing basic, everyday services; they create their value proposition by delivering out-of-the-ordinary experiences for their target customers, who in most cases have plenty of disposable income. In addition to being a lucrative area for its operators, hospitality is also a space that presents some attractive opportunities for insurance agents.
managers often have properties that run from the basic hotel to resort and casino exposures,” Meister says. “The unique nature of hotels – who are trying to constantly innovate and stand out among their competitors – means they are creating new, unique exposures for themselves.” The changing nature of the industry and the rise of litigation have created a new insurance need among operators and
owners in the hospitality industry. Ensuring that contracts with vendors are structured correctly to transfer risk is becoming more important, as is documenting those vendors’ coverage and making sure they name the hotel as an insured. Meister believes incidents like the recent mass shooting in Las Vegas and the numerous high-profile cyberattacks this year should bring the security and risk management plans of hotels into sharp focus. “Exposures like active shooter, terrorist events, natural disasters and cyber liability need to be identified,” he says. “Coming up with a plan to handle these, transfer the risk or buy appropriate insurance to cover them is paramount. So is involving the entire staff – security, maintenance, housekeeping, restaurant/bar and front desk personnel – in addition to management.” Organizations in all industries are being targeted by increasingly sophisticated cybercriminals, and the hospitality space is no exception. “Multiple hotels and management companies have now experienced breaches – and either don’t buy coverage or don’t have enough coverage to manage the notifications, fines and post-breach crisis management,” Meister says. However, the most common hospitality claim – and often the most severe – is still the standard slip-and-fall. Making sure facilities are properly maintained and meet code will enable a hospitality business to control loss results, keep guests safe, and avoid any damaging and costly public relations issues.
Open for business As with many other areas of insurance that have typically been the domain of E&S carriers, the hospitality space is now seeing increasing numbers of standard carriers writing business. Thanks to a general softness across many insurance markets and a climate that makes investment income difficult to achieve, standard carriers are getting involved
58-61_Sector Focus_Hospitality-SUBBED.indd 58
22/11/2017 10:22:27 PM
ORDINARY PEOPLE GETTING THE EXTRAORDINARY DONE
in areas they have historically shied away from. As a result, competition in the hospitality space is growing more and more severe. “It used to be that standard carriers would either not be interested in, or would price quite high, any company that generates more than 30% of its sales from liquor,” says Summer Jenkins, an account manager at Abram Interstate Insurance Services. “However, we are now seeing standard carriers pricing things pretty low for that kind of risk.” Some standard carriers are even writing business with hospitality companies that generate more than 75% of their sales from liquor, although they are not being quite as aggressive in pricing those risks. Abram
WHO NEEDS HOSPITALITY INSURANCE? Hotels Restaurants, kiosks and cafes Pubs, clubs and bars Motels and hostels Resorts, B&Bs and RV parks Tour operators and travel agents
‘paint and sip’-type events,” Jenkins says. “One of our markets in particular is writing them as an art school and then attaching liquor liability to it.”
“Business interruption is a peril that may add dramatically to the overall loss picture [of this year’s catastrophes] – indirect damage will be huge, and I don’t think anybody is really talking about that”
Industry-Leading Wholesale Broker & Program Manager
Ron Abram, Abram Interstate Interstate does use some standard carriers, like Liberty Mutual, for such risks, but they tend to limit liquor sales at around the 75% mark, with the exception of places that sell high-end wines. The increasing appetite where liquor is concerned is a trend that looks set to continue. The rising popularity of BYOB establishments and ‘paint and sip’ events (where painting classes are accompanied by alcoholic beverages) is forcing the marketplace to adapt. In certain states, guidelines have been updated to reflect this shift. “Our markets have stepped in and are establishing special coverage forms to accommodate BYOB and
Winds of change Although the influx of standard carriers into the hospitality space has impacted pricing, there is a sense among some industry insiders that the market could be about to change, says Ron Abram, president and CEO of Abram Interstate. “We’re hearing rumors that the property rates could firm up as a result of the catastrophes that we’ve had this year throughout the country,” he says. “It could be that the underwriting focus changes dramatically and standard carriers are no longer willing to write certain properties.” In many cases, it’s too early to tell the full impact of this year’s hurricanes, floods and
Let us go to work for you today. Email your next risk to firstname.lastname@example.org where you’ll have access to the world’s foremost carriers and programs.
58-61_Sector Focus_Hospitality-SUBBED.indd 59
22/11/2017 10:22:39 PM
SECTOR FOCUS: HOSPITALITY
HOW IS THE HOTEL INDUSTRY PERFORMING? Looking at the hospitality industry’s common benchmark of revenue per available room, or RevPAR, PwC found that strong consumer spending has driven solid growth in 2017, though it expects those gains to soften slightly in the coming year. 2017
fires on companies in the hospitality industry. However, off-premises utility damages could present a major issue for some hospitality businesses. For example, a hotel that did not sustain a direct physical loss as a result of the recent California wildfires could, if their utility services went down, suffer an array of indirect losses. “The standard property coverage form excludes off-premises utility damage; however, some of the hospitality-specific coverage forms include that on a throw-in a basis,” Jenkins says. “It will be interesting to see how policies stand up after all the claims are closed and settled.” One of the uncalculated figures associated with this year’s catastrophic events is the business interruption losses, which have the potential to be far greater than any of the direct property costs. “All of the carriers have been into their
Independent hotels Source: PwC
policyholders’ locations and assessed what is happening, and we have a pretty good handle on what the property losses look like,” Abram says. “The business interruption is a peril that may add dramatically to the overall loss picture – indirect damage will be huge, and I don’t think anybody is really talking about that. Whether business interruption is covered depends on the policy and its trigger points.” While hospitality is an increasingly competitive space for carriers, Jenkins believes the sector represents an opportunity for agents and brokers to achieve strong
revenue growth. Hospitality is growing and becoming more profitable as a whole, and new niches are popping up all the time. “In California, we would typically only see a Main Street agent write hospitality risk if it rolled into his office – there was no focus on trying to write hospitality exposures in general,” Jenkins says. “Now, with more competition entering the space, product availability is much better. I think agents should think about whether they should focus on the five or six different classes within hospitality rather than just what walks through the door.”
58-61_Sector Focus_Hospitality-SUBBED.indd 60
22/11/2017 10:23:02 PM
58-61_Sector Focus_Hospitality-SUBBED.indd 61
22/11/2017 10:23:10 PM
Insurance Business America is the independent voice for the insurance industry, encompassing news analysis, expert opinion, exclusive interviews and business strategy advice for today’s sophisticated insurance brokers, agents and advice professionals.
KNOW ANYONE WHO SHOULD BE READING INSURANCE BUSINESS AMERICA? TELEMATICS:NUMBERS ST THE LATE UPFRONT
SIS NEWS ANALY
In the at driver’s se
ion of light vehicles Rate at which product of telematics is form equipped with some annually expected to grow
cars that will have Percentage of new ics by 2025 integrated telemat
data-led ging toward ics is dulum is swin motive telemat The global pen tions, and auto insurance solu way leading the
have in the US that will Number of new cars ics by 2025 integrated telemat
to nsation in order y and compe mine liabilit ues quickly. telematics contin process claims big business: ND for auto telematics is THE DEMA ted 33 million , It’s clear that next decade year, an estima form t that in the to grow. Last with some be a Repor ts sugges s equipped the road will and light vehicle vehicle on ed globally, 88% of nearly every were produc s is a whopping 2025, vehicle By of telematics abled to connected one. are expected of telematics-en g ed globally production annually, toppin and new cars produc grow by 11% ted telematics, by 2023. expected to with integra automobiles pumping be equipped 66 million players are vehikey ted d, more than connec of in the race forwar new breed with new usageg their coming up Alongside the also offerin resources into ns. insurers are mobile cles, many nce [UBI] solutio solutions via based insura Willis Towers telematics customers brokerage giant In October, telematics or, phone apps. nced that global driver behavi its Watson annou to monitoring was acquiring nce In addition Telematics enable insura be provider Octo tics platforms , two firms would today’s telema n, and the accurate pricing cts more divisio e UBI lated produ y to provid companies and securit on insurance-re nel partnering provide safety of key person r even and can nce numbe and d. A assista going forwar as roadside features such g. trackin stolen vehicle
onal apps to traditi now – from ms, is being used ted car platfor and connec in the black boxes the growth helping to fuel rs they are all because insure y, it works e their market. Frankl and improv financial result and being get a better risk better pricing by ers loss ratios , and consum t with claims more efficien deal.” as a get a better also surged adoption has tics auto Telema unchanged , a fundamentally response to to Oliver Baxter t, according rinsurance marke ions pay-pe and communicat head of brand By Miles. mile startup Miles indust ry hasn’t tics insura nce Oliver Baxter, By global telema other “The car including much like any from Willis, decades, so his team, moved to for g says. d and r helpin Baxter change Werne also for disruption,” leader Geoff telematics is deal. the way it For carriers, sector, it’s ripe as part of the efficiency of ded into the over to Octo much about accuracy and quite embed for tly tics, it’s very “People are increase the have to pay can be instan not if “With telema s. Data that necessity – people to happen, date l policy. works. It’s a claims proces y this is going t, for an annua r includes the how quickl to an insure expect to pay Jonathan Hewet it, and they transmitted happen,” says speed and directhing it’s going to IBAMAG.COM of a crash, the at Octo. “Every er details, and location ting officer and even weath chief marke ISSUE 5.10 | $12.95 detertion of travel, easily ers to more allowi ng adjust
ing more lives are becom “Customers’ looking for [and] they’re rance” convenient … h their car insu wit g thin e the sam
d and more tailore more flexible the convenient, e looking for says, “they’r they to them,” he insurance, and with their car same thing
re is rket of the futu “Clearly the ma ic data, as ned by dynam going to be defi static data” old world of opposed to the
f o L L HA
E M FA 35 of the insurance industry’s most visionary leaders
THE CAPITAL CONNECTION
Where to find the money to finance your agency’s growth strategy
62-63_CareerPath-SUBBED.indd 62 IBA_UpcomingIssues_FP_ad.indd 4
to get a lders who expect Percentage of policyho by using telematics or more discount of 20% Sources: IHS Markit,
now devices are , connected mains tream the home for their way into starting to make as part of their e. Indeed, a similar purpos Towers Watson Octo and Willis partnership, than just auto. wider net their plan to cast acquiring brings that we’re and “The team to interp ret capab ility ts of data increa sed creasing amoun “be analyze ever-in Hewett says, nt contexts,” can be in all differe anything that it a home, but smart it a car, be t, Octo Telematics is one thing, yet.” Data exist t Big Jonathan Hewet busidoesn’ ted. connec tand why it make smart don’t unders ers are increas being able to the s, By that consum insights and auto policie has another. Clearly Hewett agrees to traditional ns is quite deal, which by says In contrast ness decisio to be defined ding a fairer policy that it ce. “The idea ingly deman future is going a pay-per-mile of the ty insuran of t in offers world majori ts marke Miles – the concep to the old macro spurred new as opposed to customers is a broader dynamic data, is much fairer izing higher we consume’ of ‘paying as currently subsid t,” he says. static data.” of whom are out. driving the marke y in the factor that’s , Baxter points other tics is alread of telema mileage drivers sorts While auto 9 way that all ing more “In the same www.ibamag.com lives are becom ers’ areas of custom
– for those busig for so long ? And for It’s been workin g for, why change nesses it’s workin anything else.” they don’t know customers,
GET WITH THE PROGRAM
What’s happening in the program business space – and why agents should care
TIME FOR FRESH BLOOD?
The industry’s prospects for new talent in the year ahead
• In-depth analysis of the latest issues aﬀecting insurance brokers and agents • Expert columnists addressing aspects that impact your business • Exclusive interviews with the industry’s most important players • Our own rundowns of America’s best brokerages and insurers • Analysis of insurance industry reports and research ﬁndings • The latest changes in insurance legislation and what you need to do next • Industry photography of the key ﬁgureheads and insurance events
To subscribe to Insurance Business America, email email@example.com. or call 720-316-7373 www.ibamag.com Insurance Business America is proudly brought to you by Key Media
22/11/2017 PM 2/12/2013 10:24:26 7:23:55 AM
CAPTAIN OF INDUSTRY From a hardscrabble background, Ed Bowler has come to transform how insurance brokerages are financed
Growing up in San Francisco in a working-class family, Bowler’s Irish immigrant parents showed him by example that the pursuit of the American dream was tough but satisfying “We always ate whatever was in front of us because we never knew if it was our last meal. That made me a pragmatist, but one with big ideas – and those characteristics turned out to be very useful for managing a business”
COMES FROM HUMBLE BEGINNINGS
FINDS INSURANCE Bowler took on a new challenge when he joined American Business Insurance as controller; he was later promoted to CFO. His first experience in the insurance brokerage world was a prosperous one “ABI had $10 million in revenue in 1988; when we sold in 1993, that figure was $150 million. I learned two valuable business lessons: Choose pain now over pain later, and you learn more from your failures than you do from your successes”
1997 FULLY COMMITS TO USI Bowler watched from a distance to see how Mizel’s firm – which had become the first insurance brokerage in history to receive private equity funding from Wall Street – was doing. In 1997, he accepted a full-time position with USI, which eventually required relocating his family from San Francisco to Westchester County, New York
2017 GETS RECOGNIZED Following a new $4.3 billion private-equity deal with global investment firm KKR and Canadian pension fund CDPQ, along with USI’s acquisition of Wells Fargo Insurance, Bowler was honored at the 2017 CFO Innovation Conference & Awards, winning the CFO Success Award: Strategy. Most recently, Bowler was recognized as Westchester County CFO of the Year by the Westchester Business Journal
LAUNCHES HIS CAREER Degrees in hand – a bachelor’s in accounting and a freshly acquired CPA – Bowler began his career with Arthur Andersen & Co., a position he credits with much of his subsequent success
“It taught me that every good business decision needs dispassionate, objective, fact-based financial analysis behind it, and that accounting and financial reporting are the cornerstones of good financial analysis. I’ve leveraged that wisdom throughout my career” 1993
JOINS ACORDIA When Acordia acquired ABI, Bowler became part of the firm’s management team; he eventually became the CFO of Acordia of California (now Wells Fargo Insurance). Bernard Mizel, who led ABI, approached Bowler about raising private equity funding through a Wall Street source for his new firm, USI. With a wife and four kids at home, Bowler was leery about the risk involved with a startup, but he agreed to help on weekends
2007 MAKES A DEAL Bowler was instrumental in completing a private transaction with Goldman Sachs valued at $1.4 billion, which led the way for USI to issue a $400 million bond – only the second non-investment-grade bond ever issued in the insurance brokerage industry. Five years later, Bowler again orchestrated a multi-billion-dollar private equity partnership for USI. This time, he partnered with Toronto-based private equity investment firm Onex in a transaction valued at $2.3 billion
22/11/2017 10:24:19 PM
TELL US ABOUT YOUR OTHER LIFE Email firstname.lastname@example.org
Steen’s daughter, Rebecca, has joined her in the parade for the last three years
Floats in the 2017 Mardi Gras parade
Number of people on Steen’s float this year
The krewe’s annual dues, which cover costumes but not headpieces
LOVE OF THE PARADE For native New Orleanian Bonnie Steen, Mardi Gras brings the chance to be right in the middle of the action “IF YOU love Mardi Gras, you love parades,” says Bonnie Steen, associate managing director and Louisiana VP for Burns & Wilcox. So when the opportunity to join a krewe – the exclusive organizations charged with putting on New Orleans’ Mardi Gras parades – presented itself four years ago, Steen jumped at the chance. The day of the parade is a long one: “I leave home at 9 in the morning and don’t get
home until 1 a.m.,” Steen says. The day starts when the krewe meets to get into costume and continues with a pre-parade party and contest to choose which float has the best headpiece. Finally, in the early evening, the krewe is transported on the floats under police escort to the parade starting point. While the parade itself comes only once a year, Steen emphasizes the year-round nature of her all-female krewe’s commu-
nity, which encompasses everything from a formal annual ball to get-togethers at members’ houses to craft the purses they throw to the parade-watching crowd. While Steen is stepping back from next year’s parade to focus on her daughter’s wedding, her krewe’s sense of camaraderie will keep her coming back. “It’s all about sisterhood and friendship,” she says. “It’s kind of like a sorority.”
64-IBC_Other Life-SUBBED.indd 64
22/11/2017 10:25:44 PM
KM Branding ibuk.pdf 1 20/04/2016 8:36:27 AM
proudly brought to you by KEY MEDIA
PRINT INSURING ATHLETES HOW TO GET IN THE GAME
LIFE | HEALTH PROFESSIONAL LIFEHEALTHPRO.CA ISSUE 1.02 | $6.95
CRITICAL ILLNESS THE IMPORTANT COVERAGE YOUR CLIENTS DON’T HAVE SELF-REGULATION AN ALTERNATIVE TO FSCO
Advisors speak out about where their MGAs are performing well – and where they could do better
5/06/2015 8:26:00 AM
The BIG 95
London | Auckland | Denver | Manila Singapore | Sydney | Toronto 64-IBC_Other Life-SUBBED.indd 65
TO FIND OUT MORE ABOUT KEY MEDIA’S GLOBAL B2B AND CONSUMER PRODUCTS, VISIT WWW.KEYMEDIA.COM TODAY
22/11/2017 10:25:18 PM
Expect big things in workers’ compensation. Most classes approved, nationwide. It pays to get a quote from Applied.® For information call (877) 234-4450 or visit auw.com/us. Follow us at bigdoghq.com. ©2017 Applied Underwriters, Inc., a Berkshire Hathaway company. Rated A+ (Superior) by A.M. Best. Insurance plans protected U.S. Patent No. 7,908,157.
00_OFC Spine OBC-SUBBED.indd 3
22/11/2017 9:58:06 PM
Published on Dec 6, 2017