ALL RISKS Obtains A++ market
for E&O for insurance agents in the p-c, life, A&H,
variable annuities, variable life and mutual funds sectors.
Insolvency coverage and consent to settle included. Punitive
damages covered where allowed by law. Limit options start at
$500,000/$1 million. Deductibles start at $1,000 with
aggregates available. Optional first-dollar defense, defense
outside limits and mutual funds. >> Hugh Mooney promoted
to VP and branch manager of the Atlanta office. >> Hires
Don Deising as branch manager and senior broker in Orlando. He
was regional VP at Bliss & Glennon. His team is moving with
him. >> Michael Hayes joins National Specialty Programs
to head nationwide temporary staffing workers comp program. He
was EVP for an MGA in New York.
AMWINS Tanya Buswell
promoted to transportation team leader in Dallas.
AON Aon Risk Solutions, in
cooperation with QBE Insurance, is offering the Aon Zero
Collateral Deductible Program to provide an alternative to
traditional collateral requirements. Organizations using it
will be charged a one-time upfront fee based upon
creditworthiness. Zero Collateral eliminates line-of-credit
fees, unlocks credit line capacity and capital that would
otherwise be held as collateral, removes balance sheet
uncertainties that accompany collateral adjustments, and gets
rid of problems emanating from carrier negotiations over
collateral release. Participants can’t expect annual
losses to exceed $5 million, and their targeted minimum credit
rating must be at least BB+ (S&P) or the equivalent.
>> Working with Zurich and advertising agency WPP to
offer global companies coverage for tarnished reputations.
ARTHUR J. GALLAGHER
Acquires Heath Lambert for $158 million in an all-cash deal.
Adrian Colosso remains as head and will report to David Ross,
CEO of Arthur J. Gallagher International. Sixteen Heath Lambert
offices and all 1,200 employees join Gallagher ranks.
Acquisition allows Gallagher to become a large retail brokerage
in a market were it has been primarily a wholesaler. >>
Buys ITI Solutions, a Singapore-based specialist brokerage
focusing on marine cargo, political risk, trade credit risk and
specialty lines. It is licensed to place business in Asian
reinsurance markets. ITI will trade internationally as
Gallagher Singapore from its current location under the
direction of David Ross, CEO of Gallagher’s London-based
international brokerage unit. Freddie Lim, Lillian Seet and
associates staying on. >> Also buys Fish & Schulkamp,
a retail p-c brokerage in Madison, Wis. Eric Olson and
associates will continue on from current location under
direction of Thomas Gallagher, Midwest regional manager for
retail p-c. >> Purchase of Meyers-Reynolds in Oklahoma
City complements energy practice. Lee Reynolds, David Brown,
Paul Brown and associates will remain in Oklahoma City and
Tulsa locations under direction of Michael Henthorn, south
central regional manager for retail p-c. >> Three
promotions to corporate VP: Norbert Chung, Western Region EVP
for employee benefits; John Neumaier, South Central Region EVP
for employee benefits; and William Ziebell, North Central
Region EVP for employee benefits.
BARNEY & BARNEY Hires
Michael Grant as director of technology practice in commercial
division of Orange County, Calif., office. He was principal
with Costello & Sons Insurance.
BOLT Signs with Zurich
Small Business to distribute small commercial products to
business owners nationwide on BOLT Insurance portal
BROWN & BROWN
Subsidiary Apex Insurance Agency buys Global Intermediaries of
Eugene, Ore., a wholesaler of excess liability, workers comp,
med mal, police professional and other specialty lines to
self-insured public entities. Staff will remain in Eugene
offices but will operate as Apex Insurance Services. >>
Brown & Brown of New York buys Fitzharris Agency,
Fitzharris & Co. and Fitzharris Administrators, all doing
business under the name Fitzharris Insurance. The Farmingdale,
N.Y., firm will become a stand-alone unit under direction of
Dennis Fitzharris Jr. >> Purchase of First Horizon from
First Tennessee Bank completed. It will change name and operate
as Brown & Brown of Tennessee.