In wake of Hurricane Sandy, Aon Risk Solutions offers Flood
Secure, providing replacement coverage to U.S. entities that
have impaired aggregated flood limits on their property policy.
The product reinstates exhausted or eroded flood limits of
liability so insureds have replacement coverage for subsequent
events. Coverage matches existing policy language and provides
immediate reinstatement of impaired flood limit, even in
high-hazard flood zones, up to $25 million for any one
occurrence/reinstatement term aggregate limit of liability.
Additional limits available. Does not replace NFIP coverage.
>> Aon Affinity Healthcare (consumer, association and
group program business of Aon Risk Solutions) opens access to
Affinity Health Care programs to brokers nationwide. >>
Aon Risk Solutions forms Risk Pooling Practice to provide p-c
and employee benefits pooling products for private and public
sector entities, such as government agencies, professional
associations, religious institutions, trusts, joint powers,
school districts, etc. >> Aon announces plans to make
series of small “tuck-in” acquisitions to boost
“client-serving capability,” said CEO Greg Case to
Reuters. Expects to spend $300 million to $400 million a year
on this strategy. >> Aon Risk Solutions providing
exclusive non-practicing entity (NPE) patent litigation
insurance from RPX Corp. for small and mid-sized tech clients.
>> Rachel Perry joins Aon Risk Solutions as managing
director and Southeast regional casualty leader in Atlanta. She
was casualty leader in Atlanta for Marsh. >> Liz
Frederick joins Aon Global Risk Consulting as head of global
insurance-linked securities practice in Bermuda. She was
managing director and head of ILS at Kane.
Assurant Solutions names Shawn Marcotte COO and VP of
international operations, based in Atlanta office. Will oversee
IT initiative in 13 countries. Was most recently Latin America
ops director at Brightstar, provider of products for mobile
BROWN & BROWN
CITA Insurance Services rolls out new program—malpractice
coverage for physical therapists. Underwritten by Allied
Professionals Insurance Co., an RRG.
BURNS & WILCOX
John Karl named head of Overland Park, Kan., branch
specializing in hard-to-place risks. He’ll cover Missouri
and Oklahoma, too. He was with Zurich for more than 10 years,
most recently as VP for wholesale marketing to brokers.
COOPER GAY SWETT &
Lightyear Capital and institutional co-investors agree to buy
out 55% of the brokerage. Management decided on going with
private equity to continue expanding while awaiting the right
time to issue an IPO. “CGSC now has the resources at its
disposal to realize its acquisition ambitions,” a
spokesman said. Deal expected to close Q4 2012.
Launches private exchange for small to mid-sized
businesses’ employee benefits needs. Offers defined
contribution solution with annual employer contribution to EB
package plus payroll deduction. Employees then choose from
various offerings online that meet their custom needs.
Available: health, life, disability, accident, critical
illness, LTC, dental, vision and more. HSAs can be set up.
Enrolling in Vermont beginning in January 2013. Expanding
nationwide throughout next year.
FRANK CRYSTAL & CO.
Re-brands as Crystal & Co., with new website and industry
reports under updated moniker. >> Hires Raymond Bascio as
executive managing director. He was director of large group
sales at Horizon BC/BS of New Jersey, where he worked for 18
CEO Frank Harrison’s duties for day-to-day operations
spread among three execs: CFO John DiGregoria; EVP David
Melrose, who will manage new business development and special
projects; and EVP Frank Pierson, who assumes additional role as
chief production officer. Pierson will manage brokerage staff
and analytics professionals in New York, Minneapolis and Kansas
City. He has been head of analytic functions since 2005. These
three plus SVP Adam Manus, with the firm since 1993, form new
Franchise Operating Committee to advise Harrison on strategic
planning, ERM and new business ventures.
Peter Barr joins as SVP in Portland, Maine. He was with Mutual
Reinsurance Bureau in Illinois for 28 years.
Promotes managing principal Anne Anderson to head of New York
City office. She has been with the brokerage since 2005 and
succeeds Nicholas Conca, who has moved to Alterra Capital
Holdings as chief claims officer.
Buys Repp-Gartner Financial, which adds a call center to
Insphere’s operations and distribution capabilities. Call
center is based in San Diego and can market life, health and
supplemental products. David Repp, Shawn Gartner and staff
Mark Niebuhr promoted to SVP for captive and alternative risk
consulting in Sacramento. >> Bill Bergan promoted to VP,
heading construction and surety practice in Sacramento. This
office is part of Jenkins Insurance Services.