The CHART Exchange September 2018

TABLE OF CONTENTS

6 Glenn W. Clark, CPCU, Publisher CHART Exchange Earliest Adopter

6

CHART: Let Us Introduce You To TOM!

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The Insurance Industry’s Gender Pay Gap

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M&A Services Ranked #1 By Deal Value For Q2 2018

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FACE UP - 4 Reasons To Use An In-Person Analysis In Insurance Sales

Cover Photo: Llloyd’s of London

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7 Ways To Get Things Done During The Day

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Special Report: Sports Betting And Anti-Money Laundering Compliance

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Best Lawyers In America 2019 Includes 35 Wilson Elser Attorneys

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What Do Rockefeller, Carnegie & An NBA Star Have In Common?

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Lloyd’s News Roundup - A Recap Of Lloyd’s In The News This Month

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Women Attorneys Are High Achievers At Wilson Elser

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Industry Insights: How Consumers Are Changing The Business Landscape

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3 Demographics That Need Device Protection The Most

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Fortegra Adds Tom Scott To Business Development Team

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Raymond Rocchio Joins Merger & Acquisition Services

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Vincent Vandendael To Leave Lloyd’s As Chief Commercial Officer

SPECIAL REPORT: PG 16

SPECIAL REPORT: SPORTS BETTING AND ANTI-MONEY LAUNDERING COMPLIANCE

SEPTEMBER 2018 VOLUME 3 - ISSUE 8

Publisher: CHART Exchange Glenn W. Clark, CPCU Membership Services Kate Boyle Advertising: Kate Boyle Managing Editor: Kate Boyle Contributing Editor: Frank Huver Layout, Design & Circulation: Ron Manera AdMax Corp., Inc.

CHART Exchange

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Message from the earliest adopter

LET US INTRODUCE YOU TO TOM! Glenn W. Clark, CPCU Publisher & Earliest Adopter

Over the next several issues, CHART Magazine will dig deeper into the components of the TOM project. We will introduce you such futuristicsounding concepts as Placing Platform Ltd (PPL), Central Services Refresh Programme (CSRP), and Delegated Authority (DA).”

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SEPTEMBER 2018

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loyd’s of London is the oldest and most recognized insurance brand in the world. Over the course of its 332-year history, the market has established a reputation for being both innovative and flexible. In order to retain this position, Lloyd’s is always on the lookout for ways to make them more accessible and efficient.

Our industry’s current environment offers the London market another opportunity to demonstrate just how adaptable it can be. Make no mistake – this is perhaps one of the more tumultuous times the insurance world has experienced in quite a while. Customers are becoming more technologically proficient, demanding answers to their business-related inquiries in near real time. New and emerging market growth is becoming more

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predominant. Markets are also bracing for the potential earnings decline and capital deterioration resulting from the spate of hurricanes, earthquakes, and other natural disasters that have occurred recently.

The issues outlined above are daunting enough. Unfortunately, Lloyd’s has yet another problem to overcome – the increasing cost of doing business. Speaking at a recent analyst presentation, John Parry, CFO at Lloyds, explained that one of the reasons the market’s combined ratio has been higher comes down to the increasing acquisition and administrative costs. Mr. Perry opined that the market’s superior loss results are being more than offset by the high expense base – making their combined ratios uncompetitive in relation to their peers

www.chart-exchange.com

Lloyd’s has responded to this challenge by launching the London Market Target Operating Model (TOM).

This ambitious project – unanimously supported by all the stakeholders – is designed to make the market a more accessible and cost effective place with which to do business. The key aims of the TOM initiative are to assist: •

• •

Face to face negotiation supported and facilitated by electronic data capture for all steps in the process including placing, signing, closing, claims, and renewals.

One touch data capture – a global standard to allow re-use by all Enhanced shared central services – proving common non-competitive services.

Over the next several issues, CHART Magazine will dig deeper into the components of the TOM project. We will introduce you such futuristic-sounding concepts as Placing Platform Ltd (PPL), Central Services Refresh Programme (CSRP), and Delegated Authority (DA).

These subsequent columns will also explain how CHART is helping Lloyd’s achieve their TOM-related goals. Our contributions include:

• CHART MGA A number of Syndicates have insurance offerings that were developed for the domestic U.S. market. Their advantages of an excellent coverage form, automated underwriting, London expertise, etc. are somewhat mitigated by an inability to fully execute efficiently in the U.S. It is both time-consuming and expensive to find just the right wholesaler partners willing to fully invest in a new product launch. It requires surplus lines licenses in order to “perfect” a Lloyd’sunderwritten sale in almost every state in the U.S. CHART MGA solves this issue for syndicates who wish to have a dedicated entity to help them bring innovative new products to market.

• CHART Markets is an on-line shopping mall dedicated to the promotion of London-centric insurance products. Much like its “brick-andmortar” counterpart, the facility provides participating members with virtual storefronts from which their various product and services offerings can be promoted. Marketing campaigns targeting retail insurance agencies will be implemented in an effort to drive traffic to this unique Internet platform. We will utilize media advertisement, direct response mail, broadcast e-mail, and other methods to raise awareness.

Glenn W. Clark , CPCU CHART’S Earliest Adopter

www.chart-exchange.com

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SEPTEMBER 2018

7

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SEPTEMBER 2018

Analysis - Netrate

THE INSURANCE INDUSTRY’S GENDER PAY GAP

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Companies with more than 250 employees in the U.K. are required to publish their pay data by gender, and 10,000 of them did so this spring, revealing a gender pay gap of 14.5 percent across industries.

Financial and insurance companies emerged as those with the biggest pay gap between men and women — 25.9 percent for regular pay and 45.5 percent for bonus pay.

The explanation is fairly straightforward, says Insurance Business Magazine: It’s not so much that men are paid more for the same job as that men fill jobs that pay more and dominate senior executive ranks. One top woman executive, Inga Beale, who www.chart-exchange.com

is stepping down as CEO at Lloyd’s of London at the end of the year, noted the industry needs to do a better job getting women into top executive positions.

Margaret Regan, chief executive of FutureWork Institute Inc., acknowledged the pay gap in the U.S. industry at a Women in Insurance conference earlier this summer, according to PropertyCasualty360.com.

Reversing the gap, she said, will require senior insurance executives TABLE OF CONTENTS

to sponsor women to roles they might not have considered in the past.

Conducting pay studies could help bridge the gap, and gender dialogs are needed so men can promote a fix to the issue and support women, Regan said. Women also must step up when leadership opportunities arise.

In an industry where 61 percent of the workforce is women, the opportunities for women should be limitless. Let’s all do our part to ensure that’s the case!

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9

Woman Exec Image: CC0 Creative Commons

he #MeToo movement has put the treatment of women front and center of many cultural conversations since last fall.

Now there’s data from the United Kingdom that might be instructive for the U.S. insurance industry about one corner of that conversation — the gender pay gap.

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within the insurance industry by assisting firms with their corporate development and acquisition/divestiture objectives.

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News - M&A Services

M&A SERVICES INC. RANKED #1 BY DEAL VALUE FOR Q2 2018

I

Merger & Acquisition Services, Inc. is a specialist advisory and financial services Firm to the insurance and reinsurance industry, with offices in New York, Connecticut, Georgia & Cayman Islands. Founded in 1999, the Firm and its affiliates provides investment banking and insurance consulting services globally, including; merger & acquisition advisory capital raising, valuations, program placement/fronting, and reinsurance advisory. Merger & Acquisition Capital Services, LLC., a registered brokerdealer and member FINRA / SIPC, is an affiliate of Merger & Acquisition Services, Inc.

n the insurance brokerage space, Merger & Acquisition Services Inc. topped the deal value league table by S&P Global – Market Intelligence thanks to its buy-side role on White Mountains Insurance Group Ltd.’s $368.3 million purchase of NSM Insurance Group Inc. Merger & Acquisition Services also advised Norman-Spencer Agency Inc. on its sale to Specialty Program Group LLC, but the companies did not disclose the value of the transaction.

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SEPTEMBER 2018

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Analysis - SIAA

FACE UP 4 reasons to use an in-person needs analysis

By Matt Masiello

The needs analysis is not a new tool, but it’s as important today as ever.

T

raditionally, a needs analysis is used when initiating a discussion of insurance needs with a new client, then updated when conducting an insurance review with existing clients on an annual basis.

The idea is to provide a structured mechanism to determine the insurance needs of the client: types, amounts, beneficiaries and more. But in the digital age, is it really necessary to have this kind of conversation face to face?

HERE ARE FOUR REASONS AN INPERSON NEEDS ANALYSIS IS MORE EFFECTIVE: 1) Nuance. An automated system can’t read facial expressions or body language, and it certainly can’t rephrase a question or dig a little deeper based on those types of “tells.”

Compared to a human conversation, an automated process is more likely to let some items fall through the cracks—potentially resulting in inadequate or incorrect coverage.

2) Rapport. Insurance agents who conduct needs assessments get to know their clients better—and the clients get to know them better as well.

Rapport is an important part of the sales process, and most clients and agents build it while performing the actual needs assessment. This results

in true two-way communication, which not only creates space for clarification and greater understanding, but also solidifies relationships and increases retention.

3) Expertise. The face-to-face process also enables insurance agents to bring their experience and knowledge to the conversation. Most clients have very limited exposure to the insurance industry and therefore must be able to rely on the expertise of their adviser.

4) Thoroughness. An interactive, in-person needs analysis is more likely to identify changing life phases that typically require different coverages: Is your client single? A young professional? Newly married? A new homeowner? A new parent? Newly retired?

Because visual clues often assist in this process, a face-to-face needs analysis gives insurance agents a better opportunity to cross-sell additional insurance products, such as flood, small business, life, health, disability and more.

Editor’s Note: This article first appeared in the May 2018 issue of iamagazine.com and is reprinted here with permission.

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bout the author: Matt Masiello is executive vice president and COO of SIAA. Matt is responsible for operational management of the largest alliance of independent insurance agencies in the United States and its related companies, providing leadership to over 50 direct employees, 49 Master Agencies and more than 6,500 independent insurance agents across the United States. Matt is also president and CEO of SAN Group and Strategic Independent Insurance Agency Solutions.

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OUR TEAM IS THERE FROM THE START TO THE FINISH NSM Insurance Group Comprehensive Insurance Coverage for: Social Services I Addiction Treatment I Professional Liability Staffing Firms I Workers' Compensation I Collectible Vehicles Coastal Condo Associations I Breweries and Wineries Sports and Wellness I Specialty Aviation

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Analysis - Cost Financial

7 WAYS TO GET THINGS DONE DURING THE DAY

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ow many times a week do you look over your to-do list and realize that you just haven’t done as much as you wanted to? Even if you’re always striving to be more productive, it can be hard to stay motivated and avoid time-consuming interactions. That being said, there are things you can do to streamline your processes.

3. DITCH THE SMARTPHONE. The average smartphone user checks his or her device 221 times a day.

Putting your cell phone out of sight during work hours helps to get it off your mind.

HERE ARE A FEW TIPS FOR INCREASING YOUR PRODUCTIVITY:

Image: Sacha ChuaAttribution 2.0 Generic (CC BY 2.0)

1. KNOW WHEN YOU’RE MOST PRODUCTIVE. What time are you at peak productivity? Schedule your most crucial tasks during that time. If you’re a creative genius between the hours of 10 p.m. and midnight, then by golly, do whatever you have to do to block off that time and get things done.

2. SKIP SOCIAL MEDIA. It may be tempting to log in and just *peek* at what your news feed is up to, but that’s a dangerous move when you’re trying to get something done.

Before you know it, you’re tangled in a web of cute animal videos and profile stalking, and it’s 30 minutes later before you realize you’ve entered the social media time warp.

www.chart-exchange.com

people create for you. So you need to manage that daily annoyance somehow. Schedule certain times of the day that you check email, and stick with it. You can try tackling email first thing in the morning, after lunch, and at the end of the day. Also, make sure to turn off your email notifications. If you think this is going to be a problem for your teams or clients, let them know ahead of time how you communicate throughout the day.

6. CHANGE YOUR SCENERY.

4. FORGET MULTITASKING AND JUST FOCUS. You might think you’re being more productive by sending those emails during a conference call but think again. Multitasking reduces efficiency and the quality of work (plus, research shows it literally lowers your IQ). So when you have to get something done, just focus on the task at hand for best results. And keep in mind that studies show the human brain can only focus for 90 to 120 minutes at a time before it needs a break.

5. REIMAGINE YOUR INBOX. Emails build a to-do list that other TABLE OF CONTENTS

If you’re feeling a little foggy midafternoon, try looking out the window into nature. Even better? Take a short walk outside. Research shows that a 30-minute lunchtime walk can help people cope with stress and boosts enthusiasm for the remainder of the afternoon.

7. MEDITATE. Just 15 minutes of mindfulness meditation can lead to more rational business decisions, not to mention better teamwork, more creativity and a whole slew of other health benefits.

Follow these tips and tricks, and you’re sure to see a boost in your productivity levels. Good luck and have fun!

SEPTEMBER 2018

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special report - kroll

SPORTS BETTING AND ANTI-MONEY LAUNDERING COMPLIANCE Contributors: John Arvanitis, Associate Managing Director, Compliance Risk and Diligence Bryan Hiller, Business Development Executive, Compliance Risk and Diligence Michael Ferguson, Business Development Director, Compliance Risk and Diligence

The May 2018 United States Supreme Court decision in Murphy v.

NCAA opened the door to legalized sports betting.

A

s a result, a multi-billion dollar untapped industry was unleashed, with countless brick and mortar venues and online gambling platforms seeking access to this market. Subsequent to the Court’s decision, the Meadowlands Racetrack, in New Jersey, took in approximately $3.5 million in sports bets in its first nine days, despite a relatively slow period in professional and collegiate sports.

As money continues to flood in, the industry will soon be potentially subject to various state

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SEPTEMBER 2018

and federal regulation. Recently, state legislatures have begun empaneling commissions to study how to regulate the industry, with an emphasis on ensuring compliance and appropriate due diligence being conducted to meet potential regulatory obligations relating to anti-money laundering and terrorist financing, fraud, tax-reporting, collection concerns, data privacy relating to Personally Identifiable Information (PII), cyber security, IT infrastructure vulnerabilities and ultimately the integrity of any game. The ability to provide, those involved in this industry, with timely and impactful information relating to those conducting wagers TABLE OF CONTENTS

and their source of wealth, in approved jurisdiction, will allow for the evolution of the industry in a manner that meets the regulatory and compliance requirements established for this sought after experience.

It is anticipated that the decision will call for all jurisdictions seeking to pass legislation legalizing sports betting to establish an effective compliance program that requires gambling outlets, casino partners and online betting platform to adhere with the Bank Secrecy Act (“BSA) and all of its provisions See Continued Page 34 www.chart-exchange.com

Be Cyber Resilient From cyber risk assessments and penetration testing to incident response and investigations, Kroll's global cyber experts are ready to help you and your insureds along the path to cyber resilience.

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Bringing U.S. Entrepreneurship to the London Market The CHART/Wilson Elser strategic partnership combines the innovative underwriting philosophy of the world’s oldest insurance brand with the entrepreneurial mindset of U.S. agencies.

For close to 40 years, Wilson Elser has helped organizations to better navigate challenging markets and realize improved combined ratios. We provide London- and Europe-based insurers with ready access to more than 60 discrete legal services delivered by nearly 800 attorneys in 34 strategic locations throughout the United States.

Guided by a proprietary, systematic legal project management program, we help clients define strategies and achieve outcomes that align with agreed business requirements. We also implement dedicated Program Claim/Litigation Management services, creating value and driving efficiencies with respect to legal spend and indemnity.

Wilson Elser is especially proud of its strategic partnership with CHART Exchange and our shared commitment to strengthening relationships between cover holders and risk takers on either side of the Atlantic.

wilsonelser.com Š 2017 Wilson Elser. All rights reserved. 567-17

news - wilson elser

BEST LAWYERS IN AMERICA 2019 INCLUDES 35 WILSON ELSER ATTORNEYS

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est Lawyers® in America has named 35 Wilson Elser attorneys representing 16 of the firm’s U.S. offices to its 2019 edition published on August 15, 2018. Senior Counsel Patrick M. Kelly also was named Lawyer of the Year in Arbitration.

Finance Law, Corporate Law Brian J. Whiteman, Partner: Insurance Law

Malpractice Law – Defendants

HOUSTON, TX

Julie R. Evans, Of Counsel: Mass Tort Litigation / Class Actions – Defendants Robin N. Gregory, Partner: Medical Malpractice Law -– Defendants Lois K. Ottombrino, Senior Counsel: Medical Malpractice Law – Defendants Debra Tama, Partner: Insurance Law George N. Tompkins III, Partner: Personal Injury Litigation – Defendants

Ronald L. White, Of Counsel: Admiralty & Maritime Law LIVONIA, MI

WILSON ELSER BEST LAWYERS IN AMERICA 2019:

John T. Eads III, Partner: Personal Injury Litigation – Defendants, Product Liability Litigation – Defendants

AUSTIN, TX

LAS VEGAS, NV

Lawrence A. Waks, Partner: Media Law

Richard I. Dreitzer, Partner: Employment Law – Management

BALTIMORE, MD Angela W. Russell, Partner: Professional Malpractice Law – Defendants Marisa Trasatti, Partner: Product Liability Litigation – Defendants BOSTON, MA William T. Bogaert, Partner: Insurance Law Christopher P. Flanagan, Partner: Personal Injury Litigation –- Defendants CHICAGO, IL Daniel J. McMahon, Partner: Commercial Litigation DALLAS, TX Lawrence A. Waks, Partner: Media Law FLORHAM PARK, NJ Anne M. Dalena, Of Counsel: Litigation – Insurance, Insurance Law Kevin C. Donovan, Partner: Employment Law – Management, Litigation – Labor and Employment Roger R. Gottilla, Senior Counsel: Banking and Finance Law Thomas F. Quinn, Partner: Insurance Law, Legal Malpractice Law – Defendants Michael P. Turner, Partner: Banking and www.chart-exchange.com

LOS ANGELES, CA William K. Enger, Partner: Admiralty & Maritime Law David S. Eisen, Partner: Commercial Litigation William Tolin Gay, Partner: Mergers and Acquisitions Law, Corporate Law, Corporate Governance Law, Corporate Compliance Law Patrick M. Kelly, Senior Counsel: Commercial Litigation, Arbitration (Lawyer of the Year)

NEW YORK, NY

SAN DIEGO, CA Robert W. Harrison, Partner: Labor Law – Management, Medical Malpractice Law – Defendants, Professional Malpractice Law – Defendants Patrick J. Kearns, Partner: Medical Malpractice Law – Defendants SAN FRANCISCO, CA William M. Hake, Partner: Product Liability Litigation – Defendants WASHINGTON, DC Robert W. Goodson, Partner: Medical Malpractice Law – Defendants

LOUISVILLE, KY

WHITE PLAINS, NY

James M. Burd, Partner: Personal Injury Litigation – Defendants, Medical Malpractice Law – Defendants, Litigation – Insurance Marcia L. Pearson, Partner: Litigation – Health Care, Medical Malpractice Law – Defendants

Carl J. Pernicone, Partner: Litigation – Insurance Thomas W. Tobin, Partner: Railroad Law

MCLEAN, VA Thomas L. Appler, Of Counsel: Legal Malpractice Law – Defendants, Medical Malpractice Law – Defendants, Professional Malpractice Law - Defendants Cynthia L. Santoni, Partner: Medical TABLE OF CONTENTS

First published in 1983, Best Lawyers is regarded as the definitive guide to legal excellence. Best Lawyers lists are compiled based on an exhaustive peer-review evaluation. More than 79,000 leading attorneys globally are eligible to vote, and Best Lawyers has received more

SEPTEMBER 2018

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SEPTEMBER 2018

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news - vantage agora

WHAT DO ROCKEFELLER, CARNEGIE & AN NBA STAR HAVE IN COMMON? What unites an oil tycoon, a steel magnate and an NBA star? Vantage Agora’s 2018 Operational Excellence Workshop at The Metropolitan at The 9!

By Allison Shumaker

I

n the early 1900’s, the Cleveland Trust Rotunda was one of the largest banks in the USA. Its foundation was made of four steel vaults that housed everything from large sums of cash to fur coats to jewelry in safe deposit boxes – even the oil tycoon John D. Rockefeller and steel magnate Andrew Carnegie stored their wealth in the massive safes. So what could these iconic figures possibly have in common with NBA Hall of Famer Dan Issel? Vantage Agora’s 2018 Operational Excellence Workshop!

That’s right – in 2018, an NBA great will grace the same space as legends like Rockefeller and Carnegie.

By providing broad, cross-sector advice, Vantage Agora presents the principles of Operational Excellence and gives you useable information to increase profitability and productivity in your business.

WHAT IS VANTAGE AGORA’S 2018 OX WORKSHOP? Vantage Agora OX Workshop brings together industry experts from technology, accounting, insurance and more to share their business acumen and use their combined knowledge to tackle common business challenges.

This year, speakers range from Dan Issel, former coach of the Denver Nuggets and the 5th ranked all-time points scorer for the ABA/NBA to CEOs from the accounting industry to employee development professionals.

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For more information on Vantage Agora, please contact Allison Shumaker, Marketing Manager: allison@vantageagora.com

888•246•7211 X 107

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WHY DID VANTAGE AGORA CHOOSE THE 9 FOR THE 2018 OX WORKSHOP? Since we want to provide our attendees with a relaxing, yet professional atmosphere, The Metropolitan at The 9 is the perfect place for the workshop.

The now revamped Cleveland Trust Rotunda has been remodeled into a gorgeous hotel with swanky accommodations and classy conference rooms that allow guests to network in comfort and style.

And, if you sign up for the workshop, you can join us in The Vault for our speakeasy-themed cocktail reception on Wednesday, October 17. It’s your chance to spend an evening socializing with pros while enjoying handcrafted drinks from mixologists and chef-inspired small plates – all set against the same historic background that inspired some of the wealthiest and most brilliant businesspeople of all time.

Haven’t registered for Vantage Agora’s 2018 OX Workshop? Click here to reserve your spot today! www.chart-exchange.com

Join Us!

Hosted by Vantage Agora, creators of OX Zion, the 3rd Annual 2018 OX Workshop will be an opportunity to network, discuss and solve business problems within the industry through shared experiences, advice and guidance. This will be the perfect opportunity to ask questions, provide feedback, gather valuable ideas to optimize your productivity and become one step closer to achieving Operational Excellence within your organization.

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Partners who understand your needs.

York Risk Services Group, Inc. is honored to be a Preferred Vendor Partner of the CHART Exchange. We are a premier provider of TPA Services, Specialized Loss Adjusting, Customized Claim Solutions, & Risk Control Services for Lloyd’s of London & the London company market.

We offer: Dedicated Binding Authority Adjusting Team Dedicated E&S/Specialty Lines Open Market Adjusters Back office team for banking, bordereau production, MI reporting Customized Physical Risk Assessments (Risk Control) Virtual Risk Evaluation Services

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news - Lloyd’s of London

LLOYDS NEWS ROUNDUP

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loyd’s syndicates beat first quarter electronic placement targets August 13, 2018 Placing Platform Limited (PPL) has released the market wide data for risks on the electronic placement platform for the first quarter of official reporting, ending June 2018.

HIGHLIGHTS FROM THE LLOYD’S MARKET INCLUDED: •

•

•

•

Across the entire market syndicates accepted 16.3% of in scope risks through electronic placement.

56% of syndicates met or exceeded the target to have placed 10% of in scope risks.

The highest level of adoption for a syndicate was 54% of all in scope risks.

31% did not reach the target and 13% reported that they had no in scope risks during the period.

One hundred percent of Lloyd’s syndicates reported under the mandate – announced in March – which required that from the end of Q2 this year each syndicate would write no less than 10% of its risks electronically. This target will rise by 10% each quarter until Q4 2018 (to 30%). Further targets will be confirmed prior to the end of Q4 2018. The mandate is www.chart-exchange.com

designed to accelerate the market’s transformation from paper to digital and ensure the market realises the benefits of electronic placement.

organisations is how we became the world’s leading insurance market.

Setting up a subsidiary in Brussels is a continuation of that fine tradition.”

Electronic placement and the market’s adoption of PPL is a key component of the London Market Target Operating Model (TOM) programme.

London to remain global re/ insurance hub post-Brexit, but stronger headwinds exist: A.M. Best August 20, 2018, Reinsurance News, Luke Gallin

Lloyd’s strong financial ratings confirmed for Lloyd’s Brussels August 10, 2018 Lloyd’s Brussels (Lloyd’s Insurance Company S.A.) has been assigned the same financial ratings as Lloyd’s by ratings agencies A.M. Best, Standard & Poor’s and Fitch Ratings.

Despite a lack of clarity surrounding the UK’s Brexit vote and what implications this might have for UK insurers and reinsurers, A.M. Best expects London to remain one of the world’s leading European insurance hubs, but does warn of headwinds that continue to pressure the region’s re/insurance industry.

THEY ARE: • • •

A.M. Best: A Standard & Poor’s: A+ Fitch Ratings: AA-

Vincent Vandendael, Chief Executive Officer of Lloyd’s Brussels, said: “These ratings recognise the importance of Lloyd’s Brussels as an insurer for risks from the European Economic Area, and it means that our partners and clients across the region will continue to benefit from Lloyd’s strong financial ratings and the security of our central fund. The EEA has always been an important market for Lloyd’s, and meeting the insurance needs of companies and TABLE OF CONTENTS

UK insurers and reinsurers continue to move forward with their postBrexit plans, establishing EU subsidiaries to ensure they can continue to operate in the same manner when the UK does eventually leave the European Union (EU).

Exactly what the operating landscape for insurers and reinsurers in the country will look like post-Brexit remains unclear. However, in a recent briefing, ratings agency A.M. Best said, that in spite of Brexit, it’s likely See Lloyd’s News Roundup Page 26

SEPTEMBER 2018

25

News - Lloyd’s of London Continued From Page 25

LLOYD’S NEWS ROUNDUP that London will remain one of the world’s leading insurance hubs in Europe, driven by its large pool of underwriting talent and access to related services.

uncertainty brought about by Brexit, which exacerbates the issue, has unsurprisingly not been welcomed across the Lloyd’s and broader London market.

The Lloyd’s market has been under pressure for some time to reform, as while it remains a very important global insurance and reinsurance centre, it’s still very expensive to do business at Lloyd’s, and the marketplace has also been accused of being too slow to adopt innovations driven by the rise of technology and its influence on the global risk transfer space.

Add to this the profitability pressures driven by a prolonged soft market state, although this was somewhat alleviated by the impact of 2017 catastrophe events and the subsequent rate Lloyd’s of London CEO improvements (although “Furthermore, the Inga Beale who assumed these are already fading), London market is her post in 2013, as the first woman to hold the job, and it could be that currently under has announced she will be Lloyd’s and the broader pressure from other, stepping down in 2019 London market have arguably stronger, some challenging times ahead. forces, including alternative capital, market consolidation and the Lloyd’s is the oldest insurance market pressing need for process reform,” in the world, and remains a very said A.M. Best. important and influential part of the global insurance and reinsurance Lloyd’s Chief Executive Officer (CEO), Inga Beale, who is to step down from industry, and A.M. Best feels this is likely to remain the case post-Brexit. her position in 2019, warned earlier However, it’s important the Lloyd’s this year that the London market is and broader London market adapts losing market share and relevance to to the changing market landscape, emerging re/insurance hubs, so the “Nevertheless, the detail of any negotiated trade deal between the UK and the EU will have a longer-term impact on the UK insurance sector.

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SEPTEMBER 2018

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which includes embracing disruptive but potentially rewarding forces, such as technology and alternative reinsurance capital, in order to remain relevant and competitive both now and in the future.

LLOYD’S TO REVIEW ENTIRE OPERATION International news agency Reuters, headquartered in London, recently published a report on Lloyd’s reviewing their operation after a $2.6 Billion loss and the announcement that Inga Beale, CEO would be stepping down. According to the report: “The review, coming after a 2-billionpound ($2.64-billion) loss last year and the news in June that CEO Inga Beale will step down, goes to the core of the institution’s hybrid personality, senior insurers and other officials in London’s financial services sector said.

Lloyd’s has been holding board and other internal meetings and separate discussions with broader market participants on the best way forward, the officials said. Precise details of the review have not been disclosed, they said.

“A strategic review is being worked on,” said one financial services source, asking not to be named because he was not authorized to discuss it. Another source, a senior executive at a firm that supplies services to Lloyd’s members, said he understood that included looking at its unique structure.” www.chart-exchange.com

News - Wilson Elser

WOMEN ATTORNEYS ARE HIGH ACHIEVERS AT WILSON ELSER

R

eflective of the hiring practices at Wilson Elser, the tenacity of the women hired and the firm’s commitment to retention of women attorneys, the firm has scored high in two noted rankings for 2018 by The American Lawyer.

The American Lawyer ranked Wilson Elser #20 on The Women’s Scorecard!

This annual ranking is produced as part of a NLJ 500 firm headcount

report, with the largest 350 firms eligible for tabulation.

CHART DEFENDER COVERHOLDER E&O AVAILABLE NOW!

Additionally, Wilson Elser hit the A-List in terms of percentage of women equity partners, placing #73 out of the 184 firms! Back to back, these scores are based on the percentage of women attorneys in various roles within their firms and reflect Wilson Elser’s continued dedication to value and empowering women attorneys in the firm.

Mark Lann Phone:

305-248-9495 Email: chart.eo@rockwoodinsurance.com

Stock Photo

The American Lawyer ranked Wilson Elser #20 on The Women’s Scorecard!

www.chart-exchange.com

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ANALYSIS - Fortegra

INDUSTRY INSIGHTS: HOW CONSUMERS ARE CHANGING THE BUSINESS LANDSCAPE

Consumers are drastically changing the way companies do business.

How can industries keep pace and generate revenue?

THE LURE OF EXTRA BENEFITS

CONSUMERS ARE DRASTICALLY CHANGING THE WAY COMPANIES DO BUSINESS. How can industries keep pace and generate revenue?

The way the world watches TV is changing, challenging cable companies to make a move. In an article in Multichannel News, Fortegra VP of New Markets Roger High shared how cable companies can compete with streaming services to better serve consumers.

He focuses on the importance of catering to the customer to maintain a strong, loyal base, and how to attract new consumers through additional offerings.

When taking a look at recent trends, one can see just how much consumers have impacted the way we do business—from their expectations, to their spending habits, to even how their age plays a role. Observing these trends, our experts have gleaned some critical insights about how companies can adapt and take advantage. Check ‘em out.

THE IMPORTANCE OF CUSTOMIZATION When it comes to exceptional retail customer service, customization is key—especially for the Millennial generation. According to a recent Accenture survey, 41 percent of respondents said they’ll look for an item in a store, but then try to find it for a cheaper price online. In a recent Fortegra blog, Steve Davidson shared how retailers can cater to this savvy generation to keep them coming back for more.

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SEPTEMBER 2018

THE OPPORTUNITY PRESENTED BY TRENDS Want to build customer loyalty?

Meet them where they are. Studies show consumers are keeping their phones longer rather than replacing them. At first glance, this may seem like a negative. But when we dig a

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little deeper, it’s clear that this trend can benefit consumer electronics retailers. Paying attention to what your consumers are doing allows you to adjust your strategy accordingly. Roger High recently dove into the topic in this Fortegra blog.

THE ADVANTAGES OF DATA ANALYSIS Lastly, today’s consumers are becoming accustomed to sharing more data than ever before.

Utilize this data to customize offerings for consumers. While this is applicable for many industries, the auto industry is a prime example. In a recent article in Digital Insurance, Fortegra VP of Specialty Programs Joe Alberti shared how telematics can benefit consumers by offering customized and affordable auto policy plans that give customers the best bang for their buck.

For more industry insights like these, check out the Fortegra blog!

www.chart-exchange.com

CC0 1.0 Universal (CC0 1.0) Public Domain Dedication

By Scott McLaren, CMO

Your Partner for Admitted Market Capacity

1

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Learn how Fortegra’s admitted program can help you Experience More at fortegra.com/programs, or via email at programs@fortegra.com.

Fortegra® is the marketing name for the specialty underwriting operations of Fortegra Financial Corporation and its subsidiaries. Specialty underwriting program availability varies by jurisdiction. Where available, the programs are underwritten by admitted insurance companies.

Analysis - Fortegra

3 DEMOGRAPHICS THAT NEED DEVICE PROTECTION THE MOST Men, sports fans, and teenagers—believe it or not, all three are highly likely to damage their mobile devices. That’s where a little extra protection can come in handy.

By Jon Mikow - Vice President, Wireless, Fortegra

I

Sporting events can present a volatile mix of rivalry and revelry, often fueled by alcohol. Obviously, none of these things are particularly safe for delicate items like wireless devices, especially when the pressure is really on and the blood begins to boil.

n 2016, around 1.5 billion smartphones were sold worldwide. As the number of total devices continues to rise, so does the number of those that get damaged.

On average, device damage costs Americans around $10.7 billion a year.

Liquid With such an expensive fix, many submersion consumers want to know how they can is one of the prevent these damages before they happen. most common ways Well, a little self-awareness is a great place to start. While anyone can experience a mobile mishap, certain demographics are more likely to damage their devices than others. So, if you fall into one of the three categories listed below, you may want to think long and hard about additional protection when purchasing a new wireless device.

to damage a device?

Liquid damage ruins nearly 11 percent of phones every year, and it often plagues men more than women.“

MEN ARE 57 PERCENT MORE LIKELY TO DROP THEIR PHONES IN THE TOILET. Did you know that liquid submersion is one of the most common ways to damage a device? Liquid damage ruins nearly 11 percent of phones every year, and it often plagues men more than women. This can probably be attributed to many men often carrying their phones or other devices in their back pockets. One wrong move and a wireless device could experience its first swirly.

12 PERCENT OF FANS HAVE THROWN THEIR DEVICE WHILE WATCHING A SPORTING EVENT.

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While some people throw their remote, others throw their phone. If you fall in the latter category, you may want to consider additional device protection.

Oh, and sporting events are also a highrisk environment for that pesky liquid damage. 13 percent of sports fans have dropped their device…into their beer!

Talk about a buzz kill.

50 PERCENT OF TEENS CLAIM THEY WOULD PREFER A BROKEN BONE THAN A BROKEN PHONE

Yes, you read that right: half of teens find a fracture preferable to a broken wireless device. While we hope no teenager has to make that choice, they may want to choose to add a little extra protection for their phones given that teens are 16 percent more likely to damage their devices than older generations. Being a teen often involves raucous football games, pool parties, and numerous other spontaneous activities, all of which can put a device in jeopardy.

If you’re a passionate sports fan, parent of a teenager, or just a guy who simply likes to keep his phone in his back pocket, sorry: you’re at higher risk for device damage. Luckily, there are valuable warranty and protection programs that can help you overcome the risks. To learn more about your device protection options, visit Fortegra.com!

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www.chart-exchange.com

News - Fortegra

FORTEGRA ADDS TOM SCOTT TO BUSINESS DEVELOPMENT TEAM

By Steve Davidson

Industry vet set to build relationships with company’s consumer product clients

J

ACKSONVILLE, Fla. (July 18, 2018) – Fortegra Financial Corporation (“Fortegra”), a leading international specialty insurance holding company and subsidiary of Tiptree Inc. (NASDAQ:TIPT) (“Tiptree”), today announces the appointment of Tom Scott as Vice President of Business Development, Consumer Products. Mr. Scott will be chiefly responsible for establishing and growing strategic relationships by offering service contract, warranty and insurance solutions to clients in the global consumer product marketplace.

“We are delighted to have Tom join our team,” said Steve Davidson, Fortegra Vice President, Product Warranty Group. “He possesses retail, commercial, and client relations experience that will prove critical to accelerating Fortegra’s business growth.”

Bringing more than 20 years of experience from a variety of industries, Mr. Scott’s background includes business development and marketing and sales management in corporate as well as community organizations. An honor society graduate of the University of Utah with an MBA from Westminster College, Mr. Scott is also a recent recipient of a Business Innovation & Entrepreneurship Certificate from Stanford University.

Mr. Scott. “With its investments in IT, service network providers, and customer solutions, the company can continue to expand into a number of product verticals.

Unlike many competitors, Fortegra understands that the customer journey doesn’t end at the point of sale. We see enormous opportunity for the growth of both Fortegra and our clients around the globe.”

Proud supporters of CHART

Serving coverholders’ needs since the 1930s … and into the future Bespoke solutions Packaged lines Enhanced commissions Web-based platforms US domiciled marketing office Access us through 170 Lloyd’s brokers

AtriumUw

www.atrium-uw.com

Atrium Underwriters Ltd

“This is an exciting time for Fortegra,” said www.chart-exchange.com

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special report - Kroll Continued From Page 16

SPORTS BETTING AND ANTI-MONEY LAUNDERING COMPLIANCE relating to anti-money laundering laws and regulations. Potentially as part of this requirement, the industry will be called upon to develop, monitor and maintain multifaceted compliance programs that are robust and risk based, offer training and education to their staff, maintain

a Customer Identification Program and conduct appropriate Know Your Customer screening/due diligence inquiries and file Suspicious Activity and Currency Transaction reports accordingly. In addition, casinos also have regulatory responsibilities under the Office of Foreign

Assets Control (“OFAC�) laws and regulations, regardless of whether they meet the definition of an FI. Although enhanced AML measures may not be warranted in every situation, casinos and/ or independent sports betting outlets should take note that federal regulators, including the Financial Crimes Enforcement Network (FinCEN) of the US Treasury Department, will closely monitor sports betting to ensure appropriate efforts are being made to identify and mitigate risk, risky behavior and those individuals involved in the activity.

J

ohn Arvanitis, Associate Managing Director, Compliance Risk and Diligence John advises clients worldwide on anti-money laundering matters and other aspects of compliance programs, bringing impactful and valuable insight to their challenges via hisextensive international and domestic financial investigative experience. He has significant experience across a broad range of compliance-related programs, including anti-money laundering, know your customer, global AML processes, and program and policy formation.

B

ryan Hiller, Business Development Executive, Compliance Risk and Diligence With a background that includes private law practice specializing in dispute resolution, Bryan applies over 10 years of legal and corporate knowledge to help clients answer their due diligence needs. Based in New York, Bryan works with a range of financial institutions, of all sizes, to help develop effective strategies to deal with the due diligence and the BSA in order to verify, validate and authenticate customers for KYC programs and to navigate evolving regulatory hurdles.

M

ichael Ferguson, Business Development Director, Compliance Risk and Diligence Mike joined Kroll in 2018 after a distinguished 28-year career with the U.S. Drug Enforcement Administration (DEA). He assists clients with developing and maintaining a compliance program that is risk based with the appropriate due diligence to meet potential regulatory obligations relating to anti-money laundering, the Bank Secrecy Act, terrorist financing, fraud, tax reporting, collection concerns, data privacy, cyber security, IT infrastructure vulnerabilities and ultimately the integrity of the game. Mike utilizes his international and US investigative experience in the area of money laundering and anti-corruption to give his clients a real-life perspective of the challenges they will face in the legalized gambling space.

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www.chart-exchange.com

special report - KROLL Kroll, a division of Duff & Phelps (“Kroll”), has long been at the forefront of developing compliance programs and policies that address the changing needs of clients as they grow and adapt to a myriad of complex laws and regulations. Kroll has consistently sought to help our clients comply with regional, national and international programs to identify and ultimately mitigate risk in order to protect the integrity of their brand and reputation in the market. In line with this initiative, Kroll has launched a Sports Gaming and Betting Advisory Group, which will draw on the firm’s extensive experience with clients in the sports and gaming industries and its strong reputation as an independent fact finder, monitor and due diligence provider to global clients.

As part of this rapidly evolving enterprise and its potential for online sports gambling, the industry mandates a quick solution for due diligence and background investigations regarding your Customer. The Kroll Compliance Portal can provide betting institutions with capabilities designed to bring efficiency, effectiveness and consistency to their customer identification programs, by allowing them to utilize a web-based technological solution that in real time allows them to screen individuals for Sanctions and Enforcement related information maintained on watch lists and enforcement databases.

The immediacy of the response

www.chart-exchange.com

would allow for those involved in this industry to make decisions on the fly on whether to accept specific players and their wagers. The solution can proactively assess a customer’s risk profile on an automated and customized basis, provide risk event notifications, false positive review and systematically maintain all profiles for regulatory reporting.

As part of this rapid work flow methodology and thorough baseline response, venues are more likely to accurately identify individuals, as part of their vetting process and requirements.

The path to compliance with regulatory standard in the sports betting space following the Supreme Court’s decision begins with recognizing areas of risk. With money laundering, terrorist financing and the integrity of the game serving as some of the primary risk facing the gaming industry, it is imperative at this time that all stakeholders work together to establish regulatory requirements that protect the venues offering these services to those seeking to participate. By taking a programmatic, riskbased approach and conducting appropriate screening and due diligence – that includes automated pretransaction screening, regular post-onboarding monitoring and/or an information gathering vetting process – sports gambling organizations can better position themselves and their brands to mitigate the compliance risk they potentially face in the brave new world of legalized sports betting.

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News - M&A Services

RAYMOND ROCCHIO JOINS MERGER & ACQUISITION SERVICES

N

ew York, New York— August 13, 2018 – Merger & Acquisition Services Inc., is pleased to announce that Raymond Rocchio has joined the firm as a Managing Director of their Program Insurance Group.

Mr. Rocchio comes to M&A with over 20 years of experience in the insurance & reinsurance industry. As a former Vice President for Old Republic (NYSE: ORI), he had full P&L accountability for their alternative products division which was newly created to take advantage of specialty insurance market opportunities. Mr. Rocchio served as an operating officer for Risk Management Services at PMA Companies, leading their largest field office. Prior to Old Republic and PMA, he began his career at Travelers Insurance.

“We are very pleased to have Ray joining M&A and excited about his background in the insurance program world,” said Jason Murgio, Principal of M&A. “His experience in developing and structuring specialty programs will truly help our clients find the best available options. Having worked with Ray in the past, we know the

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SEPTEMBER 2018

capabilities he brings and look forward to him working with both our existing as well as new clients.”

“I am excited to join Jason and his team as we look to build and expand Program opportunities”, stated Ray Rocchio. “It’s a great time to be developing tailored products and helping clients build solutions for their needs. I look forward to helping consult potential clients with their needs in the various services M&A provides.”

WOULD YOU LIKE TO HAVE YOUR MESSAGE DELIVERED TO 100,000+ FOCUSED INSURANCE INDUSTRY EMAIL ADDRESSES EVERY MONTH?

Mr. Rocchio is a graduate of West Chester University. He was honorably discharged from active duty in the United States Army where he served as a captain in the Transportation Corps.

Merger & Acquisition Services, Inc. is a specialist advisory and financial services Firm to the insurance and reinsurance industry, with offices in New York, Connecticut, Georgia & Cayman Islands.

Founded in 1999, the Firm and its affiliates provides investment banking and insurance consulting services globallyincluding; merger & acquisition advisory capital raising, valuations, program placement/fronting, and reinsurance advisory.

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I’m Kate Boyle Managing Editor. I handle CHART Exchange Advertising. Call me at 302 765-6056 and let’s have a conversation.

www.chart-exchange.com

NOW HERE’S A REAL SHOCK… The first firearm liability product that can be sold by independent insurance agents!

It is estimated that nearly 80 million Americans own at least one firearm. But what happens if a law-abiding citizen is actually forced to use that weapon to protect themselves, a loved one, or their personal property? Many homeowner policies specifically exclude firearm use — even in self defense — as a covered exposure, deeming it to be an intentional act. That leaves the gun owner personally liable for legal expenses, bail bond costs, and any judgments awarded through a civil action.

As an insurance agent, you are in the best position to explain the significant personal liability exposure faced by your gun-owning clients. Unfortunately, you haven’t been able to help your clients by offering a product to address this need — until now.

Rockwood Programs now offers a firearm liability policy designed to protect insureds against civil or criminal actions resulting from the use of a gun in self-defense. It is the only one available in the industry that can be sold through insurance agents. A wide variety of limit options are available, ranging from $50,000 to $5 million. Annual premiums start at just $135.

Best of all, we make it easy for you to present the firearm liability product to your clients. An inventory of customizable sales aids is available, including marketing brochures, simplified self-rating applications, and more. Our team can even help provide product-specific content for your website!

Visit us at www.rockwoodinsurance.com to learn more We can also accommodate group accounts (police, security, gun clubs, etc.).

E-mail: president@rockwoodinsurance.com

Rockwood Programs, Inc., 3001 Philadelphia Pike, Claymont, DE 19703 p: 800-558-8808 • f: 302-764-5477 • e: sales@rockwoodinsurance.com

www.chart-exchange.com

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FORESTRY WORLDWIDE FORESTRY (RE)INSURANCE FACILITY Pardus was established in 2013 by Keith Thompson, formally CEO of Advent capital Holdings Ltd and Darren Stockman Active Underwriter of Syndicate 780 and Director of Advent Underwriting Ltd. Pardus are an independent Managing General Underwriter, a Lloyd’s approved Coverholder, and an appointed representative of Capita Commercial Insurances Limited.

Cover

Maximum line of USD 8.5M any one risk, any one location. Capacity provided by Lloyd’s of London and “A-” rated company paper. Perils covered mainly Fire and Windstorm, but we can offer additional coverage for hail, ice, snow, frost.

We cannot cover Pest and Disease, although we can offer cover under a small sublimit for Pest and Disease treatment costs.

Sublimits available for fire-fighting costs, aerial photography, debris removal, claims preparation costs etc.

Frost

Hail

Snow & Ice Storm

Flood

PERILS COVERED Rainfall Deficiency

Fire

Malicious Damage

Windstorm

Business Interruption is offered when fruiting trees are destroyed by covered physical damage perils, leading to a loss of yield while the new trees develop •

We have specialist Pardus facilities in place to cover Public Liability (in Europe) and associated forestry Plant and Machinery risks

OUR TAILORED PRODUCTS

Full Value and Value at Risk

Full Value works in the traditional way with insurer retaining any salvageable value from the insured property.

Value at Risk leaves an agreed salvage (based on salvage scales developed by Pardus using age and species data) in the ownership of the client.

Pardus then only insure the non-salvage element meaning the final rate will be applied to a fraction of the TSI generating a lower overall cost to the client.

Target business: •

We are keen to see any enquiry for standing timber commercial planation forestry

• •

Information requirements for quote: •

Perils to be insured against

•

Schedule of forest locations by values, age, species

Forestry risks with accreditation from the Forestry Stewardship

Locational information needs to be provided in either

Council (or similar)

shape file format (.kmz) or the latitude/longitude

Forest Owners comprise:

coordinates of the centre point of each location

-

Individual investors

•

5-10-year ground-up loss experience by peril

-

Commercial Plantation Companies

•

Desired policy structure:

-

Individual Forest Owners

-

Timberland and Investment Management Organisations

-

(TIMO’s)

•

Additional features: -

-

Forest Management Organisations (FMO’s)

-

Real Estate Investment Trusts (REIT’s)

-

Banks loans made to forest owners or fruit tree owners

-

Forest Owner Associations

Deductibles, limit etc Firefighting costs, claims preparation, aerial photography, plantation infrastructure

To download our full forestry questionnaire, please visit our website https://pardusunderwriting.com/products/forestry/

Exclusions

Property

Buildings

Terrorism

Pest and Disease

Drought

Crop

Fruits, Nuts etc

Phil Cottle - Senior Agricultural Underwriter Direct +44 (0)203 735 1608 Mobile +44 (0)7769 895048 phil.cottle@pardusunderwriting.com Dan Longden Cert CII - Underwriting Assistant

Direct +44 (0)203 735 1610 Mobile +44 (0)7756 961500 daniel.longden@pardusunderwriting.com

Pardus Underwriting Ltd. 1st Floor, 3 Lloyd’s Avenue, London, EC3N 3DS www.pardusunderwriting.com

“We have access to a worldwide forestry binding authority covering the physical damage to commercial forestry. There is a maximum line of USD 8,500,000 any one risk, any one location and the covered perils can be found on this flyer. This is written 100% Lloyd’s/company market and Prospect are the Insurance broker”

NEWS -Lloyd’s of London

VINCENT VANDENDAEL TO LEAVE LLOYD’S

L

loyd’s of London announced today that its Chief Commercial Officer, Vincent Vandendael, has decided to leave the Corporation after almost six years.

Vincent will be moving to Everest Insurance as CEO of International Insurance in early 2019.

Vincent joined Lloyd’s in December 2012 and as Chief Commercial Officer is responsible for all business development. He also leads Lloyd’s global network, which extends to 31 offices that support Lloyd’s licences to operate in over 200 territories worldwide.

As part of his role, Vincent has been a champion for innovation in the Lloyd’s market and has also been instrumental in establishing Lloyd’s Brussels subsidiary, which is due to open in 2019 ahead of the UK’s exit from the European Union.

With plans for Lloyd’s Brussels now well advanced, Vincent will be working with the team over the coming months to transition his responsibilities.

Inga Beale, Chief Executive Officer at Lloyd’s said: ‘Lloyd’s international

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network has flourished under Vincent’s leadership. We have seen strong and steady growth in established territories like the US, whilst building and developing Lloyd’s presence in China, Dubai and Singapore and winning new licences for the Lloyd’s market in countries that include Colombia, India and Morocco.

CHART DEFENDER COVERHOLDER E&O AVAILABLE NOW!

Vincent has energetically and enthusiastically flown the flag for Lloyd’s in every corner of the globe over the past six years. He will be greatly missed by the market and by everyone here at Lloyd’s. I have very much enjoyed working with Vincent and wish him every success in his new role.’

Vincent Vandendael, Chief Commercial Officer at Lloyd’s said: Lloyd’s is a tremendous global brand and it has been a privilege to work with such a talented and committed team over the past six years. Although I have decided it is time for me to move on, I look forward to seeing the Lloyd’s market continue to go from strength to strength in the years ahead.’

Mark Lann Phone:

305-248-9495 Email: chart.eo@rockwoodinsurance.com

Vincent’s leaving date will be confirmed in due course.

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Image Credit: Creative Commons

LLOYD’S OF LONDON

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Credit: Loco Steve Attribution-ShareAlike 2.0 Generic (CC BY-SA