Link to Lloyd's Newsletter

Link to Lloyd's Newsletter
February 2012

@linktolloyds \| @LloydsofLondon \| Linkedin \| Facebook \| lloyds.com In this issue Spotlight on ALB member Stateside Underwriting Agency Tom Oberwetter celebrates 25 years with Lloyd's Lloyd's in the US - their single biggest market Meet the new Insurance Associates officers Insurance Industry Charitable Foundation Midwest event to honor three with first-ever Frontier Awards

Stateside Underwriting Agency Building on more than 100 years of combined staff experience, Stateside Underwriting Agency is dedicated to providing the insurance industry with the highest standard of quality service and expertise. SUA currently services more than1,000 brokers. SUA was formed in 1995 by owner and ALB Board of Directors member Richard Nowell. It was originally located in Chicago, but now operates from McHenry, Illinois. Chad Gaizutis runs SUA’s Ohio branch in Chagrin Falls. Built on the desire to stand out as a Managing General Underwriter, SUA is currently celebrating its seventeenth year as a Specialty Lines Professional Liability risk underwriter. SUA has underwriting contracts with both Domestic (Best Rated “A and A+”), Lloyd’s, and London underwriters. SUA provides various forms of special risk insurance through these markets, including: Mortgage Bankers Bond Mortgage Company Protection Liability Mortgage Co. Surety Bond Title Agent/Escrow Agent Crime Bonds Title Agent/Escrow Agent E&O Title Agent/Escrow Agent Surety Bonds Miscellaneous Prof. Liability Financial Institution/Bank Fidelity Bonds Employment Practices Liability Hard To Place Lawyers Prof. Liability Mortgage Impairment Mortgage Fraud Protection Cyber Liability Architects & Engineers SUA remains committed to providing excellence in underwriting expertise. Their constant focus is on producing quality products and outstanding customer service. As technology, challenges, and opportunities change, SUA continues to raise the bar to maintain their role as a market leader Managing General Underwriter. Contact Richard Nowell RNowell@StatesideUnderwriting.com submissions@StatesideUnderwriting.com (815) 759-6800 5435 Bull Valley Road, Suite 212, McHenry, IL 60050 back to top

Tom Oberwetter celebrates 25 years with Lloyd's 25 years ago, Tom Oberwetter walked into the LaSalle National Bank Building and through the front door of an organization known then as the "Attorney-in-Fact for Certain Underwriters Licensed in Illinois." Tom embraced his new role as Liquor Liability Analyst with enthusiasm. Last month, Lloyd's Chairman John Nelson and Lloyd's CEO Richard Ward presented Tom with a token of appreciation for reaching this milestone anniversary with Lloyd's. For a quarter century, Tom has been involved with every aspect of Lloyd's operations in Illinois, including coverholder and open market correspondent approval, binding authority and open market policy processing, form and rate filing with the Illinois Department of Insurance, program setup, and Group Scheme review and guidance. He is the "go to" guy for compliance. As Manager, Compliance for Lloyd's in Illinois, Tom manages processing and compliance operations, and consults on IT and efficiency initiatives to provide Lloyd's Managing Agents, brokers and coverholders the resources necessary to achieve regulatory compliance and contract certainty - protecting the Lloyd’s brand and license in Illinois. Tom lives in Aurora, Illinois with his wife Lori and their daughter Grace. back to top

Lloyd's in the US - their single biggest market Lloyd’s has been a major force in the US insurance market for over a century, accounting for more than 40% of Lloyd’s global annual premium since the 1990s. From the devastating San Francisco earthquake of 1906 - which established their claims paying reputation - to catastrophes including Hurricane Katrina, the 9/11 terrorist attacks, and recent tornadoes in the Midwest and South - Lloyd's has been at the forefront of managing risk and claims in the US for many years. US business is without a doubt an important source of revenue to Lloyd's. To put things in perspective, the UK, Europe, and Asia Pacific regions combined accounted for 46% of Lloyd's total business in 2010 - only a few percent more than 2010 US business. Where can Lloyd's do business in the US? The majority of Lloyd's US business consists of surplus lines and reinsurance. As a surplus lines insurer in 49 states, Lloyd's writes business that admitted insurers can't... or won't! Lloyd's is an admitted insurer in Illinois, Kentucky and the US Virgin Islands. By the numbers In 2010 the US produced 37% of Lloyd’s global premium. Of this $12 bn figure, 60% was attributable to direct insurance and 40% to reinsurance Lloyd’s coverholders produce 32% of Lloyd’s US direct premium Lloyd’s maintained a leading position in the Excess & Surplus lines segment with 20% of the $28 bn E&S market Lloyd’s writes a leading share of the E&S market in California, Texas, Florida, Louisiana, and Georgia Lloyd’s writes reinsurance in all 50 states and has maintained a leading position among global reinsurers in the facultative and treaty segments, with 23% of the $24 bn US reinsurance market 2012 priorities Ensure Lloyd’s has a high profile in the US and is positively perceived by the industry, the business community, regulators and the media. Maintain active engagement with key stakeholders in the US distribution network – retail, wholesale and reinsurance brokers and coverholders (and those that support them), so that changes in this segment do not affect the flow of business to London. Continue providing information to managing agents and London brokers on the admitted, surplus lines, and reinsurance markets in the key Lloyd’s states, while facilitating the development of new relationships in these segments. Maintain the market’s ability to access business through effective and productive regulatory relationships. Ensure that Lloyd's operations remain cost effective and efficient. back to top

Meet the new Insurance Associates officers Insurance Associates - the auxiliary wing of the Association of Lloyd's Brokers - has a new slate of officers for 2012. You can learn more about IA and upcoming events here. Kevin Burt, President: Kevin is currently an Underwriting Specialist at CNA focusing on Miscellaneous Professional Liability within the Midwest territory. He has previous experience as a wholesale broker focusing on a Professional and General Liability program with Lloyd's for nursing homes. He has a BS in Insurance and a Minor in Economics from Illinois State University. In his spare time he enjoys golf, sports, poker, books, and cooking. Sarah Meyerhoff, VP: Sarah Meyerhoff is the Assistant Vice President for AmWINS Special Risk Underwriters in Chicago. She has been working as part of this MGA for 2 years and enjoys the dynamic workload. Sarah enjoys swimming and going to the movies. Katie DuMoulin, Treasurer: Katie DuMoulin is the Assistant Manger of Broker Services for Lloyd's in Illinois. She has been in the industry for 6 years and enjoys working with brokers on both sides of the pond. Katie loves to run and is currently training for her first half marathon. Lauren Dippel, Member at Large: Lauren has been with Aon since July 2005. She is now an associate account executive with Aon’s Global Client Network where she serves as a daily client contact on foreign program servicing issues and foreign casualty brokerage. Lauren has her B.S. in Finance from the University of Illinois at Urbana-Champaign. Lauren earned her certified insurance counselor (CIC) designation in June 2008. She loves to travel, but not during summertime in Chicago! Tom Mullins, Member at Large: Tom Mullins is a Commercial Lines Underwriter with Burns & Wilcox, Ltd. He graduated from the Katie School of Insurance & Financial Services with a degree in Insurance in 2010. At Burns & Wilcox, he works on all lines of business. Outside of the insurance world, he enjoys spending time with friends, family and his 2 year old Golden Retriever. Bob Pedersen, Member at Large: Bob Pedersen is a Primary E & S Underwriter for HCC. He is a graduate of Marquette University and has been in the insurance industry for 5 years. Bob's passions are developing insurance solutions for complex risks, fly fishing and playing golf. Shannon Piotrowski, Member at Large: Shannon Piotrowski is an underwriter with the E&S Primary Casualty Division of Navigators Management Company in Chicago. She is a graduate of Indiana University and has over 7 years of insurance industry experience. Shannon has been involved with IA since 2008 and enjoys spending all her spare time with her English Bulldog, Walter. back to top

Insurance Industry Charitable Foundation Midwest event to honor three with first-ever Frontier Awards The Insurance Industry Charitable Foundation Midwest division will honor three insurance industry employees for their outstanding community involvement with the first-ever Frontier Awards, being presented at the division’s inaugural “Blazing the Trail” fundraising event at the Field Museum in Chicago on Thursday, March 1, 2012. The IICF Midwest’s Frontier Awards recognize philanthropic leadership in the categories of health, safety and education: Sue Chmura with Encompass Insurance is recipient of the “Heart of the Frontier” award for health. Chmura volunteers for Illinois-based nonprofit organization Clearbrook, working with the “Take a Break” program, a respite volunteer program designed to provide a break to families with young children diagnosed with a developmental disability. Pat Hurston of CNA is being recognized with the “Spirit of the Frontier” award for safety. Hurston volunteers for Annie’s Legacy, a non-profit that provides resources to women survivors of domestic violence. Randall Mauch at Swiss Re America is being honored with the “Minds for the Frontier” award for education. Mauch volunteers at Glenkirk, a nonprofit organization providing quality, lifetime support and services that empower individuals with developmental disabilities to participate fully in all areas of community life. Additionally, the IICF Midwest division will present its “Trailblazer Award” to Bears Care, the charitable beneficiary of the Chicago Bears, for its work in education, medical research and health awareness. “The IICF Midwest division works to support and collaborate with partners in the community,” explained Kathleen Savio, EVP and chief administrative officer of Zurich North America Commercial and IICF Midwest division board chair. “Our efforts, while nascent, are focused on amplifying the positive impact that philanthropic and volunteer leaders are making on those members of our community who are in need.” J.B. Pritzker will address the event as keynote speaker. Pritzker founded venture capital firm New World Ventures; co-leads private investment firm The Pritzker Group; and is a principal owner of Hyatt Hotels Corp. and TransUnion Corp. He also heads the Pritzker Family Foundation, which focuses on early childhood education and development. J. Eric Smith, president and CEO of Swiss Reinsurance America Corp., is serving as dinner chair. IICF Midwest division board of directors companies are among the top event sponsors and include ACE Group, Aon Risk Solutions, Chubb & Son, CNA, Dewey & LeBoeuf, Encompass Insurance, Ernst & Young, HUB International Unlimited, Lloyd’s America, Macquarie Capital, McKinsey & Company, Milliman, R-T Specialty, Swiss Re, Wells Fargo Insurance Services USA Inc., Willis Group and presenting sponsor Zurich. For information on tickets and sponsorship opportunities for the event, contact Kimberly Saccaro, IICF Midwest division executive director, at (312) 384-0644 or kbsaccaro@IICF.com. About Chicago Bears Care The Chicago Bears Football Club is dedicated to making a difference in our community. Through its charitable beneficiary, Bears Care, the organization seeks to improve the lives of others by investing in initiatives that support education, youth athletics, and medical research and health awareness programs focusing on breast and ovarian cancer. Bears Care programs include an annual “Back to School Fair” and the “Real Bears Fans Wear Pink” campaign, both of which directly impact those in need. Since 1995 they have awarded over $18 million in grants to qualifying agencies that share its mission. back to top

Views expressed in this newsletter do not necessarily reflect the opinion of Lloyd's. While every effort has been made to ensure that the information given is accurate, no responsibility (legal or otherwise) is accepted by Lloyd's for any errors or omissions. Copyright © 2012 Association of Lloyd's Brokers