Jardine Lloyd Thompson launches specialist Insurance for UK Football

Europe’s largest headquartered insurance broker; Jardine Lloyd Thompson have targeted Football Agents with its latest Financial Risks Insurance product.

At present FIFA regulations state that Professional Indemnity Insurance for a minimum limit of EUR 75,000 must be purchased by all FIFA licensed Football Agents.

JLTs specialist product provides competitive coverage for existing and new agents that have recently passed the examinations and who must establish the insurance cover and provide all the necessary documentation within 6 months of qualifying.

The product is focused on delivering a fast, simple and effective service to obtain cover from €75,000 to €500,000 (or higher), offering easy payment terms, and letting agents see an instant indication of cover online before applying.

Jonathan Cole, Partner, Jardine Lloyd Thompson explains “Agents want a competitive, easy to understand process with a policy that delivers to FIFA expectation and keeps them compliant. We want to make this process as simple and as clear as possible.

Additions made to online program

Jimcor Agencies, an excess and surplus lines wholesaler headquartered in Montvale, N.J., expanded its Online Agency Services and Information Systems program, which it said was intended to make quoting and marketing business easier for Jimcor’s agency partners.
Jimcor’s agents can log onto the company’s Web site and download customized marketing flyers for a variety of classes. This ability “takes one step out of their already busy day, making it easier for them to write business,” according to James Mastowski, CEO of Jimcor.
The program’s addition also allows agents to print certificates of insurance, check the status of submissions and policies and view accounting statements online, according to the company.
Other products recently added online include apartments, lessors’ risk, day care centers, mercantile, boarding and rooming houses, BOPs, fitness centers, janitorial services,

AIG impact minimal on trucking insurance

The AIG bailout has shaken up Wall St. and significantly deflated financial confidence, but it will probably not have a large impact on trucking insurance, at least not in the near term, analysts said. My take is it won’t have any impact on the marketplace,” Alan Shetzer, senior vp, national transportation division, Venbrook Insurance Services, told FleetOwner. “In fact, it might even lead to more competitive rates.”

Shetzer said that there was initial concern over the financial stability of AIG. However, as soon as the government came to the rescue, signs began to point to little or no impact on customers, he said, adding that most will likely stay with AIG.

AIG named Edward M. Liddy chairman & CEO on Thursday, succeeding Robert B. Willumstad. Liddy comes to AIG from the private equity firm of Clayton, Dubilier & Rice. He previously was chairman & CEO of The Allstate Corp. from 1999 until 2006 and president & COO from 1994 to 1998.

According to Reuters, Liddy said AIG should have a list of assets it wants to sell within the next seven to 10 days and possibly beginning to sell during that time period.

Liddy added that after the assets are sold, AIG would become a smaller firm focused on its traditional strengths in property-casualty insurance and international business.

“Long term, various units of AIG will be spun off or sold off and the beat will go on,” Shetzer said. He added that the insurance company is still in business and the only potential impact will be that other companies will see an opportunity to grab an increased market share, leading to possibly lower prices for consumers as companies fight for customers.

However, Jeffrey Benzin, assistant vp of underwriting for Global Corporate Casualty, told FleetOwner that he agreed the bailout may not have much of an effect anytime soon. “I don’t see an immediate change from a marketplace perspective,” he said.

Yet Benzin speculated that there could be a long-term effect, as there may be movement away from AIG trucking in the future. He said that the first fleets to be effected would be those that are the least appealing to lenders, as AIG would sometimes insure fleets smaller companies wouldn’t touch.

Alliance Bank Offers $50 Million FDIC Insurance Coverage

Alliance Bank, a privately owned community bank with over $600 million in assets, announced today the launch of an advertising campaign to promote its multi-million dollar insurance service for Certificate of Deposit investors. This service, offered through Certificate of Deposit Account Registry Services(R), (CDARS(R)), allows individuals and businesses the security of FDIC insurance of up to $50 million, with just one banking relationship at Alliance Bank.

Currently, less than 25% of banks in Minnesota and less than 30% of banks in Wisconsin offer this service. Alliance Bank joined the network back in 2003 when CDARS was first developed. With recent news about banks failures, Alliance Bank has seen an increase in demand for this service.

"Alliance Bank joined the CDARS program when it was initially developed to fulfill a niche for some of our larger depositors," said Erick Reim, vice president. "During this current challenging financial environment, having additional FDIC coverage is comforting to large investors, such as retirees, business owners, nonprofits and public funds organizations. As an innovative community bank, we're proud to be able to offer this service."

CDARS works by using a sophisticated computer network, placing clients' funds among other FDIC insured banks. This allows customers to manage all of their funds through one portfolio at Alliance Bank. Clients benefit from the simplicity of working with just one bank, and receiving just one statement and one 1099. It also eliminates the need for private insurance or collateralization.

"In contrast to the recent news about other banks failing, Alliance Bank is financially sound and has not been involved with the sub-prime mortgage business or other risky investments," stated V. Philip Reim, chief executive officer. "Given the recent news, however, even the most experienced investors may begin to evaluate options for spreading their money to more than one financial institution to ensure safety. Through the CDARS program, clients have the convenience that comes with a single banking relationship, and the security of FDIC insurance coverage for up to $50 million."