Letter from the President
We’ve all heard that the only constant in life is change. At IUM this continues to hold true. It is exciting when that change is the result of the growth and development of an organization. Over the past few years Investors has grown and evolved substantially. As you know, we have added a reinsurance division, a marketing division, a special programs division and a surety reinsurance division. As a result of our planned expansion and growth from these opportunities, we have expanded our staff of talented professionals by 20 over the last 12 months.
We recently announced the addition of Ray Howard to the Investor’s team. Ray will provide the primary casualty division with risk management, loss control and risk selection expertise. We are excited about his outstanding credentials and experience. Please see sidebar for his contact information.
Included within this newsletter is the announcement of another exciting addition to the Investors team. Robert Blazer has joined Investors as our Chief Administrative Officer. Robert has been with the Markel family for a number of years and brings a wealth of experience working with the Claims, Legal, Finance and Information Technology divisions. Robert will provide us with the opportunity to strengthen our operational areas and allow me to intensify my focus on Investors' underwriting and marketing efforts.
Many of these changes and enhancements are the result of your input and support. I sincerely appreciate your feedback in this regard and ask for your help to continue to provide all of us at IUM with your insight and feedback as we strive to earn your “first call and last look." We have added a link to the bottom of this letter for your feedback and suggestions. Please take advantage of the opportunity to share your insights into how we can grow our business profitably together.
Thank you for your partnerships and for trusting us with your business.
Investors Underwriting Managers Announces Arrival of Robert Blazer as VP and Chief Administrative Officer
Investors Underwriting Managers, Inc. is pleased to announce that effective June 1, 2006, Robert W. Blazer III will be joining the company in the newly created position of vice president and chief administrative officer. In his new role, Mr. Blazer will assume responsibility for all administrative functions to include the Claims, Finance, IT and Reinsurance divisions at Investors.
Mr. Blazer comes from the Markel West office in Los Angeles, where he has been responsible for the finance and accounting functions since 1999. Prior to that he served as vice president of Finance for Associated International Insurance Company.
During his career at Markel, Mr. Blazer has worked closely with the Claims, Legal, Accounting and IT departments. He has held key roles on many special projects including the successful implementation of a new reinsurance accounting system at Investors.
Glen Curley, President and COO, commented, “Investors is excited to have Robert join our existing management team. His experience and leadership will prove to be valuable resources for our organization.”
IUM and Wind
Wind has had an enormous impact on insurance markets recently and like all carriers we are reassessing our appetite for wind along with the tools we utilize in managing our underwriting. Forecasts indicate that wind will continue to have a significant impact on underwriting results.
Fortunately, wind coverage has not historically been a substantial portion of Investors’ portfolio. This was by design and we are pleased that we managed this exposure well. As our parent company, Markel has allocated us specific capacity for wind. We have serval geographic areas where we can potentially entertain business based on acceptable terms and conditions. We, however, have had to non-renew some accounts and we appreciate your understanding and patience through this process.
Investors currently has adequate wind capacity to accomplish our business plans. This capacity is best applied to multi-state accounts that have ancillary coastal exposures. In addition, we continue to write a variety of non-wind risks across the country and will be glad to offer the same underwriting expertise and service as always.
We will communicate more detail about our wind position in the near future. In the meantime, please call your property underwriter or click on the link below to send us a question or comment, and thank you for your business.