Letter from the President
As we begin 2006, I would like to take this opportunity to wish you all a prosperous and healthy New Year. I hope that all of you and your families had an enjoyable and safe holiday season. We look forward to working with each of you over the upcoming year and growing with you as partners.
By now all of you have seen quite a bit of our IUM associates over 2005. We have worked hard to increase our communication and visibility with all of you so that you may better understand our risk appetite and product line strategies. As you have heard over the past year, our strategy has not changed. We continue to be risk takers and solution providers for you and your customers in our core product line segments. We want to continue to see more of your business and always be your "first call, last look". During 2006, we will strive to diversify our book and expand our product lines. We will make sure that our Marketing Department communicates these opportunities to you as needed.
We will continue to be visible and solicit feedback from all of you. We welcome your comments and will incorporate any ideas you may have that will differentiate us from our competition. Please keep the communication lines open. Your feedback is an important contribution to our future success!
Thank you for your past support and trusting us with your business in the future.
Glen E. Curley, CPCU, ARe
President and Chief Operating Officer
Investors Underwriting Managers, Inc.
gcurley@markelcorp.com
732-450-8725
A Word From our Excess & Umbrella Division
As many of you are aware, it has been a year of transition for the Excess Division at IUM.
From a personnel standpoint, Ken Russo transited from managing the Excess & Umbrella Division to assuming responsibility for the Special Programs Division at IUM. Sarah Gavlick also transitioned from the EU Division to run the new Marketing Department at IUM. Jeff Lamb has stepped in as Interim Manager.
Despite these changes, we did gain two new additions to our underwriting staff. Ruben Delgado joined the Division after spending several years at One Beacon Insurance Company and most recently, Seneca Insurance Company. In addition, Barbara Luther joined us from Chubb where her past responsibilities included managing a Professional Lines Group in Boston, MA and also coordinating internal sales and underwriting training programs for Chubb countrywide. Ruben and Barbara join our existing underwriting staff that includes Rob Caballero, Brenda Azim, Tiffany Riggins and Joe Cardoso.
In order to more effectively and efficiently respond to your requests, we recently re-organized our division into an Underwriter to Underwriting Assistant structure. At any time, you may contact either party to answer your questions. So that you are aware, the teams are as follows: Rob Caballero with Nicki Brennan, Barbara Luther with Sharon Downey, Ruben Delgado with Diana Nepsha, Brenda Azim with Temeka Bryant, Tiffany Riggins with Emily McMullen and Joe Cardoso with Michelle Knotz. We hope you find this to be a smooth and beneficial transition.
As respects our risk appetite, we have had no significant changes over the past few months. Along with our Primary brethren, we did add Louisiana and Alaska to our list of states where we will no longer entertain Residential Construction business. Outside of that change, we continue to grow our construction book. However, we are always looking for ways to diversify our book of business. We want you to think of us for those needs falling outside the construction arena. Below are some recent accounts we quoted and/or wrote. Perhaps you never thought of us when placing the following types of risks:
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Manufacturer of Non-invasive Surgical Instruments
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Chains of Bars/Taverns
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Manufacturer of Micro-Dermabrasion Kits
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Oil and Gas Products
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Manufacturer of Anti-Flatulence Products
In addition to diversifying our portfolio over 2006, we are working to enhance and expand our producer relationships. A mutually successful relationship is the foundation for our success. You can expect to see more of us in your offices throughout the year discussing ways in which we can grow our business together.
As always, thank you for your loyalty and support. We hope that you continue to think of us for all of your Excess Casualty needs over 2006.
Ralph Lee Second Inductee to Markel's Underwriting Hall of Fame!
Investors Underwriting Managers, Inc. hosted a Retirement Party for Ralph Lee, VP and former Manager of the Property/CMP department, Wednesday evening, December 14, 2005 at Buona Sera Tuscan Lounge in Red Bank, NJ.
It was a bittersweet evening as family, friends and business associates gathered to honor Ralph and wish him a happy, healthy retirement. The festivities included heartfelt and humorous tributes to Ralph's underwriting expertise and career achievements, his candor, sense of humor and the invaluable impact he's had on so many individuals in the Surplus Lines Industry.
CEO Chairman of the Board, Alan Kirshner presented Ralph with a plaque commemorating his induction into the Markel Underwriters Hall of Fame. Additional speakers included CEO Glen Curley, VP/Chief Underwriting Officer Jeff Lamb, VP/Senior Financial Officer Ray Steer and a pre-recorded telecast by Tony Markel and Paul Springman.
Property's Associate Vice President of Property Jeannette Guercio served as Master of Ceremonies while Sr. Underwriter Joseph Pomara delivered a comedic and fitting "Top Ten Things We Love About Ralph". Ralph grinned from ear-to-ear as a number of producers offered up entertaining anecdotes, roasting their lifelong friend and colleague. It was a fun-filled evening and a good time was had by all.
Property Division Announces New Staff Addition
Please join me in welcoming John Asmussen to IUM's Property Division. John joins us from the Fuller & O'Brien Agency in Albany, NY where he worked as an Account Executive for the last 6 years. Prior to that John worked at Reliance Insurance Company in NYC and Philadelphia handling both Property and Casualty business. John is a graduate of The College of Insurance.
Ed Marcinkevich - Property Manager commented, "John's 30+ years of insurance experience is a tremendous addition to our department. We hope to put this experience to good use in this challenging Property marketplace."
Welcome, John!