Press Releases

April 21, 2015
USI Insurance Services Named Agency of the Year at NetVU15 
Honored for Blazing New Trails in Innovative Technology in the Insurance Industry

VALHALLA, N.Y., April 21, 2015 - USI Insurance Services ("USI") announced that it was named the Vertafore "Agency of the Year" during NetVU15, the largest technology conference in insurance, held March 26-28, 2015, in Indianapolis, Indiana. The awards are special recognition to customers and partners who display leadership and vision in the industry. USI received this award at a special invitation-only gala in conjunction with an awards ceremony that was presented during the NetVU15 users conference.

USI's project management and implementation teams are "outstanding" according to multiple nominations by Vertafore employees. Mark Sonders, senior vice president of sales and marketing at Vertafore, said: "Stew and his team at USI leveraged a technology platform to act and perform like a technology company. They are blazing new trails to the future. USI is an industry leader, and we're proud they use Vertafore software to build their businesses and communities."

USI has seen massive savings of personnel time, increases in efficiencies, and a significant reduction in E&O exposure due to the leveraging of this technology. One example of this innovation is eDelivery. This was developed over two years ago using Sagitta & WorkSmart, to directly ingest all documents from their top carriers, and route into a workflow without any human intervention. This has led to the elimination of all mail from these carriers, resulting in faster receipt of information, faster servicing time, faster audits, and millions of dollars in savings. The carriers have also seen their costs drop by 73 percent by using this.

Stewart Gibson, USI's senior vice president and chief information officer, said, "We are extremely honored to be named Agency of the Year at this year's NetVU conference. Being selected is an extraordinary testament to our partnership with Vertafore and to USI's commitment to enhancing our technological resources through innovation and investment."

About USI Insurance Services
With more than 4,400 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, USI is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker1, the 4th largest privately held commercial lines broker in the United States2, and the 13th largest insurance brokerage firm in the world3, . USI is also the 3rd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 the last three years and Best's Review January 2014 Innovation Showcase. Additional information about USI may be found at www.usi.biz.

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1 Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines (excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014

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April 6, 2015
USI Insurance Services Launches Builder’s Risk Program to Address Ongoing Pricing and Deductible Inconsistencies Impacting Middle Market Owners and Contractors 
 

Solution Includes No Minimum Damage Level to Respond, Acts of Terrorism Not Certified by Federal Government and Events Carried Out by Foreign National or U.S. Citizen

VALHALLA, N.Y., April 6, 2015 - To address ongoing inconsistencies in pricing, deductibles and terms and conditions offered to middle market owners and contractors, USI Insurance Services (“USI”) has launched a Builder’s Risk Program that provides broader coverage for all project types and sizes, and establishes stable capacity for frame and renovation projects, including catastrophic perils.

This competitively-priced program is a better alternative for owners and contractors who rely on their own property program, which typically has limited capacity and control over claims related to construction activities. Underwritten by Allianz and ACE Group, the USI Builder’s Risk Program can lower premiums by eliminating budget markups and empowers the client with the ability to negotiate the appropriate terms and conditions to meet contractual and lender compliance. In addition, the program accelerates the response time during the bidding process and reduces costs on the value of the project through an expedited claim recovery process.

Robert Meyers, USI’s senior vice president of property & casualty, said: “Middle market clients frequently rely on standard builder’s risk coverages when developing a new property or renovating an existing location. This is their path of least resistance, however, inadequate coverage terms and property transfer problems at completion often create unforeseen costs and delays. At USI, we have developed a custom-built program that creates market competition and enables the negotiation of extensive coverage that better matches our client’s project exposures.”

Email John.Campbell@usi.biz for more information on this program.

About USI Insurance Services
With more than 4,200 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, USI is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker1, the 4th largest privately held commercial lines broker in the United States2, and the 13th largest insurance brokerage firm in the world. USI is also the 2nd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 the last three years and Best's Review January 2014 Innovation Showcase. Additional information about USI may be found at www.usi.biz.

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1 Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines (excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014

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January 12, 2015
USI’'s Standalone Terrorism Facility Solution
Better Option to Newly Authorized Government-Backed TRIA Program 
 

Solution Includes No Minimum Damage Level to Respond, Acts of Terrorism Not Certified by Federal Government and Events Carried Out by Foreign National or U.S. Citizen

VALHALLA, N.Y., January 12, 2015 - In the wake of the U.S. Senate passing the Terrorism Risk Insurance Program (TRIA), USI Insurance Services ("USI") announced its Terrorism Facility Solution remains a viable alternative. Unlike the TRIA program, the USI solution is not limited to acts of terrorism certified by the federal government and responds to terrorism events regardless if caused by a foreign national or U.S. citizen. And, whereas the government program will not respond to a terrorism event unless it exceeds $200 million in damage, there is no minimum level for this coverage to respond.

Underwritten by Lloyd's of London, this alternative solution is competitive and available worldwide. Furthermore, it comes with low and flexible deductibles, and is priced individually rather than as a percentage of all-risk premium. To summarize, key features of the program include:

  • a limit of up to a maximum of $200 million;
  • the broadest definition of terrorism available, including coverage for political, religious and ideological-motivated attacks;
  • flexible markets on deductible options, and in some cases offer terms with zero deductible;
  • coverage of terrorism acts not certified by U.S. government;
  • response to events carried out by both U.S. citizens and foreign nationals; and
  • coverage is provided by Lloyds' leading terrorism insurers

Email TRIA@usi.affinity.com for more information on this program.

About USI Insurance Services
With more than 4,200 dedicated, experienced and innovative professionals connected across over 140 offices throughout the United States, USI is a leader in insurance brokerage and consulting in property-casualty, employee benefits, personal risk services, retirement, program and specialty solutions. With approximately $1.0 billion in annualized revenue, USI is the 3rd largest privately held insurance broker1, the 4th largest privately held commercial lines broker in the United States2, and the 13th largest insurance brokerage firm in the world. USI is also the 2nd largest privately held personal lines broker in the United States2 and the 7th largest benefits broker ranked by global benefits revenue4. USI has been recognized for its innovation by Information Week 500 the last three years and Best's Review January 2014 Innovation Showcase. Additional information about USI may be found at www.usi.biz.

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1 Business Insurance Largest Privately Owned Brokers, July 21, 2014
2 Insurance Journal’s 2013 Top 50 Privately Held Personal Lines (excludes non standard auto brokers-aggregators) and Insurance Journal’s 2014 Privately Held Commercial Lines Leader Ranking
3 Best's Review's Leader Issue July 2014, Top Global Insurance Brokers Ranking
4 Business Insurance Largest Benefits Brokers, July 21, 2014

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