Same great service, Same great people,
Just a new name!

To our valued agents, clients, and underwriters:

I wanted to personally inform you that GIE has joined the Apex Insurance Services team. The synergy between our two companies and the potential to help public entities across America became too great a benefit to ignore. Being part of Apex will allow increased market power and broker access as well as strategic relationships with key markets. Geographically, we will be the Apex West Coast location, but our office will continue to serve our clients around the country. You may notice some minor changes over the next few weeks, but overall you’ll be receiving the same great GIE service from the same great people!

Thank you for your support!

-    Judd L. Feldman

For more information on Global Intermediaries and Apex Insurance, please visit our websites.

www.Globalre-Int.com www.ApexInsurance.com

Excess Liability Market Conditions – Hard or Soft? Select or Not So Select?

Depending on the account, the excess liability insurance market can feel very hard or very soft right now. I know that sounds strange, but it’s true!

Global Intermediaries just worked on a large county in the Northeast where the expiring carrier came back with a 33% increase due to loss activity. We eventually stimulated competition and brought the increase down to 17%, but it was still an increase. On the other hand, one of our recent Northwest accounts received an unsolicited quote from a newer market that didn’t even receive a submission!

The difference here is simple. Both public entities had different account profiles, specifically the loss ratios and the tort environments. It appears that the markets are gaining intelligence and cherry picking the “select”, loss free, accounts and going after them with gusto, whereas loss laden accounts are seeing increases. This new approach is a departure from our old thoughts of risk diversion and adverse selection, where markets applied the same rate to similar accounts, independent of loss ratios.

What does this mean for public entity insurance?

With the help of GIE, public entities and their brokers will need to determine if they fall into a “Select” program or a “loss laden” program. Select accounts will be largely loss free and will benefit from great coverage and a premium decrease. Loss laden accounts will have to work harder, with a more creative approach to the marketplace. No matter where your account stands, Global Intermediaries is here to help you and your agent plan the best marketing strategy; be it Select or Not So Select.

***One of the new items we’re working on is a stable rate product for Select accounts.  If you would be interested in such a product, please contact us and we’ll include your thoughts in our market approach.

Lake Ozark, MO
April 13-15, 2011

Judd Feldman and Nate Simmons will be at KS/MO PRIMA convention at Lake of the Ozarks again this year. We have been loyal sponsors of the KS/MO PRIMA convention for over 13 years, and enjoy paying a visit to our loyal clients and public entities.

What’s More Important? A Low SIR or High Policy Limits?

In today’s volatile public entity insurance marketplace I find myself regularly answering this question. Everyone jumps to “stability”, and public entities believe stability means grabbing hold of your SIR and not letting go.
 
As insurance markets start to raise the self-insured retentions of large public entities, due to loss activity or the economy, many entities fight to keep their current SIR by sacrificing higher policy limits. At the same time, lawsuits are increasing in size and number in all coverage areas (View Settlements PDF). Many public entities are maintaining lower policy limits when the threat of high dollar lawsuits is actually increasing! Now here’s the kicker… Private equity firms are now financing these high dollar lawsuits in the hopes of receiving better investment returns. (Source Article) This information, recent inflation fears, and a possible turn in the insurance market make me wonder whether we should be fighting for the low SIR or a higher limit.

So What Can You Do?

First, determine the correct SIR for your account; it’s usually above the working (or frequency) layer. Positioning the SIR allows for the most cost effective transfer of risk, enabling you to keep premiums at a minimum while still achieving your goal of protection from market swings. SIR’s should be set to handle one large claim every 5 to 6 years.  If your current SIR is above or below that level, it may need to be reset. If you don’t know if your SIR is correctly positioned, call us, we analyze SIRs and loss histories for a living.
 
Second, determine what policy limits you might need. Many public entities in states with strong tort law buy lower limits as they feel comfortable with the tort protection. However, even in tort protected states, these entities are NOT protected from the Federal Claims found in Section 1983 and the claims associated with violating those laws. These claims are mostly EPLI and law enforcement related, so be sure to weigh your exposure in those areas. Keep in mind that tort statutes have been broken across the country. If your local tort statute is broken you’ll be vulnerable to all negligence based claims and that tort protection will no longer exist.
 
Odds are that your public entity can likely absorb an additional $500k to $1 million due to an increase in the SIR, but if your limits are too low can you handle another $10 million from a lawsuit gone bad? Imagine having to pay $5-$10 million in this economy because you didn’t take the time to consider the changing marketplace and the possibility of a large claim. Ultimately, the decision is up to you, but if you’re sacrificing limits for a lower SIR, then you may need to reconsider your choice! 

Full market access – Both wholesale and retail markets.

Complete marketing capabilities – We can be your whole marketing department or just part of it.

Large volume with important public entity markets – Most companies recognize our expertise and sit with waiting ears.

Comprehensive marketing reports – A detailed list and explanation of the marketing process.

100 point coverage checklist – Side by side comparison of the top two companies for your client.

Extensive program creation knowledge – We can help design and tweak your program’s coverage.

Nationwide view – No matter where you are in the U.S., we know your area.

Large claims consultation – Our seasoned employees, with decades of claims experience, are waiting to answer your questions.

For more information on the benefits of "Adding GIE to your Marketing Team" visit our website.

Med/Mal

Do you have all of the marketing power and expertise you need?

Dear Public Entity Agent,

A wholesaler like GIE knows the hard work it takes to gain the respect of your local public entities and the skills needed to develop the necessary political connections. But, what’s next? Now you need the solid marketing experience and the partnership of a seasoned public entity wholesaler to make sure you get the best terms and conditions the world has to offer. You need to round out your markets and add that extra large dose of marketing power and expertise. This is where you add GIE to your company’s marketing team. We field over 200 public entity submissions per year from around the country and can help you either find great coverage or confirm that you already have the best. You and your clients deserve to experience the security and expertise of GIE… The specialty public entity excess wholesaler. We offer excess liability, property, and workers’ compensation programs for your self-insured or pool accounts.

These are just some of the benefits you receive when you add GIE to your public entity team.

• Full market access – Both wholesale and retail markets.
  
• Complete marketing capabilities – We can be your whole marketing department or just part of it.
  
• Large volume with important public entity markets – Most companies recognize our expertise and sit with waiting ears.
  
• Comprehensive marketing reports – A detailed list and explanation of the marketing process.
  
• 100 point coverage checklist – Side by side comparison of the top two companies for your client.
  
• Extensive program creation knowledge – We can help design and tweak your program’s coverage.
  
• Nationwide view – No matter where you are in the U.S., we know your area.
  
• Large claims consultation – Our seasoned employees, with decades of claims experience, are waiting to answer your questions.
  

Always A Good Time!

GIE always enjoys going to the annual CAJPA conference in Lake Tahoe, California. We love seeing new faces and catching up with all of our California friends. Thank you to everyone who attended, it looked like there was quite a turn out this year! We wish everyone a great rest of the year. Hopefully there’s still some good weather to be found here and there!

Colorado PRIMA 2010

GIE attended the recent Colorado PRIMA conference in beautiful Vail, CO. The event drew over 175 participants, with some very enlightening presentations and breakout sessions. It was good to see old friends and meet new ones too. We look forward to next year’s conference in Steamboat Springs!

-Bob Penny

Global Intermediaries would like to thank everyone who participated in the PRIMA Orlando 5K Fun Run/Walk. We couldn’t have done it without you! Over 75 people signed up and raised $750 for the Second Harvest Food Bank of Central Florida.

Located in the running capitol of the world, Eugene, Oregon, GIE has been part of every Fun Run/Walk held over the past 13 years. As a proud sponsor of this event, these Fun Run/Walks have helped contribute to our company’s identity and philosophy. We enjoy sponsoring an event that promotes health, physical fitness, camaraderie, and the great outdoors. Anyone can host a dinner or happy hour, but how many companies host an event that focuses on your well being? If you do business with us, run or walk in one of our events, Thank You! You have helped contribute to a better future for you and GIE.

Thank You!

Be sure to check out the event photos. Found Here

Thanks to everyone who entered our drawing. After a few good shuffles of the cards, Al Alvarez ended up being our winner! Enjoy your new iPod and rock out to those tunes!

Join GIE for

PRIMA’s 31st Annual Conference

5K Fun Run/Walk

Wednesday, June 9 at 7:00am

Back by popular demand! The PRIMA Fun Run/Walk is your chance to start your day off right, with a vigorous run or walk with your risk management colleagues. Join us on the morning of Wednesday, June 9 for this fun and healthy event! The Fun Run/Walk is sure to get you ready for the final day of the conference, and also give you more time to spend with new colleagues and friends! Registration is $10 per person and all proceeds will be donated to the Second Harvest Food Bank located in Orlando.

You can register via:

 Registration Form Found Here

OR

 Register Online via PRIMA’s Website

In order to register through PRIMA you will need to log in using your conference confirmation information. If you have any questions about this event, contact Jessica Konrath, PRIMA Member Services Manager at 703-253-1270 or jkonrath@primacentral.org

 
Come Visit Our Booth! 

This year you’ll be able to find us at Booth 416 right next to the PRIMA center stage. Come by, say hi, and win some swag! We’ll be holding our scratch off lottery for GIE Running Shirts!

 Visit GIE’s New Website

Join GIE for the

Annual PRIMA Fun Run/Walk

Wednesday, June 9 at 7:00am

Back by popular demand! The PRIMA Fun Run/Walk is your chance to start your day off right, with a vigorous run or walk with your risk management colleagues. Join us on the morning of Wednesday, June 9 for this fun and healthy event! The Fun Run/Walk is sure to get you ready for the final day of the conference, and also give you more time to spend with new colleagues and friends! Registration is $10 per person and all proceeds will be donated Manancial Food Bank in Orlando. All participants will receive a Fun Run/Walk T-Shirt!

You can register via:

 Registration Form Found Here

OR

 Register Online via PRIMA’s Website

In order to register through PRIMA you will need to log in using your conference registration information. If you have any questions you can call: Jessica Konrath, PRIMA manager of member services at 703-253-1270 or jkonrath@primacentral.org

Over the years GIE has given away thousands of shirts and we’d love to see them in action! Send us a photo of you or a friend in a GIE (or SIRPRO) shirt and vote for your favorite on our website! Winners will receive a special edition contest shirt!

Check Out The Entries!

Email Photo Submissions to Nate@globalre-int.com

Contest details can be Found
Here.

 Visit GIE’s New Website

Over the years GIE has given away thousands of shirts and we’d love to see them in action! Send us a photo of you or a friend in a GIE (or SIRPRO) shirt and vote for your favorite on our website! Winners will receive a special edition contest shirt!

Check Out The Entries!

Email Photo Submissions to Nate@globalre-int.com

Contest details – Found Here