Global Intermediaries http://www.globalre-int.com Public Entity Wholesale Insurance Mon, 26 Jul 2010 18:11:48 +0000 http://wordpress.org/?v=2.9.2 en hourly 1 A.M. Best Comments on NYMAGIC, INC.’s Proposed Acquisition by ProSight Specialty Insurance Holdings, Inc. http://www.globalre-int.com/blog/a-m-best-comments-on-nymagic-inc-s-proposed-acquisition-by-prosight-specialty-insurance-holdings-inc/ http://www.globalre-int.com/blog/a-m-best-comments-on-nymagic-inc-s-proposed-acquisition-by-prosight-specialty-insurance-holdings-inc/#comments Mon, 26 Jul 2010 18:11:48 +0000 GIE http://www.globalre-int.com/?p=960 OLDWICK, N.J., Jul 15, 2010 (BUSINESS WIRE) — A.M. Best Co. has commented that the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of New York Marine Group (NY Marine) and its members and the ICR of ‘”bbb’” of its ultimate holding company, NYMAGIC, INC. (NYMAGIC) (NYM 25.33, +4.48, +21.49%) , are unchanged following the announcement of NYMAGIC’s proposed acquisition by ProSight Specialty Insurance Holdings, Inc. (ProSight Specialty Insurance). The members of NY Marine include New York Marine And General Insurance Company and Gotham Insurance Company.

In addition, A.M. Best has commented that the FSR of A- (Excellent) and ICR of “a-” of NY Marine’s affiliate, Southwest Marine And General Insurance Company (Southwest Marine) (Phoenix, AZ), and the debt rating of “bbb” on $100 million 6.5% senior unsecured bonds due March 2014 of NYMAGIC are all unchanged. The outlook for all ratings is stable. All companies are domiciled in New York, NY, unless otherwise specified.

Pursuant to a definitive agreement entered into with ProSight Specialty Insurance, NYMAGIC will be merged with PSI Merger Sub Inc., a wholly owned subsidiary of ProSight Specialty Insurance formed for purposes of the transaction. NYMAGIC will survive the merger as a wholly owned subsidiary of ProSight Specialty Insurance.

Continue Reading The Full Article Here


]]> http://www.globalre-int.com/blog/a-m-best-comments-on-nymagic-inc-s-proposed-acquisition-by-prosight-specialty-insurance-holdings-inc/feed/ 0 Public Transit Liability http://www.globalre-int.com/blog/public-transit-liability/ http://www.globalre-int.com/blog/public-transit-liability/#comments Tue, 06 Jul 2010 17:13:43 +0000 GIE http://www.globalre-int.com/?p=939 More Liability Options For US Public Transit

The US insurance market for public transit is finally opening up and offering more good choices from A 15 US domiciled carriers, even for accounts with light rail! After 9/11, the market shrank substantially for all insured’s, including public transit authorities.  Due to catastrophe potential and high limit needs, the market place for these unique public entities has been slow to recover.  The long sustained profitability for insurance carriers and the resulting soft market we see today, coupled with onshore movement of the Bermuda and London based carriers has expanded US offerings in both the lead SIR options and the capacity.  With the additional options, there is competition in this segment and clients are seeing options with more coverage at lower prices! You and your public entity transit client have a choice! You can now access US domiciled or multiple carriers, instead of going overseas or being locked into one carrier for your liability coverage. The US markets are strong and ready to compete for this once difficult business.

Global Intermediaries has the specialized brokerage force to bring cutting edge insurance solutions and competition to the public transportation marketplace.


Give us a call today to discuss the possibilities for your public transit risk.

541-344-5411

 


]]> http://www.globalre-int.com/blog/public-transit-liability/feed/ 0 GIE PRIMA Edition – Fun Run/Walk Photos http://www.globalre-int.com/newsletter/prima/ http://www.globalre-int.com/newsletter/prima/#comments Tue, 06 Jul 2010 17:04:49 +0000 GIE http://www.globalre-int.com/?p=936


GI Logo - T5.jpg

Public Entity Wholesale Insurance

Visit www.globalre-int.com

PRIMA Edition
Fun RunWalk Banner.jpg
2010 5K PRIMA Fun/Walk
The 2010 5K PRIMA Fun Run/Walk Was A
 
Success!
 
 

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

Public Transit Liability

LightRail.jpgMore Liability Options For US Public Transit 


The US insurance market for public transit is finally opening up and offering more good choices from A 15 US domiciled carriers, even for accounts with light rail! After 9/11, the market shrank substantially for all insured’s, including public transit authorities.  Due to catastrophe potential and high limit needs, the market place for these unique public entities has been slow to recover.  The long sustained profitability for insurance carriers and the resulting soft market we see today, coupled with onshore movement of the Bermuda and London based carriers has expanded US offerings in both the lead SIR options and the capacity.  With the additional options, there is competition in this segment and clients are seeing options with more coverage at lower prices! You and your public entity transit client have a choice! You can now access US domiciled or multiple carriers, instead of going overseas or being locked into one carrier for your liability coverage. The US markets are strong and ready to compete for this once difficult business.  

Global Intermediaries has the specialized brokerage force to bring cutting edge insurance solutions and competition to the public transportation marketplace. 
 
Give us a call today to discuss the possibilities for your public transit risk.

541-344-5411

 
   

PRIMA Prize Winner

Congratulations
Al Alvarez
 Winner of a Brand New
iPod Nano!
 
Al Alvarez.jpg

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!

PRIMA 2010

Thank You!

Global Intermediaries would like to thank everyone who attended National PRIMA this year and a special thanks to those who stopped by our booth!

Congratulations to the winners of our running/exercise shirts, remember to wear them to next year’s Fun Run/Walk. We hope everyone has a great year and we’ll see you in Portland, Oregon for PRIMA 2011!

Sincerely,

 Global Intermediaries

Lines of Coverage
 Excess Liability
 Excess Workers Comp
Property Programs
 Med/Mal
Contact Us

Nate Simmons
Marketing Manager

Phone: 541-344-5411

E-Mail: Nate@globalre-int.com

Global Intermediaries of Eugene
411 E. 3rd, Suite 300
P.O. Box 7035
Eugene, OR 97401

 


]]> http://www.globalre-int.com/newsletter/prima/feed/ 0 June Newsletter – PRIMA 2010 http://www.globalre-int.com/newsletter/june/ http://www.globalre-int.com/newsletter/june/#comments Fri, 11 Jun 2010 18:43:11 +0000 GIE http://www.globalre-int.com/?p=748


GI Logo - T5.jpg

Public Entity Wholesale Insurance

Visit www.globalre-int.com

June Newsletter
Fun Run Banner Mod.jpg
PRIMA 2010 Fun Run/Walk

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

Featured Product

NYMAGIC Excess WC

Global Intermediaries has seen the expert Underwriters at Midlands Management, the MGA for New York Marine & General Insurance Company’s (NYMAGIC) nationwide Excess Workers’ Compensation program, increase their focus on large public entities around America. What this means for you, the public entity or the public entity broker, is another great choice in carriers! 

NYMAGIC performs great on accounts over $100,000 in policy premium and really shines on large accounts where you need an Underwriter to listen to you.  From large single self insureds, to JPA’s, to larger pools, the seasoned Underwriting staff at NYMAGIC has the expertise to understand your risk and offer creative solutions.  If you do not yet have a quote on your Excess Workers’ Compensation account from NYMAGIC, don’t hesitate, contact GIE today to see just how good they are!  

Click Here or
Contact GIE For More Infomation!

541-344-5411

   

PRIMA 2010

 
Come Visit Our Booth! 

Enter to Win an iPod Nano!

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!

GIE’s New Website!

 Visit GIE’s New Website

With all of the new features, working and keeping up with GIE will now be easier than ever!

Best of all, Globalre-int.com is powered by 100% Wind Energy. 

Lines of Coverage
 Excess Liability
 Excess Workers Comp
Property Programs
 Med/Mal
Contact Us

Nate Simmons
Marketing Manager

Phone: 541-344-5411

E-Mail: Nate@globalre-int.com

Global Intermediaries of Eugene
411 E. 3rd, Suite 300
P.O. Box 7035
Eugene, OR 97401

 


]]> http://www.globalre-int.com/newsletter/june/feed/ 0 May Newsletter – PRIMA 2010 Fun Run/Walk http://www.globalre-int.com/newsletter/may/ http://www.globalre-int.com/newsletter/may/#comments Fri, 11 Jun 2010 18:38:53 +0000 GIE http://www.globalre-int.com/?p=745


GI Logo - T5.jpg

Public Entity Wholesale Insurance

Visit www.globalre-int.com

May Newsletter
Fun Run Banner.jpg
PRIMA 2010 Fun Run/Walk

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

Do You Need A Buffer Layer?

Did your SIR
go up and you didn’t want it to?

Try a Buffer Layer Approach.

Last year, public entities across America saw an increase in their SIR’s and many don’t have the loss reserves to support the higher SIR. This leaves these public entities extremely vulnerable in a large loss situation. Should a large loss scenario occur, the risk manager would have to figure out how to externally fund the higher SIR, either with higher taxes or by floating a bond…Not exactly what a risk manager is excited to face with all the other challenges of today.

To counteract this higher SIR move by the standard public entity companies, we are seeing the emergence of a specialty market that offers "Buffer Layers". These buffer layers allow the client to keep the same lower SIR they prefer and are funded for.

Here’s your typical Buffer Layer scenario: 2008 SIR set at $2mil, 2009 renewal offered at a $4mil with some sort of discount. The client isn’t funded for the $4mil SIR, so we provide a $2mil X/S $2mil buffer layer. These buffer layers do cost money, but they have a decent payback period ofless than 10 years in most cases. Usually, the client uses the discount from the insurance placement, and other available resources to purchase the buffer layer.

The emerging companies providing the $1mil or $2mil layers are specialized and use a more primary loss pick rating system approach. These buffer layers resemble insurance that you’re more likely to use than the excess insurance of today, which companies are betting you don’t use…With the use of buffer layers, it is really a win / win situation. You get the SIR you financially need at a price you can handle and avoid the funding issue during a large claim which could lead to oversight of your department decision making powers.

GIE has been a specialized force in the public entity world for nearly 20 years and always stays top of emerging trends in the insurance world. Call us today to learn more about the use of this emerging "Buffer Layer" technique!

541-344-5411

   

GIE Photo Contest

Win a Special Edition Photo Contest Shirt!

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.

GIE’s New Website!

 Visit GIE’s New Website

With all of the new features, working and keeping up with GIE will now be easier than ever!

Best of all, Globalre-int.com is powered by 100% Wind Energy. 

Lines of Coverage
 Excess Liability
 Excess Workers Comp
Property Programs
 Med/Mal
Contact Us

Nate Simmons
Marketing Manager

Phone: 541-344-5411

E-Mail: Nate@globalre-int.com

Global Intermediaries of Eugene
411 E. 3rd, Suite 300
P.O. Box 7035
Eugene, OR 97401

 


]]> http://www.globalre-int.com/newsletter/may/feed/ 0 Section 287g Insurance Program http://www.globalre-int.com/blog/section-287g-insurance-program/ http://www.globalre-int.com/blog/section-287g-insurance-program/#comments Mon, 05 Apr 2010 18:44:24 +0000 GIE http://www.globalre-int.com/?p=692 Have a jail and looking for extra revenue? Read this article!

Public Entities across the country are signing contracts that allow the federal government to use the empty beds in their jails. This program allows public entities to bring in extra revenue, but at the same time introduces new risk. In reponse, GIE has designed a program specifically for Section 287g contracts and the liability associated with these programs. The program is designed for entities that either want to segregate their claims for ICE, or would like to buy down their SIR for the ICE program.

Here are the program basics.

Coverage provided:

  • A13 carrier
  • Non – admitted policy
  • Attachments down to $50k
  • Limits up to $5mil
  • GL for the jail portion used
  • Police professional for the jailors
  • Coverage for any law enforcement related auto accident
  • Coverage for the nursing staff at the Jail

Items needed to quote:

  • Police professional application
  • Full loss runs for the jail for the last 6 years
  • Number of inmates, jailors, autos and nurses specific to just the 287g program.

Our program is a great way to limit your exposure while bringing in extra revenue!

Get Started On Applying! Call Us Today!
541-344-5411


For more online resources visit the links below.

]]> http://www.globalre-int.com/blog/section-287g-insurance-program/feed/ 0 GIE March/April Newsletter http://www.globalre-int.com/newsletter/march-april/ http://www.globalre-int.com/newsletter/march-april/#comments Mon, 05 Apr 2010 18:38:24 +0000 GIE http://www.globalre-int.com/?p=683

GI Logo - T5.jpg

Public Entity Wholesale Insurance

Visit www.globalre-int.com
March/April Newsletter
GIE Photo Contest
Check Out GIE’s New Website!
GIE is pleased to announce the launch of its
New Website!


Working and keeping up with GIE will now be easier than ever!
Here are just some of the new features:

  • Dedicated Application and Resources Page
  • Custom Fillable PDF Forms
  • Access to GIE Newsletters, Articles, Blogs, and Photos
  • Events Page – Know what conferences GIE is attending
  • Detailed Information on Products and Coverages
  • Featured Programs, Contests, and More!
Best of all, GIE’s website is powered by 100% Wind Energy!
Visit www.Globalre-int.com Today!

Section 287g Insurance Program

Have a jail and looking for extra revenue? Read this article!

Public Entities across the country are signing contracts that allow the federal government to use the empty beds in their jails. This program allows public entities to bring in extra revenue, but at the same time introduces new risk. In reponse, GIE has designed a program specifically for Section 287g contracts and the liability associated with these programs. The program is designed for entities that either want to segregate their claims for ICE, or would like to buy down their SIR for the ICE program.

Here are the program basics.

Coverage provided:

  • A13 carrier
  • Non – admitted policy
  • Attachments down to $50k
  • Limits up to $5mil
  • GL for the jail portion used
  • Police professional for the jailors
  • Coverage for any law enforcement related auto accident
  • Coverage for the nursing staff at the Jail

Items needed to quote:

  • Police professional application
  • Full loss runs for the jail for the last 6 years
  • Number of inmates, jailors, autos and nurses specific to just the 287g program.

Our program is a great way to limit your exposure while bringing in extra revenue!

Get Started On Applying! Call Us Today!
541-344-5411


For more online resources visit the links below.


GIE Photo Contest
Win a Special Edition Photo Contest Shirt!

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
PRIMA 2010
FunRun2010.jpg

GIE is doing it again! Get ready for the 2010 PRIMA Fun Run/Walk. The event is designed to be a fun, organized, morning stroll with your Risk Management friends.

Click Here For More Info
Lines of Coverage
Excess Liability
Excess Workers Comp
Property Programs
Med/Mal
Contact Us

Nate Simmons
Marketing Manager

Phone: 541-344-5411

E-Mail: Nate@globalre-int.com

Global Intermediaries of Eugene
411 East 3rd. Suite 300
P.O. Box 7035
Eugene, OR 97401

]]> http://www.globalre-int.com/newsletter/march-april/feed/ 0 NYMAGIC Excess Workers Comp http://www.globalre-int.com/blog/nymagic-excess-workers-comp/ http://www.globalre-int.com/blog/nymagic-excess-workers-comp/#comments Fri, 05 Mar 2010 19:35:45 +0000 GIE http://globalre-int.com/?p=552 Global Intermediaries has seen the expert Underwriters at Midlands Management, the MGA for New York Marine & General Insurance Company’s (NYMAGIC) nationwide Excess Workers’ Compensation program, increase their focus on large public entities around America. What this means for you, the public entity or the public entity broker, is another great choice in carriers!

NYMAGIC performs great on accounts over $100,000 in policy premium and really shines on large accounts where you need an Underwriter to listen to you.  From large single self insureds, to JPA’s, to larger pools, the seasoned Underwriting staff at Midlands Management has the expertise to understand your risk and offer creative solutions.  If you do not yet have a quote on your Excess Workers’ Compensation account from Midlands Management on behalf of NYMAGIC, don’t hesitate, contact GIE today to see just how good they are!

Contact GIE Today – 541-344-5411

Judd@globalre-int.com

NYMAGIC Excess Workers Comp Details


]]> http://www.globalre-int.com/blog/nymagic-excess-workers-comp/feed/ 0 GIE PARMA Edition – Thank You http://www.globalre-int.com/newsletter/parma/ http://www.globalre-int.com/newsletter/parma/#comments Thu, 04 Mar 2010 21:23:43 +0000 GIE http://globalre-int.com/?p=542


GI Logo - T5.jpg

Public Entity Wholesale Insurance

Visit www.globalre-int.com
PARMA Edition
PARMA Banner.jpg
Featured Product

NYMAGIC Excess WC

Global Intermediaries has seen the expert Underwriters at Midlands Management, the MGA for New York Marine & General Insurance Company’s (NYMAGIC) nationwide Excess Workers’ Compensation program, increase their focus on large public entities around America. What this means for you, the public entity or the public entity broker, is another great choice in carriers!

NYMAGIC performs great on accounts over $100,000 in policy premium and really shines on large accounts where you need an Underwriter to listen to you. From large single self insureds, to JPA’s, to larger pools, the seasoned Underwriting staff at Midlands Management has the expertise to understand your risk and offer creative solutions. If you do not yet have a quote on your Excess Workers’ Compensation account from Midlands Management on behalf of NYMAGIC, don’t hesitate, contact GIE today to see just how good they are!

Click Here or Contact GIE For More Infomation!

541-344-5411
PARMA 2010 – Sacramento

Thank You From GIE

Wow, what a rush! PARMA is always a blast for Global Intermediaries. Great people, great food, and great times, what more could we ask for?

We’d like to thank everyone who attended PARMA this year. Despite the economic situation, there was quite a showing of people ready to learn and have a little bit of fun. A special thanks to everyone who dropped by our booth to say hello! It’s always nice to meet new faces. Congrats to those of you who won our running/exercise shirts. If you’re going to PRIMA, be sure to register for our Fun/Run Walk. Click Here For More Info
Sincerely,

Global Intermediaries
PRIMA 2010
Congrats to Joseph Mazza! Winner of a Brand New Garmin GPS!

PARMA GPS Winner1.jpg

Thanks to everyone who entered our drawing. After a few good shuffles of the cards, Joseph Mazza ended up being our winner! He’ll never be lost again with his new GPS!

PRIMA 2010
FunRun2010.jpg

GIE is doing it again! Get ready for the 2010 PRIMA Fun Run/Walk. The event is designed to be a fun, organized, morning stroll with your Risk Management friends.

Click Here For More Info
Lines of Coverage
Excess Liability
Excess Workers Comp
Property Programs
Med/Mal
Contact Us

Nate Simmons
Marketing Manager

Phone: 541-344-5411

E-Mail: Nate@globalre-int.com

Global Intermediaries of Eugene
1600 Executive Parkway, Ste 205
P.O. Box 7035
Eugene, OR 97401
]]> http://www.globalre-int.com/newsletter/parma/feed/ 0 Kayaker http://www.globalre-int.com/smooth-slider/kayaker/ http://www.globalre-int.com/smooth-slider/kayaker/#comments Fri, 26 Feb 2010 00:19:38 +0000 GIE http://globalre-int.com/?p=504 Kayaker

]]> http://www.globalre-int.com/smooth-slider/kayaker/feed/ 0