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Link to Lloyd's Newsletter
November 2009
In this issue
Hank Watkins appointed President of Lloyd's North America
Illinois admitted forms available on the Lloyd’s Wordings Repository
Lloyd’s lends a helping hand
Social media networking opportunities with ALB
ALB Board of Directors 2010
Introducing new ALB Director Brian Dougal, Aon Risk Services
Spotlight on Madsen, Farkas & Powen LLC - New ALB Colleague Member
Transitions at Lloyd's Illinois
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Hank Watkins appointed President of Lloyd's North America
Lloyd’s announced in August that Hank Watkins has been appointed as its new President, North America. He will be based in New York.
Hank will be responsible for all Lloyd’s operations in the US and Canada, including offices in New York, Kentucky, Illinois, Los Angeles, Virgin Islands, Montreal and Toronto.
He has held a range of positions in the United States and Europe at global insurers and brokers, including Chubb & Son; Barney & Barney; Johnson & Higgins; Hilb Rogal & Hobbs; and Marsh.
Sue Langley, Director of Market Operations and North America, said:
“I am delighted that Hank is coming on board to lead our North American operations. He has over 28 years experience in the insurance industry, as both an underwriter and broker, and understands the opportunities and challenges that the industry faces in today’s global marketplace.
“His unique experience, fresh approach to the Lloyd’s market and mix of skills will be invaluable as we seek to develop our presence and brand in the US and Canada over the coming years.”
Hank Watkins, said:
“I’m excited to be joining an organisation with the rich history and global presence of Lloyd’s. The opportunity to work with experienced, enthusiastic teams on both sides of the Atlantic as we deliver the benefits of Lloyd’s Strategic Plan to our North American business partners is one I’m looking forward to."
Hank has a degree from the University of California, Berkeley. He is married with three children and lives in Connecticut.
You can see more about Lloyd's US representation online at lloyds.com
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Illinois admitted forms available on the Lloyd’s Wordings Repository
Working with the LMA and ISO, Lloyd’s Illinois has uploaded more than 600 commonly used non-proprietary admitted policy forms and clauses onto the Lloyd’s Wordings Repository. The LWR enables underwriters, wordings technicians and brokers to view and download vetted policy wordings regularly used within the London market.
These wordings supplement the Illinois admitted ISO wordings already available on the LWR. Ultimately, Lloyd’s Illinois anticipates uploading around 900 admitted wordings – all of them non-proprietary and relevant to the current market. Lloyd’s Illinois will also be introducing a special program for coverholders and MGA’s to access the LWR through Lloyd’s Illinois.
Illinois is a unique market for Lloyd’s in that business can be placed on both an admitted and a surplus lines basis. The initiative to make Illinois admitted wordings available on the LWR supports contract certainty and will improve the efficiency and accuracy of the placement process.
Admitted wordings for Kentucky and the USVI will also be available on the LWR in early 2010.
Market participants with access to the LWR are encouraged to visit the new Lloyd’s Illinois module by signing in, using Advanced Search, and selecting Lloyd’s Illinois from the Others/Lloyd’s US/Brokers module.
For those non-participating Lloyd’s underwriters or brokers interested in access to the LWR, visit lloyds.com or contact Chris Kent at ISO in London at +44 (0) 20 7680 4977 or chris.kent@iso.com
Please contact Doug Heitzman at Lloyd’s Illinois with any queries about admitted Illinois wordings on the LWR at +1 (312) 407-6211 or doug.heitzman@lloyds.com
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Lloyd’s lends a helping hand
At the end of September Lloyd’s employees in nine locations around the world volunteered nearly 800 hours of time and donated more than $10,000 to 20 different local charities and organizations during the Lloyd’s Helping Hands Week.
In London, Lloyd’s Chairman Lord Levene kicked off the proceedings by volunteering at Christchurch Primary School to help children with their reading. CEO Richard Ward and staff served lunch at the Whitechapel Mission. Others volunteered with the Tower Hamlets, the Newham City Farm, and took part in races for FARM-Africa and Cancer Research UK.
Staff in China, Frankfurt, Milan, Chatham, Canada and Kentucky also participated. Lloyd’s Illinois staff volunteered for the American Heart Association’s sponsored walk in Chicago.
Visit lloyds.com to see more about Lloyd’s Helping Hands Week.
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Social media networking opportunities with ALB
A recent article in Reuters cites a Business.com study that indicates more and more businesses are integrating social media into their business strategy and that social networking is becoming part of the normal work routine. The study suggests that current trends to restrict access to social networks like Facebook or Twitter at work need to be re-thought, in light of the business value of such activity.
There are several social media networks available for the ALB and Lloyd’s community.
ALB LinkedIn network and Lloyd’s of London LinkedIn network
LinkedIn is the world's largest professional networking site with more than 50 million users. Professionals use the site to make connections, build networks, find jobs and business opportunities, advertise, and share information.
Insurance Associates Facebook
IA uses the Facebook global networking site to keep in touch with its membership and coordinate the social networking events it sponsors for insurance professionals through the year.
Everybody agrees that relationships are an important part of the insurance business. Social media networking sites are here to stay as one more way for professionals to interact with their colleagues.
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ALB Board of Directors 2010
The ALB membership has elected four Directors for a two year term.
Lee Brodsky, JMB Insurance / Mortgage Banking Insurance Group
Brian Dougal, Aon
Greg Grodecki, Travis-Pedersen & Associates
Richard Nowell, Stateside Underwriting
The Officers for 2010 are:
Chairperson, Greg Grodecki, Travis-Pedersen & Associates
Vice Chairperson, Alex Wayne, Alexander J. Wayne & Associates
Treasurer, Tanja Maffei, Marsh USA
Secretary, Patrick Small, Wells Fargo Insurance Services
The Board meets monthly – usually at Lloyd’s Illinois – to conduct business, arrange the quarterly educational seminars, and receive updates on the Lloyd’s market. A complete list of the ALB Board of Directors and their contact information can be found here.
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Introducing new ALB Director Brian Dougal, Aon Risk Services
Brian Dougal is Assistant Director and Team Leader at Aon. He graduated Cum Laude from St. Norbert College in De Pere, WI in May 1999 with a Bachelor of Business Administration with emphasis in International Business and French. Following graduation, he began his career at Aon in Chicago in a role combining aspects of both property brokerage/marketing and global client service. After a few years, he pursued the opportunity to focus specifically on property brokerage and marketing in Aon's Property Brokerage team with responsibilities for design and marketing of global, domestic and foreign-only programs ranging in size from single carrier placements to large, complex layered programs, leading to a role as Senior Broker within the Property Brokerage team.
During his career at Aon, Brian has worked with many different classes of business including a majority in the retail, financial, manufacturing and food business sector. He has also had the opportunity to work with health services, chemical, distribution and not-for-profit clients.
“Several of my large clients have valued partnerships with Lloyd’s, and I understand the importance of their long-term relationship. We make a specific effort to have face-to-face meetings with our valued partners in Lloyd’s every year. Those meetings help to keep both our clients and our trading partners at Lloyd’s abreast of each other's business plan. It also ensures we continue the relationships we've developed over the years.”
Brian had the opportunity to spend five weeks in London in 2004 and Bermuda in 2002 on Aon’s exchange program.
“Each marketplace has its own culture and unique opportunities and it was an amazing experience to be able to see how each market functions on a daily basis. My experience in London included the opportunity to spend many days at Lloyd’s, learning from both brokers and underwriters alike how unique Lloyd’s truly is. Being there gave me a better understanding of how Lloyd’s functions and has helped me build better relationships with both our trading partners at Lloyd’s and my Aon colleagues in London.”
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Spotlight on Madsen, Farkas & Powen LLC - new ALB Colleague Member
Madsen, Farkas & Powen LLC is a firm of skilled trial lawyers offering large firm expertise and resources with small-firm attentiveness. MFP has extensive experience in handling all manner of claims, with a focus on cases involving aviation, products liability, employment practices, general casualty, subrogation and coverage. MFP has represented the interests of Lloyd’s and London Market insurers across the Midwest with great success, and has maintained a remarkable record in front of juries.
The exceptional skills of MFP’s attorneys have garnered AV ratings from Martindale-Hubbell, and recognition in Super Lawyers, the Forty Under 40, and the Litigation Counsel of America, an honorary society of accomplished trial attorneys limited to one-half of one percent of American Attorneys.
Though MFP’s attorneys have conducted hundreds of trials, they approach each new case with an eye toward early and efficient resolution, and have built a reputation for securing early dismissals or favorable settlements short of trial. With each new assignment, despite the size or complexity of the loss, MFP creates a comprehensive litigation strategy, allocates resources, identifies potential experts and obstacles, accounts for contingencies, and implements a plan designed to provide the greatest possible protection to the firm’s clients.
MFP also strives to communicate as effectively and efficiently as possible with clients and claims personnel throughout the life of a claim. This allows for a truly collaborative effort, which in turn leads not only to a favorable resolution of the case, but also to a more satisfying representation for both attorney and client.
The MFP approach has proven effective time after time. Most recently, MFP obtained an early jurisdictional dismissal for an aircraft lessor in an airline disaster case, secured a defense jury verdict in a high-exposure civil rights suit, and successfully preserved a very low settlement in a significant injury matter by relying on settlement law that MFP created in appeals of other cases.
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MFP’s demonstrated success and reputation is built on its dedicated and diligent attorneys. They include a former criminal prosecutor, a former pilot, a former entrepreneur, a former federal law clerk, and an attorney who used to practice in Russia. This diversity of experience means that MFP’s attorneys not only do high-quality and effective legal work, but are also able to easily connect with clients and juries. MFP is proud to offer this wealth of experience to its clients.
MFP is equally proud that its attorneys have given freely of their skills and talents in service to their communities and to the legal profession. Members of the firm speak regularly to bar associations and professional organizations, and are actively involved in a variety of organizations, including Insurance Associates, the Aviation Insurance Association, and the American and Illinois State Bar Associations.
One partner recently completed a term as the chair of the Chicago Bar Association’s Aviation Committee, and is currently serving as a Village Trustee. Another attorney conducted investigations for the Chicago Bar Association’s Judicial Evaluation Committee, and acts as a local Fire and Police Commissioner. And this fall, an associate received an award for her service to the Chicago Volunteer Legal Services Foundation, a pro bono organization MFP has supported for many years.
Finally, while many in the legal industry have been slow to “go green,” MFP has instituted a pilot program in an effort to transform itself into a paperless office, which has had the unexpected benefit of improving communication with overseas clients.
MFP is excited about its membership in ALB and looks forward to working with all ALB members in promoting and advancing Lloyd’s activities in Illinois.
For more information about MFP, please contact:
Michael McGrory
Madsen, Farkas & Powen, LLC
20 South Clark Street, Suite 1050, Chicago, IL 60603
(312) 379-3444
msmcgrory@vfrlitigation.com
www.vfrlitigation.com
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Transitions at Lloyd's Illinois
On August 1, 2009, Keith Wenckowski, Vice President, Finance at Lloyd’s Illinois, was married to Charlene Sicheri. The ceremony was at Millennium Park. Keith has worked for Lloyd’s in Illinois for 20 years. The couple live in the west Loop.
On September 12, 2009, Kathryn O’Hara, Compliance Analyst at Lloyd’s Illinois, was married to Aaron DuMoulin at the White Pines Golf Club in Bensenville. The couple live in Lombard, IL.
Pictured at right - Kathryn and Aaron DuMoulin
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Views expressed in this newsletter do not necessarily reflect the opinion of Lloyd's. While every effort has been made to ensure that the information given is accurate, no responsibility (legal or otherwise) is accepted by Lloyd's for any errors or omissions.
Copyright © 2009 Association of Lloyd's Brokers
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