August 12, 2023 – As we advance into the second half of the year, the property insurance market remains challenging. Rates are increasing across the board – it is typical to see 10-20% increase for non-CAT exposed risks, while those that are located in CAT-prone areas, or which have suffered losses are seeing more than 25% rate increases.
Insurance companies remain focused on adequate valuations, seeking year-over-year improvements that are aligned with inflation to offer appropriate replacement cost coverage. When valuations remain stagnant, insurance companies may place coverage restrictions on the account, including actual cash value or coinsurance provisions.
From a capacity standpoint, insurance companies are restricting capacity on individual risks, which is resulting in accounts needing to be written within shared and layered placements. This is especially prevalent in high CAT areas.
Many carriers are re-underwriting their risk portfolios away from more hazardous occupancies and pushing more placements into the non-admitted space.
Additionally, several carriers have restricted EQ capacity. In high-risk areas such as California, the Pacific Northwest and New Madrid, EQ coverage rates are increasing significantly and require multiple carriers to participate and purchase expiring limits.
We are also seeing trends where many insureds are purchasing lower limits than in previous years because the rates are so high, and the cost associated with lower layers. There may also not be enough capacity in the marketplace to complete those program placements.
Given the ongoing complexities within the property market, RB Jones Property is continuing to assist clients in navigating these challenges. The company has exclusive and dedicated capacity that is not available anywhere in the market. Importantly, RB Jones is also consistently recognized for its creativity in delivering unique underwriting solutions.
August 8, 2023 – The marine insurance market today continues to operate among growing risk complexities and opportunities.
Those opportunities can range from the traditional marine risks to the innovative offshore wind projects currently being built around the country. In November 2021, the Bipartisan Infrastructure Deal secured funding to upgrade the country’s infrastructure as well as invest in green energy resources. As a result, marine contractors have benefited greatly. Among the numerous examples are a $12.6 million grant to add a berth at Port Tampa Bay and nearly $4 billion in funding for the U.S. Army Corps of Engineers to make navigation improvements at coastal ports and inland waters.
Many marine operators are also stepping into the offshore wind arena, from building terminals to address the specific needs of this developing industry, to performing maintenance on the operating wind farms to building vessels that fulfill the needs of operating the wind farms.
The complexity of these opportunities comes into play for many marine contractors nearly overwhelmed with work while still facing a labor shortage. Hiring practices need to be enhanced as well as the increased need to find qualified employees. And with increased prices in nearly every sector, should a claim occur, increased prices of steel and other goods have caused premiums to increase too. The new offshore wind projects bring exposures that are relatively new and yet somehow old, with many contractors often relying on European counterparts that have experience from wind farms built in the North Sea.
The environment requires an expert approach to navigate these issues. Tracy Markowski, Director of the Marine Hull & Liability at RB Jones, has built an underwriting strategy to guide insurance agents while delivering results on which carrier partners have come to rely.
June 27, 2023 –Today’s construction industry is faced with numerous challenges given ongoing supply chain issues, inflationary concerns and labor shortages. The result is a complex environment where contractors are often taking on additional responsibilities and facing new risk exposures that traditional policies exclude.
The RB Jones Professional team developed and launched ProConstruct, an exclusive program providing Professional Liability coverage to a broad range of professionals within the construction lifecycle, filling coverage gaps often excluded by General Liability and Professional Liability policies.
The ProConstruct policy includes updated language to address a number of emerging issues:
Increased legal liability for contractors for negligence resulting from the management of a project, including managerial oversight, constructability reviews, subcontractor selection and scheduling. ProConstruct includes language specific to managerial oversight, subcontractor selection and constructability review, adding to the definition of professional services while removing the licensing requirement. Broader language enables ProConstruct to address coverage gaps because these services are typically excluded within the general liability policy and were not previously considered part of a contactor’s responsibilities.
Greater use of and integration with technology across construction projects, from design and installation of “smart” HVAC systems to robust data centers, has resulted in expanded policy language to include coverage for technology services and products, as well as network security as part of a contractor’s professional services.
Need to preserve the relationship between the contractor and the project owner requires language that provides for rectification expense coverage and protection for claims that allege faulty workmanship from negligent managerial oversight. Both coverages are vital for the contractor as it ultimately keeps projects on time and avoids cost overruns, which are two of the most common causes of loss.
Growth in use of less-experienced subcontractors due to labor shortages and inflationary pressures has led to project delays, extended project delivery times and worker safety concerns. A contractor protective indemnity clause provides dedicated excess limits over subcontractor policies. This helps prevent “claim creep” from uncovered claims eroding the contractor’s professional liability limits. A protective also forces quicker settlements from subcontracted staff and ensures projects remain on track.
At RB Jones, our team is committed to providing best-in-class, industry-leading solutions leveraging deep underwriting expertise and long-standing carrier relationships.
NEW YORK (February 23, 2023) – RB Jones, a leading Managing General Underwriter providing specialty risk coverage solutions for brokers, agents and wholesalers, today announced it had secured additional capacity from Atain Insurance Companies, an “A” rated (Excellent IX by AM Best) insurance carrier. The additional capacity enables RB Jones to expand its Primary Marine and Excess Marine & Energy Liability business.
“Today’s insurance marketplace conditions remain challenging with capacity constraints particularly in the marine and energy sector – this expanded capacity signals our intention to grow this sector of our business,” said Mark Engel, Managing Director. RB Jones Marine & Energy. “Our team is equipped with the expertise to provide the highly specialized solutions our clients require and now we have the added resources to match increased demand.”
Currently, RB Jones works closely with Atain on an exclusive Ocean Marine Cargo program. Collaboration between the two companies will result in the continued development of new products and coverage solutions.
“Atain’s relationship with RB Jones is built on trust and consistently strong results,” said Chris Zoidis, President & CEO, Atain Insurance Companies. “We appreciate the sophisticated underwriting capabilities that RB Jones has developed and believe they have the right team in place to manage the increased Marine & Energy risk complexities that we continue to see in the marketplace.”
RB Jones is coming off a strong 2022, delivering 40 percent growth in a single year. That success can be attributed to a number of areas, including:
Launching New Solar and Ocean Cargo Programs: RB Jones Marine & Energy introduced an exclusive Solar underwriting facility and acquired an Ocean Cargo solution that uses sensor data collection and advanced analytics to provide better pricing and enhanced coverage.
Global Excess Partners, an H.W. Kaufman Group company, was rebranded as RB Jones Property to create a more streamlined offering that delivers industry-leading products and services for Large Property and Middle Market accounts.
RB Jones Professional launched with its flagship product ProConstruct, an exclusive program that provides Professional Liability coverage to a broad range of professionals within the construction lifecycle.
About RB Jones
Founded in 1905, RB Jones is a leading Managing General Underwriter providing specialty risk coverage solutions to brokers, agents, and wholesalers, including: Commercial Marine, Excess Energy, Commercial Property, Large Property Schedules, Middle Market Property, Flood, Professional Liability, Specialty General Liability, Commercial Umbrella/Excess Liability, and other unique products. More information can be found at www.rbjonesinsurance.com.
RB Jones is a member of H.W. Kaufman Group, which has over 60 offices across the United States, Canada, Europe, and South America and employs more than 2,000 professionals. More information can be found at www.hwkaufman.com.
About Atain Insurance Companies
Atain is an admitted and non-admitted property and casualty insurance company dedicated to serving niche programs and excess & surplus (E&S) markets. Licensed in 50 states, Atain underwrites numerous lines of business including professional liability, general liability and commercial multi-peril risks. A.M. Best affirmed Atain with an “A” (Excellent) Financial Strength Rating.
Atain is a member of H.W. Kaufman Group, which has over 60 offices
Farmington Hills, Mich. (November 8, 2022) – RB Jones, a leading Managing General Underwriter in specialty risk coverage solutions for brokers, agents and wholesalers, today announced the launch of its new professional liability division, RB Jones Professional.
RB Jones Professional will be led by Michael Muglia, who previously served as Burns & Wilcox National Underwriting Director, Professional Liability. In addition to Muglia, Tameka Livatino, Amber Browning, and Jonathan Lucken have also joined RB Jones. With the new title of Director, Muglia now reports to Mark Engel, Managing Director, RB Jones.
The team will immediately launch several programs including their flagship product ProConstruct, an exclusive program that provides professional liability coverage to a broad range of professionals within the construction lifecycle. Further expansion of professional products is planned for the coming months.
“We expect these programs to thrive by pairing Mike’s team of experienced underwriting specialists with the sophisticated underwriting systems currently in place at RB Jones,” said Engel. “Additionally, RB Jones distribution allows access to a wide range of business and will continue our track record of producing strong underwriting profit and long-term program success for brokers and clients.”
“We remain bullish on the opportunity for RB Jones to serve as a distinct destination for highly specialized capabilities and operate as a major growth driver for H.W. Kaufman Group,” said Jodie Kaufman Davis, Executive Vice President, H.W. Kaufman Group, parent company to RB Jones. “In 2022 alone, we rebranded Global Excess Partners to RB Jones Property, acquired the Smart Cargo portfolio from Corvus, and added highly technical energy and solar product solutions to further enhance the capabilities of RB Jones.”
To learn more, or become appointed with RB Jones Professional, visit rbjonesinsurance.com or find the company on LinkedIn.
About RB Jones
Founded in 1905, RB Jones is a leading Managing General Underwriter providing specialty risk coverage solutions to brokers, agents, and wholesalers, including: Commercial Marine, Excess Energy, Commercial Property, Large Property Schedules, Middle Market Property, Flood, Professional Liability, Specialty General Liability, Commercial Umbrella/Excess Liability, and other unique products. More information can be found at www.rbjonesinsurance.com.
RB Jones is a member of H.W. Kaufman Group, which has over 60 offices across the United States, Canada, Europe, and South America and employs more than 2,000 professionals. More information can be found at www.hwkaufman.com.
October 11, 2022 –RB Jones, a leading Managing General Underwriter in specialty risk coverage solutions for brokers, agents, and wholesalers, today announced its new, exclusive Solar Commercial Insurance Program (SCIP).
Over the past decade, the solar energy market has experienced an average annual growth rate of 33 percent, according to the Solar Energy Industries Association. Declining costs, tax incentives and expanded storage capabilities have contributed to this increase in demand and usage.
“Partnering with a company that has renewable expertise for Commercial Solar opportunities allows RB Jones to support owners and operators of small to mid-sized commercial operations, such as schools, parking structures and boutique hotels,” said Brad Nehring, Director of Energy, RB Jones. “This clean energy solution also provides much-needed coverage options for developers, independent power producers and small utility companies.”
Coverage is offered at each stage of the renewable energy lifecycle, from site preparation and transportation, to installation, operation and decommission. Energy coverage options within the program include utility ground mount, rooftop commercial, community solar, carports, and Battery Energy Storage Systems (BESS) that are ancillary to a solar project. It can be tailored to individual projects as well as large scale portfolios and can be offered as a package or a standalone product. The coverage limits are up to $10 million for property and up to $5 million for umbrella.
“We continue to explore growth opportunities that further establish RB Jones’ capabilities and reputation as a preferred partner, especially those that bring relevant, impactful solutions,” said Mark Engel, Managing Director, RB Jones. “By pursuing this exclusive Commercial Solar program, we are able to underwrite and add another much-needed product to our growing portfolio of specialty insurance solutions.”
Farmington Hills, Mich. (Sept. 19, 2022) – RB Jones, a leader in providing specialty risk coverage solutions, today announced its Marine & Energy division acquired the Smart Cargo Insurance® business from Corvus Insurance, a specialty insurance MGA. This acquisition allows RB Jones to expand its comprehensive solutions for brokers, agents, and wholesale partners.
This Ocean Cargo product offers a custom solution for temperature sensitive cargo such as food and pharmaceuticals. As part of the transaction, RB Jones will have exclusive access to underwrite cargo insurance policies through Skyward Specialty Insurance Group Inc.TM, a specialty property and casualty insurance company that provides capacity to the Marine Cargo industry.
“RB Jones is pleased to add this new business to our portfolio of growing specialty products,” said Mark Engel, Managing Director, RB Jones. “Beyond deepening our capabilities within Ocean Cargo, the acquisition showcases our intention to expand RB Jones into a destination for highly specialized insurance solutions. This strategic acquisition increases RB Jones’ offerings and holistically enhances our expertise, operations and performance.”
This technology utilizes proprietary risk models built on a multitude of data points from cargo sensors to better inform underwriting, coverage, and rates. Additionally, the technology can be used to minimize or prevent cargo damage during transportation. The analysis and application of temperature stability data will assist RB Jones and its Marine Cargo clients in optimizing shipping methods and routes.
“Corvus has found an ideal buyer for our Smart Cargo Insurance® product line in RB Jones,” said Madhu Tadikonda, CEO of Corvus Insurance. “With a long history in marine insurance, we are confident their team will provide the support needed for our ocean cargo policyholders and underwriters to thrive.”
John Gambino, Underwriting Manager, Marine, RB Jones, leads the integration of the Corvus offering into the RB Jones portfolio alongside Engel. In addition, the company will welcome talent from Corvus to its Marine & Energy division as RB Jones associates. Zandra Brown joins as Head of Specialty Cargo and Kevin Kempf joins as Product Leader of Specialty Cargo.
“We welcome Zandra and Kevin to RB Jones and look forward to their work in launching this new product solution and business,” said Gambino. “Bringing in top talent and expanded product offerings is part of the company’s strategic plan to further grow the RB Jones brand.”
Both Brown and Kempf report to Gambino.
“Earlier this year, we rebranded Global Excess Partners as RB Jones Property, which was the first step in our long-term growth plan for the brand,” said Jodie Kaufman Davis, Executive Vice President, H.W. Kaufman Group, parent company to RB Jones. “We are continuing to pursue that path now with this business acquisition for our Marine & Energy division.”
About RB Jones
Founded in 1905, RB Jones is a leader in providing specialty risk coverage solutions to brokers, agents, and wholesalers, including: Commercial Marine, Excess Energy, Commercial Property, Large Property Schedules, Middle Market Property, Flood, Professional Liability, Specialty General Liability, Commercial Umbrella/Excess Liability, and other unique products. More information can be found at www.rbjonesinsurance.com.
RB Jones is a member of H.W. Kaufman Group, which has over 60 offices across the United States, Canada, Europe, and South America and employs more than 2,000 professionals. Founded in 1969 and headquartered in Metro Detroit, Michigan, H.W. Kaufman Group also includes: Burns & Wilcox, Burns & Wilcox Brokerage, Burns & Wilcox Canada, Atain Insurance Companies, Afirm, Stonemark, Minuteman Adjusters, Kaufman Institute, and Noremac Marketing Group. H.W. Kaufman Group International includes: H.W. Kaufman Group Europe, Chesterfield Group, Chesterfield LatAm, Lochain Patrick, Burns & Wilcox United Kingdom, Node International and Cranbrook Underwriting. More information can be found at www.hwkaufman.com.
About Corvus Insurance
Corvus Insurance is building a safer world through insurance products and digital tools that reduce risk, increase transparency, and improve resilience for policyholders and program partners. Our market-leading specialty insurance products are enabled by advanced data science and include Smart Cyber Insurance® and Smart Tech E+O™. Our digital platforms and tools enable efficient quoting and binding and proactive risk mitigation. Corvus Insurance offers insurance products in the US, Middle East, Europe, Canada, and Australia. Current insurance program partners include AXIS Capital, Crum & Forster, Hudson Insurance Group, certain underwriters at Lloyd’s of London, R&Q Accredited, SiriusPoint, and Skyward Specialty Insurance. Corvus Insurance, Corvus London Markets, and Corvus Germany are the marketing names used to refer to Corvus Insurance Agency, LLC; Corvus Agency Limited; and Corvus Underwriting GmbH. All entities are subsidiaries of Corvus Insurance Holdings, Inc. Corvus Insurance was founded in 2017 and is headquartered in Boston, Massachusetts with offices across the US, in the UK, and Germany. For more information, visit corvusinsurance.com.
About Skyward Specialty
Skyward Specialty is a rapidly growing specialty insurance company, delivering commercial property and casualty products and solutions on a non-admitted and admitted basis. The Company operates through eight underwriting divisions — Accident & Health, Captives, Global Property, Industry Solutions, Professional Lines, Programs, Surety and Transactional E&S.
Skyward Specialty’s subsidiary insurance companies consist of Houston Specialty Insurance Company, Imperium Insurance Company, Great Midwest Insurance Company, and Oklahoma Specialty Insurance Company. These insurance companies are rated A- (Excellent) by A.M. Best Company. For more information about Skyward Specialty, its people, and its products, please visit skywardinsurance.com.
Champions & Charities is our company’s signature philanthropic initiative to give back to the communities where we live and work.
The program champions causes important to our associates.
As part of Champions & Charities, RB Jones associates are provided paid volunteer time off to support nonprofit organizations close to their hearts. The company also makes monetary donations to various charities and matches employee donations during our annual Harvesting Hope Against Hunger campaign.
To date, Champions & Charities has supported dozens of non-profit organizations through associated-driven volunteering and fundraising, as well as company donations.
Harvesting Hope Against Hunger
Food banks around the world continue to experience an increase in demand.
Harvesting Hope Against Hunger is an associate-driven initiative to raise funds for hunger relief charities in their communities. Each policy bound or financed, claim closed, or job completed with a participating H.W. Kaufman Group company throughout the United States and Canada during the month of September results in a donation. Furthermore, all employee donations are matched dollar-for-dollar by Kaufman.
Associates are also encouraged to use their volunteer time off hours in September to support local food banks and distribution centers.
For September 2022, RB Jones will support City Harvest in N
Millions of honeybees tragically died on a hot airport tarmac in Atlanta after a series of mistakes that occurred while the bees were being shipped from California to Alaska. According to reports, the 800-pound shipment of bees could not be accommodated on its original Delta Air Lines flight due to an aircraft change that rerouted the bees to Atlanta, where a delayed connection meant the 200 crates of bees were left outdoors in the heat and removed from their coolers. While some of the bees were rescued by local beekeepers, most had already died when help arrived, the Atlanta Journal-Constitution reported.
On April 29, a spokesperson for Delta Air Lines told the Associated Press in a statement that the company had apologized to the beekeeper who sent the bees and took “immediate action” to prevent future incidents. The loss comes at a time when commercial pollination services have become more important amid a dwindling population of honeybees, TheNew York Times reported.
“It is quite tragic, in all honesty,” said Michael Dearness, Senior Underwriter, Freight Services Leader, Burns & Wilcox, Toronto, Ontario. “Shipment delays or an airline changing or re-routing a flight is something that I certainly do see happening more and more often, just given the state of the supply chain currently.”
These changes can have disastrous consequences, particularly when live animals are involved, said John Gambino, Cargo Manager, RB Jones, Marine & Energy, New York, New York. Anyone shipping animals or involved in their transit should have special expertise in this area and ensure they have the right insurance policies to address the risks.
“Animals are much more sensitive to transit than luggage, and they cannot communicate their discomfort,” he said. “It is really about picking the right shipping company and an insurance broker and carrier that have the expertise.”
Insurance can cover cargo damage, loss; may exclude live animals
Typically purchased by the owner of the shipment, Ocean Cargo Insurance can cover the loss or damage of cargo due to external forces such as fire, severe weather, water intrusion, or theft. When a cargo ship carrying luxury vehicles caught fire and sank in February, total damage to the vehicles was estimated at about $335 million, CNN reported in March.
Cargo theft in the U.S. hit a five-year high in 2020, Heavy Duty Trucking reported last April, and was also on the rise in Canada, with the Canadian Trucking Alliance estimating that total cargo theft losses cost about $5 billion per year, Global News reported in September of 2020.
“We have seen quite an uptick in theft and pilferage claims,” Dearness said. “We also see a lot of water damage, especially with ocean shipments, and also things like truck rollovers, train derailments, and rough handling.”
Ocean Cargo Insurance often covers the value of the cargo itself, the insurance and freight costs, and an additional 10% of the valuation for any unforeseen costs that may be incurred. “It is meant to put the cargo owner back into the position they were in prior to that loss taking place,” Dearness explained. “Absolutely any goods that are in transit on a truck, rail, plane or boat have some exposure to loss or damage, and all of that cargo has the ability to be insured on an Ocean Cargo Insurance policy.”
Live animals may be excluded from a standard Ocean Cargo Insurance policy, but an insurance broker specializing in cargo can tailor solutions for these situations, Dearness said. “In this specific [honeybee loss] situation, the bees were being transported as cargo and certainly could have been insured on an Ocean Cargo Insurance policy that would be taken out by the cargo owner themselves,” he said.
These owners should be especially careful when selecting a shipping provider, Gambino said. “When you are shipping animals, you have to take into consideration the temperature in the cargo hold, the humidity, and the level of carbon dioxide,” he said. “It takes an expert. The most important thing is you want your animal to arrive safely, so you should not be cutting corners. You want to interview the individuals in charge of it, and talk to those in logistics to make sure they know what they are talking about and are in compliance with international regulations on the shipment of animals.”
Shippers can face liability for damage to cargo
While Ocean Cargo Insurance is the most important policy for the owner of cargo to carry, those involved in the shipment process may need to purchase Cargo Liability Insurance or Errors and Omissions Insurance. These policies can cover damage or loss of cargo that is directly linked to a company’s shipping mistake. Liability for the honeybees killed due to shipping errors, for example, could fall back on the airline or any freight forwarder that may have been hired to manage the shipment.
“They certainly could have some liability,” Dearness said. “The Cargo Liability Insurance policy or Errors and Omissions Insurance policy would protect them in the event they are liable for the loss to the cargo or if they made an error. The Ocean Cargo Insurance protects the owner of the cargo, and the Cargo Liability Insurance is to cover the liability another company is accepting in either arranging or transporting the cargo.”
Problems outside of a transportation company’s control, such as delays at a port, would not typically be covered by these policies.
“If they cannot get into a port because the authorities will not let the ship in, that is not their fault and they just happen to be at the wrong place at the wrong time. If a vessel runs out of fuel, causing the electricity to go out, and it is because they did not stop for fuel when they could have, that is clearly an error,” Gambino explained.
Even if a shipping provider is liable for a loss of cargo, however, they may not pay for the full value of the goods. An airline, for example, may only cover cargo based on a dollar amount per pound, limiting the amount an owner could get back in the event of a loss.
“If you own something, you need to find out who is providing the all-risk first-party Ocean Cargo Insurance: the seller or the buyer,” Gambino said. “It is really never going to be the carrier. That is where they have to look at the terms of purchase. If it is silent on the insurance, you have to ask about it.”
Dearness agreed, explaining that the greatest potential for an uninsured loss in this industry is when a cargo owner assumes the shipping carrier is responsible for their goods in the event something goes wrong. “Far too often, we see situations where the cargo owner has an expectation that because they have given the goods to a reputable company, they will be made whole, when in fact that is not the case,” he said. “Too many individuals across all industries believe that.”
Delays can put cargo at greater risk for theft, other issues
Overall, shipping delays are currently “way up” and getting worse, Gambino pointed out. Today’s ongoing supply chain challenges are unlikely to resolve soon, with continued pandemic-related lockdowns in China, and issues related to the war in Ukraine, expected to disrupt global trade into the summer months, Bloomberg recently reported. New data shows that shipping delays between China and major ports in the U.S. and Europe have quadrupled since late March, CNN reported on May 6.
While Ocean Cargo Insurance policies often exclude lost revenue due to shipping delays, these hold-ups could put cargo at greater risk for theft and other perils that can be covered by insurance.
“Cargo at rest is cargo at risk,” Gambino emphasized. “As long as it is moving, chances are a thief cannot get their hands on it. If it is sitting in a yard for a month waiting for a truck to show up, there is much more time for something to happen.”
The same goes for temperature mistakes that may arise during a prolonged wait. In 2018, a study in the peer-reviewed journal Pharmacy and Therapeutics reported that billions of dollars of pharmaceutical products are stored improperly in shipment or delayed beyond their shelf life.
It is more important than ever for companies to stay closely attuned to the state of international politics and to consider diversifying their supply chain, Gambino noted. “As a shipper, you always need to follow international politics; something could be legal today and illegal tomorrow,” he said. “There is also always the logistics risk that goes along with the politics. If China shuts down because of COVID or there is a fire or earthquake, the importer may need to source their imports from more than one place. They should have a diversified supply chain.”
Understanding your purchase and shipping agreements, and where you stand with insurance, is “a good place to start,” Dearness added.
“There should be no issue as long as everybody understands [what is covered by insurance] and has the opportunity to seek an Ocean Cargo Insurance solution,” he said. “For any businesses that have not suffered losses previously and may not think they require insurance, even in the last two years or so there have been several instances in the news, including the Suez Canal situation, where your cargo can get damaged even if you do everything correctly. Goods in transit are susceptible to damage. A cargo owner can do everything right to protect themselves, but there is still risk and unfortunate things do happen in the shipping industry.”
Farmington Hills, Mich. (May 4, 2022) – H.W. Kaufman Group announced today the rebranding of its New York-based Global Excess Partners (GEP) as RB Jones Property, creating a new division within the RB Jones brand. GEP combines its Property Insurance business with RB Jones to expand its comprehensive solutions for brokers, agents, and wholesale partners.
“H.W. Kaufman Group is pleased to add RB Jones Property to our portfolio of growing specialty products given its unique ability to place challenging property risks,” said Alan Jay Kaufman, Chairman and CEO of H.W. Kaufman Group, parent company of RB Jones and Global Excess Partners. “This strategic transition not only expands RB Jones offerings, it also further strengthens GEP through the RB Jones brand and holistically enhances their expertise, operations, performance, and capabilities.”
H.W. Kaufman Group acquired Global Excess Partners in 2013 to deepen its property capacity and expertise. RB Jones will continue to service and focus on areas of growth such as Large Property Schedules, Middle Market Property, and Flood. Its Midtown Manhattan office remains key to the company’s market positioning and regional talent strategy.
“RB Jones has been in business for more than 115 years and is known as a staple in the specialty risk business,” said Brendan Cook, Vice President, Managing Director, Global Excess Partners. “Rebranding Global Excess Partners as RB Jones Property is an excellent opportunity to increase our market positioning as a preferred partner and to continue to bring our exclusive products to insurance brokers and agents.”
As part of the H.W. Kaufman Group family of companies, RB Jones has access to exclusive products through Atain Insurance Companies. Rated “A” (Excellent IX by A.M. Best), Atain is dedicated to serving niche programs and excess and surplus markets.
Brendan Cook, Vice President & Managing Director, and Carolyn Reiter, Associate Managing Director of GEP, will remain in their existing leadership roles in RB Jones heading the new Property Division.
About RB Jones
Founded in 1905, RB Jones is a leader in providing specialty risk coverage solutions to brokers, agents, and wholesalers, including: Commercial Marine, Excess Energy, Commercial Property, Large Property Schedules, Middle Market Property, Flood, Professional Liability, Specialty General Liability, Commercial Umbrella/Excess Liability, and other unique products. More information can be found at www.rbjonesinsurance.com.
RB Jones is a member of H.W. Kaufman Group, which has over 60 offices across the United States, Canada, Europe, and South America and employs more than 2,000 professionals. Founded in 1969 and headquartered in Metro Detroit, Michigan, H.W. Kaufman Group also includes: Burns & Wilcox, Burns & Wilcox Brokerage, Burns & Wilcox Canada, Atain Insurance Companies, Afirm, Stonemark, Minuteman Adjusters, and Kaufman Institute. H.W. Kaufman Group International includes: H.W. Kaufman Group Europe, Chesterfield Group, Chesterfield LatAm, Lochain Patrick, Burns & Wilcox United Kingdom, Node International and Cranbrook Underwriting. More information can be found at www.hwkaufman.com.
