Casualty loss, a massive loss of tax revenue resulting from an accident can DeductionsA floods, hurricanes occur to generate, tornado, landslide or other natural disasters. The intuitive thinking is: “My apartment complex of $ $ 5,000,000 suffered major damage in the amount of $ 1,500,000 for repairs and rent loss. Fortunately, I was completely covered [...]
Jenkins Athens Insurance Services, insurance brokerage and benefits firm Concord has renamed itself Jenkins Insurance Group in a move to reposition the brand that all its services under one name. The name change will take place in two steps: the new brand and logo that will be implemented immediately to the company property and casualty insurance services, and early in 2009 for the portfolio of the company’s profits, in Athens. The Athens name was introduced in the 1980s, when the company expanded in to employee benefits services. Jenkins had premium volume of $ 436,000,000 last year, up from 423 million in 2006. It is the brokerage for third place in the East Bay, East Bay Business Times research. The company is positioning itself seen in a time of upheaval and consolidation in the insurance industry, the commercial property and accident, the premiums fall 5-15 percent per year for the past four years that the fight for market shares of companies. The desire to build market share and leadership position in growth markets, while simultaneously increasing economies of scale is behind a series of recent mergers, including the Willis Group Holdings Ltd., $ 2. 1 billion acquisition of rival Hilb Rogal & Hobbs Co., an agreement announced earlier this month. Based in London, is the broker Willis is the third largest in the world behind Aon Inc. and Marsh & McLennan. Closer to home, an Oakland firm Saylor & Hill Co. in May completed merger with Barney & Barney LLC in San Diego. And Wells Fargo & Co., a number of acquisitions in the insurance industry area in recent years has made. independent brokerage houses have sold large firms as founders sought an exit strategy, and, increasingly, as they found it difficult to compete more companies stuck high. Jenkins CEO Curt said Perat Jenkins is determined to remain independent. The 71-year-old company’s history, was launched by James W. Jenkins and is still family. The son of the founder, James C. Jenkins is president of the Society and a member of the third generation, James R. Jenkins is director of the division directors of Athens. “Rebranding costs a lot of money” to save, said. “There are a variety of investment and a lot of thought process that goes into the brand.” In this case, the change of the name a way to better reflect the values and history and has relationships that the company, “he said. Jenkins said, spent nearly $ 500,000 on the rebranding effort, said Perat, including a new Web site . In these times it is important investments. “The premium declines are good for customers of Jenkins, but the downside is that lower commissions as well. Jenkins has increased its total number of clients 10-15 percent on both sides of the business, said Perat but the turnover of property and casualty side, which represents about 60 percent of total company revenue is flat. Turnover on the power side, meanwhile, rose by 10-15 percent per year. In 2007, approximately 39 million turnover Jenkins stable with $ 38,000,000 in 2006. Perat declined to reveal exact figures of income, but said revenue from services is still strong, while income from property and casualty side has seen a lot of downward pressure. Jenkins hopes use the repositioning of the brand to bring more business and increase the amount of cross-selling it between their departments. Currently, about one third of its customers to purchase services from both sides of his company, said Perat.
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Casualty Insurance: What Is It?Many people are familiar with various types of insurance such as life, health and / or property insurance, but it is not as widespread as those in the general insurance conditions. This is probably because this type is defined and loosely used term in the field of insurance. Accident insurance is sometimes a liability insurance [...] |
