Congratulations to Craig Joncyk for being listed on this year’s Risk & Insurance Power Broker list! See text below:
A Partner for Growth
Senior Vice President
Krauter & Co., Spring, Texas
Clients say Krauter & Co.’s Craig Joncyk goes the extra mile, positioning them to further develop their operations. One such company is Dallas-based Pegasus Logistics, where Brian Cheshier is the director of business operations.
Pegasus is not a large organization, he said, and directors have to wear different hats. Therefore, Cheshier needs brokers he can trust.
“Craig listens to us, he tries to understand what we need, and is open to thinking outside the box,” he said. “When I first met him, I said that I was not looking for a broker, but for a business partner. And that is exactly what he is.”
The partnership paid off last year when one of Pegasus’ clients made changes to its contractual obligations, shifting more liability to transportation providers for expensive equipment being moved.
“A couple of carriers decided not to participate in the program anymore due to the new liability exposures,” Cheshier said. “But with Craig’s help, we were able to find a creative way to obtain the coverages we needed. We adopted process changes that made the risk acceptable to carriers, while keeping premiums at a level where we can remain competitive.”
The solution produced a lasting reduction of damages and helped to strengthen the confidence of a vital client of Pegasus’ services. “Not only did we retain the business, but it has almost [tripled] in the past 12 months,” Cheshier said.
Robert Brittany, Vice President of Human Resources & Compliance, of California Family Fitness gave the following review on LinkedIn:
"Even as an attorney, my understanding of insurance and risk management practices pales when compared to the knowledge and skills of Lori MacDonald, Director of Middle Market, and her team at Krauter.
Her acumen was only matched by her proactive desire to understand our business and operations. Her partnership was so thorough that, with the Workers Compensation division at Krauter through Sandra Walz, our modification rate dropped 32% from the time Krauter became our broker. In the GPLI areas, Krauter assisted with driver’s education training for our staff and established internal audits of our facilities. Krauter provided on-point improvements while never failing to balance the pragmatic needs of the business with risk avoidance measures.
Although national in scope, not once did Krauter treat our needs, our calls, or our emails, as second-tier issues. Responses came quickly -- COIs typically within the same day. So communicative was Lori and her Krauter team that I would often be reminded by her of project milestone tasks for which I was responsible -- they were so in-synch with our business it felt as if I had an on-staff assistant dedicated to our risk management needs. Lori was even available for in-depth lease reviews, adding a much needed perspective to our processes.
You will do your firm or company a great service by allowing Lori and Krauter to partner with you just as they have partnered with us."
LinkedIn - September 28, 2016More →
By Nicholas Elliott
Private equity deal activity may be lagging in the broader mergers & acquisitions boom, but private investors are ahead of the game when it comes to taking out insurance on deals.
In a report released last week, Marsh said there has been "dramatic growth" in transactional risk insurance this year in the U.S. market as well as worldwide growth overall.
Karen Beldy Torborg, global leader of the company's Private Equity and M&A Services practice, was quoted saying that insurance is being used to complete deals "and we don't see this trend subsiding any time soon." Acquisitions involve risks of various kinds, but insurance is a way of reducing those risks and bringing both sides to a final agreement.
Marsh said private equity firms are the heaviest users of this type of insurance, a trend backed by a panel of brokers and insurance experts convened by risk information provider Advisen on Thursday.
They said demand for such products is dominated by "mid-market" firms doing deals as small as $20 million, with the cost of insurance sometimes making it prohibitive for larger M&A deals and corporate acquirers often preferring to "self-insure" or take on the risks for themselves.
But they cautioned that buyers can find underwriters insisting on exclusions from policies where due diligence on the target isn't seen as sufficiently robust.
Such exclusions are made for one of two reasons, said Jeff Rubocki, a senior managing director at insurance brokerage firm Krauter & Co. and panel participant. One reason is a lack of information. The other is the underwriter doesn't want to take on a known risk, "and there's nothing you can do about that," said Mr. Rubocki.More →
We are pleased to announce that Krauter & Company has earned a spot as one of Inc. Magazine’s 5000 fastest-growing private companies in America.
In its 33rd annual list, Inc. Magazine provides year-over-year insight into the American economy by tracking the expansion of the fastest-growing private companies in the United States—and the entrepreneurial spirit driving them. There are nearly 7 million private companies in America, and all of them aspire to be on the Inc. 5000 list.
It is accredited to our talented professionals, along with our commitment to our clients and our partners, which has allowed us to achieve this great honor.
About the Inc. 5000 List
The Inc. 5000 winners were selected among thousands of nominated privately held American companies. Distinguished previous winners include Intuit, Zappos, Under Armour, Microsoft, Jamba Juice, Timberland, ClifBar, Patagonia, Oracle and Zipcar.
Inclusion on the list was determined by measuring revenue growth from 2010 to 2013. Additionally, companies chosen had to be U.S.-based, privately held, for profit, and independent-not subsidiaries or divisions of other companies-as of December 31, 2013.More →