PRESS RELEASE | K2 Insurance Services Acquires High Point Underwriters

Partnership with Midwestern Insurance Alliance enhances occupational accident insurance offering

SOLANA BEACH, CA – K2 Insurance Services, LLC (K2), formed in 2011 to acquire managing general agencies (MGAs) and specialty program administrators and underwriters to create a leading franchise in the insurance program market, has acquired Morris Plains, New Jersey-based High Point Underwriters.

Concurrently with the acquisition, High Point, together with Midwestern Insurance Alliance, have partnered with QBE North America to administer a national workers’ compensation and occupational accident insurance program. Louisville, Kentucky-based Midwestern Insurance Alliance, led by Marc Risen, is a national workers’ compensation program administrator focused on the transportation industry.

The coverage will be provided through QBE North America’s A.M. Best “A” rated insurance companies on both an admitted and non-admitted basis.

The combination of K2’s workers’ compensation specialist, Midwestern Insurance Alliance, and High Point establishes a diversified national insurance solution for both employee drivers and independent contractor owner operators.

“David King and Roman Atkielski have built High Point into a prominent occupational accident program administrator and will continue to lead the business day-to-day,” commented K2 President Bob Kimmel.

“High Point and its team bring a wealth of valuable expertise in occupational accident insurance for independent contractors, and we are excited to partner with David and Roman in expanding their franchise nationally. We believe the combination of a specialized, successful occupational accident product and a focused trucking workers’ compensation program with thirty years of expertise and distribution offers a compelling value proposition to the marketplace.”

“At the same time, K2 will continue to seek other acquisition and growth opportunities around the country,” Kimmel added.

“We are pleased to join forces with K2, High Point, and Midwestern Insurance Alliance. This partnership provides QBE with new opportunities to expand our business and bring our innovative workers’ compensation solutions to the market,” said Glenn Skrynecki, Interim Senior Vice President, Programs, QBE North America.

High Point will also continue to write occupational accident insurance on behalf of Lloyds of London.

About K2

K2 was formed by Kimmel and Pat Kilkenny, Chairman and CEO of K2, in partnership with investment firm Endeavour Capital. Additional information is available at www.k2ins.com.

About QBE

QBE North America is part of QBE Insurance Group Limited, one of the largest insurers and reinsurers worldwide. QBE NA reported Gross Written Premiums in 2015 of $4.6 billion. QBE Insurance Group’s 2015 results and additional information can be found at www.qbena.com.

Preventing Employee Legal Concerns

Employers of all types are faced with a variety of risks on a daily basis. However, one that may not be considered too often is the potential for litigation over employee issues. Especially as our society is so litigious, there are certain precautions that employers need to take in order to reduce Employment Practices Liability claims. Therefore, employers need to heed the following advice and reduce their risk.

Comply with wage laws.

It’s imperative to categorize employees appropriately. This means that hourly and salary workers are paid in compliance with wage laws. Small Business Trends states that there are various criteria used when determining whether an employee is considered exempt or nonexempt:

  • Those earning less than $455 per week are nonexempt.
  • The basis test means that a salaried employee generally has a specific amount that they can count on each pay period.
  • The job duties test generally means that those with managerial duties and the ability to hire and fire are exempt employees.

There are more employee dispute lawsuits than ever before, with almost 9,000 last year alone. Therefore, employers should consult with a legal professional to ensure their pay structure is accurate and in compliance with the law.

Prevent discrimination.

While it may be a well-known fact that it is unlawful to discriminate against anyone due to race, gender, sexual orientation, marital status, religion or disability, there are some other factors that could lead to litigation for employers. For example, maternity leave policies, vacation pay, and sick policies all need to be in compliance with state law.

As such, the Equal Employment Opportunity Commission (EEOC) has a list of all the rules and regulations that must be implemented within any business. Once these are read and understood, employers are more likely to prevent discrimination, comply with the law, and reduce their chances of facing an employment practices liability lawsuit.

At K2 Insurance Services, LLC, we are dedicated to creating a leading underwriting and distribution franchise both in the standard and specialty program insurance markets. K2 was formed by two insurance industry veterans with the purpose of acquiring managing general agents and developing multi-line programs. Our goal is to distribute innovative products through retail and wholesale distribution channels. To learn more about our services and partners, please contact us today at (855) 976-8113 or visit K2INS.COM.

Aegis General Insurance Agency Announces Mark Gatto as Northern Region Marketing Director

logo-AegisLogo

March 8, 2016

                                   

FOR:

K2 Insurance Services, LLC

514 Via de la Valle, #302

San Diego, California 92075

Bob Kimmel (415) 225 7475

rkimmel@k2ins.com

Aegis General Insurance Agency Announces

Mark Gatto as Northern Region Marketing Director

      Specialty personal lines insurance veteran

      Will be responsible for Northern Region

HARRISBURG, PA – Aegis General Insurance Agency announced today that Mark Gatto has joined the specialty insurance agency as its Northern Region Marketing Director. Gatto comes to Aegis General with a successful track record in leading growth initiatives through a variety of distribution channels for manufactured homes, low-value dwellings and other specialty personal property. Gatto “will be heavily involved with several large national partners as well as the growth and management of distribution efforts in the Northern Region,” Aegis General Senior Vice President of Marketing Jeremy Gluck announced today.

“Mark’s relationships and knowledge of the specialty personal lines space will help ensure continued success in the growth of this specialty business, which has exceeded that of the insurance industry overall, in spite of a dramatic downturn in the manufacturing housing industry,” Aegis General’s CEO Bob Kimmel said. “While other companies have avoided this segment, we not only remain committed to it but intend to pursue continued growth in this space.”

Gatto’s role at Aegis General will include management of the existing Northern Region, including responsibility for current distribution through general agents and the expansion of Aegis General’s agency base in the Northern Region.

Gatto most recently was Vice President of National Accounts for American Modern, where he was responsible for similar specialty insurance business nationally. Prior to American Modern, Gatto maintained similar positions with Markel American, Northland and Foremost.

Aegis General Insurance Agency is a unit of K2 Insurance Services LLC, a group of specialty insurance operations, and underwrites on behalf of Aegis Security Insurance Company – also a K2 unit – and other insurers.

Aegis Security is rated “A” by A.M. Best and is admitted in all 50 states and the District of Columbia. K2 Insurance Services acquired Aegis Security in 2013.

K2 Insurance Services also includes five other general agencies that manage, underwrite, and distribute products on behalf of Aegis Security and other carriers. They include Allied Public Risk, High Point Underwriters, Midwestern Insurance Alliance, Mission Select Insurance Services, and Vikco Insurance Services. Additional information is available at www.k2ins.com.