Glenn W. Clark, CPCU, owner and president of Claymont, Del.-based Rockwood Programs, understands well the value of relationships in business, especially in the insurance business.
And despite the many ways to connect and communicate, face-to-face meetings are still the most valuable but cover holders and risk takers often are not in the same city, state or even country.
To meet some of these challenges, Clark has started an organization called CHART-Exchange (CHART stands for Cover Holders and Risk Takers). Its main purpose is to create new business opportunities between the U.S. and London market by facilitating contacts with producers and offering a forum for the exchange of ideas.
To reinforce the organization’s main purpose, the inaugural CHART-Exchange Summit, called the “Declaration of Interdependence,” took place Oct. 12–14 in Philadelphia, at which Clark brought together more 331 attendees, including current coverholders, potential coverholders, risk takers from London syndicates and vendor representatives. Lloyd’s provides specialized coverage for complex risks not typically provided through normal channels, and is the No. 1 excess and surplus lines insurer and reinsurer in the United States. Almost 40 percent of Lloyd’s global business comes from the U.S., accounting for $14.6 billion in premiums last year.
“The goal is to bring together these decision-makers to develop ideas and products, establish new relationships and promote peer-to-peer networking,” said Clark. “We are excited about attendees exploring new business opportunities, interacting with each other and expanding their skill-set in our informative workshops.”
At right, Glenn W. Clark at the CHART-Exchange Summit opening. (Contributed photo)
The workshops included “The Life and Times of a Coverholder,” “Turning Underwriters into Production Sources,” and “Becoming a Coverholder.” In addition, the summit also hosted a "Shark Tank" ("Dragon’s Den" in the United Kingdom) competition for the best new product or marketing idea providing the entrants a chance to win $10,000 in funding. The event was sponsored by Iris Insurance Brokers Ltd., a London-based specialty program broker that works with existing, new and potential coverholders to develop and place business with Lloyd’s syndicates.
Next step
Clark commented that the Risk Taker Lounge always full with new deals happening and opportunities being explored. “The London risk takers will all be back in 2016,” he added. He described the event as a “smashing success.”
Based on the feedback Clark and his team received, he is holding what he calls a “constitutional convention” in Wilmington, Del., on Jan. 6, 2016. For more information contact Clark directly at [email protected] or [email protected].
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
