New, Cutting Edge Insurance Business – ThinkRisk – is Formed
December 21, 2009, KANSAS CITY, MO – ThinkRisk Underwriting Agency announced today that it will open for business in February 2010. ThinkRisk will offer underwriting and claims management services in the converging areas of media, technology, advertising, privacy and network security, specializing in errors and omissions (E&O) insurance.
ThinkRisk was founded by industry veterans Chad Milton, Leib Dodell and Debra McClenahan. Aon founder Patrick G. Ryan will serve as the company’s Chairman; Milton, Dodell and McClenahan will run the daytoday operations. “Media and technology companies are facing an increasing number of risks and liabilities in the rapidly changing electronic era,” said Chad Milton. “Our highly experienced team of insurance professionals can provide clients with holistic solutions where risks converge.”
ThinkRisk will offer coverage backed by the financial strength and underwriting expertise of member companies of Great American Insurance Group, a specialty insurance provider that has received an “A” (Excellent) or higher rating from the A.M. Best Company for over 100 years. “This is a great relationship for us,” said Bruce Smith, president of Great American’s Executive Liability Division. “We are impressed with the expertise of the ThinkRisk team, and we look forward to a long relationship with the team and a strong commitment to these lines of business.”
These industry segments require specialty coverages that depart from the ordinary practices of standard property and casualty markets. ThinkRisk provides a more nimble and effective structure to bring claims and underwriting together to deliver unique results to the client and carrier. “These niche lines of business require a high degree of focus and specialization,” said Leib Dodell. “We understand the nuances of these industries, and can respond with a sophisticated, personalized approach.”
As the founder and retired executive chairman of Aon Corporation, Patrick G. Ryan has more than 45 years as a leader in the worldwide insurance industry. “My investment in ThinkRisk reflects what I see as a real need to manage modern liability challenges,“ said Ryan. “ThinkRisk’s founders identified a significant gap in today’s insurance business and can provide a unique, seamless suite of coverages to complement these changing times, industries and business practices.”
Ryan’s investment and involvement in ThinkRisk is part of a strategy focused on providing services to insurance agents, brokers and carriers through vehicles such as Managing General Underwriters and wholesale brokerages. For more information, please visit the company’s Web site, ThinkRiskIns.com, or inquire by e-mail at email@example.com.
About ThinkRisk Underwriting Agency, LLC
ThinkRisk is a Managing General Underwriting Agency offering underwriting and claims management services for highly specialized professional liability lines of business, including: media, technology, advertising, privacy and network security. Founded by Chad Milton, Leib Dodell and Debra McClenahan, ThinkRisk is headquartered in Kansas City, Mo. To learn more, visit ThinkRiskIns.com.
About Great American Insurance Group
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed, indexed and variable annuities and a variety of supplemental insurance products. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for over 100 years (most recent rating evaluation effective on March 27, 2009). The members of the Great American Insurance Group are subsidiaries of American Financial Group, Inc . (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange and the Nasdaq Global Select Market under the symbol (“AFG”).
About Patrick G. Ryan
Patrick G. Ryan is the founder and retired executive chairman of Aon Corporation – the world’s largest insurance and reinsurance broker. As an entrepreneur, he founded the company, which has its origin in a small insurance agency, in 1964. Under Ryan’s leadership, the company continued to expand through organic growth and acquisition, and in 1987 changed its name to Aon Corporation, which today operates with more than 500 offices in 120 countries.