Texas Regulatory Update

As you may already know, Texas has passed a new law which took effect on January 1, 2012. This law concerns Certificates of Insurance and how they will be handled by the Texas Department of Insurance.

Under the new law certificate holders are prohibited from requiring, and agents are prohibited from issuing, certificates on forms that have not been approved by TDI. For a list of currently approved forms visit the IIAT website.

Direct requests for information or questions regarding Certificates of Insurance to TDI at: PropertyCasualty@tdi.state.tx.us.

If a certificate holder requests an unapproved certificate form after January 1, 2012 we recommend that you issue an ACORD 25 and transmit it to the certificate holder with the following wording or something similar:

We have issued an industry-standard ACORD certificate of insurance issued on your behalf for the captioned client. A law passed by the Texas Legislature effective January 1, 2012 (Senate Bill 425) requires certificate forms (as well as questionnaires and related documents) to be filed with and approved by the Texas Department of Insurance. We are prohibited by law from issuing a certificate unless it has been approved. The certificate form you furnished for issuance was not found on the list of approved forms. If you have any questions about the new law, please contact the Texas Department of Insurance at 1-800-252-3439.

December 9, 2011

Vice President of Management and Professional Liability

RISC Inc. is seeking a Vice President of Management and Professional Liability in Dallas, TX with the following requirements: Bachelor's degree in Business, Political Science or related field plus 3 years related experience required including: experience with directors and officers, employment practices liability, pension trust liability, and crime insurance; consult with senior management to advise on program strategy, industry best practices and latest coverage enhancements.

Please submit resume to Rita Eubanks, HR Manager, at rita.eubanks@hubinternational.com and reference P062179 in subject line.

November 15, 2011

RISC’s Specialty Auto Unit Selected As Recipient Of Zurich’s Spirit Of Excellence Award

RISC, Inc was awarded the "Spirit of Excellence Award" for its outstanding performance of its Specialty Auto Unit in 2010 by Zurich’s Programs unit. This prestigious award is bestowed on a select number of high-performing program administrators who work with Zurich each year. RISC was the only program administrator working with Zurich’s Transportation division to meet the following award criteria:

Meeting or exceeding gross written premium plan
Exceeding profit objectives
Performing effectively in the areas of underwriting and finance
Executing effectively on annual action plans

"Receiving this award from Zurich is a tremendous honor for RISC," said Bill Staub, President of RISC. "The underwriting expertise and dedication to customer service shown by our Specialty Auto team is what sets RISC apart. We believe that the knowledge and dedication of our team directly benefits our agents in an always competitive marketplace."

View press release

October 15, 2011

Brad Drown, Vice President,
joins Energy Department

Brad Drown joined RISC’s Energy Department as Vice President, in the fall of 2011. Brad has been in the insurance industry for over 35 years. He began his career with USF&G spending four years with them in both Kansas City and New Orleans. He spent the next 30 years of his career with American Re/Munich Re in both Dallas and Minneapolis. Along with his vast knowledge of the Oil & Gas industry, Brad brings his diverse underwriting, consulting and management background to RISC’s Energy team.

Brad graduated from Kansas State in 1975 where he majored in Mass Communications. Brad and his family currently reside in Highland Village, TX.

February 4, 2011

Joe de Poo, Vice President, Transportation

Joe de Poo joined RISC in January 2011 as Vice President of RISC’s Transportation Department. Joe brings with him over 25 years of experience most of which has been dedicated to Commercial Transportation. He began his insurance career in 1983 with International Bankers Company in Coral Gables, Florida where he supervised an underwriting department. In 1989 Joe relocated to Dallas, Texas where he became the Vice President/Director of Operations at Barrett and Associates. In 1996 Joe began underwriting trucks at Texas All Risk and most recently served as Vice President of Transportation at Capstone Underwriters.

Joe brings to RISC not only his insurance knowledge but his mind for moving transportation business in the right direction.

January 2011