Business Moves

Networked, LexisNexis Exchange

Grass Valley, Calif.-based Networked Insurance Agents has signed on with LexisNexis Risk Solutions Insurance Exchange, a significant step for LexisNexis into the West, the collaborative insurance placement platform said.

Networked Insurance Agents has roughly 1,200 small- to mid-sized independent member agencies. Networked joined the LexisNexis to help the organization manage and maximize its mid-market commercial business submissions to its carrier partners, according to the companies.

The LexisNexis Insurance Exchange is a business and renewal submission placement platform that enhances the flow of application data between insurance carriers, agents and brokers.

This exchange is the result of an alliance formed through LexisNexis Risk Solutions, The Council of Insurance Agents & Brokers and Marketcore Inc.

LexisNexis’ Insurance Exchange, based on cost per user, operates in a cloud. LexisNexis Risk Solutions is part of Reed Elsevier, a publisher and information provider.

Ventura Partners, Barlocker

Ventura Partners BHR LP has acquired the assets from Barlocker Insurance Services of Ventura, Calif.

Terms of the acquisition were not disclosed.

Barlocker Insurance Services was formally affiliated with the Leavitt Group.

The new insurance brokerage is named Coastal States Insurance Services, and has offices in Ventura and Paso Robles, offering property/casualty and employee benefits, as well as personal lines to their customers.

Milliman Risk Institute

Seattle, Wash.-based consulting and actuarial firm Milliman Inc. has formed Milliman Risk Institute, designed to provide scientific-based thought leadership to executive management on all facets of enterprise risk.

The new risk institute has an advisory board of eight senior risk managers. It convened its first meeting on Nov. 3, 2011.

The Milliman Risk Institute will publish market research, case studies, best practices and perspectives from chief risk officers and other risk management experts. The Institute expects to publish its initial research in advance of the 2012 ERM Symposium in Washington D.C. in April.

The advisory board pairs four Milliman employees and four risk officers with experience in large enterprises.

Advisory board members include:

• Dr. Stephen D’Arcy, professor emeritus of finance, University of Illinois;
• Brian Brown, Milliman principal and consulting actuary;
• Neil Cantle, Milliman principal and consulting actuary;
• Michael Eshoo, ERM director, General Electric Aviation;
• John C. Kline, director of risk and insurance management, Discover Financial Services;
• James Lam, president, James Lam & Associates;
• Sam Nandi, actuarial group leader, Milliman’s financial risk management practice and
• Michael Schmitz, Milliman principal and consulting actuary.

Milliman has consulting practices in healthcare, property and casualty insurance, life insurance and financial services, and employee benefits.

Western Insurance, On Point Risk Solutions

San Diego, Calif.-based Western Insurance Holdings Inc., a property/casualty holding company, has formed On Point Risk Solutions.

On Point Risk Solutions, also in San Diego, provides an array of property/casualty services to commercial property and liability insurance carriers, managing general agents, reinsurers and self insureds, including public entities.

A surety and construction division has been set up, with surety services including underwriting assistance, surety claims, staffing, start-up support, surety program run-off assistance, audits and due diligence reviews.

Privately held Western Insurance Holdings Inc. is the parent of ICW Group Insurance Cos., a group of property/casualty carriers that includes: ICW Group Insurance Cos.; Risk Insurance Brokers of the West; and On Point Risk Solutions Inc.

Wellpoint, RLJ

Wellpoint and RLJ Insurance Services have developed a strategic alliance that designed to enhance and expand Wellpoint’s supplier diversity offerings.

The companies will offer medical stop loss products and services to group customers looking to increase their Minority Business Enterprise (MBE) participation allocation. The coverage will provide protection against catastrophic or unpredictable costs.

Indianapolis-based WellPoint is the nation’s largest health benefits company by medical membership.

RLJ Insurance Services is a part of the Bethesda, Md.-based RLJ Cos.