Get documents about "The Protector (PDF download)
Document Sample
Fall 2000
The Protector
THE NEWSLETTER FOR CLIENTS AND FRIENDS
OF THE PROTECTOR GROUP INSURANCE AGENCY, INC.
Quabaug Corporation
From North Brookfield
Quabaug has also ventured into
to "the roof of other exciting new areas including
the world" involvement in shoe repair with some
2500 authorized VIBRAM repair centers
across North America and the purchase
he Quabaug Corporation,
T located in North Brookfield, MA,
has reached some rather impressive
heights in the 84 years since Roger
of N.E.O.S., an overshoe company.
Whatever Quabaug is involved in, you
know they’ll finish on top.
Varnum’s grandfather was asked by the On The Protector Group
bank to take over a then failing rubber The Protector Group has had the
company. At the end of World War II, privilege of being along for much of
Quabaug was awarded the Army-Navy E On the future Quabaug’s corporate ascent. "We’ve
for Excellence for the products they While Quabaug has grown, the
provided to the military during the war. domestic shoe industry as a whole has
Conquering Mt. Everest—"the roof shrunk dramatically. Roger Varnum tells
of the world" was another of us, "In 1988, approximately 70% of the
those heights. shoes sold in the United States were
made in the United States. In 1999, the
On business today
percent of shoes sold in the United
Today, partners Roger Varnum and
States that were made in the United
Kevin Donahue lead a thriving Quabaug
States was less than 5%."
Corporation with 235 employees.
Quabaug manufactures products used So how does Quabaug not only
by the shoe industry. Its leading brand survive tremendous foreign competition,
Bob Vaudreuil, The Protector Group; Roger Varnum, Quabaug;
name is VIBRAM® shoe soles. Quabaug but flourish? One reason is commitment George Vogel and Susan Bernard, The Protector Group;
Kevin Donahue, Quabaug, on Supplier Appreciation Day
is the exclusive manufacturer of VIBRAM to quality. "Quabaug has always prided
soles in North America. They supply to itself on making quality products," says had a long relationship with The
leading shoe manufacturers including Roger Varnum. Kevin Donahue adds, Protector Group. They handle all our
Allen Edmonds, Cole Haan, Redwing and "We must continue to invest in new insurance needs. We’ve worked closely
Timberland. The VIBRAM brand is rec- technology in order to provide innovative, with Bob Vaudreuil, George Vogel and
ognized worldwide as the leader in high high-quality products. We recently Susan Bernard," said Roger Varnum.
performance soling products for outdoor, patented the design that has been Kevin Donahue concludes, "They are a
dress casual, and service footwear. In accepted for the combat infantry boot very professional organization staffed
fact, since 1962, VIBRAM soles have to be worn by US Marines and the with very professional people who have
been on the boots of many of the Canadian Military. The military is a kept us out of harm’s way. We can only
conquerors of Mt. Everest. very important market to us." speak of them in superlatives."
Michelle knows what That’s a Wrap...
clients want.
(Sometimes before they do)
How do you describe what Michelle Anctil
On Liability and
brings to the position of Client Service
Manager? Let’s start with enthusiasm,
commitment and talent. Crime Coverage
As Client Service Manager, Michelle
is responsible for managing the client
Wrapping up the details is what the newest product from Travelers is doing for
service operations of The Protector Group’s
agents and their commercial customers.
personal lines, commercial lines, and
employee benefits/financial services Known as The Wrap,SM this new product offers professional liability and crime
departments. She brings over 15 years coverages in one policy, including:
of diverse insurance experience to her • Directors & Officers Liability
position. Before joining The Protector Group,
• Employment Practices Liability (EPLI)
Michelle held managerial positions at
Worcester Insurance Company, and was • Fiduciary Liability
an underwriting supervisor at Commerce • Crime/Fidelity with ERISA Inflation Guard
Insurance Company.
• Kidnap & Ransom (K&R)/Extortion
"Wrap allows customers to purchase all employment-related specialty coverages
in one package policy, and makes for a more efficient and easier approach which
reduces coverage gaps," says Peter G. Herron of Travelers. This idea is especially
appealing to insureds who have not yet bought specialty liability coverages such as
fiduciary liability and employment practices liability.
According to Herron, "The product’s benefits are many. The Wrap is flexible and
can be tailored to each customer’s specific needs. It is comprehensive, offering an
array of coverage choices that minimizes gaps or overlaps. It is simple because
there’s a single application, issuing company, policy, effective date and claim facility.
From the customer’s perspective, it is affordable. Customers may expand coverage
economically through package discounts and also have the opportunity for premium
savings by allowing different coverages to share a common policy limit."
The Wrap is designed specifically for customers who are privately owned manu-
facturers, wholesalers and distributors with 1,000 or fewer employees, and revenues
Michelle says, "One of the things that
of $100 million or less. Selected business services and retail services may also be
excites me about working here is that
good candidates. Other special features include:
because of my experience I understand—
• Common policy terms and conditions, thereby reducing coverage gaps/
and can balance both the company’s and the
overlaps and differences often evident with separate policies.
clients’ needs. I can develop a staff that not
only meets the company’s needs but, more • Risk Management Plus+SM included with the purchase of EPLI. This
importantly, meets the needs of our clients." comprehensive, ready-to-use program helps decrease exposure to
She adds, "Timely and equitable claim settle- employment-related claims while reducing workplace theft and violence
ment is—and will continue to be a priority and workers’ compensation fraud.
with all our staff. My ultimate goal is to have • Kidnap & Ransom Crisis Management services included with the purchase
the entire staff be able to forecast our clients’ of K&R. Crisis management services are available 24 hours a day, 365 days
needs before they need us."
a year.
Michelle lives in Charlton with her
The whole concept behind this state-of-the-art product is to "wrap" all coverages
husband and two sports-loving boys,
into a single policy, application and renewal process.
ages 8 and 13.
Acterna
One Big Happy Family of 5000
A cterna Corporation, formerly Dynatech, is a successful
high-tech networking company with corporate headquarters
in Burlington, MA. Acterna enables its customers to strengthen
profitability by improving service to their customers with a wide
range of network analyzers, systems, software, strategic services
and technical training. Customers include service providers,
enterprises and equipment manufacturers. As a result of a merger
the Acterna banner.
back in May, Acterna doubled in size. Today they are a global
Will she succeed? Oui! Si! Ja! Yes!
company with 80 locations outside of the United States and
5000 employees worldwide. On the future
Success in the future will depend on continuing to do the
On business today
things that have made Acterna successful today. One important
The task of making (and keeping) this big family happy rests
area is keeping and attracting talented employees. Carol tells us,
on the able shoulders of Acterna’s Director of Corporate Benefits,
"In our industry, the competition for talent is fierce. Our goal is to
Carol Cristiano. Working in Human Resources, Carol’s focus is
become the employer of choice to attract the industry’s best and
people. Carol
brightest." Carol believes the company’s 401k plan is particularly
faces a number of
attractive. She said, "We have an outstanding plan. I can say that
challenges in trying
without fear of contradiction. It is good news for our new people
to bring everyone
and is very well appreciated."
together and up
to speed. How do On The Protector Group
you say 401k in a Acterna historically had never used brokers. Then several
dozen languages? years ago The Protector Group’s Tom Connors made a cold call
Merging all of to Carol. Uncharacteristically, she had him come in. She threw out
Melissa Walker, Acterna; Tom Connors, The Protector Group; these different a task. The same task that she had given to many brokers in the
Carol Cristiano, Acterna; Bob Vaudreuil, The Protector Group cultures into one past. The others had never responded. Carol finishes, "It wasn’t
corporate culture with one integrated benefits package is not a week later that Tom came back with a comprehensive report
easy. There are different regulations, requirements and pension with all kinds of proposals. It saved the company a tremendous
schemes within each of the separate companies now under amount of money. We’ve been with them ever since."
Industry Expert Says Rates to Rise
The past 12 months have seen an increase in pricing in commer- were driven down primarily by competition—aggressive pricing
cial lines (business insurance): package insurance, property liability, by companies trying to gain market share." As a result, during that
commercial automobile and workers’ compensation. "This is quite time, commercial accounts actually saw their rates either stay the
a change," according to Mr. Barry May, President of Hanover Ins- same or go down.
urance Company, a property casualty company with headquarters Now the market is hardening. Mr. May explains, "We are seeing a
in Worcester, and a part of Allmerica Financial Corporation. "The rationalization of the market—the market is correcting itself." Why?
property/casualty industry has been in what is known as a soft According to Mr. May, "In 1999, the return on equity for the property
pricing cycle for about ten years. During that period of time, prices casualty industry was 6.4%. Compare that to the Fortune 500
continued on back page
Insurance InSITE
nsuring You Make the Right Decisions is our top priority. It’s you need at The Protector Group’s site. With a click of your
I why our WEBsite (www.protectorgroup.com) was created.
If you’re interested in reducing your workers’ compensation
costs, providing
mouse, you’ll discover what sets us apart from other independent
insurance agents: the wide range of our expertise along with our
commitment to provide the best products and services from
comprehensive the finest insurance companies. You can also find out what’s
employee benefits, Hot in the Insurance Marketplace, request a quote for personal
or protecting your automobile insurance, and contact our insurance professionals
business interests at any of our offices 24 hours a day, 7 days a week.
with Errors and Check it out the next time you’re surfing the web, and let us
Omissions coverage, know what you think. We welcome any suggestions on how to
you’ll find just what serve you even better.
continued from previous page
Industry Expert Says Rates to Rise
W
Average of 16.5%." Also from 1999, "For every $1.00
written in premium, companies lost $1.07." Profit is down,
hen we do the best
as is net income and return on equity. Simply put, insurance that we can, we never
companies are not producing the return on investment their
know what miracle is
stockholders expect. The message is clear. They want to
restore profitability. wrought in our life, or
Mr. May concludes, "We will see a restoration of writing in the life of another.
discipline, companies making sure to get the right rate for the
risk, which means higher rates. Companies will also be more — Helen Keller
careful about the types of business they write, being mindful
of companies that have had loss problems or are higher risk."
PRSRT STD
US POSTAGE
PAID
WORCESTER MA
PERMIT NO. 2
5 Neponset Street
Worcester, MA 01606
(888) 850-9400
www.protectorgroup.com
Worcester • Wellesley • Leominster • Millbury
