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Intelligent Insurer Names Holborn #1 for “Expertise & Market Knowledge”

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New York, September 14, 2015—Holborn, a U.S.-based independent reinsurance broker, is pleased to announce that we’ve been recognized by Intelligent Insurermagazine as Number 1 for “Expertise & Market Knowledge”* in its annual Global Awards.

The awards were presented Sunday, September 13 at a ceremony in Monte Carlo, Monaco.

This marks Holborn’s second consecutive Intelligent Insurer Award. In 2014, we were named “No. 1 for Best Reinsurance Broker for Client Service” among firms with revenues less than $1 Billion.

Vaulting From Fifth Wheel to ‘Top Dog’!
We’re especially pleased with this recognition because, as Intelligent Insurer explains in its Global Awards 2015 Commemorative Issue, these honors are based on extensive research gained from the magazine’s annual Global Reinsurance Survey, which reflects “the perception of global executives.”

holborn wins intelligent insurer 2015 award

Download PDF detailing Holborn’s award.

“There were quite a few changes in this category from 2014 to this year, with the top spot in 2015 now occupied by Holborn, which rose from fifth place last year with a score of 6.58 out of 10, ahead of last year’s top dog JLT Re with a score of 6.50,” the program states. TigerRisk Partners, Lockton and BMS were 3rd, 4th and 5th, respectively.

In addition, this year Holborn was second in the category of “Best Reinsurance Broker for Innovation.”

 

Independence & Preparation Earn Recognition
Weatherly Hammond, Holborn Vice President & Director of Marketing/Media Relations, says that her firm’s leadership was honored and excited by this prestigious designation. She attributes the 95-year-old firm’s recent recognition to building strong, trusting client relationships.

“We’re especially pleased to be recognized in categories that we believe represent our greatest strengths. Clients trust us to look for the best program to address their business issues and position them for future success,” she says. “We do an especially good job bringing in the expertise of a full team – claims, accounting, contracts, actuarial and broking.”

Finally, and perhaps most important, she stresses that Holborn’s status as a privately help broker is respected throughout the industry. “Our independence is how we differentiate ourselves; we answer only to our clients, not to stockholders.”

To learn more about Holborn’s Intelligent Insurer Global Award, you may access the commemorative program here or contact Hammond at weatherlyh@holborn.com.

Risk that is understood, managed, and clearly communicated in a way that is consumable to everyone in your organization encourages a strong risk culture. Governance, training strategies, metrics & controls, and capital allocation are techniques to ensure day-to-today adherence to your ERM program and corporate strategy. Leveraging Holborn’s comprehensive tool suite, we help tailor an ERM framework that supports managing your risks. 

One of the key objectives of an insurer’s operating strategy is to maintain an acceptable target financial strength rating. Holborn has extensive experience in helping clients balance the sometimes-conflicting objectives of growth, profitability, portfolio optimization, capital adequacy, and multiple return metrics. Our robust financial analytics enable our clients to assess multiple key performance measures and analyze how various strategic decisions could be expected to impact the company’s financials and underlying qualitative and quantitative rating factors. 

By their very nature, catastrophic property losses can wreak havoc on businesses and personal property, as well as the balance sheet. Media coverage of the devastation from a hurricane or tornado often makes these events seem “unexpected.” Even though recorded weather history is relatively limited (on a geologic scale), it’s clear that outliers, storms of extraordinary magnitude, have occurred before and will again. 

It shouldn’t be a surprise that some of the largest insured events we see are not property, but liability-driven. Losses stemming from workers’ compensation, mass tort, clash, runaway defense costs, product liability, and punitive damage judgments can quickly add up to amounts greater than most weather or fire damages. Holborn monitors the litigious US landscape, tracking the latest judicial rulings and regional and local hotspots.

Contract wordings are continuously evolving to stay on top of emerging risks such as cyber, intellectual property, and labor laws. Working together, we ensure that the proper coverage and limits are maintained.  

Holborn’s Reinsurance Security Committee (a select group of our senior managers across multiple disciplines) meets regularly to review the financial condition of each reinsurer. Each entity is closely monitored for financial and operational performance through meetings with management, rating agency activity and news releases. Our monthly newsletters keep clients informed of any noteworthy changes. 

Holborn can provide clients with access to RiskRater®, a proprietary reinsurance pricing engine designed (but not limited) to manage portfolios of mutual insurers. RiskRater® employs a systematic approach to pricing that is consistent across client companies. Smaller companies with sparse rating histories are rated with the support of defined cohorts and compared with industry information to enable a more informed view of risk. Developed to be nimble and flexible without proprietary software installations, RiskRater® requires only a connection to a centralized database, where all data (present and historical) is stored and archived, allowing access to detailed information for year over year pricing. 

Our Vision

Our way includes giving the client peace of mind of knowing they can “shake the same hand” again and again over time, and that our team is uniquely positioned to represent their interests in the marketplace, given our in-depth knowledge of their operations, business plans and issues, nuances, history, and the way they like to receive service from us and from their reinsurers. This is how we define our “client intimacy strategy.”

Our Mission

The mission of Holborn Corporation is to provide efficient tailored risk assessment and reinsurance solutions to US insurance organizations, using markets of appropriate quality. Services include risk analytics, contract and claims management, and the maintenance of trading relationships with high-quality reinsurance markets throughout the world.