Neil C. Krauter

Neil C. Krauter is an American commercial insurance industry executive whose views have been quoted in publications such as Advisen[1] and Business Insurance[2][3] and Insurance News Net[4] and he has made podcasts about industry developments.[5] He owns privately-held Krauter & Company which has nine offices in the United States in 2011.[3]

Krauter graduated from Franklin & Marshall College where he earned a B.A. in economics.[6] He worked at Lloyd's of London, then Marsh & McLennan, and then at Aon Corporation. During the 9/11 attacks, over one thousand Aon employees worked in the South Tower, but "the vast majority" of employees survived the attack, according to Market Watch.[7] At age 40, he retired and bought a wine store and spent time with his young family.[1][8]

In 2004–2005, many commercial insurance firms came under fire from New York State Attorney General Eliot Spitzer, who launched a crusade against the industry for insurance firms' presumed conflict of interest payments to brokers known as contingent commissions. Krauter came out of retirement and launched his own self-financed firm known as Krauter & Company[9] in 2004.[6] He wears "bold suspenders" and dresses like an "investment banker", according to one report, and is a "rainmaker" while former Marsh executive Peggy Stewart "focuses on detail."[1] Other executives include Mathi Fuchs, André Eichenholtz, Mark Newdick,[9] Joseph Williams,[10] Dennis Letsche,[11] and Stephen Whelan.[12] The firm added five offices over a 15 month period, including an office in Chicago,[3] and later in the state of Washington.[13] The firm handles D&O insurance, which is liability insurance payable to a firm's directors and officers if there's damage from a lawsuit for alleged wrongful acts while being in charge.[1] The firm also does property, safety and loss control insurance,[1] including "coverage for private equity firms" as well as "complex risk programs."[3][5] Competitors include National Support Center LLC, Merkon Cooperative, Tiburon Lockers, Venture Advisors, and Wendel Energy Services.[9] By 2010, there were nine offices across the United States.[8][14] In 2008, when AIG was offering steep discounts to clients, he commented in Insurance News Net that AIG was not "looking to do ridiculously stupid deals" but that cuts on the casualty business offered by AIG were around 10%.[4] In 2009, with the economic downturn and actions by state regulators, he felt clients were "reaching a point of intolerance".[2] He owns a house in Nantucket which has been profiled on Virtual Globetrotting.[14] He lives in New Jersey.

References

  1. ^ a b c d e "Advisen News: Neil Krauter Gets Back in the Game". Advisen. 2005. https://www.advisen.com/HTTPBroker?action=jsp_request&id=articleDetailsNotLogged&resource_id=33575216. Retrieved 2011-04-03. 
  2. ^ a b Sally Roberts (Feb. 24, 2009). "Brokers hear from worried AIG clients". Business Insurance. http://www.businessinsurance.com/article/20090224/NEWS/200015518. Retrieved 2011-04-03. 
  3. ^ a b c d Sally Roberts (Mar. 14, 2006). "Krauter opens Chicago office". Business Insurance. http://www.businessinsurance.com/apps/pbcs.dll/article?AID=/20060314/NEWS/20007378. Retrieved 2011-04-03. 
  4. ^ a b DOUGLAS McLEOD (November 22, 2008). "Competitors Question AIG Moves; AIG Denies Accusation It's Slashing Rates To Retain Business". insurancenewsnet.com. http://insurancenewsnet.com/article.aspx?n=1&lnid=888141114. Retrieved 2011-04-03. 
  5. ^ a b "Insights Podcast". Business Insurance. 2011-04-03. http://www.businessinsurance.com/article/99999999/PAGES/1089. Retrieved 2011-04-03. 
  6. ^ a b "Neil C. Krauter – EXECUTIVE PROFILE Krauter & Company". Bloomberg Businessweek. 2011-04-03. http://investing.businessweek.com/research/stocks/private/person.asp?personId=22582337&privcapId=21909412&previousCapId=21909412&previousTitle=Krauter%20&%20Company. Retrieved 2011-04-03. 
  7. ^ Shawn Langlois (Sept. 14, 2001). "Companies slowly add to WTC reports". Market Watch. http://www.marketwatch.com/story/update-on-dead-missing-at-world-trade-center-firms. Retrieved 2011-04-03. 
  8. ^ a b "Chairman and CEO". Google docs. March 2010. http://docs.google.com/viewer?a=v&q=cache:9HJh18PkLRUJ:www.krautergroup.com/docs/Neil%2520Krauter%2520Profiled%2520for%2520NACD%2520Directorship%2520Magazine.pdf+Neil+C.+Krauter,+chairman+and+CEO+of+broker+The+Krauter+Group+in+New+York,+said+many+clients+are+losing+patience+with+the+troubled+insurer.&hl=en&gl=us&pid=bl&srcid=ADGEESgY1SIsbZRIyYLtlrXO4v02wh1eblh1EItevjHk03hA0qMhAtmjMON83L_HMb7GQo9gO589NaXngfz2pma2AomnBvwguM4zQ1mj6u-0oSrw_1xrzI8jefyg7sv4Vsfwq1xgq441&sig=AHIEtbTu4es7-ghPiYjvOkFPA5RhUpN2Rw. Retrieved 2011-04-03. "After graduating from college early and going to work at Lloyd’s of London, Neil Krauter started working at Marsh & McLellan Companies." 
  9. ^ a b c "Krauter & Company". Bloomberg Businessweek. 2011-04-03. http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=21909412. Retrieved 2011-04-03. 
  10. ^ Staff Writer (December-09, 1996). "A&A Appoints Two Execs To Posts In Minneapolis Region". Property Casualty 360. http://www.propertycasualty360.com/1996/12/09/aa-appoints-two-execs-to-posts-in-minneapolis-regi. Retrieved 2011-04-03. 
  11. ^ "People and Places". Insurance Journal. October 23, 2006. http://www.insurancejournal.com/magazines/mag-people/2006/10/23/74055.htm. Retrieved 2011-04-03. 
  12. ^ "Comings & Goings". Business Insurance'. 2011-04-03. http://www.businessinsurance.com/section/comings-and-goings?p=Stephen%20Whelan&date=20100408. Retrieved 2011-04-03. 
  13. ^ "Market Moves". Business Insurance. June 2, 2008. http://www.businessinsurance.com/article/20080601/ISSUE01/100025055. Retrieved 2011-04-03. 
  14. ^ a b "Neil C. Krauter's House". Virtual Globetrotting. 2011-04-03. http://virtualglobetrotting.com/map/neil-c-krauters-house/. Retrieved 2011-04-03. 

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