Russell Bond & Co., Inc.

2009 Year in Review

Kurt C. Bingeman, President

Sixty years ago, after many years and roles with insurers and other agencies, Russell Bond ventured out to start his own retail agency. By 1952, he found most of his time was spent helping other retail agencies place business. He and his wife Marjorie chose to change their focus and act exclusively as wholesalers. Mr. Bond prided himself in being a problem solver, rather than merely acting as a conduit to markets the retail agent could not access directly.

I joined the firm in 1972 and completed the purchase of the company in 1983. As I plan for succession, my vision is to keep the legacy intact and we have established an ESOP. Although I plan on being involved for many more years, the ESOP has allowed me to begin selling the company to the next generation of owners, our employees.

2010 is our 60th Anniversary
and I extend my sincerest thanks to all the retail brokers, insurance markets, reinsurers and other service providers who have worked with us over the years. I believe our continued growth in these uncertain times is a testament to Mr. Bond’s philosophy that we proudly continue to this day.

Our staff has grown to 49 who work from three offices. Our technology also allows several others to work from home. We regularly access over 75 markets, writing admitted business in 36 states and E&S in 25 (DC and FL are now available. SEE MAP). We are a full service wholesaler offering traditional E&S business under underwriting authorities, on a brokerage basis, as well as access to a number of standard lines admitted markets.

Our Team structure assures that you are dealing with someone well versed in the coverage, options, markets and procedures needed to help you place the account.  It worked this year with revenue from operations up 20% this year!

We charge additional fees ONLY when necessary and usually at a rate lower than most competitors. Our in-house financing arm Access Funding LLC helps you remain competitive and can speed the binding process. Our Click A Quote/Cert has captured the imagination of our clients, many of whom like the 24 / 7 access to quoting some 40 coverages in 10 states, plus the ability to generate Certificates online.

Our goal is to earn your business. We are not just looking for submissions, but rather seeking to understand your plan and show you how our staff and markets can simplify the marketing, placement and handling of your business.

I am pleased to announce two well-deserved promotions. Derek Bucciferro has been promoted to Senior Underwriter. In the 10 years, Derek has been with Russell Bond he took responsibility for Transportation and Workers Compensation Products and through his knowledge and respect earned with the Markets, has developed one of Russell Bond’s fastest growing and largest teams. Margie Arnold has been promoted to Assistant Vice President- Controller. Margie’s vast insurance knowledge, as well as her long tenure with us has made a difference in our Accounting department being able to keep up with technology and the continued growth. I would also like to announce that Kim Thome, Claim Administrator has completed the Associate in Claims (AIC)  Congratulations as well to Robin Stadlmeir, who has completed her BS in Accounting/Business Administration from Hilbert College.

 
Kurt C. Bingeman CPCU, ASLI, RPLU, CIW
President

 
866 Ellicott Square Bldg.  |  295 Main Street.  |  Buffalo  |  NY  |  14203
1670 Whitehorse - Hamilton Square Road  |  Hamilton  |  NJ  |  08690
233 College Highway  |  Southampton  |  MA  |  01073
800.333.7226  |  www.RussellBond.com  |  Fax: 800.677.6779
Trusted Since 1950