USI in the News

In a new interview with Business Insurance, USI's National Property Practice Leader, Jeff Buyze, discusses the risks associated with record-high office vacancy rates in the U.S. due to a continued shift to hybrid work, along with how insurance companies are responding. During the interview, Buyze shared, “Individual insurers define and treat vacancy differently, and the time periods for how long locations can be vacant before restrictions kick in may vary from 30 to 60 days. After 60 days, restrictions typically start coming into play for certain perils. For theft, water damage, malicious mischief, vandalism, exclusions may then apply.” Read the full article.

USI’s National Construction Practice Leader and Head of Industry Verticals, Danette Beck, recently participated in a broker-led industry panel discussion hosted by Insurance Business TV examining the 2024 construction insurance market. During the event panelists discussed supply chain delays, labor shortages, and a lack of education in the sector and how these challenges will affect the overall market in the coming year. View the panel discussion.

Each year, Insurance Business America’s (IBA) “5-Star DE&I Awards” recognize leading U.S.-based insurance companies for their work to foster impactful, forward-looking diversity, equity and inclusion (DE&I) programs. For the second year in a row, USI was among only a select number of insurance organizations to receive this honor for 2024 in recognition of our ongoing efforts to build an increasingly diverse, equitable and inclusive culture at USI through our I’m With U DE&I program. Learn more.

USI Consulting Group (“USICG”), a national industry-leading, full-service retirement plan consulting and benefits administration firm, today announced the acquisition of Rochester, New York-based Burke Group (“Burke”). Founded in 1989, Burke is a regional advisory services firm specializing in retirement plan consulting and administration, actuarial services and compensation consulting. As part of the deal, USICG will not acquire Burke's compensation consulting business, and Burke will exit this business upon joining USICG. Terms of the transaction were not disclosed.

“For more than 30 years, our team has maintained a strong identity as independent, thoughtful, transparent and objective advisors,” stated Burke Group’s Managing Principal, Patrick Burke. “I am confident this new partnership with USI Consulting Group, one of the largest national specialized retirement businesses in the U.S. and a premier provider of defined contribution and defined benefit plan consulting and administration services, will further enhance the value and expertise we deliver to our clients each day.”

USI Consulting Group President and CEO, Bill Tremko added: “We are thrilled to welcome the talented professionals from Burke Group to the USICG family and look forward to expanding our retirement consulting expertise throughout the upstate New York region.”

About USI Consulting Group
USI Consulting Group is a national industry-leading, full-service retirement plan consulting and benefits administration firm that has been helping employers enable their workforce to successfully plan and invest for retirement for over 45 years. USICG’s integrated team of highly skilled professionals provides specialized expertise in delivering independent, comprehensive guidance and innovative, flexible retirement plan solutions to meet the changing needs of employers and their employees. USICG is an affiliate of both USI Securities, Inc. (a broker-dealer, Member FINRA/SIPC) and USI Advisors, Inc. (a federally registered investment adviser) and a wholly-owned subsidiary of USI Insurance Services (“USI”). To learn more, visit usicg.com or follow us on LinkedIn.

USI’s Regional Personal Risk Practice Leader, James Saunders, was recently interviewed by Insurance Business TV on the importance of personal cyber coverage. In the interview, Saunders explains how the personal risk of cyber-attacks has increased due to the lack of protections in place, making individuals and families easy targets for ID theft and phishing attacks. Saunders also touched on how artificial intelligence (AI) drives exposure, sharing, “…it is only going to allow the nefarious actors of criminal organizations to scale up further.” Listen to the full interview.

Catastrophe-exposed properties, especially wildfire accounts or coastal accounts in Florida, are still seeing some disruption, making this “a bifurcated market,” said USI’s National Property Practice Leader, Jeff Buyze, in a recent interview with Business Insurance. During the interview, Buyze shared that USI predicts catastrophe-exposed or non-catastrophe-exposed property with losses or poor risk quality will see rate increases of 15% to 30% in the first half of 2024, down from 25% to 150% increases in the second half of 2023. Read the full article.

USI’s National Practice Division Manager for Casualty and Alternative Risk Solutions, Douglas O’Brien, was recently interviewed by Business Insurance on current general liability and auto liability market conditions. On general liability, O’Brien shared, “I don’t think we’re going be in an environment of wholesale rate reductions for a while, but at least it’s promising that we’re seeing a leveling off of rate increases.” O’Brien also touched on the tough auto liability market, sharing, “For companies with 200 or more vehicles…clients are seeing rates increase at least 10% and sometimes 20% or 30%.” Read the full article.

USI’s National Aviation Practice Leader, James Van Meter, will moderate an expert panel of leading aviation insurance underwriting executives and airport claims executives at this year’s Airports Council International - North America (ACI-NA) Risk Management Conference taking place January 17-19 in Austin, TX. During the session, panelists will explore current airport claims trends, the state of the airport liability insurance market in 2024, challenges with war coverages, and how airport risk managers can be prepared to navigate these challenges. Learn more.

USI is proud to be recognized by Newsweek as One of America’s Greatest Workplaces for Diversity in 2024. Newsweek partnered with Plant-A Insights Group, a market data research firm, to score companies based on their commitment to recruiting and advancing employees of various ages, races, genders, sexual orientations, and abilities. The evaluation process includes an examination of publicly available data, interviews with HR professionals, and an anonymous online survey conducted among a diverse group of employees at companies across the United States. Participants shared insights on working environment, corporate culture, training and career progression, proactive management of a diverse workforce, and more. This recognition directly reflects USI’s ongoing commitment to the inclusive culture we are continuously innovating. Read more.

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