Broker to Marsh Cast-Offs: ‘Look No Further’

Marsh doesn’t want them but Jerry Alderman and Mike Neville will gladly take them.

Marsh Chief Executive Officer Michael Cherkaksy recently announced his firm’s intention to stop writing certain large and middle market accounts as part of its plan to rebound following contingent fee and bid rigging investigations. “As part of its new business model, Marsh will no longer service thousands of small commercial accounts around the world and will walk away from unprofitable large accounts as well,” Cherkaksy said during a recent analysts conference call. Cherkaksy even said Marsh would help these unwanted accounts find another broker.

“Look no further,” Alderman and Neville replied in a quick-response quarter-page advertisement that ran in The Boston Globe business section on March 7. Alderman and Neville are principals at InterNational Insurance Group Ltd., a privately held commercial insurance brokerage firm based in Boston. Their ad invited Marsh to send those unwanted accounts their way and encouraged insureds to give IIG a try.

“We’ve gotten tons of calls,” Alderman told Insurance Journal, including one from a manager for one of the big three brokerages. The lesser-known IIG specializes in larger middle market risks, from $1 million and up, and has the expertise to handle all sorts of complex cases.

“We’re in the market to compete with Aon, Willis and Marsh,” Alderman said. “Our business model is built to provide exemplary service and innovative insurance solutions to every customer, big or small,” said the firm’s advertisement, which included a photo of the two brokers, smiling. The firm’s Web site is www.iig.biz.