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2012-08-23
cdrg+REDTEAM is very excited to introduce our newest partnership with Safety Express.

           
         
       

cdrg+REDTEAM Announces New Partnership with Safety Express

cdrg+REDTEAM is very excited to introduce our newest partnership with Safety Express.

             

           

           

 

             

           

This family owned business has been servicing the construction,
restoration,  abatement and general safety industries with safety and
remedial  products for over 26 years. In working with Safety Express,
this  partnership will open new opportunities for our members who
require  assistance in establishing a safety program for their
companies, with  the products and aid needed in order to succeed.

Safety Express has a  team of highly engaged and knowledgeable industry
experts who are  dedicated to their customers 24/7, 365 days a year.
Safety Express  provides IICRC and industry safety training, DOP and
respirator fit  testing as well as product repairs, rentals and leasing
arrangements.  With today's current generation focused on large national
Canadian based  organizations that can help offer a strategic
partnership, Safety  Express’ extensive expertise and product selection
offers our members  great benefits.

As a growing business, Safety Express will be adding  complementary products and services to its current offering in order to  become a one-stop shop for its partners. Please help us welcome Safety  Express as we prepare for new opportunities that will allow us to expand  our organization and the benefits we offer our members.

 

USI Insurance Inks Buy of TD Insurance

USI Insurance Services, which is backed by Goldman Sachs Capital Partners,
has agreed to buy TD Insurance, a unit of TD Bank. Financial terms were
not announced. TD Insurance is a bank-owned insurance agency and
brokerage firm in the U.S. that offers insurance and employee benefits
products and services. The deal, which is expected to close at the end
of September, is expected to add $58.2 million revenue to USI on an
annual basis.


PRESS RELEASE

USI Insurance Services (“USI”) has entered into a share purchase agreement
to acquire TD Insurance, Inc. (“TDI Inc.”), a wholly-owned US subsidiary
of TD Bank, N.A. TDI Inc. is one of the largest bank-owned insurance
agencies and brokerage firms in the US offering a wide range of
insurance and employee benefits products and services. This acquisition
is expected to contribute $58.2 million in revenues to USI on an annual
basis. The acquisition is expected to close by the end of September 2012
subject to, among other customary conditions, expiration or termination
of the waiting period (and any extension thereof) under the
Hart-Scott-Rodino Antitrust Improvement Act of 1976, as amended. Terms
of the transaction were not disclosed. This sale will not affect the
Canadian operations of TD Insurance.


Mike Sicard, USI’s Chairman, President and CEO, said, “We are excited to
welcome Joe Fico and the US TD Insurance team to USI. TDI Inc. has
fostered a customer-centric culture and reputation for delivering
superior, cost-effective insurance solutions. We will complement our
mutual strengths for the benefit of clients, prospects and our great
professionals, and together create a market leader with unique breadth
and depth of resources.”


“In joining forces with one of the preeminent middle-market insurance
brokerage firms in the country, our customers will not only enjoy
coordinated solutions and support at the local level, but can tap into
USI’s deep industry knowledge and competitively-priced products that
only a national firm with world-class resources can provide,” said
Joseph Fico, President and CEO, TDI Inc. “We are excited about
leveraging our combined strengths for strategic growth opportunities
that will enhance the overall experience of both our new and existing
clients.”


USI was represented by Jones Day’s Boston office and TD Bank, N.A. was represented by Bingham McCutchen.

About USI Insurance Services

Founded
in 1994, USI is a leading distributor of property and casualty
insurance and employee benefits products to businesses throughout the
United States. USI is headquartered in Briarcliff Manor, NY, and
operates out of nearly 100 offices in 26 states. USI is a portfolio
company of Goldman Sachs Capital Partners, a private equity affiliate of
Goldman Sachs & Co. Additional information about USI may be found
at www.usi.biz.
 

 

Federal Government Funds Flood Prevention Measures
2012-08-17

A new national program designed to reduce the impact of natural disasters
is providing money to provinces that invest in flood-mitigation
strategies.


Manitoba,Saskatchewan and Quebec will initially receive funding from the
program, which is a three-year, $99.2-million commitment from the
federal government first announced in the spring budget.


“Following the unprecedented flooding in the spring and summer of 2011, our
government committed in the economic action plan 2012 to support the
proactive steps taken by provinces to mitigate expected flood damages,
through the contribution program,” says federal public safety minister
Vic Toews.


Toews says the three provinces will be reimbursed for half the cost of flood
prevention measures they took last year in advance of severe flooding
that forced thousands of people from their homes. Funded on a 50-50
basis with provinces, the federal program applies to dikes, culverts,
flood-plain mapping and risk assessments.


“Mitigation is the most effective way to protect lives, property and the
environment, and reduce the economic and societal costs of disasters,”
says Toews. “These are the measures that are taken before an emergency
happens.”


In 2011, spring floods occurred in Manitoba, Saskatchewan, Quebec,
Alberta, British Columbia, Ontario and New Brunswick. Flooding in
Thunder Bay and Montreal earlier this spring resulted in insured damage
of $200 million.

Canadian Underwriter