New division is latest in Applied Underwriters’ continued expansion and growth engaging top professionals seeking to realize career and personal goals
OMAHA, Neb., July 27, 2022 /PRNewswire/ — Mr. Steve Menzies, Chairman, Applied Underwriters, today announced the formation of Applied Entertainment & Sports, a new division of the Company that will consolidate existing business and add substantial new business in an innovative and aggressively postured entertainment and sports unit headquartered in Los Angeles with a New York satellite office. The enterprise’s debut follows several recent acquisitions and commercial business introductions that have marked Applied Underwriters’ dramatic growth, according to Mr. Menzies, who noted: “We are on track with our plans and have been especially fortunate in accommodating the vision and blueprints of top talent attracted to move to Applied in their chosen specialty markets. Our new Entertainment & Sports leadership team offers real testimony to our openness to great ideas and thinkers, and to our approach for engaging expert talent.”
According to Mr. Jamie Sahara, President, Applied Underwriters, the division will be led by two accomplished sector leaders with Mr. Jerid Schmickle serving as CEO. Mr. Schmickle previously was President of Reel Media Insurance Services, served as Founding Managing Director of Alive Risk and was a Senior Director at Allianz / Fireman’s Fund Global Entertainment. He will be joined by seasoned industry veteran, Mr. Tim Troester, who will serve as COO. Mr. Troester was formerly EVP at Reel Media and Senior Director at Alive Risk before which he held executive positions at One Beacon and Nationwide. Messrs. Schmickle and Troester co-founded Alive Risk in 2011 which, together with NAS Insurance, one of Lloyd’s largest cover holders, became a prominent MGA in the entertainment space.
Mr. Sahara further commented that the new enterprise possesses a kind of “star is born” effect, as it becomes, almost immediately, a top underwriting operation in the entertainment and related areas: “We move right up to the top of the standings with our team. We will capitalize meaningfully on the opportunities here, especially as we further build-out the team and communicate its unique, proven strengths. We are very optimistic and ready to be center stage.”
The prospect of forming a “dream team” to realize his goals in the sector was among the incentives that drew Mr. Schmickle to Applied Underwriters: “We are actively hiring right now and will assemble an additional dozen or so professionals—the best in the field—to give us added depth in product and program development and high recognition among the clientele. To say that this opportunity is exciting would be an understatement. I was drawn to Applied largely as a result of their intellectual grasp of the business and their willingness to protract a successful trajectory.”
Mr. Schmickle indicated that the division will write on both an E&S and admitted basis to provide GL, excess/umbrella, professional, workers’ compensation, contingency (cancellation, non-appearance, prize indemnity and weather), inland marine (floaters for instruments and jewelry) and excess coverage for film and TV events. Mr. Schmickle concluded that Applied Entertainment & Sports expects to introduce new programs and product availabilities over the next several quarters.
For further information contact: Ryan Gerding, Public Relations, at +1 (913) 602-8531 or at [email protected].
About Applied Underwriters (www.auw.com)
Applied Underwriters® is a global risk services firm that helps businesses and people manage uncertainty through its business services, insurance and reinsurance solutions. As a company, Applied Underwriters has been distinguished by its innovative approaches to client care and by its strong financial strength. Applied Underwriters operates widely throughout the US, UK, EU and Middle East. Its operational headquarters is located in Omaha, Nebraska.
SOURCE Applied Underwriters