Acordia's Risk Finance Group Expands; Names David A. Krause Director, Environmental Insurance.Business Editors CHICAGO--(BUSINESS WIRE)--Jan. 9, 2004 Acordia, Inc., a subsidiary of Wells Fargo & Company, has named David A. Krause Director, Environmental Insurance. Under the direction of Acordia's Risk Finance Group, Krause is responsible for working closely with Acordia and Wells Fargo clients for the placement of Pollution Legal Liability (PLL PLL - phase-locked loop ), Cleanup Cost Cap (CCC CCC A very speculative grade assigned to a debt obligation by a rating agency. Such a rating indicates default or considerable doubt that interest will be paid or principal repaid. Also called Caa. ), and Secured Creditor One who holds some special monetary assurance of payment of a debt owed to him or her, such as a mortgage, collateral, or lien. and Finite environmental insurance policies involving commercial real estate transactions. Previously, Krause served as Manager of the Banking Group for the U.S. and Canada for AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group Environmental. He was responsible for the marketing and sales of Secured Creditor environmental insurance policies for commercial lenders. He worked closely with commercial and investment banks, conduits, specialty lenders, rating agencies, b-piece buyers and law firms nationwide. He was also responsible for marketing PLL, CCC and Finite coverages to the Fortune 1000 nationwide. Prior to AIG, Krause was a banker for 13 years working in commercial lending, management and business development. His most recent banking position was Vice President and Chief Loan Officer. Krause was also the Director of Marketing and Sales for an environmental engineering firm working exclusively with banks and law firms. Krause received his bachelor of science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree from Penn State University. He is also a graduate of the National Commercial Lending School, University of Oklahoma University of Oklahoma, abbreviated OU, is a coeducational public research university located in the U.S. state of Oklahoma. Founded in 1890, it existed in Oklahoma Territory near Indian Territory 17 years before the two became the state of Oklahoma. and the Central Atlantic School of Commercial Lending, Bucknell University. He holds a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State brokers and surplus lines license. "David is a great addition to Acordia's environmental capabilities," said Nabeel Tanveer, National Practice Leader, Risk Finance Group. "David's extensive experience in environmental insurance and his background in the banking industry will provide great value to Acordia and Wells Fargo clients." About Acordia Acordia, Inc., headquartered in Chicago, Ill., is the world's sixth largest insurance brokerage and the largest bank-owned insurance broker in the U.S., with 150 offices in 38 states. Its 4,500 insurance professionals place in excess of $6.5 billion of risk premiums with expertise in property, casualty, benefits, international, personal lines and life products. Acordia is a subsidiary of Wells Fargo & Company, a $391 billion diversified financial services company. Acordia is also a member of the HLA HLA human leukocyte antigens. HLA abbr. human leukocyte antigen HLA (human leuckocyte antigen) Global Network. HLA Global, a partnership between London-based Heath Lambert Group and Acordia, Inc., serves as the international arm of Acordia. HLA Global is one of the world's largest networks of insurance brokers, with independent brokers in over 90 nations across the world including Europe, Asia, Australia, the Middle East and Africa. For more information about Acordia, visit www.acordia.com or call 312.423.2531. |
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