Driver Alliant Insurance Services To End Contingent Agreements With Insurance Carriers.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Driver Alliant Insurance Services, Inc., along with its parent company, Alliant Resources Group, Inc., announced today that they will be eliminating their contingent income agreements with insurance carriers. Alliant is one of the largest U.S. insurance brokerage and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
Please [ improve this article] or discuss the issue on the talk page. distribution companies, with Driver Alliant serving as its west coast operation.
In taking this action, John Addeo, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Alliant said, "the interests of our clients come first and the possible perception that contingent commission agreements create a conflict of interest must be eliminated."
"Because our highest priority is the trust, confidence and satisfaction of our clients, we are no longer entering into or renewing contingent income agreements," said Thomas Corbett, Chairman and CEO of Driver Alliant. "Our decision to end contingent income agreements definitively responds to the growing concern and confusion surrounding such arrangements."
Addeo further noted that, "While we believe that we have conducted our business in conformity with all applicable insurance laws and regulations, Alliant has commenced an internal review of marketing practices and compensation arrangements with insurance carriers as well as internal placement procedures to insure that the interests of our clients are paramount and that our practices reflect this commitment."
About Alliant Resources Group, Inc.
Alliant is a national distributor of insurance and financial services products, reaching a broad base of middle-market clients through a growing network of operating companies operating company
A business that engages in transactions with outsiders. .
Alliant was founded by John Addeo and equity partner GTCR GTCR Glacier Travel and Crevasse Rescue Golder Rauner, LLC (Logical Link Control) See "LANs" under data link protocol.
LLC - Logical Link Control in March 2000. Alliant's business plan contemplates rapid expansion over the next several years through the continued selective acquisition of high-quality regional insurance brokerage firms that possess strong management teams and demonstrated records of growth, profitability and quality service. Strong sales management Sales Management Role and Goal
Importance of sales management is critical for any commercial organization. Expanding business in not possible without increasing sales volumes, and effective sales management goal is to organize sales team work in such a manner that ensures a as well as cross selling of insurance products are key components of Alliant's marketing strategy. Alliant's revenues for 2004 are expected to be approximately $200 million.
Alliant has completed 12 acquisitions and is aggressively pursuing additional acquisitions and strategic partnerships throughout the country to complement its existing operating companies and products. The largest of its acquisitions, Driver Alliant, has been a part of Alliant since 2001. Driver Alliant provides a full range of insurance brokerage services that focus on middle market and public entity clients.
For more information visit www.alliantresourcesgroup.com, or www.driveralliant.com.
About GTCR Golder Rauner, LLC
GTCR is a Chicago-based private equity firm currently managing in excess of $6 billion in equity and subordinated debt Subordinated Debt
A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". capital. Founded in 1981, GTCR is one of the most respected private equity firms in the country. GTCR's investment approach is to provide capital to experienced management teams to grow their business internally and through acquisition in fragmented frag·ment
1. A small part broken off or detached.
2. An incomplete or isolated portion; a bit: overheard fragments of their conversation; extant fragments of an old manuscript.
3. and consolidating industries. GTCR currently has approximately 65 portfolio company investments primarily in the business services sector of the economy.
For more information about GTCR Golder Rauner, visit www.gtcr.com.