Neil C. Krauter
Neil C. Krauter | |
|---|---|
| Born | February 18, 1958 |
| Education | Franklin & Marshall College |
| Occupation | Insurance executive |
| Known for | Owns the insurance broker Krauter & Company |
| Spouse |
Leslie Ann Moraller (m. 1983) |
Neil Clark Krauter (born 1958) is an American commercial insurance industry executive who is the founder of Krauter & Company.[2][3]
Early life and education
[edit]Krauter was born in 1958. He earned a B.A. in economics from Franklin & Marshall College, where he played lacrosse[4][5]
Career
[edit]Krauter worked at Lloyd's of London, then Marsh & McLennan, and then at Aon Corporation.[6] During the 9/11 attacks, over one thousand Aon employees worked in the South Tower, but "the vast majority" of employees survived the attack, according to MarketWatch.[7] At age 40, he retired and bought a wine store and spent time with his young family.[8][9]
In 2004–2005, many commercial insurance firms came under fire from New York State Attorney General Eliot Spitzer, who launched a crusade against the industry for insurance firms' presumed conflict of interest payments to brokers known as contingent commissions. Krauter came out of retirement and launched his own self-financed firm known as Krauter & Company[10] in 2004.[5] He wears "bold suspenders" and dresses like an "investment banker", according to one report, and is a "rainmaker" while former Marsh executive Peggy Stewart "focuses on detail."[11] The firm added nine offices in 11 years, including an office in Houston,[12] Chicago,[13] and Los Angeles.[14]
The firm handles D&O insurance, which is liability insurance payable to a firm's directors and officers if there's damage from a lawsuit for alleged wrongful acts while being in charge.[11] The firm also does property, safety and loss control insurance,[11] including "coverage for private equity firms" as well as "complex risk programs."[13][3] Competitors include National Support Center LLC, Merkon Cooperative, Tiburon Lockers, Venture Advisors, and Wendel Energy Services.[10] By 2010, there were nine offices across the United States.[9][15] In 2008, when AIG was offering steep discounts to clients, he commented in Insurance News Net that AIG was not "looking to do ridiculously stupid deals" but that cuts on the casualty business offered by AIG were around 10%.[16] In 2009, with the economic downturn and actions by state regulators, he felt clients were "reaching a point of intolerance".[16]
In 2014, Krauter & Company earned a spot as one of Inc. Magazine's 5000 fastest-growing private companies in America.[17]
In July 2014, Krauter launched the networking group, Private Equity Principal Group (PEPG)[18] which has currently over 130 members.
Personal life
[edit]Krauter lives in Nantucket and Montclair, New Jersey, and has been profiled on VirtualGlobetrotting.com.[19]
References
[edit]- ^ https://www.nytimes.com/1983/10/23/style/leslie-ann-moraller-wed-to-neil-krauter-in-jersey.html
- ^ Sally Roberts (Feb 24, 2009). "Brokers hear from worried AIG clients". Business Insurance. Retrieved 2011-04-03.
- ^ a b "Insights Podcast". Business Insurance. 2011-04-03. Retrieved 2011-04-03.
- ^ "Neil Krauter - Men's Lacrosse". Marist College Athletics. Retrieved 2022-10-27.
- ^ a b "Neil C. Krauter – EXECUTIVE PROFILE Krauter & Company". Bloomberg Businessweek. 2011-04-03. Archived from the original on October 11, 2012. Retrieved 2011-04-03.
- ^ "Leslie Ann Moraller and Neil C. Krauter to Marry". The New York Times. April 24, 1983.
- ^ Shawn Langlois (Sep 14, 2001). "Companies slowly add to WTC reports". MarketWatch. Retrieved 2011-04-03.
- ^ "Advisen News: Neil Krauter Gets Back in the Game". www.advisen.com. Retrieved 2022-10-27.
- ^ a b "Chairman and CEO". Google docs. March 2010. Retrieved 2011-04-03.
After graduating from college early and going to work at Lloyd's of London, Neil Krauter started working at Marsh & McLellan Companies.
- ^ a b "Krauter & Company". Bloomberg Businessweek. 2011-04-03. Archived from the original on March 2, 2009. Retrieved 2011-04-03.
- ^ a b c "Advisen News: Neil Krauter Gets Back in the Game". Advisen. 2005. Retrieved 2011-04-03.
- ^ "Krauter & Company Brings Brokerage Services to Texas". www.insurancejournal.com. Retrieved 2016-02-24.
- ^ a b Sally Roberts (Mar 14, 2006). "Krauter opens Chicago office". Business Insurance. Retrieved 2011-04-03.
- ^ "Los Angeles Opening". February 10, 2016. Retrieved 2016-02-10.
- ^ "Neil C. Krauter's House". Virtual Globetrotting. 2011-04-03. Retrieved 2011-04-03.
- ^ a b DOUGLAS McLEOD (November 22, 2008). "Competitors Question AIG Moves; AIG Denies Accusation It's Slashing Rates To Retain Business". insurancenewsnet.com. Archived from the original on June 21, 2014. Retrieved 2011-04-03.
- ^ "Krauter & Company: Number 4956 on the 2014 Inc. 5000". Inc.com. Retrieved 2016-02-24.
- ^ "New Professional Association for Private Equity Professionals Launches". MarketWatch. Retrieved 2016-02-24.
- ^ "Neil C. Krauter's House in Nantucket, MA". Virtual Globetrotting. 2010-11-12. Retrieved 2022-10-27.