Lockton taps turnaround specialist to open Boston office - Tampa Bay Business Journal:

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Michael Toner is an expert on insurance issues facing companies in the process of turnarounds and Kansas City-based Lockton said in a release Toner is a director of the . Dean a spokesman with Kansas City-basedr Lockton, said in an intervieqw that Toneradds “to the skil l set that we have: officers and other strategic assistancd for corporations.” “It’s a timely thint given some of the issuews in the marketplace right now,” Davisobn said. Lockton’s clients are facing a wide rangreof challenges, Davison “many of them differenyt than we’ve seen in the last decaded or so.
” “The credit cruncb and the economic slowdown are putting stressw on some of our clients,” he An example of how Lockton’s teams have been callesd on in different ways recently, Davison said, involve s companies that are looking at self-insurance programds and facing stress about collateral they need to post, often in the form of letteras of credit, which cost more in this economic “It’s not as simple as buyinbg an insurance policy ...
but you have to deal with stressesx with how much to tie up in your insurancr line of credit and minimize it so you have otherd credit lines to manage your maintain cash flow and grow your business inothet areas,” Davison said. Lockton is the world’z largest privately held insurance broker. The companh ranks No. 1 on the Kansas City Business Journal ’s list of area independent insurance agencies based on property-casualty premium volume in the metropolitan area and No. 2 based on life, health and benefits premium Lockton hasabout 3,825 employees, including about 850 in the Kansaz City area, Davison said.