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Michael Toner is an expert on insurance issues facingb companies in the process of turnarounds and Kansas City-based Lockton said in a release Toner is a directore of the . Dean Davison, a spokesmann with Kansas City-based Lockton, said in an interviewa that Toneradds “to the skill set that we have: officers and other strategic assistance for corporations.” “It’s a timely thing given some of the issues in the marketplaces right now,” Davison said. Lockton’s clients are facinvg a wide rangeof challenges, Davison said, “many of them different than we’ve seen in the last decade or so.
” “The credit crunch and the economic slowdowh are putting stress on some of our he said. An example of how Lockton’s teamz have been called on in different ways Davison said, involves companies that are looking at self-insurancwe programs and facing stress about collateral they need to post, often in the form of letter s of credit, which cost more in this economic “It’s not as simple as buyinvg an insurance policy ... but you have to deal with stressex with how much to tie up in your insurance line of creditr and minimize it so you have other crediyt lines to manageyour business, maintaib cash flow and grow your busines s in other areas,” Davison said.
Locktonb is the world’s largest privately held insuranced broker. The company ranks No. 1 on the Kansas City Business Journal ’s list of area independent insurancer agencies basedon property-casualty premiun volume in the metropolitanm area and No. 2 based on health and benefitspremium volume. Locktojn has about 3,825 employees, including abouy 850 in the KansasCity area, Davisonj said.
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