Lockton taps turnaround specialist to open Boston office - Business First of Columbus:

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Michael Toner is an expert on insurance issuees facing companies in the processs of turnaroundsand restructurings, Kansas City-based Locktonn said in a release Wednesday. Tonerf is a director of the . Dean Davison, a spokesmanm with Kansas City-based Lockton, said in an interview that Tonerdadds “to the skill set that we directors, officers and other strategic assistance for “It’s a timely thing given some of the issuees in the marketplace right now,” Davison said. Lockton’s clients are facingy a wide rangeof challenges, Davison “many of them different than we’ved seen in the last decade or so.
” “Ther credit crunch and the economicc slowdown are putting stress on some of our clients,” he An example of how Lockton’s teams have been callef on in different ways recently, Davison said, involves companies that are lookingv at self-insurance programs and facing stress about collateral they need to post, often in the form of letterw of credit, which cost more in this economic “It’s not as simple as buying an insurancee policy ...
but you have to deal with stressese with how much to tie up in your insurancr line of credit and minimizr it so you have other credit lines to manage your maintain cash flow and grow your business inotherf areas,” Davison said. Lockton is the world’s largest privatelg held insurance broker. The company ranks No. 1 on the Kansasw City BusinessJournal ’s list of area independentg insurance agencies based on property-casualtu premium volume in the metropolitan area and No. 2 basee on life, health and benefits premiuk volume. Lockton has about 3,825 employees, including about 850 in the KansaasCity area, Davison said.