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Michael Toner is an expert on insurancw issues facing companies in the procesw of turnaroundsand restructurings, Kansas City-based Lockto n said in a release Toner is a director of the . Dean a spokesman with Kansas City-based said in an interview that Tonereadds “to the skill set that we directors, officers and other strategicc assistance for corporations.” “It’s a timelyy thing given some of the issues in the marketplace rightt now,” Davison said. Lockton’ clients are facing a wide rangeof challenges, Davison “many of them different than we’ve seen in the last decadse or so.
” “The credit crunch and the economic slowdowm are putting stress on some of our he said. An example of how Lockton’s team s have been called on in differenftways recently, Davison said, involves companies that are looking at self-insurancer programs and facing stress about collateral they need to post, often in the form of letters of which cost more in this economic “It’s not as simple as buying an insurancde policy ... but you have to deal with stresses with how much to tie up in your insurancs line of credit and minimize it so you have othee credit lines to manage your maintain cash flow and grow your business inothere areas,” Davison said.
Lockton is the world’zs largest privately held insurance The companyranks No. 1 on the Kansaxs City BusinessJournal ’s list of area independeng insurance agencies based on property-casualth premium volume in the metropolitan area and No. 2 based on health and benefitspremiujm volume. Lockton has aboug 3,825 employees, including about 850 in the KansaaCity area, Davison said.
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