Trade Nov-Dec Interactive - page 10

coverage gaps, and advised the
company to close those gaps by
amending its policy. This amendment
did not cost the German parent
company additional premium. When
Hurricane Sandy hit last fall, and
damaged the U.S. facility, this
amendment saved the German
company millions of dollars in
damages. Had the company not
amended its policy, the loss would
only have been covered up to
$100,000 of the damages. Mr. Wright
notes, “This type of coverage gap
happens all the time. Most of our
international work is making sure
that coverage gaps are closed.”
From Friendship
to Joint Venture
The catastrophic results of coverage
gaps motivated JKJ to create JKJ&H
International. Mr. Wright explains,
“JKJ & H came out of the friendship
I have with Dipl.-Kfm. Christian
Hörtkorn, of the German insurance
broker Dr. Friedrich E. Hörtkorn
GmbH. Hörtkorn is among the top 5
privately held German brokers. We
were complaining to each other
about the significant gaps in how
clients were being served across
borders.” Mr. Hörtkorn suggested
that the two companies exchange
employees so that each could learn
about the business practices and
local issues of the other. Daniel
Reck, Vice-President of JKJ&H, was
sent to Newtown, Pennsylvania to
work with JKJ. One of JKJ’s employ-
ees went to Germany, and both
companies benefitted. In 2008, JKJ
and Hörtkorn, each decided to invest
50% in a joint venture, JKJ&H
Both firms recognized a need to
develop a strong background in
providing solutions for managing
risks in a coordinated fashion. Both
firms are also key members of
UNiBA-Partners, one of the largest
independent international broker
networks. UNiBA-Partners has 56
members and represents more than
130 countries worldwide. Mr.
Wright is the current President of
the UNiBA-Partners. Through
UNiBA, JKJ&H has the ability to
address risk management issues for
companies that have operations
around the world.
A Global Network
Most brokerages operate within a
close proximity of their office and
they network with other local
businesses. JKJ does not see geogra-
phy as a limitation, but extends their
resources globally. JKJ has shifted to
a different model of insurance
brokering. Over the years, JKJ invest-
ed in adding expertise in every state.
As a result, JKJ now serves clients in
43 states. In fact, Mr. Wright adds
that, “We’ve written as much new
business in Texas as we have in
Pennsylvania, and the international
component is a part of that global
Both JKJ and JKJ&H also invest in
the personal touch. Mr. Wright notes,
“When we fly to Germany to meet
with a client, that company knows
they are dealing directly with both
American and German experts from
the JKJ&H team. We’ve worked very
hard to understand the way Germans
do business and to communicate
with German business people. Mr.
Reck is a critical member of our team
because he was educated in Bamberg
and Heilbronn and worked for many
years in Germany.” Mr. Reck, and his
American counterpart Bruce F.
White, understand how to handle
client accounts around the world,
and focus on international insurance
programs and compliance.”
Investing in Employees
JKJ is a fun place to work, just ask
the employees! Mr. Wright explains,
“We work very hard on behalf of our
clients, but our success derives from
helping our employees to succeed.
It's hard to be great at your job when
you're worrying about who is higher
on the organizations chart than you
are.” Mr. White adds, “We hire
talented people who are passionate
about helping our clients reach their
business goals.”
Recently, JKJ became the official
insurance broker to the Philadelphia
Eagles. JKJ was hired by the Eagles
because they wanted specific
expertise on managing their risk for
the stadium and events. As an Eagles’
partner, JKJ is organizing an event
where all the Philadelphia-based
international chambers of commerce
German American Trade Nov/Dec 2013
“Most of our
international work
is making sure that
coverage gaps
are closed.”
John Wright,
Principal of JKJ&H
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