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MULLIS NEWBY HURST PROMOTES JOHNSON TO SENIOR VP
Johnson also will serve as director of insurance
ADDISON, Texas (March 26, 2008) - Mullis Newby Hurst, L.P., one of the largest writers of construction insurance and surety bonds in Texas, recently promoted Jan Johnson to senior vice president and director of insurance. Johnson, a 26-year veteran of the insurance industry, had served as vice president of the Addison-based Mullis Newby Hurst since 2005.
In her new position as senior vice president and director of insurance, Johnson will be responsible for supervising the insurance department and managing relationships with both clients and insurance carriers.
"Jan is a very talented, hardworking construction insurance expert who is dedicated to our culture and clients. After considering several outside candidates, we concluded she was by far the best fit to lead the MNH insurance team." Sam Mullis, President & CEO
Johnson, a Wylie resident, joined Mullis Newby Hurst as an account executive in 2002 and was promoted to vice president in 2005. Previously she worked in similar positions for several international brokerage firms as well as for an insurance company.
"Our focus and goal is to continue to be the leading provider of commercial insurance for contractors. In addition to solid connections with construction underwriters, we also have an excellent group of strong insurance professionals and we will utilize their talents and skills to provide quality service to our customers." Jan Johnson, Sr. Vice President
Mullis Newby Hurst is located at 5057 Keller Springs Road., Two Liberty Plaza, Suite 400, in Addison.
About Mullis Newby Hurst
Formed in May 2002, Addison-based Mullis Newby Hurst, LP, has experienced professionals that combine the best of construction expertise, industry understanding and business knowledge. The agency delivers comprehensive programs that match its clients' particular surety and insurance needs at competitive prices. Construction industry clients also have access to an entire team that is dedicated to providing personal service and helping them become more profitable and more competitive.
For additional information about Mullis Newby Hurst, call 972-201-0100 or visit www.mnhins.com.
PROPERTY AND CASUALTY: UNDERSTAND WHAT YOU HAVE
DALLAS (Spring, 2006) - New policy restrictions and court decisions make it more important than ever for contractors to understand their insurance coverages, according to Don Hurst, a Principal with Mullis Newby Hurst LP of Dallas. Many of the problems arise form concerns and litigation regarding building defects.
The policy changes result primarily from court decisions that have broadened insurance contracts beyond their original intent. Some of those decisions have allowed claims to develop or be incurred over longer periods of time." In the past insurers were looking at losses that developed over a three- to five-year period after the work was finished. Now they're seeing that time frame extended to five to eight years," he adds. Because insurers can't predict actions by the courts, they are often handicapped in establishing proper pricing and reserve levels for some exposures. Their alternative is to limit their exposure by restricting coverage.
Many insurers are excluding coverage from residential properties -and sometimes broadening the definition of residential to include buildings such as jails, nursing homes, college dorms or military housing. Others are restricting the language on their policies so that an "additional insured is covered only if there is some negligence on the part of the named insured, the contractor. "Project owners often are asking to be indemnified for their own sole negligence and for causes like strict liability and condition of their premises," explains Hurst.
Getting the right coverages to meet contract demands has become much harder, too, says Hurst." Contract requirements have not been amended to keep pace with changes occurring in the insurance industry, and the insurance industry has restricted the coverage so what they're providing may not be responding to the contractors' contractual needs." This has a bigger impact on small contractors and subcontractors who don't have the buying power to negotiate better terms or the resources to carefully analyze contracts for insurance requirements and possible exposures.
Some owners and general contractors are using controlled insurance programs where the sponsor (owner or GC) provides all the insurance for everyone working at the job site." The concept is that by doing this you will have less total insurance costs, fewer problems about inadequate coverage for contractors and better safety and claims control," explains Hurst. Controlled insurance programs are now being used for single projects or are one sponsor's multiple projects at different locations. In Texas, some smaller school districts have joined together under an Interlocal Participation Agreement to facilitate the use of a controlled insurance program.
"It is important that contractors understand what they're getting into with these programs. In my opinion, they are not in and of themselves either good or bad, but have to be looked at individually. Do they make sense? Do they accomplish the goals for all the people involved? Are they fair for all?" Hurst adds.
Other current property and casualty issues include builder's risk (remodeling projects must clearly define who is insuring the existing structure) and the dramatic rise in equipment theft (contractors must find better ways to protect their equipment and to mark it for identification in case it is stolen, Hurst says). Property values (for items like buildings, personal property and office computers) should be updated on a regular basis, something that's often overlooked.
Hurst says that the insurance market has softened somewhat and prices may be coming down fro many types of coverages. "But most contractors understand that their lowest insurance cost is not always the cheapest premium. Contracting is a lot more service intensive than many kinds of industries: contractors get new jobs, they need contracts reviewed, new certificates, coverage changes for equipment, etc. Getting good service is extremely important to them.
"The insurance marketplace is changing just as the construction marketplace is," adds Hurst. "It behooves contractors to continue to find ways that they can be profitable, and it behooves the insurance industry to find ways that they can support their clients and be effective in the marketplace for their clients."
MULLIS NEWBY HURST ANNOUNCES NEW EXECUTIVE
DALLAS (June 21, 2005) - Mullis Newby Hurst, LP, one of the largest writers of construction surety bonds in Texas, names Troy R. Key as senior account executive.
He will be a producer for both bonds and insurance. Key's successful surety career includes 12 years as a surety underwriter and bond manager with national insurance companies. He earned the designation Associate in Fidelity and Surety Bonding (AFSB) and has a BBA from Texas A&M University.
Key will office in Mullis Newby Hurst's Dallas location at 16600 Dallas Parkway, Suite 300.
About Mullis Newby Hurst
Formed in May 2002, Dallas-based Mullis Newby Hurst, LP, has experienced professionals that combine the best of construction expertise, industry understanding and business knowledge. They are the recipient of the 2005 QUOIN Service Provider of the Year Star Award. The agency delivers comprehensive programs that match its clients' particular surety and insurance needs at competitive prices. Construction industry clients also have access to an entire team that is dedicated to providing personal service and helping them become more profitable and more competitive. For additional information about Mullis Newby Hurst, LP, call 972-201-0100 or visit www.mnhins.com.
MULLIS NEWBY HURST WINS QUOIN 2005 INDUSTRY OSCAR AWARD
From the QUOIN newletter
From the QUOIN.ORG Web Site
 QUOIN is proud to congratulate the 2004 Summit, Star Award and Construction Safety Excellence Award winners for exceptional building and personal achievements. We also celebrate the contribution our industry makes to the quality of life enjoyed by citizens living and working in the Greater Dallas, Greater Fort Worth and East Texas communities. Winners announced at a gala affair on March 28 —our version of “Oscar Night” — recognized the contribution of owners, architects, craftsmen, suppliers, service companies and contractors including field and company leaders. Watch for photographs and movie clips from the evening to be posted in the photo gallery.
Mullis Newby Hurst won the 2005 Service Provider Of The Year Star Award at the Industry Oscar Awards Program.
About Mullis Newby Hurst
Formed in May 2002, Dallas-based Mullis Newby Hurst, LP, has experienced professionals that combine the best of construction expertise, industry understanding and business knowledge. The agency delivers comprehensive programs that match its clients' particular surety and insurance needs at competitive prices. Construction industry clients also have access to an entire team that is dedicated to providing personal service and helping them become more profitable and more competitive. For additional information about Mullis Newby Hurst, LP, call 972-201-0100 or visit www.mnhins.com.
MULLIS NEWBY HURST APPOINTS NEW ACCOUNT EXECUTIVE
DALLAS (February 1, 2005) - Mullis Newby Hurst, LP, one of the largest writers of construction insurance and surety bonds in Texas, announces the promotion of Carol Goodenough to Surety Account Executive. She offices in Mullis Newby Hurst's Dallas location at 16600 Dallas Parkway, Suite 300.
Carol Goodenough
Mullis Newby Hurst has promoted Goodenough to surety account executive, capping a 20-year career in the surety industry. In her new position, she will be responsible for managing relationships with general contractors and sub contractors in the Dallas area that need surety bid, contract and final bonds. Before joining Mullis Newby Hurst, she was an account manager for The Watson Agency for 5 years. She also worked as an assistant underwriter for Ohio Casualty for 8 years and for Fidelity and Deposit Company for five years.
About Mullis Newby Hurst
Formed in May 2002, Dallas-based Mullis Newby Hurst, LP, has experienced professionals that combine the best of construction expertise, industry understanding and business knowledge. The agency delivers comprehensive programs that match its clients' particular surety and insurance needs at competitive prices. Construction industry clients also have access to an entire team that is dedicated to providing personal service and helping them become more profitable and more competitive. For additional information about Mullis Newby Hurst, LP, call 972-201-0100 or visit www.mnhins.com.
MULLIS NEWBY HURST LP AND WATSON AGENCY, INC. MERGE
Merger creates one of the largest writers of construction surety bonds in Texas
DALLAS (November 27, 2002) - Mullis Newby Hurst, LP announces that Watson Agency, Inc. is merging its operations with the Dallas-based construction surety and insurance agency. The combined company will operate under the Mullis Newby Hurst name.
"This merger gives our company tremendous depth in construction bonding experience," said Sam J. Mullis, Jr., one of the founders of Mullis Newby Hurst. "And adding capable staff will improve our efficiency and service to our clients."
Ray Watson will become vice president of Mullis Newby Hurst. Before opening his own surety agency in 1985, Watson was a bond manager with a national surety company. He and his employees will relocate from Richardson to the Mullis Newby Hurst offices on Dallas Parkway.
"This merger makes sense because both agencies work exclusively with construction industry clients," said Ray Watson. "With Mullis Newby Hurst, clients of the Watson Agency will now have a one-stop shop for both surety bonds and insurance."
Both companies have enjoyed a reputation for developing strong relationships with some of the best construction companies in Texas that span the industry spectrum from general building and heavy highway to specialty contractors. The combined operations create one of the largest writers of construction surety bonds in Texas.
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