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New group focuses on serving private clients

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Dallas-based electronic insurance exchange MarketScout announced this week the creation of the Council for Insuring Private Clients.

The new organization, which is being founded in cooperation with insurers ACE Ltd., American International Group Inc. and Fireman's Fund Insurance Co., “will focus on implementing best practices and risk management techniques for insuring the personal assets of private clients,” said MarketScout in a statement announcing the new group's formation. It said that any agent or insurer with a focus on insuring high net worth private clients may join the CIPC.

“The CIPC's mission is to provide a venue where agents and insurers may collaborate on how to better serve their private clients,” said MarketScout CEO Richard Kerr in the statement. “Insuring wealthy individuals is a unique, specialty area of the insurance industry and until now, there wasn't a forum for sharing ideas and perfecting skills.”

The group has scheduled its first annual conference for April 9-10, 2013, in Dallas. According to MarketScout, the conference will provide networking and educational opportunities for agents and insurers who specialize in insuring private clients.