OTTAWA, Dec. 1 2006 – Binks Insurance Brokers of Ottawa, and Globalex of Montreal announced today the formation of their joint venture agreement to provide specialty insurance brokerage services to Ottawa’s technology sector. This new venture will be known as Globalex Ottawa.
“The Ottawa Technology Community will be pleased to learn about the spin-off of our Technology Division.” says Harry Binks, President & CEO, Binks Insurance Brokers Limited. “The new firm, Globalex Risk Management (Ottawa) Inc., will focus exclusively on technology, biotechnology, and venture capital firms. Our clients will be looked after by former Binks staff and Globalex will operate out of the Binks office. The transition will be seamless.”
Neil Moloney takes the helm as CEO of Globalex Ottawa bringing with him 19 years of experience underwriting technology firms. Mark Attley, a Vice-President of Binks, will join him as a partner in the new firm. Globalex will have a global reach through its partnership with TechAssure, an international association of technology insurance brokers.
“Risk management for technology firms is different from that of main-street business,” Moloney contends. “One of the greatest challenges technology clients face today is finding a broker who actually understands what they do. Technology companies are challenged by unique exposures, requiring specific expertise and experience to manage their risk, and many operate in the international arena. Globalex and TechAssure will help us meet those challenges.”
Jacques Brouillette, President of Globalex Montreal, is excited about the opportunity presented by having a partner in Ottawa’s fast-growing tech community. Brouillette says “in addition to Globalex Montreal, we now have the ability to provide local service in Ottawa wi6th an international reach.” Globalex recently expanded into Toronto as well.
About Binks Insurance Brokers
BINKS Insurance Brokers Limited was founded in 1918. Four generations and 29 employees strong, the firm specializes in providing “Expert Guidance in a World of Risk” to businesses and individuals throughout Eastern Ontario. Our partner companies are: Binks Life and HealthRisk, Millennium CreditRisk Management Limited, and Globalex Ottawa. For further information please visit www.binks.ca
About Globalex Risk Management Inc.
GLOBALEX is a brokerage firm whose main strength is found in its advisory approach, structured by a field of experts. With its Head Office in Montreal, subsidiaries in Ottawa and Toronto, and more than 65 employees and five divisions (including biotechnology, information technology, film and entertainment, medical professionals and personal lines), Globalex is poised to serve both business and individual needs across Canada and abroad. www.globalex.com