The DeWitt Stern Group, Inc. is a privately held, New York City-based insurance brokerage and risk advisory firm. National in scope, the firm also has offices in North White Plains NY, Jersey City NJ, Chicago IL, and in two California locations: San Francisco and Glendale.
Founded in 1899 by DeWitt H. Stern, the firm is led by the founder's grandson, Jolyon F. Stern, who represents the third generation of family ownership. The firm was ranked by Business Insurance as 62d among the top 100 insurance brokers in 2008. Risk & Insurance, another insurance industry trade publication, designated four of the firm's Fine Art and Entertainment-Media specialists as Power Brokers in 2007 and 2008.
Video DeWitt Stern Group
Notable clients
DeWitt Stern offers risk management solutions to clients ranging from international corporations, banks, law firms, and classical artists to individuals in finance, government, law, accounting, entertainment, media, and art. The firm's individual clients have included: Antoinette Perry (namesake of the Tony Awards), violinist Isaac Stern, Albert Einstein, and the prominent actors Bette Davis, Jose Ferrer, and Yul Brynner.
Maps DeWitt Stern Group
Risk solutions
Examples of risk solutions include formulating cost-sensitive programs for real estate companies and providing broad insurance coverage for fine art and volatile overseas film projects. These risks can be complex and particularly hard-to-place. In fact, "the firm's entertainment practice--its flagship--provides insurance brokerage and risk management services to some of the largest, most well-known businesses in the theatrical, film, television and music industries," according to an article published in Rough Notes, an insurance industry publication.
Areas of experience
Entertainment, Film, & Media
Commercial Risk
Employee Benefits
Personal Risk Management and Family Offices
Fine Arts
Professional Corporations and Partnerships
Restaurants and Hospitality
Rental Houses
Marine and Aviation
Company milestones
- 1899--DeWitt H. Stern Co., Inc. is founded with offices at 66 Pine Street in New York City.
- 1904-1905--The firm is appointed agents for Fireman's Fund and Chubb & Son and has maintained these relationships ever since.
- 1921--DeWitt Stern takes the claims report for an "injured" Cadillac that required replacement of a mud-guard for $56.
- 1932--DeWitt A. Stern enters the family business a day after graduating from Princeton University.
- 1956--The firm pioneers insurance on collectibles especially coins
- 1960s to Present--DeWitt insures theatrical companies and the arts, placing insurance for Hair, Cats, Jesus Christ Superstar, Amadeus, and Rent, among others.
- 1974--The firm celebrates its 75th year by electing DeWitt A. Stern as chairman and Jolyon F. Stern as president.
- 1980s to Present--DeWitt Stern begins insuring musical events for the Backstreet Boys, Chicago, The Rolling Stones, and Simon & Garfunkel.
- 1990s to Present--The firm insures Fine Arts risks including private collections and public institutions like The Museum of the City of New York and The Noguchi Museum, located in the borough of Queens.
- 1991--DeWitt Stern opens an office in Los Angeles, California.
- 1994--DeWitt Stern opens an office in Jersey City, New Jersey, where its marine insurance practice resides.
- 2004 to Present--Continuing its expansion, today the firm has over 180 employees.
References
Further reading
- Jack Roberts, Feb. 2007, "2007 Power Brokers: The Standouts", Risk & Insurance[1]
- Erin Gazica, Feb. 2008, "Power Brokers 2008: The 'Total Package' Unwrapped", Risk & Insurance[2]
Source of the article : Wikipedia
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