We salute the innovative thinkers who have shaped our financial markets. The life insurance market has always presented opportunities for innovators. The recent market changes, such as the development of the life settlement market and the evolution of premium finance, have sparked both controversy and new possibilities for market participants. Our business for 30 years has been to identify the most attractive opportunities in the ever-changing marketplace, and to develop programs and transactions that produce value. To advance these efforts, we bring together a group of companies that reflect our vision and a management team with a variety of perspectives including executives drawn from life insurance brokerage, product distribution, law, accounting, finance and life insurance regulation among other fields. This team working with our talent pool of professional staff enables us to develop programs that are economically sound and well-positioned in the market.
As movers in the marketplace, we believe it is critical to our business and the health of the life insurance industry in general to promote best practices and eliminate transactions that depend on nondisclosure or illegal conduct. Such abuses create an environment where market participants offering legitimate products find it difficult to do business. We will continue to take a leadership role in safeguarding the market’s integrity and in promoting transactions that provide value.
I invite you to tour our website and to contact us.
Mark E. Ross
Mark Ross Group Innovates
Virtual Office Format Grouping Execs and Staffin Local Sites
Effecting Seamless Cross Country Link Ups
21st century company format greatly streamlines costs, adds efficiencies, as group prepares to introduce new products, services.
(New York, NY, May 1 2008) Taking a page from the playbooks of leading Silicon Valley and other technologically sophisticated firms, the Mark Ross Group of Companies today completes a dramatic change in its operational format moving fully to a hybrid traditional/virtual operating environment. MRG situated its executives in satellite offices, supported by local and independent staff across the country, having successfully linked all corporate activities to the New York communications center. The new format position MRG uniquely among competitors and will yield savings, efficiencies and other dividends immediately.
According to Mark E. Ross, Chairman of the Group, the move is logical for its savings in time and expense and for other anticipated efficiencies that will be realized day one: "We follow so many smart companies who have opted out of costly office space and have, instead, concentrated staff efforts narrowly and intensely with no worry over costly, times taking commuting, and the like. Our midtown Park Avenue offices were among the costliest in the USA and brought little concrete benefit to our insureds or our brokers. The hassle of commuting-both time into the city and the incredible fuel and other costs-commanded this decision and so do considerations of staff retention, a growing clientele across the continent and the increased use of leading edge advanced technologies by our staff. MRG executives and administrative team members are excited about the opportunity to save time, increase productivity and enhance delivery for our clients and professional colleagues," he said.
Executive Vice President Col. Tom Tyrrell (USMC Ret), Chief Administrative Officer, who has managed the process since he joined the firm six months ago, stated that the transition has been smooth:" We are grateful to Jan Van Dalen and our Florida team, to Stephen Phebus, Gina Dell'Olio and Teresa Rueda and our New York team for setting this up electronically via the virtual office model, in addition to RosSource, the firm's newly created information "superhighway". We will launch two new financial products in the third quarter and are sure we will be better than ready for the anticipated onslaught of new premium finance and settlement related business."
For information contact Mr. Steve Acunto at 914 966 3180 ext 110.
MARK ROSS GROUP OF COMPANIES ANNOUNCES FORMATION
OF
ROSS RESOLUTION CAPITAL MANAGEMENT, LLC.
New York and San Diego, CA Sept. 17, 2007 - Mark E. Ross, Chairman, Mark Ross Group of Companies, today announced the formation of Ross Resolution Capital Management, LLC. The new company will supervise the activities of Ross Resolution Capital Partners I, LLC, a fund that assists claimants and other litigants, notably senior citizens, in procedures to recover funds illegally or improperly exacted by insurance entities in the life insurance, life settlement and secondary life markets. The new company with headquarters at 400 Park Avenue in New York and a management office in San Diego, California will be run by a team of legal and insurance professionals on both coasts, led by Mr. Ross. (click here to read more)
MARK ROSS & CO. FIGHTS ALLEGED
ABUSIVE PRACTICES IN PREMIUM FINANCE
Mutual Credit Corporation (MCC), a California premium finance company, made loans for hundreds of senior citizens across the country to buy life insurance. Mark Ross & Co., Inc. has sought to help these senior citizens in operating the provisions of the loan promissory note and, in certain cases, by arranging to refinance the MCC loans as they come due so that they may continue their life insurance coverage. Toni Jones, who is trustee of one of the insurance trusts that borrowed from MCC, together with Mark Ross & Co., Inc. are suing MCC and related parties for interfering with the borrower's contractual rights making it all but impossible to refinance or repay the loan and causing seniors to relinquish their policies to MCC in satisfaction of the loan. MCC may then profit by selling the policies to an investor. (click here to read more)
