Who is Aldrich & Cox, Inc.?
Aldrich & Cox was founded in 1951 by Herbert C. Cox and Harry J. Aldrich as a partnership. Harry J. Aldrich had been an officer of Spencer Kellogg & Sons, Inc., responsible for insurance and accident prevention. Herbert C. Cox had been associated with insurance brokerage firms in New York City for 15 years where he served as sales and account executive and worked in insurance engineering.
A&C was incorporated in 1963 and Herbert C. Cox served as president until 1987 at which time he became Chairman of the Board. In 1987, an ownership realignment began when Charles H. Cox became President and James B. Hood, Jr. became Executive Vice President and Secretary. Mr. Hood retired in 2014, and still provides counsel to the firm.
In 2013, charting the course for future service to its clients, A&C merged with Crain Langner & Co., an independent risk management consulting firm founded in 1939 and headquartered outside of Cleveland, OH. Crain Langner is the parent company of AC. Many of our clients, having benefited from our independent risk management and insurance consulting services, sought similar, independent services with respect to their Employee Benefit programs. Seeing the potential for expanding our business and providing our clients with a service they desired, we began to offer more Employee Benefit Consulting services in 1981 and have served a wide range of clients in that area since then.
In 1992, A&C took steps to expand its public entity risk management practice by acquiring another independent, risk management consulting firm, Holfoth Risk Management, Inc. HRM was founded in 1978 by Ernest A. Holfoth and specialized in the governmental sector having a client base consisting of numerous towns, villages and school districts. A&C and Crain, Langner serve dozens of diverse public entities including cities, towns, counties, park districts, sewer and solid waste districts, utilities, schools and universities, and bridge and tollway authorities.
A&C and Crain, Langner provide independent, fee-based Risk Management, Insurance and Employee Benefit Consulting services to a wide range of clientele. Together our clients include publicly traded and closely held corporation, healthcare organizations, private equity, family offices, high net worth families, financial institutions, start-ups, software companies, contractors and developers, chemical companies and manufacturers of kinds shapes and sizes. Like our parent company, A&C is completely independent and has no ties with any agents, brokers or insurance companies. We do not sell insurance. We help design and manage or oversee, risk management and insurance programs for our clients. We are viewed as a valuable resource to our clients when it comes to their risk management and insurance programs. We are members of the Society of Risk Management Consultants, a society dedicated to the furtherance of true, independent Risk Management consulting.
We presently serve clients with home offices, branches, divisions or subsidiaries in virtually every state and in numerous foreign countries all of whom are served from our offices in New York and Ohio. Since we do not sell insurance and are not affiliated with anyone who does, our recommendations are made solely with our clients' best interests in mind. Commission income from the sale of insurance or the potential loss thereof can easily cloud the issues concerning the best way to treat specific loss exposures recommendations concerning what exposures should be insured, what insurers should be used, what objective retention levels should be considered, or what broker services should be rendered can only be made by an independent consultant.
At Aldrich & Cox, we focus on the needs of our clients and design our services to meet those needs. Beyond that, we add value. That added value comes from our professional staff, our knowledge, our experience and our commitment to continually improve our skills. We are proud of our history and excited about our future.