Company's history rooted in founder's love of racing

K&K Insurance of Fort Wayne, Indiana, celebrates its 50th anniversary in 2002. Perseverance, dedicated employees and hard-working independent agents, along with successful "partnerings" have built K&K Insurance into one of the largest managing underwriters in the United States, with over $365 million in written premiums. Today K&K is part of the Aon Corporation, a world leader in risk management, insurance brokerage, reinsurance, and human capital consulting services.

K&K's 50-year growth story actually begins a little more than 50 years ago ... The year is 1948 and many Americans enjoy stock car racing. It is a dangerous sport, one that could leave you disabled for life. Imagine that you are racing around a dirt track and your car crashes, leaving you severely injured. You have a family-and that family depends on you. Whom do you turn to?

Nord Krauskopf, a Fort Wayne businessman with vision, founded a special risk insurance brokerage company to meet those pressing needs.

K&K-the beginning

Krauskopf was an ordinary man, a roofer by profession and a stock car racer on the weekends. He and his wife, Theodora (Teddy), often could be seen racing on the local tracks. There was no insurance to protect the racers, nor did they really think in terms of risk. Their sole goal was to win the race and have a good time. To protect those who did crash, the racing participants would all contribute equal sums of money to a benevolent fund, which covered medical bills and family needs. However, the benevolent funds could easily be depleted by a series of serious accidents.

Krauskopf recognized the need for insurance and seized the opportunity to fill it. In 1952, he put his love of car racing aside and set out to find insurance for racecar drivers. He located Charles Lenz, a broker from Lloyd's of London, and presented him with a bold idea-to build a sound and powerful business protecting racecar drivers and tracks. In the early 1950s, racecar driving was seen as a dangerous sport-a hobby for thrill-seekers-and not many insurance companies were willing to take on that risk. But the plan that Krauskopf presented to Lloyd's was simple: He would travel around the Midwest marketing coverage to many tracks, thus creating a premium pool adequate enough to cover the risks associated with the sport.