For a hotelier that manages 1,414 hotel rooms in catastrophic wind areas, Jackie Collins was able to reduce the annual property insurance premium by more than 30 percent by moving the client into the Gallagher Hospitality Property program, which boasts some of the broadest terms available in the market.
Collins was also able to obtain a court-ordered $2.2 million attachment bond to prevent one of her client’s lessees from removing a 200-foot observation wheel from one of its properties.
Without the attachment bond, the lessee would have been able to remove the wheel, making it very difficult to require the lessee to fulfill its contractual obligations.
This bond was extremely difficult to obtain due to the high possibility of a claim being made against the bond and very tight time constraints. However, Collins was able to find a market that would take this huge risk, netting the client $1.1 million.
“Jackie Collins keeps the same hours as hoteliers — we work harder on the weekends and when people are on vacation,” said Julian MacQueen, chief executive officer of Innisfree Hotels. “We are just super pleased with her diligence and attitude.”
“We have found Jackie to be an exceptional broker,” said Richard Ball, director of associations at Portofino Island Resort. “Jackie has been responsive to our needs and she has secured insurance coverage that has been very competitive.”
“Jackie is very persistent and works very diligently to do an outstanding job,” said another hotelier client.
Rallying the Team
One of Nancy Green’s hotelier clients wanted to expand, and she anticipated that its risk management department could play a key role in supporting risk-adjusted decision-making in that process. Green and her team developed a proposal to enhance the client’s existing insurance program offerings, and introduce a “concierge” suite of specialized insurance coverages that might appeal to the owners of its various hotels.
For another hotelier client whose Cabo San Lucas resort was damaged by Hurricane Odile, Green and her team mobilized the Aon Rapid Response Team to arrive at the resort — geographically isolated by a damaged airport — before many response organizations.
Green helped the team coordinate and leverage resources, including helping to arrange for security resources to support safe travel for the team and the client. With Green’s help, the client was quickly able to manage their mitigation and recovery activity and begin preparing their claim.
“Nancy does great work, and she delivered what we needed,” the client said.
“Nancy has been the most responsive broker that we’ve had,” said another hotelier client.
“She makes sure she understands the deepest workings of your business so that she can solve your issues by involving the most appropriate people, even if that means taking the matter to the top and suggesting alternative measures that could be achieved.”
“Nancy Green has high energy, is forward thinking and has a good dose of excellent follow-through skills,” said an REIT client that owns hotels.
A True Advocate
One of Steve Leist’s clients saw his restaurant burn to the ground; a devastating incident that threatened his livelihood. Leist immediately gathered internal resources, including the Assured Neace Lukens claims department, to make sure the client had the representation he needed.
As the claim process unfolded, the carrier pushed back, as it thought that no business income or extra expense coverage was afforded. Leist pointed out language in the policy that was being misinterpreted by the carrier, as it related to the business income coverage.
Once the carrier agreed with that interpretation, Leist and the Assured Neace Lukens team engaged a forensic accountant on behalf of the client to verify that the claim payment from the carrier was the total amount that needed to be covered.
As a result, $250,000 was paid to the client, and within 10 months the client was able to relocate and reopen his restaurant.
“Steve Leist always handles our account with great professionalism,” said Sam Anderson, owner of Sam’s Food and Spirits Inc.
“Whether we had large or small claims, he has been the one call I have had to make. Steve has given us choices when it came time to renew and is always concerned with service and what we are paying in premiums.”
“Steve Leist is always attentive, always there for me when I need anything,” said Thad Holton, chief executive officer of SCAD Enterprises Inc., dba Beef O’Bradys Restaurant.
Above and Beyond Expectations
One of the most challenging productions for Lorrie McNaught was the filming of the “Point Break” remake, which was shot in nine countries by nine different companies. More than 60 boats were used, and obtaining insurance information from their owners was tough considering few had faxes or email.
McNaught was able to negotiate blanket coverage so that coverage was in place regardless of when a boat was declared. The blanket coverage also applied to aircraft exposures such as sky diving, wing suit diving and base jumping that were happening around the world.
Sergio Alfaro, president of Big South Productions, said McNaught handles numerous reality TV shows with “very complicated insurance needs.”
“When we were contemplating having 13 naked people jump out of an airplane, she advised us against it because the insurance would have been too complicated,” Alfaro said. “Every time I call her, she says ‘Oh ****, what are you wanting to do now?’ ”
“Lorrie often goes above and beyond to help accommodate last minute production requests and to clearly explain all of the best possible options for our company,” said Margaret Morales, executive production manager at Bunim Murray Productions.
“Being a non-insurance savvy person in a heavily insurance-oriented industry — feature films — Lorrie guided me through each and every different process and has been able to explain it to me in a way that I could understand and make a smart decision,” said Gregg Edler, production consultant at Alcon Entertainment.
Just Plain Terrific
One of Donald Molloy’s clients was involved in a hotel expansion for which the lender was requiring earthquake coverage up to the client’s total insurable values. Molloy engaged PML studies and other methods of evaluating true exposures in the event of a loss, and negotiated limits more in line with the actual exposure.
“Donald Molloy is one of the most knowledgeable brokers about the Native American gaming arena,” said a Native American casino client. “This is most evident based upon his valued consulting advice specific to our business issues and investment decisions.”
During insurance contract negotiations, Molloy suggested the tribe consider a number of critical points that had long-term implications on sovereign immunity status, insurance and claims, the client said.
“Consulting advice for solutions was based on looking out for the tribe’s best reputational and financial interests — as opposed to his potential financial benefits which could be derived from increased insurance premiums and/or coverage products to be sold,” the client said.
“Donald is a very knowledgeable professional,” said Ron Randazzo, director of risk management at Pechanga Resort & Casino. “He is well acquainted with his products as well as his customers. He has an extensive background not only in the insurance products and underwriting, but in claims and legal defense as well.”
“Donald Molloy’s just terrific,” said F. Tom Kieley, risk management consultant for the Agua Caliente Band of Cahuilla Indians.
Rich in Knowledge
One of Christian Ryan’s gaming clients was purchasing a new property under construction, and Ryan and his team had to quickly add the massive project under a permanent policy with little notice. They were able to add the new location for little additional cost.
Ryan, who is U.S. gaming practice leader at Marsh, helped another gaming client achieve multimillion dollar savings on its master property and casualty program, by leveraging his relationships with underwriters, rightfully positioning his client as best-in-class and using analytics to position the risk in the best light.
“Christian was receptive and responsive whenever we had an issue, and he was willing to step in if needed to get answers on issues involved with the carrier,” said Jessica Hoppe, general counsel at Genting Americas. “His knowledge in the gaming sector and experience provided deep support for our companies.”
“Christian is very rich on the technical issues, which allows me to do the job of a CFO,” said John Eder, senior vice president of finance at Seminole Gaming. “He provides solutions that help us get maximum value for our dollars.”
“Christian’s hard work delivers results that make me look great to our executive team,” said Jennifer Kikta, vice president of risk management at TIER REIT.
“He is proactive in ensuring that I meet with all stakeholders on our program,” so that they “understand our business and why our risk is the best one to take. I don’t know that many brokers would work that hard on their clients’ behalf.”