Aon Broker Carol Stark Recognized as a 2020 Construction Power Broker
Carol Stark, Managing Director, Aon
Clients count on Carol Stark to quickly identify and quantify risks inherent in massive projects involving a multitude of stakeholders.
One multi-billion-dollar project was an offshore wind-energy generation and transmission line installation involving European suppliers and contractors working on their first U.S. project.
Facing jurisdictional, cultural, language and time zone challenges, Stark ensured all risk management issues “were thoroughly investigated, explained and addressed throughout contract negotiations and risk mitigation planning,” said the client.
Stark “played a key role in developing risk registers, a probable maximum loss analysis, a project timeline and risk matrices” and “explaining U.S. jurisdictional differences to vendors and their insurance brokers.”
The result: “We have been able to drive initial insurance cost projection down by over 40%.”
Another client engaged Stark to quantify its risk exposures on a decommissioning project involving four dams, as well as ensure compliance with its risk mitigation and liability protection requirements.
Through an extensive risk modeling exercise involving benchmarking against other dam-removal and civil works projects and 50,000 simulations of potential claim costs, Stark developed an appropriate insurance program — in two months.
With Stark’s work in hand, the client said it could clearly explain to project stakeholders which risks were insurable and how that tracked with their requirements.
What is a Power Broker?
A Risk & Insurance Power Broker® is an individual who stands out among their peers for the exceptional client work they delivered over the past year. While brokers play many key roles in the insurance industry and risk profession, a Power Broker® award recognizes problem solving, customer service and industry knowledge.
Our goal is to broadly recognize and promote outstanding risk management and customer service among the brokerage community.
Who selects the winners?
Power Brokers are selected by risk managers based on the strength of the testimonials they provide to a team of 15 Risk & Insurance editors and writers.