Aon Broker James Bennett Recognized as a 2021 Traditional Energy Power Broker
James Bennett, Vice President, Aon
“The insurance market is currently brutal, and the [traditional] energy market is especially difficult,” said one manager of insurance and risk, “with carriers exiting the sector or reducing capacity for both property and casualty.
James Bennett did an excellent job with completing our tower as well as our primary casualty program. The primary markets were pushing for increases but we were able to realize a [six-figure] premium reduction. We did move to a new carrier, but the savings were surprising considering the market conditions.”
That client’s excess tower had to be restructured and the umbrella markets were pushing for increases regardless of 10-25% of loss history.
The client was able to renew below that average, with the same coverage forms and limits.
Another client said, “one broker stood out this year. James places excess liability insurance and did an exceptional job. In a market that went crazy, he seemed to be the calm in the storm. His knowledge of coverage and underwriters allowed this year’s renewal to shine. … We saw a slight premium decrease in a hardening market.”
One director of risk and insurance said Bennett “renewed our program with minimal overall rate increase. We restructured the program by securing lower attachment of a key participant, all while actually reducing one of our key policy retentions. He also added new markets to the lower level of our excess liability program, which helped alleviate rate increases.”
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.