Aon Broker James Needham Recognized as a 2023 Traditional Energy Power Broker
James Needham, Senior U.S. Energy Casualty Broker, Aon
“James [Needham] provided us with outstanding service this year,” stated one director of insurance.
“He was able to place an additional $25 million of liability coverage for us in the London markets when were not able to find it domestically or in Bermuda. He also facilitated an increase in our liability placements in the London market by more than double. James was able to do that and help us achieve an overall savings of 11% yearover-year by adding six new London markets to our program. He was also able to help us negotiate a climate change exclusion and helped negotiate better cyber coverage.”
Increasing competition from London for the lead layer played a key role in incumbent insurers reducing their original price to a much-improved pricing option. Needham also replaced domestic Another director of risk management related that he had to “place an excess tower from the ground up in five weeks because our company was going through a spin-off and we lost access to the existing tower. James was instrumental in placing this coverage to complete that” — in time and at a competitive rate.
One key to Needham building the new tower was in the rebuilding: He changed the layer sizes to make the tower cleaner with fewer layers. At the same time. he placed the cyber coverage provision much higher in the tower. The new tower also included longer terms in order to have a more common inception date for 2023.
A Risk & Insurance Power Broker® is an individual who stands out among their peers for the exceptional client work they have 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.