Aon Broker Kate Simons Delmedico Recognized as a 2019 Real Estate Power Broker
Kate Simons Delmedico, Property Broking Leader, Aon
If adding value for clients is what brokers must aim for, Kate Simons Delmedico did more than enough to earn a Power Broker® award this year. Delmedico assisted a large retail group by filling the gaps of a property insurance program at the eleventh hour, ensuring that a big loan deal was closed.
The loans amounted to several hundred million dollars, borrowed against a group of properties owned by the client. According to the firm’s risk manager, the operation had hit a snag when the lender concluded the master property insurance policy did not match its own insurance requirements.
“Probably because of her reputation in the market, and because Kate is so good dealing with people, she was able to get a Bermuda-based carrier to fill the gaps of our overall program, and the deal went through,” he said. “And it took her barely a week to get it done.”
Delmedico was also praised by the risk manager of an investment advisory firm for obtaining better rates for CAT-exposed policies than originally proposed by carriers. In January 2018, underwriters asked for a 50-percent increase to renew property insurance for several Florida locations. The demand shocked the company, as the properties had been barely affected by the hurricanes of 2017, and loss ratios were kept below 30 percent.
“Kate then engaged with carriers, and by February, we had slashed the rate hike to 15 percent. At the renewal, in April, it had fallen to single digits,” the risk manager said. “It was a remarkable job.”
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.