Aon Broker Max West Recognized as a 2019 Environmental Power Broker
Max West, Senior Vice President, Aon
The emergent theme in the environmental category this year was brokers devising innovative approaches to provide pollution liability coverage to unlock redevelopment for industrial sites that have long languished because of legacy contamination.
One client of Max West’s had three such projects, all of which involved major industrial companies selling sites with known issues.
“Max helped us place pollution coverage as we assumed all liability, including toxic tort,” said one CEO. “The coverage met the requirements of the developers and the backers. It was very complicated, because our plan was to redevelop the site fully from demolition of the existing plant to subsurface remediation.”
At another site, waste ponds had to be drained and capped on a site of more than 1,400 acres. “Max placed the pollution liability and also excess indemnity,” said the CEO.
Another client gave similar testimony: “We had a very complex transaction in which a piece of industrial property was being sold,” said one attorney.
“That required indemnification and coverage for known conditions. The seller retained some and the buyer accepted some. We, the agents, also needed protection in case the indemnitors did not fulfill their obligation. Max made it all happen.”
In a third deal, the sellers were a financial company not well-versed in environmental law or science. “I did not know the lender, and I did not know the seller,” said a partner at the client. “Max saved us and the seller money and closed the deal.”
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.