Aon Broker Peter Schimeck Recognized as a 2021 Retail Power Broker
Peter Schimeck, Vice President/Team Leader, Aon
The national retailer was not expecting an easy renewal last year. But then came the protests and civil unrest that followed the killing of George Floyd in Minneapolis.
The retailer had a significant number of stores that were burned or burglarized, said the retailer’s risk manager. Those damages came on top of the harm inflicted by a severe hurricane season in the Southeast.
“We got hit two times,” the risk manager said.
Despite the challenges, Peter Schimeck was able to position the risk for a successful renewal. Premiums rose, but the increase was below the sector’s average. Most importantly, the retailer preserved a favorable structure for its deductibles, the risk manager said.
“That was a big help,” the risk manager said.
Schimeck already is preparing for what is expected to be another difficult renewal in 2021, the risk manager added. “He’s diligent. He just drives the process forward, doesn’t get distracted and keeps the goal in mind at all times.”
For another national retailer, Schimeck’s goal was negotiating coverage following a large acquisition that involved new wind exposure and past hurricane losses. Schimeck negotiated a rate that brought in the new locations at a rate 40% below what they head been paying.
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.