Aon Broker Peter Schimeck Recognized as a 2019 At Large Power Broker
Peter Schimeck, Broker, Aon
Following a period of catastrophic losses, it is only natural the insurance market tries to impose rate hikes. In this situation, it is up to brokers to stand up for clients who have done their risk management job well.
Peter Schimeck, a broker at Aon in Chicago, was praised by his clients for his ability to advocate for them after the strenuous 2017 hurricane season.
“Peter and the Aon team did an amazing job in highlighting what we [needed to] do to prevent losses and to distinguish us from other insureds,” said Mark Baker, vice president of risk management at Hyatt Hotels. “He created a platform for the renewals that was very successful for us.”
Baker said that while the overall marketplace was up substantially after the Harvey, Irma and Maria hurricanes, his company achieved basically flat rates.
For its part, another client, real estate developer Transwestern, faced significant increases of property damage rates in this year’s renewals but ended up with hikes that were 50 percent lower than originally proposed after Schimeck negotiated with carriers on its behalf.
Schimeck managed to limit the rate increase of the overall program by highlighting to the market the risk management improvements implemented by the owner and by negotiating higher deductibles for flood claims for that specific facility.
“Peter did a really good job when negotiating our renewal rates,” said the risk manager.
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.