Aon Broker Zachary Whelan Recognized as a 2020 Pharmaceuticals Power Broker
Zachary Whelan, Vice President, Aon
In 2019, one of Zachary Whelan’s clients, a private equity-backed biotech firm, was looking to go public.
Launching an IPO is always a stressful event, but for Whelan the transition would be even more challenging, because he was tasked with building a D&O program in an unfavorable market, late in the year and with a compressed timeline — just three weeks.
The company’s leadership learned little from its previous broker about its exposures and the increased level of insurance protection they might need after going public.
Whelan had to educate the company about the risks involved with the IPO, identify their strengths and successfully sell those strengths to a market with limited capacity.
Ultimately, he was able to secure the needed limits by appealing to both U.S. and overseas markets and tweaking the retention level.
Whelan also wooed overseas markets for a client that sought more flexibility in its program. The company wasn’t happy with their incumbent carrier’s reporting and panel counsel requirements.
Whelan was able to secure similar coverage in Bermuda at the same premium and with a deductible $1 million lower than the original policy.
“It was an incredible result that our legal department was very pleased with,” the client’s risk manager said.
Clients also noted Whelan’s responsiveness. Simple things like acknowledging receipt of a request and sending regular updates go a long way toward ensuring peace of mind.
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.