Brown & Brown Broker Jason Flaxbeard Recognized as a 2023 Captives Power Broker
Jason Flaxbeard, Alternative Risk Leader, Brown & Brown, Greenwood Village, Colo.
Problem-solving is all in a day’s work for Jason Flaxbeard.
When waste management firm Recology came to him, it was struggling to monitor the performance of the various coverages within its captive. Flaxbeard recommended looking at each one separately.
Going back 10 years, he ran a month-by-month analysis of each line to see which were profitable and which were underperforming. Then, the company was able to decide which ones it wanted to keep, expand or reduce its exposure to.
“Jason is so well connected across the industry that he seems to know everyone and always knows exactly who to go to for any issue we need help with,” said William Lyons Jr., vice president and senior director of risk management at Recology. “He also gets everything done in a timely manner and follows up to make sure that we’re happy. Above all, he’s just a highly professional and personable guy.”
For another client, Flaxbeard met with management to define the material risks affecting the enterprise. After looking at all potential risks in one-, five- and ten-year increments, he was able to develop risk financing plans for each.
Early on, Flaxbeard realized that insurance would react to only a fraction of these risks, so he advised his client to use its captive to assume as much risk as it was comfortable with.
The captive also bought reinsurance to protect its regulatory capital, and any surplus was used to develop a financing strategy that enabled development of best-in-class techniques to understand and model emerging risks.
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 have 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.