CAC Specialty Broker John Kim Recognized as a 2023 Environmental Power Broker
John Kim, Senior Vice President, CAC Specialty
In 2022, John Kim took on two dauntingly complex projects on opposite coasts, both involving major remediation efforts.
One, a property transaction and development project in New York, came with known contaminants, both from its history of onsite operations and from upstream groundwater contamination. Both buyer and seller demanded coverage for all known contaminants, but they wanted to create complementary policies for soil and groundwater, each indemnifying the other.
Kim worked closely with engineers, attorneys and lenders to create a manuscripted policy that met these imposing requirements, enabling the deal to close.
“We are very demanding, both on timing and on coverage,” said Jeff Bray, SVP and head of global risk management, Prologis. “John makes placements turnkey. We provide the environmental information, and he takes it from there.”
The other project was a major property development on the West Coast, which occupied a site with contamination concerns that made placing coverage especially complicated.
“Because of the complexity of that project, John’s been instrumental in our dialogue with the local authorities and explaining to them how the insurance will accommodate the potential challenges,” said Shirley Forer, VP, construction and risk management, Related Companies.
“He also interfaces with our attorneys and development teams well. That’s probably one of the most complex projects from an environmental perspective, and it really highlights his abilities,” Forer said.
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.