Gallagher Broker Erik Burt Recognized as a 2019 Health Care Power Broker
Erik Burt, Area President, Gallagher
Erik Burt faced an interesting challenge: Herding independent “alpha dog” radiologists into the largest insurance purchasing group in the specialty. But he got it done and produced significant savings, said Bud Dey, EVP, The Radiology Essential Solutions Group.
Burt “drove through adversity to an improbable feat” in 2018’s hardened medical malpractice market. “Carriers believe there’s a lot of exposure they don’t know about,” Dey said. In fact, the group had not performed well since negotiations began in May. Nevertheless, “he delivered an amazing outcome.”
Burt wanted to use economies of scale for better-priced medical malpractice insurance for a physician purchasing program consisting of 300 pediatricians from a handful of pediatric groups, said Chad Fragle, senior director strategy and operations for Children’s Medical Center in Dallas.
But first, he needed buy-in from the physicians, CEOs, office managers and boards of directors.
“He’s adaptable enough to make [sure] all the stakeholders fully understood the coverages and features in different malpractice plans,” Fragle said. “He’s a strategic partner with the tactical skills [to] get things done.”
The broker has concerns about whether his small- to mid-sized clients were protected on cyber risk. Physicians didn’t know what to buy or where to buy it. Burt created a best-in-class policy form and worked with Lloyd’s on the manuscripted coverage, which is primary or excess depending upon whether a claim triggers the underlying sublimit.
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.