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Gallagher Broker Josh Clark Recognized as a 2024 Captives Power Broker

Topics: Captives

Josh Clark, Area Vice President, Gallagher

Josh Clark, ACI
Area Vice President
Gallagher, Brentwood, Tenn.

Cash flow is the lifeblood of every business. Josh Clark’s new client was severely impaired by the deductible adjustments it had to make after its prior policy year loss funds were entirely exhausted. Clark knew he had to take immediate action.

He approached the market to see if other carriers could provide more competitive rates or structures. Having determined his client’s incumbent was the most competitive, Clark looked at the option of forming a captive.

While the captive was a feasible alternative, the collateral obligations and initial investment required made it less favorable than traditional insurance. Instead, Clark negotiated a premium reduction of almost $400,000 with the existing carrier while moving the client to a paid deductible program.

The end result was that the client transitioned to a monthly payment system, thus increasing its engagement with quarterly claims reviews.

The loss picks derived from both the traditional and captive evaluations were also instrumental in guiding the finance department in accruing funds appropriately for impending payments.

Above all, however, Clark’s forward-thinking solution has expedited the likelihood of his client adopting a captive in the foreseeable future.

The client said: “Josh is excellent to work with, as is his knowledge base. He always takes a positive approach and is sensitive to time
constraints, even during the holiday season.”

All 2024 Power Broker Winners

2024 Captive Power Broker Winners and Finalists


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.

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