Gallagher Broker Ken Banks Recognized as a 2019 Education Power Broker
Ken Banks, Area Senior Vice President, Gallagher
Ken Banks has acted as Melissa Diaz’s colleague, competitor and broker for the last 12 years. When she signed on as risk services manager for the University of San Francisco, she said the transition was easy: Banks was already the university’s insurance broker.
“He does more than act as my broker, though; he’s my right-hand-man on risk,” she explained. USF was building a new residential project. However, it needed builders’ risk insurance, which was difficult to obtain due to arson in the area aimed at wood-framed residential buildings.
Diaz said it ended up as a $1.1 million policy, which “Ken didn’t see a penny of.” He was working on a flat fee, yet he still worked just as hard to obtain coverage. “Ken came in and was a huge, huge, huge save in getting us covered.”
For another client, Loyola Marymount University, there were concerns from the members of the board regarding insurance limits. Doug Moore, associate vice president and risk manager, reached out to Banks to see what could be done.
“I asked Ken for insurance options just for the board, and he found an option where they would not have to share the coverage with the rest of the university.” However, carriers were not willing to underwrite it at first. “I think they thought it might be too risky or they didn’t understand why we wanted it.”
But in the end, Banks prevailed and placed the coverage for the university. “Ken is easy-going and tolerant with his clients. He doesn’t get frustrated,” Moore 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 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.