Insurance Office of America Broker Lloyd Humphrey Recognized as a 2022 Transportation Power Broker

Topics: Transportation

Lloyd Humphrey, Senior Vice President & Managing Partner, Insurance Office of America

Lloyd Humphrey, CIC, CLCS
Senior Vice President & Managing Partner
Insurance Office of America, Cherry Hill, N..J.

In today’s transportation arena, insurance coverage goes beyond covering vehicles.

“You have auto insurance, general liability insurance, D&O insurance, cybersecurity insurance — you have all these kinds of coverages,” a chief financial officer of a transportation service said, digesting the breadth of coverage knowledge held by his trusted broker, Lloyd Humphrey.

“It’s just mind boggling to keep up with all the premiums, what the coverages are, what the deductibles are… what the hidden clauses are — the things that they don’t cover,” he said. “And Lloyd is an encyclopedia of insurance.”

“He’s had our back in uncovering savings,” the client said, by examining “every clause of every coverage.”

“When you have that kind of a knowledge base on your side, it’s very comforting.”

Humphrey was able to get the client’s insurance carrier to agree to change the class codes on numerous vehicles based on the type of work performed and miles traveled — a process that saved the client over $150,000 in auto premiums.
By urging the carrier to leverage a minimally used endorsement on the auto coverage, he also secured a premium reduction for the client on units that had become inoperable during the pandemic.

“He’s helped negotiate us discounts that we wouldn’t have had otherwise,” the client confirmed.

All 2022 Power Broker Winners

2022 Transportation 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 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.

More from Risk & Insurance

More from Risk & Insurance