Lockton Broker Eric Broberg Recognized as 2023 Transportation Power Broker
Eric Broberg, Senior Vice President, Unit Leader, Lockton
Digging deep to uncover and emphasize a company’s positive attributes is one way Eric Broberg helps his clients find the insurance they need to stay on the road.
A Southern California-based ready-mixer is one example of a business that was facing a difficult renewal. The company had suffered losses exceeding $1 million, and a local broker was no longer able to secure coverage.
Broberg took a holistic look at the company and crafted a new narrative that emphasized the company’s financial stability and other assets.
When he took its story to the marketplace, he attracted renewed interest from insurers that had previously not been engaged or had declined to offer terms.
Broberg also worked with the Lockton Analytics team to provide industry benchmark and proprietary data that helped the client make decisions about deductibles, limits and collateral needs. As a result, the client was able to better understand their renewal and how it compared to broader market trends. The remarketing effort achieved a 25% rate decrease on the auto renewal and a 36% reduction in overall cost of risk.
John Lenga, chief executive officer of Crenlo Engineered Cabs, has worked exclusively with Broberg for the past three years.
“Eric successfully guided us through a $50 million insurance claim, leading to a very favorable outcome,” Lenga said.
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.