Marsh Broker Amy Dapot Recognized as a 2020 Manufacturing Power Broker
Amy Dapot, Managing Director, Marsh
Renewing one large property insurance program can a be tall task, let alone negotiating two in two weeks. Amy Dapot pulled it off despite unfavorable conditions for the integration of the programs of the Northrop Grumman Corporation and its acquisitioned company, Orbital ATK.
In June 2018, Northrop purchased Orbital ATK, a UK-based maker of rocket launching vehicles.
The company was integrated into the group, and the plan was to do the same with its property insurance program.
But as renewal deadline loomed in June 2019, the property market was in full hardening mode, and carriers were reluctant to buy into the idea of adding new exposures.
The company need to place two programs, even though the renewal deadline was just two weeks away.
“Amy went to the market and got an extension to our program from June 15th to July 1st,” said Peter Fahrenthold, corporate director of risk management and assistant treasurer, Northrop.
“We split the data, and she had to negotiate two placements in roughly 30 days.
“All that in the context of the hardening of the market, where a number of markets were reducing capacity or pulling out of the property segment, and with Lloyd’s putting on a lot of restrictions and limitations on what syndicates could write.”
In the end, Dapot successfully managed to make the placements: “The placement would have been hard enough in a soft market. It was a remarkable achievement.”
2020 Manufacturing 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.