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Marsh Broker Chad Barnes Recognized as a 2024 At-Large Power Broker

Topics: At-Large

Chad Barnes, SVP, Consulting Director, Marsh

Chad Barnes,
SVP, Consulting Director,
Marsh, Syracuse, N.Y.

Any risk improvement or savings that can be made makes a big difference for an individual or company, particularly for large retail chains such as Walmart.

That’s exactly what Chad Barnes was able to achieve when he took over as the company’s third-party global risk engineering and loss control program manager. Barnes started by analyzing the programs, then developed a comprehensive master plan for the property risk engineering and loss control programs.

In the past three years, he has closed 474 property insurer engineering recommendations, resulting in a $3.4 billion reduction in loss expectancy/risk footprint — equivalent to approximately 10% of Walmart’s global property total insurable value in 2022.

Barnes also helped the company to work through a large property fire claim to understand causative and contributing factors, as well as to evaluate its other facilities and support training to prevent such an event reoccurring. In his remit for property risk engineering, he worked with key stakeholders and Walmart insurer AIG to carry out specialized audits of key facilities and build a corporate risk engineering and loss control plan.

Additionally this year, Barnes has been implementing innovative data tools to produce an online engineering dashboard, as well as using AI to determine the company’s property program readiness to present to the markets.

Another client, for whom he developed a flood response master plan, said: “Chad’s customer service is excellent. Any issue that I raise with him is resolved immediately.

All 2024 Power Broker Winners

2024 At-Large 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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