Marsh Broker Erin Yamada Recognized as a 2019 Renewable Energy Power Broker
Erin Yamada, Assistant Vice President, Marsh
A client of Erin Yamada’s was facing a very difficult property renewal. “We still have potential claims relating to 2016 storms that are in question,” said the company’s chief risk officer. “We believe these are covered claims, but the carriers are claiming that these are not due to multiple occurrences.”
Many carriers, including some that wouldn’t be affected if the claims were covered, had priced those claims into their premium, despite being unpaid.
“We have similar situations from 2017 and 2018 fires, where there may be claims but these have not been finalized,” the risk officer continued. “In addition, many of the carriers have also participated on our liability program that has experienced losses in recent years.
“This all required a great deal of sensitive negotiations, focusing carriers on relevant facts and taking emotion out of the pricing. Erin was a key member of the team that helped us to achieve a result that we are happy with.”
Yamada is an equally vital part of the team for her smaller clients.
“I am a one-person shop,” said the risk manager for a solar company. “Erin really stepped up for me this year, and I value that highly because my expertise is in project finance, not insurance.
“This was particularly important in 2018 because there was a constriction in the sector as a result of CAT losses. Erin dug into our program and demonstrated to the market that there were reasonable maximums on our losses. She also broke down our limits into tranches that the market was comfortable with.”
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.