Marsh Broker Jennifer Hustwitt Recognized as a 2019 Finance Power Broker
Jennifer Hustwitt, Vice President, Marsh
One of Jennifer Hustwitt’s clients, KNØX Industries Inc., is an institutional-grade security platform for the storage of digital assets, which has developed proprietary hardware and software to establish new standards of security for cryptocurrency holdings.
Throughout much of last year, the specie insurance market at Lloyd’s has started to underwrite and retain the “offline” and “physical” aspects of the storage of digital assets, but they have not been as willing to address the network security components of digital asset storage systems.
Hustwitt identified and sourced a third-party security firm to support the Lloyd’s underwriting. In addition, she facilitated a process to write new, custom insurance policy language and also secured agreement and support from management at Lloyd’s to improve the overall process underwriting of digital assets.
“Jennifer Hustwitt is an amazing broker and thought leader within the cryptocurrency insurance marketplace,” said Jerry Chien, KNØX’s managing director, head of risk. Before KNØX started working with Hustwitt, the maximum amount of insurance coverage the company was able to access was $60 million, Chien said. But with Hustwitt, KNØX has identified a pathway to as much as $1 billion in possible coverage.
“This has provided us with an incredible competitive advantage, allowing us to offer our customers the most comprehensive and cost-efficient insurance coverage in the cryptocurrency marketplace,” he said.
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.