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Marsh Broker Jim Vetter Recognized as a 2024 Environmental Power Broker

Topics: Environmental

Jim Vetter, Managing Director, Marsh

Jim Vetter
Managing Director
Marsh, Cody, Wyo.

When an attorney brought a novel insurance request to Jim Vetter, she was not sure it was even possible to meet. She was looking for excess indemnity coverage, a policy that would kick in if the indemnified company, a third party, did not meet its obligations.

“I expected it to be a really painful process, and it was not,” the attorney said, crediting Vetter’s ability to cut to the chase when talking to underwriters.

“He’s also very good and very active at keeping people updated about market conditions,” the attorney said. Indeed, Vetter’s updates led her to ask about the excess policy in the first place, she added.

“And he did not disappoint in the least.”

AstraZeneca Pharmaceuticals called on Vetter when it sold a former manufacturing site in Newburgh, New York. The site had been remediated but still required some maintenance, said Charles Elmendorf, senior director of environmental remediation for the drugmaker.

The buyer requested numerous changes to the insurance, Elmendorf said. In some cases, Vetter said it was not possible to satisfy the requests. In others, he came up with creative work-arounds that satisfied both sides of the deal.

“It was very complicated, and we kept running back to him, but he helped us out every step of the way and finally got what we needed for that site,” Elmendorf said, noting it was a rare instance where AstraZeneca was able to completely transfer liability.

“He showed a lot of creativity and energy sticking with us to get that deal done,” Elmendorf said.

All 2024 Power Broker Winners

2024 Environmental 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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