Marsh Broker Joseph Presley Recognized as a 2021 Marine Power Broker
Joseph Presley, Vice President, Marsh
Of all the challenging circumstances that insureds face at renewal, the most difficult is an internal reorganization.
Prices for traditional energy plunged at the beginning of the pandemic, forcing producers and service companies to close facilities, spin off operations, or seek court protection.
Through these challenges, Marsh’s Joseph Presley has been there for clients.
“We had to try to achieve a regular renewal in advance of a reorganization, and then renew the program for a subsidiary on the heels of the parent-company renewal and reorg,” said one financial executive.
“Joseph had to navigate the hardening market and attempt to capture some of the flexibility we needed in terms of length of renewal before we filed. He did a good job communicating the actual risks that our business units were facing versus some of the perceived risks that underwriters were focused on.”
In a similar vein, the risk manager at another client said his firm “faced a whole flock of black swans. We operate in more than two dozen countries around the world, so our reorganization was extremely complex. D&O renewal was particularly difficult. On top of it all we had some big debt maturities. It was all in play at the same time. Joseph managed to get the renewals done with our incumbent lead underwriter. We had to go to market to replace some capacity, but at least he was able to keep the existing lead. He was also able to craft a runoff for some operations.”
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.