Marsh Broker Julie Martin Recognized as a 2022 Nonprofit Power Broker
Julie Martin, Managing Director, Marsh
Julie Martin’s philosophy is to educate her clients in order to help them make informed decisions about political risk or structured credit insurance — both of which are quite discretionary.
Jeanne Shen, chief investments officer, investments at GAVI Alliance, said Martin was instrumental in helping GAVI Alliance address a critical risk mitigation effort for COVAX. COVAX is a global initiative launched in 2020 that works with governments and manufacturers to make COVID-19 vaccines available to both high-income and lower-income countries.
GAVI leads the procurement and delivery at scale for COVAX. This includes designing and managing the COVAX facility, a global risk sharing mechanism for pooled procurement and fair distribution of COVID-19 vaccines. Because GAVI is a nonprofit and pre-purchases vaccines in bulk from manufacturers, it faced significant financial risk if the payments owed to manufacturers were misaligned with the incoming financial commitments expected from 21 self-funding countries participating in COVAX.
“Julie co-led Marsh’s structured credit team tasked with quickly creating and placing an insurance program on behalf of GAVI to cover the risk,” Shen said. “Structuring such a risk mitigation program to match the scale, complexity and ambition of GAVI’s program in such a short timeframe was no easy task.”
Ultimately, Martin and Marsh were able to place a program that provides GAVI cover against the risk of non-payments by 21 countries across Africa, the Americas, Asia and Continental Europe.
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.