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Marsh Broker Mary Anne Budworth Recognized as a 2024 Health Care Power Broker

Topics: Health Care

Mary Anne Budworth, Senior Vice President, Marsh

Portrait of Mary Anne Budworth

Mary Anne Budworth, CIC, CISR, CRIS, CRM
Senior Vice President
Marsh, Chicago

Managing drastic rate swings and marketplace shifts has become second nature for Mary Anne Budworth. One of her clients faced a tough mid-year renewal. Getting ahead of it meant beginning renewal conversations early to inform and prepare the client for a deteriorating marketplace and set expectations that the market would continue to decline. Budworth’s research showed renewals on loss-free accounts were experiencing 40 to 60% rate increases, while loss-impacted programs were seeing increases surpassing 140%.

Budworth successfully negotiated a nominal 2.28% property valuation increase, well below U.S. average increases that ranged from 9 to 20.5%. The California earthquake and flood (DIC) market presented another set of renewal challenges. Capacity for DIC coverage significantly decreased early in 2023. Budworth negotiated with the incumbent lead carrier to include $2.5 million of California earthquake, $10 million of low-hazard flood and $2.5 million of high-hazard flood.

In the end, the property program saw a 24% all-risk premium increase and a 23% DIC premium increase, greatly outperforming the initial market  indications. Budworth retained the incumbent lead carrier and successfully navigated the valuation increases, and terms and conditions were minimally impacted.

A client spoke about Budworth’s business knowledge, saying that “Mary Anne knows the senior living business inside and out.”

All 2024 Power Broker Winners

2024 Health Care 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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