Marsh Broker Mike Gaudet Recognized as a 2019 Utilities Power Broker
Mike Gaudet, Managing Director, Marsh
“Mike has helped us tackle a very difficult and unusual cyber situation whereby we operate another company that is a public entity in another state,” said one insurance and risk manager about Mike Gaudet.
“Most coverages are purchased entirely separate for this entity per our operating agreement. However, we were at a loss for how best to handle this convergence of ownership, operations and systems when it came to the IT operations of the entity.
“Mike worked with our senior leadership,” the manager continued, “the public entity’s senior leadership, and ultimately the insurance carriers to create a clear understanding of how this exposure could be addressed and to make sure there were not any insurance gaps for cyber.
“With a dedicated sublimit for the public entity’s exposure and an endorsement detailing the coverage itself, both companies were happy.”
Another insurance director reported that “Mike worked to improve our cyber form, adding new coverage. We are a regulated utility that makes frequent use of the industry mutuals. He also got all three insurers to work together to move from a tower to a pro-rata share of our coverage.”
A third client took a different approach to its renewal, opting to move from a layered insurance tower to a quota-share program.
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.