Marsh Broker Paul Taylor Recognized as a 2021 Utilities Power Broker
Paul Taylor, Senior Vice President, Marsh
Marsh’s Paul Taylor tackles tough renewals without batting an eyelash.
“Our renewal was looking grim,” one company president said.
The client is in the process of being acquired by a much larger utility, which created uncertainty around its recent renewal. The utility wanted to try to arrange a brief extension to its policy in an effort to dovetail into the expected closing date on the deal.
Taylor advised that was well intentioned, but too clever by half. Acquisitions have notoriously variable closing dates even in lightly regulated industries; for utilities, governmental approvals could neither be fixed nor rushed.
“Paul gave us a view of the market that was pragmatic and realistic about expectations. He was very supportive and worked hard to get us the best deal,” the client said.
“We were clear with him about our maximum budget, and he educated us and eased our fears. He didn’t just brief us about the insurers, but Paul gave us a nuanced view of each one so that we could fully understand the market. That in turn enabled us to help him present our case to the underwriters, to detail how our risk profile was actually better [than it might appear].”
Taylor organized a comprehensive pre-renewal road show and achieved a successful renewal despite the hardening markets and the client’s natural catastrophe exposure in a record year for named storms. In the end, the client was complimented by the acquiring company on the insurance terms secured.
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.