Marsh Broker Payal Patel Recognized as a 2023 Cyber Power Broker
Payal Patel, Northeast Zone Team Leader, Cyber Practice, Marsh
When carriers all presented war exclusions for one of cyber insurance broker Payal Patel’s clients, she jumped into action.
She worked with the carriers to develop policy language that her client felt protected their interests and that they could accept — even in the face of a difficult market where new exclusions have become the norm. “Payal and her team provided insightful models and loss scenarios [to] help my leadership better understand the perils this coverage is intended to protect against,” the client said.
That is far from the only challenge Patel tackled this year. Another client working in the sciences was feeling anxious ahead of renewal. Patel gave her a “10,000-foot view” of how peers in her industry were managing cyber risks, what cybersecurity controls the company needed in place and what it should expect from the market during renewal.
“She knows her stuff and is comfortable and confident with her market,” the client said. “She was able to describe to us what the competencies were and how we scored with our cyber testing assessment.”
Patel is always willing to work long hours to help clients overcome any hurdles in the insurance process. When one client needed to deliver documentation to senior members of his team by the next morning, she stayed late to ensure that everything was completed.
“She’s available. She’s accessible. She’s responsive,” a client said. “She’s a pleasure to work with.”
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.