Marsh Broker R. Alfonso Lozada Jr. Recognized as a 2019 At Large Power Broker
R. Alfonso Lozada Jr., Executive Vice President, Marsh
It is when catastrophe hits that companies depend the most on their insurance partners. R. Alfonso Lozada Jr., an executive vice-president and managing director at Marsh Saldana, in San Juan, Puerto Rico, showed exactly what that means after hurricane Maria devastated the island in September, 2017.
A 40-year veteran in the insurance industry, Lozada deployed his knowledge of the market and network of connections to guarantee the payment of claims to his clients, even though the island’s insurance industry went into disarray after the catastrophe. “There are a lot of people who still haven’t been able to collect their claims in full,” said Alberto Torruella, the executive vice president at Destileria Serralles, a rum distillery and one of the clients who relied on Lozada to process their claims.
“We suffered some major damages, but we have managed to collect all the payments that we were due.”
Torruella stressed it was no mean-feat from the broker, as for a long time Puerto Rico went through power and communication cuts, making it very hard to even talk to carriers, and the insurance industry had to bring adjusters from Mexico and other countries in order to assess the extensive damage caused by Hurricane Maria.
Destileria Serralles suffered damages such as the collapse of the roof at its bottling plant and the consequent crashing of machinery. To compound the challenges, one of its two lead insurers went bust due to the accumulation of losses caused by the hurricane.
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.
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