Marsh Broker Stephen Wattman Recognized as a 2021 Environmental Power Broker
Stephen Wattman, Vice President, Marsh
“Our three-year pollution liability policy was not due for renewal until January 2021, but we opted to renew 90 days early so we could align that renewal with the rest of our program,” said a company executive.
“There were several things we wanted to address, including the coverage itself and also the way we got credit for risk management. It was a complex renewal as the market was hardening. The underwriter wanted terms included that they could review each of our [transactions], and we could not agree to that; it was excessive, especially as we had no claims. Stephen got the underwriter comfortable with our own internal due diligence and got the terms of the policy to allow for manageable documentation. We got favorable credits for our risk management and a good overall result.”
The manager of insurance at another client said, “We were renewing our pollution policy with our incumbent carrier, and they wanted a significant increase in premium. It is a small policy with really little-to-no exposure. Stephen recommended we go out to the market and got a drastically reduced premium for better coverage.”
Another multi-national client had two separate site liability policies running concurrently across two separate business units.
One of the carriers said it was reducing its exposure and would not renew. The client credits Stephen Wattman with finding locally admitted coverage to consolidate a master 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.