Newfront Broker Cameron Lock Recognized as a 2023 Finance Power Broker
Cameron Lock, AVP, P&C Account Executive, Newfront
Cameron Lock treats each client as though they are his only client.
Seeing himself as a key stakeholder in forming their risk management strategies, he dedicates extra time and effort to fully understand their businesses, especially those in the evolving digital assets sector.
By staying up-to-date on news within the sector and actively engaging with his mentors and colleagues in the insurance industry, Lock positions himself to understand the general misconceptions about cryptocurrency that hamper his clients’ ability to retain P&C coverage — and to staunchly advocate on their behalf.
Such was the case when the general liability rating of one client needed revision. The company uses cryptocurrency and blockchain technology to secure real-time liquidity transactions. The traditional method used to rate their exposure resulted in an inflated projection of their true exposure and further curbed underwriters’ appetites.
After numerous calls and negotiations, Lock convinced several carriers to view the client as a financial institution (instead of a tech company) and write the program. As a financial institution, their general liability and umbrella liability would be rated on an office square footage basis instead of on total revenue, thereby providing significant premium savings.
Such outstanding service, one client said, is only possible if a broker understands the industry at a very detailed level, and “if you understand what we do.” Lock takes the time to do both.
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.