Newfront Insurance Broker Serge Vorobets Recognized as a 2020 Construction Power Broker
Serge Vorobets, Principal, Newfront Insurance
Serge Vorobets is a broker whom clients count on when they need to control their workers’ comp insurance costs, a common bugaboo in construction.
Teraquest Construction was experiencing extremely elevated workers’ comp premiums — elevated enough to be debilitating, after two employees suffered minor injuries in separate “freak” accidents, noted company owner Curtis Murphy.
“We were suffering from rates that could only be considered punitive in nature,” he said.
Working his market relationships, Vorobets secured coverage at “rates that fit the true character of our company” by fully informing markets about Teraquest’s safety programs, employee relations and human resources, Murphy said. The solution Vorobets provided the company saved it $20,000 per year, Murphy said.
Another client had a good workers’ comp rate but still was looking for any cost-cutting it could find.
In addition, the client intended to sell off a separate operation but first needed to separate it from the main one and set up separate insurance programs for the two operations.
“I consider myself a savvy and experienced insurance buyer, but I was truly impressed with how Serge operates,” the client said.
“He claims to have very strong carrier relations, and based on his performance, I wholeheartedly believe it,” as he was able to secure an even lower rate that saved the company $170,000.
And Vorobets produced the savings knowing that the company would be putting its account out to bid to other brokers the following year, the client noted.
2020 Construction Power Broker Winners and Finalists
What is a Power Broker?
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.