Pritchard and Jerden Broker Steve Heinen Recognized as a 2020 Workers’ Comp Power Broker
Steve Heinen, Vice President, Pritchard and Jerden
The Elberton Granite Association is a 68-member self-insurance fund with a unique structure. Each member is a qualified self-insured with the state board, but it also acts as a group fund.
Broker Steve Heinen joined the fund as its risk manager just before Chris Kubas was named EVP. Together, they saved the struggling fund.
“I knew nothing about workers’ comp,” said Kubas. “Steve has mentored me to the point where we have completely turned this fund around — it’s really because of him and his expertise and his ability.
“The hands-on service he gives us you would not get from a typical broker.”
Heinen recently helped the fund achieve a historically low loss ratio.
Heinen also led the charge on incorporating a captive to reinsure the layer under the program’s excess $750K limit, a strategy that has had a significant impact on the fund’s surplus.
“The captive gave us tax advantages so we could grow our surplus and build strength,” said Kubas. The fund has generated a surplus of more than $5 million.
Kubas speaks with admiration about Heinen’s creativity and the level of trust he has in the talented broker’s ideas.
“He uses us as kind of a testing house. It’s been wildly successful. There’s nobody in the state of Georgia who knows this stuff as well as Steve,” he added.
“I call him the mad scientist sometimes, because we’re always trying to create something new.”
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.