2222222222

Risk Strategies Broker Daniel Palmer Recognized as a 2024 Cyber Power Broker

Topics: Cyber

Daniel Palmer, Associate Director, Risk Strategies

Daniel Palmer
Associate Director
Risk Strategies, New York

When a small community bank approached its cyber insurance renewal, its CFO sought to understand the organization’s cyber risk, as its vulnerabilities were intricately intertwined with those of its service providers.

“A bank of our size is dependent upon various third parties to maintain our network infrastructure,” he explained.

Rather than renew a policy that may have been over-insuring the bank in some areas and under-insuring against key threats, the CFO consulted broker Daniel Palmer, who then convened a meeting with his counterparts from the bank’s core processor and network service providers, “to try to get a comprehensive picture of each entity’s cyber liabilities and coverage needs.”

Prior to their engagement with Palmer, “no one had been looking at [our] community bank’s [cyber] standpoint this way,” the CFO said.

Following what the CFO described as “an above-the-table series of partnership conversations and information-sharing,” Palmer and his team conducted a detailed review of each party’s cyber insurance policies and disaster recovery plans, then provided each organization with profiles and recommendations for better cybersecurity alignment and protection.

“He connected the dots,” the CFO said. “Having a professional in the cyber insurance industry like [Palmer] as a partner breathed a whole lot of life into this. Everybody who was participating found it an incredibly beneficial process to go through.”

All 2024 Power Broker Winners

2024 Cyber 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 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.

More from Risk & Insurance

More from Risk & Insurance