Willis Towers Watson Broker Clay Morris Recognized as a 2019 Construction Power Broker
Clay Morris, Executive Vice President, Willis Towers Watson
For Robins & Morton Group, Clay Morris reviewed a subsidized builder’s risk policy that the owner of the client’s largest project purchased. The project’s coastal location is at risk to named storms, but Morris discovered the policy did not cover contractors’ storm-protection costs.
“Clay’s attention to detail on this issue helped us put better [difference in conditions] coverage in place at a cost the project owner was willing to pay us for,” said P. Benjamin Leaver, Robins & Morton’s director of finance.
The impact on the client and several large sub-contractors has been significant. The contractors have had to protect the project twice, at a cost of several hundred thousand dollars, Leaver noted.
“Without the coverage, we would have suffered profit write-downs.”
Morris-Shea Bridge Co. Inc. needed to acquire $15 million of equipment manufactured overseas, noted CFO Andy Joiner. The investment allowed Morris-Shea to complete “almost $500 million of contract work with handsome profit margins,” Joiner said.
But there was a stumbling block: The manufacturer required advance payment, but the company’s creditors wouldn’t fund the purchase until the equipment was on U.S. soil.
Morris facilitated the transaction by finding insurance that covered the equipment while it was located outside the country and in transit: “Clay immediately offered the solution and utilized his contacts to get the ball rolling to ensure we had the appropriate coverage in place both internationally and domestically,” said Joiner.
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.