Willis Towers Watson Broker Kate Mead Recognized as a 2019 Environmental Power Broker
Kate Mead, Senior Vice President, Willis Towers Watson
After losing a major carrier as the primary incumbent, Kate Mead had to replace another $20 million in capacity at the second excess layer due to a treaty restriction of another incumbent player.
In the end, three new carriers were introduced to the program including a new partner on the primary layer. The program remained on a multi-year term, with expiring limits of liability, similar retention structures, matched coverage and only a modest premium increase due to a combination of additional exposures and claims experience.
“During the past year, Kate has done an excellent job in brokering two environmental policy renewals involving strategic government-owned sites operated by us,” said one director of risk management.
“Kate went the extra mile working with the local site personnel to fully understand each site’s unique risk exposures, communicate their individual risk profiles to the underwriters and craft cost-effective coverage.”
With underwriting submissions out to 17 insurers more than 100 days in advance of the renewal, Mead lead the formal marketing efforts with face-to-face client-carrier meetings with most of these insurers.
After months of intense negotiations, Mead and her team were able to secure a pollution legal liability program that met or exceeded all expiring coverage, maintained a multi-year policy term, and matched limit and retention structures. All with a significant premium savings. The policy was highly manuscripted and also satisfied the various regulatory and financial obligations.
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.