Willis Towers Watson Broker Sou Ford Recognized as a 2019 Cyber Power Broker
Souwei Ford, Atlantic/SE Cyber Team Leader, Willis Towers Watson
A popular restaurant franchisor understood all too well the potential impact to the entire brand if even a single franchisee were to suffer the impact of a significant cyber event.
“If one franchisor has a cyber incident, the [public] perception is that it happened to the brand,” explained the director of risk management.
The company enlisted Willis Towers Watson’s Souwei Ford to build a cyber insurance program that would meet the needs of both the franchisor and the entire franchisee community. It had to provide appropriate limits and retentions for individual franchisees while recognizing the disparity between franchisee sizes and resources.
“How do we scale things down for the mom and pop [operators] and scale up for the big guys?” said the director.
The policy also had to provide the franchisor with much larger program limits should an incident cause losses to the franchise system — regardless of the number of franchisees involved. The program needed to function much like an accordion, said the risk manager, expanding and contracting smoothly as needed.
Designing the heavily manuscripted policy took a combination of creativity, technical expertise and a keen understanding of the franchise’s business, said the risk manager.
“While mostly it’s carriers designing the products and insureds accepting it, this is the insured saying, ‘This is what we want,’ and Sou had to figure out how to translate that to underwriters. She literally and figuratively was right in the middle of all that.”
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.