Woodruff Sawyer Broker Lauri Floresca Recognized as a 2023 Captives Power Broker

Topics: Captives

Lauri Floresca, Senior Vice President, Management Liability, Woodruff Sawyer

Lauri Floresca
Senior Vice President, Management Liability
Woodruff Sawyer, San Francisco

Getting appropriate insurance coverage can be difficult, particularly if you’re one of the largest companies in the world. That was exactly the challenge facing Meta’s D&O program.

By early 2022, Meta — which had incurred several major claims since its initial public offering in 2012 and, as a high-profile company, was under a significant amount of international regulatory scrutiny — found that D&O coverage was becoming increasingly expensive and hard to come by. Lauri Floresca recognized that this unique challenge required a unique solution, so she designed a custom insurance program using a captive.

After a cross-industry group was successful in changing the law to allow Delaware-domiciled companies to use captives for Side A D&O coverage, Meta was keen to take advantage of the new flexibility it was afforded. So Floresca established a whole new market for the coverage, crafting what she calls a “Laser DIC” (difference in conditions) solution to cover the narrow area that wasn’t protected by either traditional insurance or the captive, using $100 million in capacity provided by a consortium of 13 D&O insurers.

As a result of her work, other companies can now benefit from the new market too. “Lauri does a nice job of managing our expectations and providing a balanced view of what to expect with our renewals and the pros and cons associated with each of the insurance options we are considering,” said Janaize Markland, director of business risk and insurance, Meta. “She never feels shy about bringing ideas to the table.”

All 2023 Power Broker Winners

2023 Captives 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.

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