Woodruff Sawyer Broker Luke Parsons Recognized as a 2021 M&A Power Broker

Topics: M&A

Luke Parsons, Vice President, Woodruff Sawyer

Luke Parsons, ARM
Vice President
Woodruff Sawyer, San Francisco

Just a month ahead of 2020’s P&C-line renewals, Imran Malik, CFO of Cooper Machinery Services, interviewed three brokerage candidates and opted for Luke Parsons at his team at Woodruff Sawyer. With little time to spare, they dug in and Cooper ended up getting a much better bang for the buck.

“We ended up expanding coverage, both in terms of policy lines and [coverage] dollars, all while paying less than before,” Malik said.

A “glaringly” missing policy was added, and Parsons also identified coverage that both Cooper and its landlord were paying for, even though it was the latter’s responsibility.

Working closely with a new private-equity firm, which purchased a new asset in a regulated industry, Parsons found that the company’s existing policies lacked adequate coverage for key raw materials, prompting a discussion about the strategic risk that created for the business at the level of senior management.

Parsons also received accolades for translating insurance-speak and providing the management teams with several options, and explaining their differences and impact on the overall insurance profile.

“Luke is really good at taking insurance speak and translating for management,” said the private equity firm’s operating partner. “If you want to add value to clients, treat the relationship strategically instead of transactionally.”

All 2021 Power Broker Winners 

2021 M&A Power Broker Winners

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.

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