The Insurance Geek
Marsh’s Matthew Giambagno has a reputation as an insurance educator. “We were very pleased that Matt was in charge of our account this year. Our company was in the midst of a significant divestiture,” said the insurance manager for a client. “Matt provided able assistance with all of the insurance negotiations and program or policy changes. His knowledge of both the property and casualty markets, and our insurance programs in particular, enabled our senior management to better understand our insurance options before and after the split,” the client said. “He was able to look ahead and ensure that there were no unexpected delays or potential issues that would delay the closing in any way.”
A Tenacious Diplomat
Aon’s Chris Shorter spent more than five years as an underwriter in the energy group of a major carrier, and so had the ideal skillset when clients battered by the plunge in energy prices came to him seeking rate relief.
“There has been a terrible decline, with oil and gas down substantially, and we told him where we needed to be on price, retentions, terms and conditions,” said one risk manager. “We also told him that we wanted to stay with our incumbent carrier. We don’t believe in jumping around.”
Even though the casualty market was softer last year than in the year before, Shorter still had to reach far into his bag of tricks from his time as an underwriter to achieve the 20 percent reduction the client sought.
He basically crafted the entire program for the underwriter, from recommended coverage and terms to structure and rate rationale. Placement turned into a granular discussion of underwriting at a very technical level.
Shorter kept the client in the loop throughout the discussions. There were some adjustments made, but for better or worse the client stuck with its goals for reductions. In the end it worked.
“We were able to hold where we wanted to,” said the risk manager.
“Chris also worked his magic on our excess umbrella tower.”
The client credits Shorter with both tenacity and diplomacy.
Working the Market
Regulatory regimes for power generators vary widely around the country, with some states being quite laissez faire, others almost draconian. “Sean helped us a great deal this year with our excess liability renewal,” said the risk management adviser for one client.
An Essential Partner
Downstream assets tend to be fraught with risk. Offshore markets, including Bermuda and Europe, are becoming an increasing presence as brokers push to differentiate their clients’ risk profiles. Clients say Aon’s Rene Van Winden meets these challenges with savvy and skill.
Better Than Ever
The downstream segment of the energy business is fragmented, with companies operating in myriad small segments. It’s a complicated landscape to navigate, which is why clients value the counsel they get from David Robinson, Aon Risk Solutions Energy Global Downstream and Midstream sector leader.