The 2019 Marine Power Brokers
Wesley Bryan, Senior Vice President, Marsh
Marsh Wortham’s Wesley Bryan doesn’t just know the insurance business, he knows the insured’s businesses.
“Wesley knows our business, our philosophy and our needs intimately,” said one client. “This level of understanding and commitment to our account ensures that we get the right solution first time and in no time.”
Another client said Bryan is “so in tune” with their business, “he is able to think like a customer, while having the expertise of an insurance professional.”
And that expertise is impressive. “He knows the players, knows alternatives, knows who to reach out to when there’s issues to be dealt with,” the client said. “And it’s not just people, it’s the forms and how the coverage works. … But knowing who to talk to and communicate with is very, very important.”
But all that knowledge wouldn’t count for much if it wasn’t put to good use: “He is pretty aggressive at looking for solutions and trying to work through things, as opposed to accepting the way it is.”
Bryan’s solutions get results. He managed to get one client’s terrorism placement limit increased from $10 million expiring to $100 million and added a section for political risk perils with a 5 percent reduction from expiring rates. Another customer saw an increased limit from $75 million to $150 million per conveyance, also with a 5 percent rate reduction.
Scott Davis, Senior Vice President, Aon
After a long string of loss-free years, a global manufacturer was blindsided when the London markets hit its excess cargo program with a 25 percent premium increase just 30 days before renewal. Scott Davis knew it was time for the client to make a move, but he also knew time was tight.
Although the U.S. cargo markets tended to shy away from such coverage, he persuaded seven of them to provide 80 percent capacity at the expiring premium levels.
Simultaneously, he worked with the client to approach the Chinese markets, which took on a portion of what remained. With time running out, Davis returned to the London market, and based on the 90-plus percent of the risk he had covered, he found a home for the remaining capacity — and all of it at the expiring premiums.
“His level of industry knowledge is superior,” said one client. “He brings knowledge, experience and solutions to any given situation.”
Another client said, “He’s good with analytics and uses data and information, which is important to us.
“But at the same time, he understands the markets and can bridge the analytics and our expectations and requirements so we can optimize coverage terms and conditions. … The traditional market swings have been mitigated or eliminated by the capacity that is available. …
Underwriting risks has become harder, because you can’t just follow the market. The underwriters have to really understand the risk. To have a broker who can understand the data and can share that information is crucial.”
Martin McCluney, Managing Director, Marsh
Martin McCluney knows the sea. He grew up in a family engaged in various shipping activities and trained for and considered a career at sea. He also knows insurance, and in the maritime category, that’s a powerful combination.
“He knows how to get things done,” said one satisfied client. “He knows who to work with to get things done. He’s been really one of the best of the best. He’s very good.”
Another client, who has a fleet of over 100 vessels of various types owned by three affiliated companies of vastly different sizes and niches, said, “We have worked with Martin for more than 20 years. … There are a lot of exposures and types of liability, and he has been able to leverage all the premium power of the three companies and put together a program that addresses all of our issues we think bring a lot of financial benefit to us.”
He brings that same level of service to new clients as well, including one who called him “nothing short of heroic” after he rebuilt their machinery program with additional coverage enhancements while saving them substantial money on premiums.
McCluney’s philosophy of customer service includes sharing knowledge with clients, keeping them informed about market, regulatory and exposure changes to minimize unpleasant surprises. It also includes being highly responsive whenever he is needed.
As one client puts it, “When you are trained and licensed to work on a ship, you are on 24/7. That’s how the business is. Martin carries that over to how he does business.”
Whitney Nelson, Vice President, Marsh
Whitney Nelson knows marine insurance. But it is what she does with that knowledge that makes her a Power Broker®.
“Marsh and Whitney came to the table and said, ‘Let’s take your raw products and finished goods out of your property program, which has a higher rate, and put that into a stock throughput program, and we’ll put your cargo in there as well,’ ” said one happy client.
“It was new to me, I had never heard of it before. You are taking close to a billion of your property exposure and moving it to a different type of program. We saved a considerable amount of money, and Whitney was the one who led the effort.”
Another multinational client saw five separate existing programs, plus two local programs in other countries, combined into one seamless program that encompasses all the conglomerate’s entities.
Nelson, U.S. Cargo Leader for Marsh’s corporate segment of business, who touches approximately 800 accounts annually, not only thinks outside the box — she creates new boxes for new thinking and saves her clients money and headaches in the process.
“Whitney has worked diligently with us to break down the barriers of ‘traditional insurance’ practices and procedures,” explained another client.
“We were able to consolidate programs, extend policy terms, expand our customer base and optimize day-to-day activities. … Without her knowledge of the industry and enthusiasm to provide creative and effective risk solutions, these changes/upgrades would not be implemented today.”
The complete list of 2019 Power Brokers® can be found here.