Rising Star Amy Klitzke on Her Management Liability Career and How the Industry Can Best Attract Upcoming Talent
Come see the Stars! As part of our ongoing coverage of the best brokers in the commercial insurance space, Risk & Insurance®, with the sponsorship of Philadelphia Insurance, is expanding its coverage of the Rising Stars, those brokers who represent the next wave of insurance brokering talent.
Look for these expanded profiles on the Risk & Insurance website and in your social media feeds now and continuing into 2022.
We talked to Amy Klitzke, senior vice president of management liability at Marsh & McLennan Agency, and a 2021 Agriculture Power Broker and Rising Star.
Risk & Insurance: What excites you about working in management liability?
Amy Klitzke: For me, it’s really about the ability to bring value to clients and help clients present themselves as best they can in front of their leadership to deliver a service and, really, the best result possible.
R&I: What has been your most rewarding feat as an agriculture sector insurance broker in the past year?
AK: In the agriculture sector, one of my clients underwent a complete restructuring of its D&O program to better account for its internal risk management philosophies and its wherewithal to retain risk.
It’s a very large client in that space, so implementing a program in terms of coverage for its individual directors and officers in a cost-efficient manner was very rewarding.
Again, it’s important to ensure that the client looks good and putting the best coverage in place.
R&I: What are the top challenges for management liability as you look ahead?
AK: In management liability, staying on top of trends is key.
The litigation space is evolving quicker than it ever has, so making sure that clients are staying up-to-date is really the job of the broker to ensure coverage is keeping up with the trends.
Specifically to management liability, the market is starting to stabilize. So it’s important to make sure that we are doing the best by our clients in terms of creating strategies to fully harness what is taking place in the market, whether it be from a coverage, insurer relations or pricing standpoint.
R&I: What advice would you give to a young professional who is unsure about a career in insurance?
AK: I think younger professionals, or people who are just embarking on their careers, do not realize the scope of career opportunities within our industry. The word “insurance” can turn people off almost immediately, because there are preconceived notions about what the industry is about.
I know for me, coming into the industry, I did not realize how complex the corporate insurance world was. Especially when it comes to my specialty of management liability; I didn’t even know that type of insurance existed before I began my career.
Many of us have had stories of “just falling into the industry,” but this career is so rewarding, from the diversity of clients you’re able to work with to being able to push yourself in creating relationships to also learning technical skills.
A career in this industry really enables you to take advantage of many skillsets that are extremely valued.
This is an industry that is growing every day, and there are so many opportunities for young professionals.
R&I: How can the industry do a better job of attracting talent?
AK: I believe the industry could do a better job in terms of advocating for itself when connecting with colleges and universities. It’s about getting the word out about the industry so that we become more of the top-tier industry that college graduates are looking to be hired within.
Being more visible and collaborating with organizations that have these touch points with universities is key. It could even be reached a step further by communicating at the high school level before students decide what field they may want to pursue.
It’s about having the knowledge about what the industry really has, rather than the preconceived notions that so many people have. &