Insurance Business America 8.02

IBAMAG.COM ISSUE 8.02 | $12.95

MANAGING MAJOR GROWTH How CEO Davis Moore took Worldwide Facilities from $200 million to nearly $2 billion in GWP

THE NEXT BIG POLLUTION ISSUE

How to talk to your environmental insureds about PFAS

PICTURE THIS: INSURING FINE ART Insurance’s role in helping museums recover from heists

THE HEAT IS ON

What the industry can do to reduce the fallout from wildfires

TOP PRODUCERS 2020 90 producers who led the pack in commission revenue – and how they did it

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ISSUE 8.02

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UPFRONT 04 Editorial

Stop sitting on the sidelines of cannabis insurance

06 Statistics

Key data that should be on your radar this month

08 Head to head UPFRONT

2020

24 SPECIAL REPORT

TOP PRODUCERS

IBA names 90 of the country’s best producers and reveals the strategies that propelled them to the top of the industry

PEOPLE

INDUSTRY ICON

NEWS ANALYSIS Despite some recent high-profile heists, too many art museums remain underinsured

This month’s big movers, shakers and new products Inside Midlands Management Corporation’s recent acquisition by Safety National

16 Technology update

Which emerging technology is having the greatest impact on insurance?

56

23 Opinion

It’s time for the industry to step up its role in wildfire mitigation

FEATURES

THROUGH THICK AND THIN

JAG Insurance Group’s Luis Gazitua tells IBA how he and his partners reinvented an old-school niche agency

58

PEOPLE 62 Career path

Early international experience set the stage for Dawnmarie Black’s current role at Lloyd’s

64 Other life

Insurance executive Susan Froman’s hands-on approach to giving back

FEATURES

THE NEXT BIG THREAT: PFAS

So-called ‘forever chemicals’ have the potential to cause billions of dollars’ worth of claims. What do brokers need to know?

2

12 Intelligence

14 Workers’ comp update

Worldwide Facilities CEO Davis Moore outlines how his company has grown exponentially without losing sight of its core culture

20

Will new rules about overtime pay lead to a flurry of EPL claims?

IBAMAG.COM CHECK IT OUT ONLINE

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UPFRONT

EDITORIAL

Break through the grass ceiling

T

he adult-use legal cannabis market in the United States is progressing rapidly from bud to flower. Eleven states and the District of Columbia have now legalized recreational cannabis, and several others are expected to follow suit in 2020. Key prospects for decriminalization lie on the East Coast; experts believe legal weed is on the horizon in New York, New Jersey, Vermont and Connecticut. If one state gives the green light, this could lead to a legalization domino effect, which could create billions of dollars in business opportunities.

With this in mind, it’s high time for the insurance industry to come to grips with cannabis risk. The booming marijuana industry provides low-hanging fruit for brokers in the form of premium and new clients. Businesses in need of insurance coverage vary dramatically in shape and size. You might come across the mom-and-pop shops, whose longstanding illegal grow operations have suddenly become credible businesses that require insurance. Or you might be dealing with a huge commercial operation, backed by investors who want to know their investment is safe. There are multiple avenues to jump on the weed bandwagon.

www.ibamag.com MAY 2017 EDITORIAL

Managing Editor Paul Lucas Editor Bethan Moorcraft Journalists Alexi Demetriadi, Alicja Grzadkowska, Ksenia Stepanova News Writers Lyle Adriano, Terry Gangcuangco, Roxanne Libatique, Gabriel Olano Staff Writers Ellen Burkhardt, Tom Goodwin, Kasi Johnston, Libby MacDonald, Ryan Smith Copy Editor Clare Alexander

CONTRIBUTORS Alexandra Syphard

ART & PRODUCTION Designer Joenel Salvador Production Manager Alicia Chin Production Coordinator Kim Kandravy Traffic Manager Ella Dayandante

SALES & MARKETING Vice President, US Market Cathy Masek Vice President, Sales John Mackenzie Media Sales Manager Desiree McCue Global Head of Media Marketing Adrijana Monevska

CORPORATE

While some of you might have been exposed to some rather ‘dope’ college years, this doesn’t qualify you as an expert in cannabis insurance So, you might be thinking, where do I start? First things first, don’t give halfbaked advice! Treat it like any other commercial risk, but don’t pretend to be an expert. While some of you might have been exposed to some rather ‘dope’ college years, this doesn’t qualify you as an expert in cannabis insurance. Luckily, there’s a rapidly growing network of cannabis risk specialists across the US whose expertise you can tap into as you learn the business.

IBA has been fortunate to secure many of the leading cannabis risk experts as speakers for our upcoming Cannabis Cover Masterclass events in Denver on March 17 and Los Angeles on March 24. Each exclusive event will unwrap the complex insurance needs of the cannabis, CBD and hemp industries, covering topics like regulation, insurance coverage essentials, effective claims handling, product liability and more. Register now at cannabis.ibamag.com.

The team at Insurance Business America

Chief Executive Officer Mike Shipley Chief Operating Officer George Walmsley President Tim Duce Chief Information Officer Colin Chan Human Resources Manager Julia Bookallil

Editorial Inquiries paul.lucas@keymedia.com Subscription Inquiries subscriptions@keymedia.com Advertising Inquiries cathy.masek@keymedia.com, desiree.mccue@keymedia.com

Key Media 78O7 E. Peakview Ave., Suite 115 Centennial, CO 80111, USA tel: +1 720 316 0151 www.keymedia.com Offices in Denver, London, Toronto, Sydney, Auckland, Manila, Singapore, Seoul

Insurance Business America is part of an international family of B2B publications, websites and events for the insurance industry Insurance Business Canada john.mackenzie@kmimedia.ca T +1 416 644 874O Insurance Business UK gemma.powell@keymedia.com T +44 20 7193 0935 Insurance Business Australia peter.smith@keymedia.com.au T +61 2 8437 47OO Insurance Business NZ peter.smith@keymedia.com.au T +61 2 8437 47OO Insurance Business Asia peter.smith@keymedia.com.au T +61 2 8437 47OO Printed in Canada

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Copyright is reserved throughout. No part of this publication can be reproduced in whole or part without the express permission of the editor. Contributions are invited, but copies of work should be kept, as the magazine can accept no responsibility for loss.

14/02/2020 3:42:15 AM

Rock-solid Rock-solid Rock-solid

environmental insurance. rance.

Freberg Environmental

Powered

Powered by:

by:

feiinsurance.com 800/377-4152

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Feb

2020 IBA Feb 2020

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UPFRONT

STATISTICS THE IMPACT OF AUTO ACCIDENTS

18,580

Estimated number of motor vehicle deaths during the first half of 2019

8

WHICH STATE HAS THE WORST DRIVERS?

(TIE)

The nation’s most dangerous drivers are concentrated in a state with a consistently terrible track record: New Mexico, which was named the state with the worst drivers for 2019 by the website CarInsuranceComparison.com, which evaluated each state based on vehicular fatalities, careless driving, drunk driving, speeding and compliance with traffic laws.

New Mexico has the dubious honor of being named number one twice and in the top three every year since the study’s inception in 2011.

MONTANA

10 NEVADA

6 1

3

COLORADO

NEW MEXICO

ARIZONA

11.8

Motor vehicle deaths per 100,000 US residents in the first half of 2019

2,118,000

Number of non-fatal medically consulted injuries resulting from car crashes in the first half of 2019

MOST LINES SEE RATE INCREASES IN Q4 D&O and commercial auto insurance saw the most significant rate spikes in the fourth quarter of 2019, part of a steady upward trajectory across the board. Insurers raised prices for nearly all lines in Q4, with the exception of workers’ compensation.

10% 9% 8% 7% 6% 5% 4%

$191.7 billion

Cost of motor vehicle fatalities, injuries and property damage for the first half of 2019 Source: National Safety Council, 2019

3% 2% 1% 0% -1%

8.25%

8%

6%

5.5%

5.25%

5%

4.25%

D&O Commercial Professional Umbrella/ Commercial Business General liability auto liability excess property interruption liability

4.25%

4%

3.5%

3.5%

3.25%

-1%

EPLI

Inland marine

Business owners

Fiduciary

Crime

Workers’ compensation

Source: MarketScout, 2020

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TOP BUSINESS INTERRUPTION FEARS Although companies worldwide no longer consider business interruption their biggest risk, it’s still a major concern in today’s interconnected world – one that is driven by many of the other top 10 risks on Allianz’s 2020 Risk Barometer.

WHAT CAUSES OF BUSINESS INTERRUPTION DO YOU FEAR THE MOST? 60%

7

MISSOURI

2 5

TEXAS

8

50%

40%

SOUTH CAROLINA

30%

ALABAMA

(TIE)

20%

10%

4

LOUISIANA

0%

55%

46%

43%

30%

25%

Cyber Fire/ Natural Machinery Supplier incidents explosion catastrophes breakdown failure Source: CarInsuranceComparison.com

13% Economic policy/ sanctions

Source: Allianz Risk Barometer 2020

CYBER NAMED THE TOP BUSINESS RISK

BEST PRACTICES FOR CYBER RESILIENCE

Cyber incidents have emerged as the top risk for businesses worldwide in 2020, according to the latest Allianz Risk Barometer, due to increasing connectivity and more sophisticated attacks. Other risks that have increased in importance include changes in legislation and regulation, climate change, and loss of reputation or brand value.

Companies are increasingly realizing that “purchasing cyber insurance should be one of the final points in a plan to enhance cyber resilience,” as Allianz Global Corporate & Specialty’s Marek Stanislawski put it. More than half of companies said they approach cyber as part of enterprise risk management.

More important than last year

Less important than last year

No change

WHAT’S THE BEST APPROACH TO IMPROVING CYBER RESILIENCE?

1

Cyber incidents

6

Fire/explosion

2

Business interruption

7

Climate change

3

Changes in legislation and regulation

8

Loss of reputation or brand value

4

Natural catastrophes

9

New technologies

5

Market developments

10

Macroeconomic developments Source: Allianz Risk Barometer 2020

Cyber risk is part of our overall enterprise risk management and is viewed as a key business risk 55%

Monitor and measure security and availability of systems through continuous vulnerability and risk assessments, remediation, and sharing intelligence 52%

Regular staff information security training, awareness and anti-phishing campaigns 45% Source: Allianz Risk Barometer 2020

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UPFRONT

HEAD TO HEAD

How will new overtime rules impact EPL exposure?

Will the updated Fair Labor Standards Act and other regulations put pressure on employment practices liability policies?

Jade Rabacal

Senior underwriting manager Tokio Marine HCC “The challenge employers face regarding the new FLSA rule is local interpretation and enforcement. Not only do they need to consider how the new federal rule will affect them, but also how this will impact state and local wage laws.

For this reason, employers not only need employment practices liability insurance, they also need access to localized expertise.

It is, therefore, an advantage to carry EPL insurance that comes with tools and resources that offer state-specific HR content and advice. Especially for smaller businesses without internal HR experts, these resources will help navigate everevolving employment law and regulations.”

Chris Williams

Employment practices liability product manager Travelers “Any change in the law creates exposure and a potential for more wage and hour litigation as employers try to comply with the new rules. An estimated 1.3 million additional workers will now be eligible for overtime pay under the Fair Labor Standards Act, so employers need to make decisions on employee salaries, track work hours and pay overtime while classifying workers correctly.

Failure to do so could result in a lawsuit that might include settlement or verdict costs and plaintiff attorney fees.

In addition, the organization would be required to incur defense expenses to respond to the lawsuit.”

Jennifer Bergstrom

AVP and team manager, management liability Hiscox USA “The increased salary threshold for the ‘white-collar’ exemptions under the FLSA is expected to result in approximately 1.3 million currently exempt employees being reclassified as non-exempt.

As a result, we anticipate an uptick in wage and hour litigation for the retail, hospitality and service industries, because entry-level managerial employees in those industries generally earn less than the new increased salary threshold. Employers in those industries should [consider] whether salaries for managerial-level employees need to be increased or changed. Employers that fail to do so are likely to find themselves at heightened risk of litigation.”

WORKPLACE HAZARDS Employment practices liability insurance has come to the fore over the last year, given the recent wave of new employment laws across the US, including an update to the Fair Labor Standards Act that raised the income threshold for entitlement to overtime pay. Given that, plus a plethora of new state laws, insurers are warning clients of the need for robust EPL coverage. “California just passed multiple laws, such as mandatory sexual harassment training for any employer with more than four employees,” Jade Rabacal of Tokio Marine HCC told IBA. “Another new law extends employees’ statute of limitations to file claims. So, various states are now implementing new laws that will further broaden the rights of employees, which in turn will also open up small business employers to more litigation.”

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Our Brokers Trust Us with Their Best Clients “The most important thing we can do to earn that trust is to perform. It is really easy to sell Safety National’s offerings because everyone here genuinely believes that we are providing the best products and services in the industry. I am able to tell people to trust us with their business because we live up to our promises.”

– Rob Leitner, VP Business Development

Rob Leitner with members of Business Development

® Proceed with Safety Proceed with Safety®

Workers’ Compensation: Excess • Large Deductible • Large Guaranteed Cost • Defense Base Act • TEXcess® Commercial Auto • Commercial General Liability • Umbrella / Excess Liability • Public Entity Liability • Cyber Risk Loss Portfolio Transfers • Self-Insurance Bonds

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UPFRONT

NEWS ANALYSIS

Protecting the priceless A recent jewelry heist in Europe underscores why museums can’t afford to skimp on fine art insurance

THE CREW of thieves that Sandra Bullock’s character assembles in Ocean’s 8 has some stiff competition. In November, a real-life criminal group stole 18th-century jewelry from the collection of the former Saxon ruler Augustus the Strong, which was being housed at the Green Vault at the Royal Palace museum in Dresden, Germany.

The priceless objects taken in the heist were encrusted with hundreds of diamonds, including the 49-carat Dresden white diamond (which analysts estimate to be worth around $10–$12 million). The 11 pieces stolen ranged from a sword with a diamond-encrusted handle to shoe buckles and buttons made of diamonds, as well as a hair clip shaped like the sun. The hit to the museum was substantial, not least because

firm. Dunn points out that even though the Royal Palace museum had security measures in place, the thieves managed to overcome these obstacles, further demonstrating the importance of insuring priceless collections.

“It underscores the value for museum collection coverage – otherwise known as fine art insurance – because when there is a loss, there’s an entire network of not only loss adjusters, but the Art Loss Register and Art Recovery International, which work closely with the FBI’s art unit and Interpol in tracking stolen art,” Dunn says.

Despite these benefits, a lack of insurance coverage is common among art institutions.

“Most museums are not fully insured because it’s cost-prohibitive,” says Ellen Ross, managing director of fine arts insur-

“This will give museums pause to work carefully with fine art insurance brokers and fine art insurers” Joe Dunn, Huntington T. Block the collection was uninsured.

“I think this will give museums pause to work carefully with specialists – fine art insurance brokers and fine art insurers,” says Joe Dunn, president and CEO at Huntington T. Block, a fine art insurance underwriting

10

ance at Gallagher, although she adds that most museums do have some coverage.

“They decide how much they can afford and how to spend their dollars.”

Meanwhile, the losses incurred to a museum following an incident like the one in

Dresden are both financial and reputational.

“Most museums have a mission to preserve and display these unique and valuable works of art or rare objects, so an incident like this goes against their mission,” Ross says. “These particular pieces are not going to be replaceable. They could get similar pieces, but they’re never going to be able to replace the rarity and the history of those objects.”

The Dresden heist isn’t the only fine art theft that’s hurt institutions recently.

“We have had recent experiences of smash-and-dash in galleries in Manhattan, where an individual would just walk into the gallery and abscond with a painting off the wall – or several paintings off the wall, if it’s a group of people – so theft is very much a worry,” Dunn says.

Of course, theft is far from the only concern for museums and galleries. While

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HISTORY’S MOST BRAZEN ART HEISTS

1911 Leonardo de Vinci’s Mona Lisa is stolen from the Louvre in Paris

1972 Three robbers with machine guns abscond with 18 valuable paintings and 40 items of jewelry and precious objects from Montreal’s Museum of Fine Arts

1985 Thieves take 140 Mayan, Aztec and other Mexican Indian artifacts from Mexico City’s National Museum of Anthropology

1994 Two men steal Edvard Munch’s The Scream from Oslo’s National Gallery, leaving a note reading, “Thanks for the poor security”

2010 they might make headlines, big heists like the one in Dresden aren’t the most important peril that fine art institutions have to worry about.

“The number-one risk to art is the

As for the precious jewels stolen from the museum in Dresden, the story hasn’t had a happy ending so far. While police offered a €500,000 reward for anyone who could offer information about the heist, the case of

“Most museums are not fully insured because it’s cost-prohibitive. They decide how much they can afford” Ellen Ross, Gallagher handling of the object,” Ross says. “More losses occur while the pieces are being handled – meaning either installed or deinstalled, and/or in transit. That’s probably the number-one peril that happens with respect to the artwork and jewelry.”

the missing jewels hasn’t been solved.

“The shame of the collection in Dresden is it had survived World War II, as it had been safely hidden away, and then it survived the Soviet occupation,” Dunn says.

“And that museum had just been restored

Source: The Future of Insurance, Argo Group, 2019

Vjeran Tomic, nicknamed ‘Spiderman,’ steals five masterpieces, including works

by Picasso and Matisse, from the Museum of Modern Art in Paris

to its former glory, and it’s one of the most important jewelry collections in Europe.

“The unfortunate part of when jewelry is stolen is it’s very easy to remove the stones from the precious metal,” he adds. “They can then just melt down the precious metal and sell that for its street value, and the historic gems can be cut and then resold as smaller precious gems.”

After that happens, it’s almost impossible to track the stones.

“The longer that heist goes on unsolved,” Dunn says, “the greater likelihood is that those precious objects will be destroyed and lost forever.”

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UPFRONT

INTELLIGENCE CORPORATE ACQUIRER

TARGET

PRODUCTS COMMENTS

Alera Group

Sylvia Group

All Sylvia Group employees will continue to operate out of the firm’s existing office in Dartmouth, Massachusetts

AssuredPartners

Star & Shield Insurance Services

Star & Shield’s Tallahassee-based team will remain under the operational leadership of Frank Russo and Allyson Olver

Gallagher

Walsdorf Agency

The staff of the family-owned business will relocate to Gallagher's office in Jericho, New York

Heffernan Insurance Brokers

Henderson Insurance

Heffernan expects Henderson’s specialized expertise to enhance its niche practices

The Hilb Group

Wickford Insurance Agency

Under the management of agency leaders Chris Schneider and Derek Schneider, WIA employees will join THG’s Rhode Island operations

New York Life

Cigna group life and disability

New York Life has agreed to pay $6.3 billion for Cigna’s group life and disability business

NI Holdings

Westminster American Insurance Company

The acquisition further diversifies the lines and geographic footprint of NI Holdings’ portfolio of products

RenaissanceRe, Beazley unveil cyber catastrophe offering

Beazley has teamed up with RenaissanceRe to launch a new reinsurance product that provides Beazley with additional catastrophe cover for cyber events. The majority of the security behind the deal will be provided by capital sources structured by RenaissanceRe. The companies described the product as “one of the first cyber catastrophe insurance products backed by the capital markets” and noted that it will open up a new, larger source of capital to support Beazley’s cyber offering in excess of levels currently available in the traditional reinsurance market.

Gallagher snaps up New York agency

Gallagher has bolstered its real estate practice with its acquisition of Huntington, New York-based Walsdorf Agency. Founded in 1926, Walsdorf is a third-generation, family-owned commercial and personal lines agency with niche expertise in real estate. Following the acquisition, David L. Walsdorf, Louis J. Walsdorf and the agency’s employees will relocate to Gallagher’s office in Jericho, New York, working under Patrick Kennedy, head of Gallagher’s Northeast region retail P&C brokerage operations.

“The Walsdorf Agency has a great reputation in the market and will help us further expand and support our growing real estate practice,” said Gallagher chairman, president and CEO J. Patrick Gallagher Jr. “I am very pleased to welcome David, Louis and their associates to our growing global team.”

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InsuraGuest launches in-house insurance agency

Software as a service company InsuraGuest, which offers specialized insurance products for hotels and vacation rentals, has brought insurance sales in-house with the launch of InsuraGuest Insurance Agency. The agency is licensed to sell guest protection insurance in 16 states, and InsuraGuest expects to receive approval to sell in the remaining 34 states in the third quarter of 2020. InsuraGuest’s API integrates with more than 70 different property management systems, allowing hotels and vacation rental operators to offer guests coverage for the duration of their stay.

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PEOPLE Generali introduces cover for portable electronics

The specialty insurance division of Generali USA has launched insurance for portable electronics. Because it covers typical risks and issues device owners experience, such as theft and malfunction, the policy is applicable to a wide range of portable electronic devices, including mobile phones, tablets, gaming devices and even hearing aids. For the latter, Generali has partnered with My Essentials, one of the largest networks of hearing device dealers in the US. Generali’s Jose Luis Menéndez said the company will look into expanding the coverage to other portable electronic products in the future.

Uber taps Liberty Mutual to cover drivers

Uber has selected Liberty Mutual Insurance to provide coverage for its drivers and passengers in New England, South Carolina and Puerto Rico.

Liberty Mutual will offer specific coverage from the time Uber drivers open the app and are waiting for a request until the completion of the trip or delivery.

“Our dedicated sharing economy and new mobility practice allows us to continue successfully insuring ride-hailing, vehicle-sharing, car subscription, delivery services and autonomous vehicle companies,” said Nicholas Grant, vice president of product technology solutions at Liberty Mutual.

One80 Intermediaries enters the market

National wholesale insurance broker and program manager One80 Intermediaries has formally launched its business. Based in Boston, One80 offers placement services and binding authority for P&C, financial lines, personal lines and medical stop loss risks. The firm provides both wholesale placement and in-house binding services and serves all industry classes. One80 is led by industry veteran Matthew Power, who previously served as executive vice president of Lexington Insurance Company and president of Risk Specialist Companies.

NAME

LEAVING

JOINING

NEW POSITION

Stephen Cali

Gilsbar

Hub International

Senior vice president and senior benefits consultant

Sharon Edwards

N/A

Risk Strategies

Chief operating officer

Joe Ehrlich

Owens Group

Beecher Carlson Insurance Services

National practice leader, private equity, family office and M&A

Tom Fitzgerald

Aon Risk Solutions

QBE North America

President, specialty and commercial

Brad Lontz

California Dental Association

CopperPoint Insurance Companies

Senior vice president and chief information officer

Michael Miller

N/A

Brightway Insurance

President and CEO

Matthew S. Mitchell

N/A

The Hanover Insurance Group

President, middle-market business

Jennifer Rubin

Hiscox

Liberty Specialty Markets

Senior underwriting executive and terrorism underwriting head, North America

Douglas Ruhlman

AIG

Brit Global Specialty USA

Assistant vice president, cyber

Peter Zaffino

N/A

AIG

President

Zaffino named president of AIG

The new year has brought a wider remit for Peter Zaffino, who became president of AIG in January on top of his global COO and general insurance CEO positions. Zaffino joined AIG as executive vice president and global COO in 2017.

Within a few months, he was named CEO of AIG’s general insurance business.

“I am honored to take on the additional role of president of AIG and appreciate the confidence [CEO] Brian [Duperreault] and the AIG board of directors have in me,” Zaffino said. “I look forward to continuing to work with our dedicated colleagues across the organization on our journey to become the leading insurance company in the world, known for its strategic value, operational excellence and strong financial performance.”

LSM creates new terrorism underwriting role

Liberty Specialty Markets (LSM) has brought in Hiscox USA veteran Jennifer Rubin to take on the newly created role of senior underwriting executive and head of terrorism underwriting in North America. Based in New York, Rubin brings nearly two decades of experience in the sector.

“Jennifer will provide leadership to various underwriting lines,” said Alex Montoya, president of US, Bermuda and Latin America for LSM. “Her initial focus will be on our North America war and terrorism team, which has seen a significant increase in US terrorism submissions.

Jennifer’s leadership will enable us to provide bespoke solutions to satisfy that growing demand.”

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UPFRONT

WORKERS’ COMP UPDATE NEWS BRIEFS Omaha National names three new agency partners in Nebraska

Workers’ compensation insurance and payroll service provider Omaha National has teamed up with three agencies in its home state of Nebraska: Dodge Partners Insurance, INSPRO Insurance and Kingdom Insurance. “We are pleased to partner with these agencies because of their excellent reputations for customer service and strong commitment to business growth,” said Chris LaMantia, Omaha National’s chief marketing officer. “It’s exciting to offer superior workers’ compensation and payroll services at competitive prices to employers in our home state.”

Midlands Management adds new broker to Dallas team

Excess workers’ comp specialist Midlands Management Corporation has appointed Michael Robbins as a Dallas-based broker, responsible for the solicitation of new and renewal commercial business for large and complex accounts. Robbins has more than 10 years of insurance industry experience, including several years as a commercial producer for a retail agency. “My entire career has been spent in the insurance industry, and I look forward to continuing that by providing best-of-breed solutions to our agency partners and their insureds,” Robbins said. “There is no limit to our collective success.”

Pie Insurance expands its offering to New Jersey

Digital insurer Pie Insurance has expanded its workers’ compensation coverage to New Jersey, making its offering available in 32 states and the District of Columbia and putting the company on track to reach its goal of

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offering coverage from coast to coast in 2020. Pie Insurance hopes its quick online quoting and reasonable prices will encourage employers to secure necessary workers’ comp coverage.

“The response we’ve received from business owners says that it’s working,” said founder John Swigart. “We’re proud of what we’ve built and who we’ve built it for – and we’re excited to extend our offering to New Jersey’s many entrepreneurs.”

Massachusetts firm ordered to pay restitution over fraud

Massachusetts-based Expert Medical Evaluators International, which provides functional capacity evaluations (FCEs), has been ordered to pay $30,000 in restitution to Texas Mutual Insurance Company after pleading guilty to fraud. According to Texas Mutual’s investigation, unlicensed providers Marcos Ricoy and Enrique Colon performed the majority of the company’s FCEs and reported that the evaluations took the maximum of four hours to perform. However, investigators found that face-to-face time with injured workers was significantly less than what was billed to the insurer.

Preferred Employers Insurance gets new president

Dennis Levesque has been appointed president of California-based workers’ compensation insurance provider Preferred Employers Insurance, a member company of W. R. Berkley Corporation. Levesque succeeds Steven Gallacher, who had served as president since 2010 and is now the company’s chairman. Boasting more than 30 years of P&C insurance industry experience, including extensive knowledge of the California market, Levesque most recently served as president of the regional insurance segment for a major US insurer.

Midlands joins forces with Safety National Midlands Management Corporation has expanded its capabilities by way of its acquisition

by Safety National

Last year was an important one for Midlands Management Corporation. Not only did the workers’ compensation insurance specialist make several key moves to meet market demands and enhance its capabilities, but it was also acquired by Safety National Casualty Corporation. Following the deal, which was finalized in early January, Midlands became a wholly owned subsidiary of Safety National and a member of Tokio Marine Group.

Midlands CEO Charles Caldwell told IBA that the transition had been a seamless one.

“Any time you change systems, there’s a great amount of training and some stress, but I have to say, it’s gone very easily, and the training that we’ve received from the folks at Safety National has just been unbelievable,” he says.

Caldwell adds that there are crucial benefits to being under the umbrella of a big name in workers’ compensation, including increased clout and the ability to offer clients and employees better solutions.

“It’s a suite of services and extended services that we could only dream about in the past that we can now provide clients – and the same goes for the benefits to our employees,” he says. “Part of the attraction was that Midlands would remain autonomous and we would operate as Midlands as we had in the

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past and continue the brand as part of Safety National, so it’s been a great thing for our clients, as well as our employees.”

Because much of Midlands’ work focuses on excess workers’ comp, its leadership team is continuing to keep an eye on the market.

“Our core business is excess workers’ comp, and we’re seeing continuing softening of primary rates, which has an effect on our excess programs,” Caldwell says. “We

“It’s a suite of services that we could only dream about in the past” mostly write catastrophic coverage or excess of substantial retentions, so we’re involved only in handling the catastrophic losses – severe injuries – and the pricing and the cost of having those injuries has not decreased, it has increased.”

However, the support of Safety National has given Midlands a leg up in helping its clients navigate and avoid tough claims.

“Loss control and risk management are a big part of our offerings, and we have dedicated loss control people who work with our clients and work with various TPAs in providing driver training and other loss control aspects to help to create a safe environment,” Caldwell says. “Now, with the Safety backing … our loss control programs are second to none.”

Q&A

David Widener Director of claims advisory services THE AMERICAN EQUITY UNDERWRITERS

Years in the industry 16 Fast fact Before joining The American Equity Underwriters last year, Widener worked at the US Department of Labor, first as a claims examiner and then a district director

The complexities of longshore What prompted The American Equity Underwriters to create a claims advisory services division?

The American Equity Underwriters created the claims advisory services division as a way to continue raising the bar on its claims strategy. Longshore claims are often more complex than a standard workers’ compensation claim. This new division helps employers understand these nuances while we strategize on how to best navigate the claims resolution process in conjunction with the Department of Labor.

What claims trends is longshore workers’ compensation likely to see this year?

The continued development of opioid management programs.

We all know that overprescribing opioids can be addicting and dangerous, but here are some statistics that really tell the story: According to the DEA, 168 million opioid prescriptions were filled in 2018 – which is 51.4 prescriptions per 100 Americans. Research shows that just a 10-day supply can hook one in five people.

We’ve developed a robust program to manage the prescribing and use of opioids in claims. Informational letters are sent to injured workers, alerting them to the risks of opioid use; we flag claims in which there is overuse or possible dangerous interactions with other medications; and we flag claims that do not meet our custom formulary. In those cases, we contact the doctor to review the CDC guidelines and seek a plan to utilize other methods of pain management. Since implementing this program in 2016, we have achieved a 69% decrease in total opioid spend; our spend decreased 37% from 2018 to 2019 alone. All of this translates to better and safer recoveries for injured workers.

What are the biggest challenges for claims adjusters?

USL&H can be a complicated system and, in many ways, is vastly different from the state workers’ compensation arrangement. Case law drives many of the changes, and, being a federal system, claims are subject to the Circuit Court of Appeals in which the case resides.

Accordingly, compensability decisions can vary greatly when a claim is being handled in the 9th Circuit in California versus the 5th Circuit in the Gulf Coast. USL&H adjusters must continually educate themselves on the rulings and trends in the specific geographic areas in which they handle claims.

How is technology impacting workers’ comp claims?

Technology is picking up the pace of claims handling. Claims can now be reported electronically in real time. As a result, initial investigations are completed more quickly, and there is less of a lag in benefit payments. We utilize pharmacy benefit managers and electronic communication with medical providers to reduce wait time for prescriptions and treatment authorizations. All these advances ultimately lead to a quicker claims resolution.

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UPFRONT

TECHNOLOGY UPDATE

The rising stars in insurance technology Analytics and blockchain are proving to be some of the industry’s most promising tech developments

limited data sources.

“Now, they’ve opened that up to five, 10, 15, 20 different data sources that they’re putting into the product,” Lehman says.

The second area of useful innovation, according to Bramblet, is distributed ledger technology – aka blockchain – which he sees gaining steam across the industry.

“That technology and that platform is going to provide an opportunity for a lot more transparency around risk through all parts of

“Companies can do a lot more with data than they have in the past”

The world of insurance is changing as new ways of doing business are making their mark on the industry. The recent Impact InsurTech report from QBE North America and Village Capital noted that innovations like process automation, artificial intelligence and blockchain are making insurance processes more efficient, increasing both the affordability and accessibility of insurance. While there’s a lot to unpack in this growing field, some experts see certain technologies rising to the top.

“There are probably two big buckets where

NEWS BRIEFS

we see pretty universal application across insurance value chains,” says Jim Bramblet, Accenture’s insurance practice lead in North America. “I think one is around analytics, AI and machine learning, and where and how those apply in the value chain.”

Matt Lehman, Accenture’s North America property & casualty lead, adds that many insurance companies have expanded their data sets to include social media and satellite imagery data, whereas just a couple of years ago, most companies relied on comparatively

Willis Towers Watson teams up with eBaoTech

Willis Towers Watson and Shanghai-based eBaoTech have come together to create a middle-office platform that aims to help insurers, brokers, agents, MGAs and insurtechs to handle the highvolume, high-speed nature of today’s digital insurance marketplace. The collaboration integrates WTW’s rating engine, Radar Live, with eBaoTech’s middle-office platform, InsureMO. Based on cloud-native architecture, the platform contains a full set of insurance micro-services across several lines and processes.

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the P&C sector – so personal lines, vehicles and homes, but also supply chains, goods in transit and fundamental risks that become more transparent,” he says. “A lot of that can be pushed onto the platform, and insurance companies can subscribe to and do a lot more with that data than they have in the past. Now, it’s still very nascent, but certainly something we’re paying close attention to.”

Notable advancements on the blockchain front in recent years include Marsh rolling out a proof of insurance blockchain program to commercial clients, a blockchain pilot from AIG and London-based bank Standard Chartered that aimed to simplify complicated insurance policies, and the adoption of blockchain platform Insurwave by the marine industry.

Volvo Financial Services invests in REIN

Volvo Financial Services, the automaker’s global captive finance arm, has invested in insurtech startup REIN in a bid to deploy connected insurance services to the commercial transport industry. “We recognize that new financial technologies are changing our customers’ priorities and presenting opportunities to improve performance,” said Volvo Financial Services president Scott Rafkin. “REIN’s data-focused approach aligns with our commitment to adopting new solutions that reduce total cost of ownership and support driver safety.”

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14/02/2020 3:55:02 AM

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PRECISION PERSEVERANCE WIN THE DAY

Congratulations to Webb Simpson, winner of the Waste Management Phoenix Open and proud member of Team Burns & Wilcox. He is proof that determination and skill can overcome even the toughest challenges. burnsandwilcox.com

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14/02/2020 3:55:04 AM

UPFRONT

TECHNOLOGY UPDATE Q&A

The unwanted tech effect Laird Rixford CEO INSURANCE TECHNOLOGIES CORPORATION [ITC]

Years in the industry 18 Fast fact Legislation such as the California Consumer Privacy Act, which went into effect on January 1 and is being touted as the nation’s first broad data privacy law, hammers home the need for companies to take cybersecurity seriously

As companies continue to incorporate more technology, how big of a challenge has cybersecurity become?

The majority of new technology is built around the idea of improving connectivity between people and data. This means open systems that provide easy access to information, which can create possible attack vectors that bad actors can use to compromise a company’s security.

Often, this technology is implemented touting how the collaboration will maximize efficiency while ignoring the security aspect. With the growth of AIbased technology solutions and the Internet of Things, the risk for cyberattacks not only grows in frequency but severity as well. A cybersecurity incident is not a matter of if, but when.

Further, with the arrival of the California Consumer Privacy Act, companies are more liable than ever when it comes to customer data being exposed in a data breach. Companies should take the appropriate actions to mitigate their risk.

What do companies need to consider if they want to stay safe while using technology?

Companies need to take a security-first mindset when selecting their technology software-as-aservice vendors. The question they should ask after “What does it do?” should be “How is it protected?”.

Additional questions to ask: Does the system have advanced security features such as salted passwords, two-factor authentication and lockout protection?

Does the system provide regular security updates?

What is the vendor’s incident response plan?

Being aware of these details helps business owners

Aon finalizes CoverWallet acquisition

New York-based SME insurance platform CoverWallet has officially become a member of the Aon family as a division of its new ventures group. The completed acquisition, which was first announced in November, will allow Aon to expand its position in the commercial insurance market for small businesses and leverage CoverWallet’s technology and data and analytics capabilities. “We’re ready to begin working together to strengthen and expand the application of their digital client experience,” said Aon CEO Greg Case.

18

be proactive when it comes to security instead of reactive. Once a company purchases the technology solution, the attention to security must continue by making sure that the users adhere to strict company guidelines.

How do all of these advancements impact insurance?

As systems become more collaborative, securing them will become a greater challenge. When companies adopt more of this technology, the number of possible attack vectors increase. Meanwhile, insurance agents and companies deal with a high degree of personally identifiable information, making them a specific target for cyberattacks.

Insurance agents and carriers must not only be aware of how this impacts their business, but also their customers’ businesses. Are they securing their systems appropriately? Do they have the correct cyber and technology coverages for their businesses?

How will they detect vulnerabilities? How will they plan to respond to incidents?

What trends are we likely to see in the tech/ cyber space this year?

While cyber and technology have been part of the conversation for years, current and upcoming legislation, such as GDPR and the California Consumer Privacy Act, will again put a spotlight upon the amount of data collectively held by the insurance industry. As consumer interest in privacy grows and cyber threats loom large, renewed interest in securing this data will be the primary trend we will see in 2020 and beyond.

Argo Marine rolls out platform for contractors

Argo Marine has introduced Contractors Equipment Express, a streamlined rate, quote and bind platform for smaller risks. The system provides instant quotes without requiring a schedule of equipment and automatically generates policy materials. “We distilled the quote process to five key questions and made it very simple and quick for a broker to input the required information,” said Argo Marine head Dave Higley. “The forms are preloaded, and the broker receives an immediate policy as soon as they submit the information.”

Digital auto insurer Clearcover raises $50 million

Chicago-based digital car insurance provider Clearcover has raised $50 million in Series C funding. Clearcover plans to use the new capital to continue building the machine learning technology it uses to offer customized auto insurance coverage to customers. The new funds will also be used to accelerate the company’s growth in new states; integrate additional distribution channels in the automotive and financial services space; and expand its workforce in product, engineering and data science.

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PEOPLE

INDUSTRY ICON

A BOOMING BUSINESS As CEO of Worldwide Facilities, Davis Moore has led the wholesaler through a period of exponential growth. He talks to IBA about the many steps that were needed to reach this summit

AS AN INSURANCE veteran who has been outspoken about talent recruitment and advocating for the development of younger generations, it’s no surprise that Worldwide Facilities CEO Davis Moore got his start in insurance as an intern. At that time, he was working for a carrier on the East Coast, but soon after the internship ended, he got the opportunity to add global experience to his résumé.

“I moved to London to work in the Lloyd’s of London marketplace as a Lloyd’s broker,” Moore says. “When I returned to the US, the insurance market was firming, and it was a great time to start at Worldwide Facilities as a wholesale broker.”

Over the coming years, Moore climbed the ranks at Worldwide Facilities, becoming president and later CEO. As he led the company through the 2000s, Worldwide Facilities added high-quality producers and leaders, developing a strong foundation to build upon. Moore points to other key moments that helped shape the organization into one of the largest wholesalers in the country.

“In 2005, we made a decision to expand the ownership of Worldwide internally at a time when very few wholesalers believed in that business model,” he says. “At that time, we were a $200 million premium business. Since then, we’ve gone broader with new equity holders and deeper with existing equity holders.”

In 2015, Worldwide Facilities formed a growth plan and put it into action, bringing in Lovell Minnick Partners as a private equity

20

partner to help grow and diversify the business. This move, along with many others that Moore and the leadership team have made in recent years, has certainly paid off.

“We executed on our plan and have grown to a $1.8 billion premium business, on our way to the $2 billions,” Moore says. “In the third quarter of 2019, we partnered with Genstar Capital, which is a very well-respected and knowledgeable private equity partner in the insurance distribution space. Along the way,

All about culture In 2018, Worldwide Facilities recorded significant growth, going from 320 employees and $845 million in GWP to more than 700 employees and $1.5 billion in GWP. Through it all, the company maintained its core culture, which acts as a draw for business owners and young professionals who are looking for partners or career opportunities.

“We believe the collaborative and inclusive culture we’ve created is an attractive attri-

“We’re not reliant upon one single strategy ...

We can pursue M&A, recruiting, developing our own next generation and existing producer groups through our professional development initiatives – all in an effort to execute on our growth strategy” we invested in producers who did not have books before coming to Worldwide, who are now very successful and well-respected in our industry.”

Underscoring all of these factors has been best-in-class leadership and management.

In fact, Moore says the most meaningful moments in his career include working with these teams to build and continue to grow Worldwide Facilities.

bute when considering Worldwide as a future partner,” Moore says, adding that the company has multiple growth levers, which helps to differentiate it from the competition. “We’re not reliant upon one single strategy, such as M&A or organic growth. We can pursue M&A, recruiting, developing our own next generation and existing producer groups through our professional development initiatives – all in an effort to execute on our growth strategy.”

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PROFILE Name: Davis Moore Title: CEO Company: Worldwide Facilities Based in: Los Angeles Industry involvement: Moore is currently on the WSIA board of directors and has a long history of involvement with the association, dating back to its days as NAPSLO

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PEOPLE

INDUSTRY ICON

The list of companies that Worldwide Facilities has acquired includes Benchmark Management Group and Risk Management Advisory Group in 2019, and Draco Insurance Solutions, McClelland & Hine/McClelland & Hine Trucking Underwriters, RIC Insurance General Agency, The Sullivan Group, and Tennant Risk Services in 2018. When looking for acquisition opportunities, culture is again front and center.

“If there isn’t a match within culture, it’s not an acquisition opportunity that we pursue,” Moore says. “We’ve averaged doubledigit organic growth for the past several years.

business, and we believe specialization is absolutely necessary to not only survive, but thrive in current times. Our producers are asked to specialize in specific lines, whether it’s casualty, property, financial lines or programs.”

In fact, Worldwide Facilities takes it one step further, encouraging producers to specialize in industry verticals within those lines to encourage collaboration and cross-selling and bring the best possible resources to customers.

Developing new talent is another key piece of the puzzle. Moore says the Wholesale & Specialty Insurance Association, where he’s currently on the board of directors, has played

“When we pursue acquisition opportunities, we evaluate ... how one and one can equal greater than two” When we pursue acquisition opportunities, we evaluate how the combined businesses can help each other improve – i.e., how one and one can equal greater than two. This approach only works if the business we’re acquiring understands the benefits of organic growth.

We also believe that acquisitions need to be good for all of our constituents, including our employees, customers, markets and, of course, our equity holders.”

Not just survive, but thrive While the past two years have brought rapid expansion to Worldwide Facilities, they’ve also marked the beginning of a changing and firming insurance marketplace. With rates hardening and capacity shrinking, there’s more demand for wholesalers and specialty distributors. In this environment, Moore believes specialization trumps generalization.

“With our highly specialized teams, product offerings and relationships with markets, we believe we’re well positioned to provide value to our retail trading partners,” he says. “Specialization is a big part of our

22

an important role in driving career awareness and educating the next generation about insurance. Worldwide Facilities also has a robust professional development program that includes on-the-job training, mentorship and sales training. As a result, a number of people who participated in the program have become producing brokers with their own books of business.

To ensure that Worldwide Facilities remains at the top of its game, Moore and the leadership team plan to continue expanding and diversifying the business to stay relevant with customers for years to come.

“This year marks the 50th anniversary of Worldwide Facilities, and we enter this new chapter with a strong commitment to our growth initiatives and continued dedication to our customer relationships, market affiliations and development of our employees,” Moore says. “Over the last 50 years, we have built a great foundation in an industry that has a bright future. I remain absolutely confident that Worldwide Facilities’ best years are in front of us.”

WORLDWIDE FACILITIES BY THE NUMBERS

1970

Year Worldwide Facilities was established

5th

The company’s rank among the largest wholesalers in the US

700

Number of employees

30+

Number of offices nationwide

$1.5 billion

Worldwide Facilities’ GWP in 2018

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UPFRONT

OPINION

GOT AN OPINION THAT COUNTS? Email iba@keymedia.com

Call to action The insurance industry has an important role to play in helping communities weather increasingly severe wildfires, writes Dr. Alexandra Syphard FROM CALIFORNIA to Australia, wildfires have had a rapidly escalating social, economic and ecological impact in recent years. As wildfire-related losses accelerate, there is an increasing need to create fire-adapted communities, where ecologically functional levels of wildfire are preserved but risks to human lives and property are minimized.

This is a complex objective, one that will require widespread and decentralized action, and questions remain as to when and how such a transformation could take place. Not only does coexistence with wildfire depend upon a range of planning efforts pre-fire, but the period following a destructive wildfire may provide a ‘hot moment’ for community adaptation. Thus, the time for action – and the time for the insurance industry to join the conversation – is now.

Today’s rapidly mounting wildfire losses and changes to wildfire frequency and severity pose an ever-growing challenge for fire managers, planners and residents of wildfire-prone environments. By extension, that also means challenges for the insurance industry.

Many stakeholders – local governments, communities and residents – are responsible for ensuring wildfire preparedness, response and recovery. These stakeholders often hold competing interests and may lack understanding of current wildfire science. Unless all stakeholders find a way to work together, these competing issues could impede successful adaptation and sustainable coexistence with wildfire.

Scientific research suggests that solutions can be optimized and prioritized to attain mutual benefits, balancing maximum community safety with minimum ecological impact. The most effective solutions will vary based on environmental context. In

addition, multiple solutions will need to be implemented simultaneously, with active coordination and communication among all stakeholders, and the insurance industry will become an increasingly important part of pursuing cooperative solutions.

As insurers, we can help our insureds prepare effectively for wildfire events by encouraging and incentivizing fire-safe landscaping and homeowner mitigation practices.

We can also promote sustainable and fire-safe communities in general by educating insureds on relevant and recent scientific developments. And of course, we play a crucial role in

period is a logical time to institute changes to make communities more fire-adapted.

It’s in our collective best interest to ensure that rebuilding happens in a measured and informed manner that emphasizes long-term safety and quality of life in equal measure. It is incumbent upon us to ensure thoughtful, localized decisions are made when it comes to rebuilding, landscaping or vegetation management strategies.

Consider this your call to action. All stakeholders’ needs can be balanced via a linked social-ecological model of community recovery and adaptation. Given the complex and coupled ways in which ecological and social systems respond, recover, and change over time, residents, fire managers, and local policy professionals must work together to reduce future wildfire vulnerability through both prevention and recovery. It is essential that the insurance industry be part of this effort. This begins with initiating and participating in conversations about the smartest and safest ways to rebuild.

The balance between timeliness and long-

“Our collective efforts can lead to a mutually beneficial solution, and we must be ready to act immediately following wildfire destruction” post-fire communication and support.

Mass care, temporary housing and infrastructure repair consume the attention of local emergency managers during the first weeks and months post-fire. While subsequent wildfire is unlikely, secondary hazards like flooding, erosion and debris flows can occur. The success of early-stage ecological recovery depends largely upon the environmental context, which includes precipitation patterns, the size and severity of the fire, and, in some cases, the time since the previous fire, as certain plant species require time to regenerate between fires.

Given the potential for heightened public buy-in and increased financial resources for wildfire risk reduction via private insurance payouts and publicly supported recovery programs, the post-fire recovery

term effectiveness will always be a delicate one, and competing interests are such that no one industry can (or should) solve this issue alone.

But our collective efforts can lead to a mutually beneficial solution, and we must be ready to act immediately following wildfire destruction.

Disasters can catalyze political and public will to harden infrastructure, revise land use regulations and create new collaborative networks for risk reduction. With the 2019 wildfire season behind us and the 2020 season looming on the not-too-distant horizon, the time for action is now.

Dr. Alexandra Syphard is chief fire scientist for Sage Insurance Holdings and a leading academic in the field of fire science and ecology. She was recently appointed to the California Wildfire Safety Advisory Board.

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14/02/2020 5:18:46 AM

SPECIAL REPORT

TOP PRODUCERS

2020

TOP

TOP

2020

PRODUCERS IBA celebrates 90 standout producers who represent the top tier of the US insurance industry TOP PRODUCERS INDEX NAME

COMPANY

Karl W. Henley

SeibertKeck Insurance Partners

43

Craig Hilton

The Buckner Company

53

Joel Hirschfeld

Hirschfeld & Associates

36

Parker Holt

Higginbotham

54

Charles Humphrey

Harmon Dennis Bradshaw

40

32

Matthew David Hunter

Reliance Risk Management & Insurance

40

Insurica

47

Ashley Hurd

AssuredPartners

26

Will Denbo

Commercial Insurance Associates

29

Katie Jackson

Acentria Insurance

41

Marcus F. Eagan

Eagan Insurance Agency

29

Todd Jackson

Bolton & Co.

52

Michael P. Egan Jr.

The Selzer Company

48

Robert Jellen

Hub International

26

Timothy P. Esler

Fenner & Esler Professional Liability

30

Chuck Jennings

Acentria Insurance

51

Zak Fanberg

Eagan Insurance Agency

41

Brian K. Johnson

Fisher Brown Bottrell Insurance Agency

26

30

John Gaynier

RogersGray

40

BĂŠat Koszinowski

The Buckner Company

29

IMA Financial Group

34

Dustin Glover

Threlkeld & Company Insurance

53

Kyle Kozel

Lakenan Insurance

27

Brown & Brown Insurance

30

Mark Gresser

Gallagher

27

Phillip Lane

Insurance Office of America

47

NAME

COMPANY

NAME

COMPANY

Clinton Anderson

Hub International

37

Alexander H. Carothers III

Harmon Dennis Bradshaw

54

Lori P. Augustyniak

Horizon Insurance

35

Allen Chapman

Hub International

38

Jon Axel

The Liberty Company

41

Leroy Christiansen

Gulfshore Insurance Agency

33

Carrie Babij

Desert Insurance Solutions

30

David W. Clausen

Coastal Insurance Solutions

55

Jeff Bajza

AmeriFlood

38

Paul Cohen

Hub International

52

Frank Barbella

Solv Risk Solutions

46

Jerry Darnaby

Hub International

Jacob Barzivand

Paramount Exclusive Insurance Services

54

Dave S. Deardeuff

Michael Beck

Specialty Comp Insurance Solutions

33

Jennifer Berry

BKS Partners

28

Brendon Bock

Marsh & McLennan Agency West

52

Jonathan Brooke

Acentria Insurance

55

Shawn Budney

Acentria Insurance

Jason Buehler James T. Carl

24

PAGE

PAGE

PAGE

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14/02/2020 4:52:57 AM

METHODOLOGY

FOR THE SIXTH year in a row, Insurance Business America is highlighting the best-performing insurance professionals from around the country.

These 90 insurance brokers collectively earned $160.4 million in commission revenue in 2019. Five producers crossed the $4 million mark on their own; one even cracked $10 million.

While the majority of this year’s Top Producers are veterans with more than 11 years of experience, the 2020 group also contains a solid showing by individuals new to the industry. From entertainment industry specialists to transportation experts and real estate gurus, these 90 men and women shared with IBA the strategies and career lessons that helped them generate truly impressive numbers over the past year.

NAME

COMPANY

PAGE

Mark N. Lee

Higginbotham

Renee Licata

To qualify as a Top Producer, producers must have achieved at least $750,000 in commission revenue in 2019, composed of at least 50% commercial P&C business, and have demonstrated year-over-year growth. Each nominated producer was required to provide specific details about his or her business to be eligible. Producers whose 2019 commission revenue exceeded the $3 million mark were named Platinum Producers.

WHAT DOES A TOP PRODUCER LOOK LIKE?

460

YEARS IN THE INDUSTRY

Average number of clients

814

Fewer than 5 years 4% Six to 10 years 15% 11 to 20 years 42% 21 to 30 years 18% 30+ years 20%

Average number of policies written

$1.8 million

Average commission revenue

WHERE TOP PRODUCERS WRITE BUSINESS Regional 43%

National 45%

TOP THREE REGIONS

Multinational 12%

Texas

Florida

NAME

COMPANY

PAGE

35

John Penton

Truck Writers

Haylor, Freyer & Coon

39

Joseph Peplinski

Alka Manaktala

IOA Insurance Services

51

Phillip Masi

AssuredPartners

31

Jeff McIntosh

Energy Insurance Agency

48

Frank J. McMackin IV

Gallagher

36

Bob Middleton

Maury, Donnelly & Parr

42

David Mehlbaum

M&T Insurance Agency

39

Dan Morton

USI Insurance Services

50

Ryan Moss

Higginbotham

31

Nick Napolitano

M&T Insurance Agency

50

Brad Nielson

The Buckner Company

44

Brett Nilsson

The Buckner Company

42

Vik Patel

Acentria Insurance

36

Brian A. Payne

Field Insurance Agency of Surfside

34

Southeast

NAME

COMPANY

PAGE

46

Ryan Stringham

The Buckner Company

50

Haylor, Freyer & Coon

32

Mark V. Stuart

Brennan & Stuart

28

JD Powers

Powers Insurance & Risk Management

46

Ray Suatoni

M&T Insurance Agency

55

Timothy R. Powers

Missouri General

43

Peter R. Taffae

ExecutivePerils

31

Richard M. Terlecki

Gallagher

32

Thomas K. Quick

Hub International

47

Dustin Thome

The Buckner Company

36

Sean Rabinowitz

ACBI Insurance

53

Christopher F. Trapani

Eagan Insurance Agency

38

Justin Robinson

The Buckner Company

41

Ken Tucker

NFP

51

Dillon Rosenhamer

Insurica

44

Ryan Von Haden

TRICOR Insurance

35

James S. Russell

Texas Associates Insurors

38

Tim Wahl

Acentria Insurance

35

Kyle Schielack

Higginbotham

44

Russ Wardlaw

Insuramax

34

Brian Schneider

Higginbotham

27

Eric Weiser

AssuredPartners

28

Jonathan Schreter

Bolton & Co.

49

Gary Wells

The Liberty Company

39

Negar Sharifi

AssuredPartners

43

Larry Wier

AssuredPartners

45

Ben D. Smith

Higginbotham

48

Sam Zaiser

Marsh & McLennan Agency

42

Todd Sorrell

Fifth Third Insurance

45

Chris Zehnder

Wood Gutmann & Bogart

53

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14/02/2020 5:28:03 AM

SPECIAL REPORT

TOP PRODUCERS

ASHLEY HURD Senior account executive ASSUREDPARTNERS

BRIAN K. JOHNSON Senior vice president FISHER BROWN BOTTRELL INSURANCE AGENCY

Brian Johnson began his career as a management trainee with Trustmark National Bank in 2006 and joined Trustmark subsidiary Fisher Brown Bottrell Insurance the following year.

Today, Johnson manages more than $2 million in annual commercial P&C revenue and serves as a risk and insurance advisor in several specialty areas, including nonprofits, educational risks, manufacturers and surety support for contractors. This is his third appearance on IBA’s Top Producers list, and he’s also a member of several boards and groups in Mississippi and beyond.

“One of the biggest lessons I have learned during my career is you have to give the people what they want,” Johnson says. “In this business, you must perform and implement the risk management solutions your customers need in order to help them achieve their organizational goals and objectives. If you don’t, there will always be a possibility for that customer to seek risk management solutions elsewhere.”

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Ashley Hurd got his start in insurance in 1981 and spent 13 years as a general commercial lines producer. During this time, Hurd earned his CIC designation and, in 1994, “had the good fortune of

PLATINUM PRODUCER

ROBERT JELLEN Managing director – entertainment HUB INTERNATIONAL

Robert Jellen started his career in 1967 with Albert G. Ruben, where he served as president of the New York office.

While there, he created the first DICE package policy for television commercial

meeting Mike Hall,” who at the time was starting an agency “whose sole purpose was to provide insurance services for architectural and engineering firms exclusively ... [He] needed a producer to work the insurance operations while he continued to provide management consulting services.”

Together, Hall and Hurd worked to provide insurance products and services to a unique market. They became licensed in all 50 states and began marketing their services via direct mail and telemarketing, effectively writing policies to a large niche group. Meanwhile, Hurd earned his CRM designation and also obtained a surplus lines license.

“When you provide a valued service to your clients – not just great pricing, but a sincere interest in protecting their business interests – your clients will provide you with ample referrals,” Hurd says, “which in turn is quite helpful in the continued growth of your client base.”

production companies and helped build the agency into a top entertainment insurance brokerage. Over the years, Jellen has insured hundreds of movie and TV productions. In 1993, he introduced the television commercial wrap-up insurance program, which changed the way advertisers and advertising agencies purchase insurance for commercials.

In 2015, Jellen joined Hub International as managing director of the entertainment practice. “Thinking outside the box and providing creative solutions to my clients is key to growing my business,” he says. “Many insurance brokers just sell off-the-shelf policies. I develop manuscript wording and amend the terms, conditions, and perils insured, and provide far broader coverage at competitive pricing.”

Keeping in close contact with his clients and providing around-the-clock service are other ways Jellen gains and maintains business. “If you don’t service them 24/7, you don’t deserve to keep the business,” he says.

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14/02/2020 4:52:56 AM

TOP 2020

MARK GRESSER Area executive vice president GALLAGHER

Mark Gresser’s start in the insurance business came on the heels of two other careers: one in public accounting and a

BRIAN SCHNEIDER Managing director HIGGINBOTHAM

Brian Schneider joined Higginbotham nine years ago and has been recognized on numerous occasions for his strong

second as an executive of a construction firm. He says the 20-plus years of business experience he gathered before entering insurance has proven to be a huge asset in his pursuit of new business.

Nearly four years ago, Gresser sold his agency to Gallagher. Tapping into the resources of the global brokerage allowed Gresser and his team to differentiate themselves from other brokers across the spectrum of risk management. Since joining Gallagher, Gresser’s book of business has grown by more than 30%. In 2019, he expanded his team, bringing on a second construction niche P&C expert and a former surety underwriter.

“Our key strategy to grow the book is focused on team selling,” he says. “All new business is now co-produced with other like-minded, specialized professionals, which has allowed us to leverage contacts and referral sources I developed over the years with a team that can deliver on our promises.”

performance. “One of the key strategies to growing my business is finding ways to help my clients beyond insurance placement,” Schneider says. “When we are able to provide resources to better protect their business, we demonstrate added value in our partnership. The biggest accolade is the satisfaction I receive from helping clients manage their risk, and I credit my success to the mentors and the team I am surrounded by, who tirelessly work to exceed our clients’ needs.”

Schneider focuses on a variety of sectors, both nationally and abroad. He and his team use their comprehensive knowledge to help middle-market and large commercial clients navigate their insurance options, always striving to exceed client expectations and provide innovative solutions for risk management and risk transfer.

“Referrals continue to be the main growth strategy,” Schneider says, “by maintaining a strong work ethic and putting clients’ interests first.”

KYLE KOZEL Senior risk consultant LAKENAN INSURANCE

Kyle Kozel’s passion for the insurance industry has propelled his career and positioned his firm, The Kozel Group, as a sought-after risk management team. In 2019, The Kozel Group joined Lakenan Insurance in a strategic move to offer additional resources to its clients. In addition to traditional risk mitigation, Kozel is well versed in captive programs and risk purchasing groups – non-traditional insurance offerings that have given his customers access to options not previously presented to them.

“Recently, our agency has implemented niche-focused teams for our clients – now, each insured receives service based on their specific industry,” Kozel says. “This strategy has been instrumental in our growth plan and pays off decisively when an insured has a question.”

Kozel’s business has steadily grown by double digits annually. He attributes this success to his dedication and constant, accessible communication with clients throughout the policy cycle.

“The insurance landscape is changing quickly, and we have to persist in educating our clients on the demanding risks facing them to best position them for continued success,” he says.

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SPECIAL REPORT

TOP PRODUCERS

MARK V. STUART President BRENNAN & STUART

Brennan & Stuart began in 1956 as a family business and is currently led by Mark Stuart, who empowers his staff to maintain the agency’s reputation throughout the Midwest with quick and

ERIC WEISER President – Houston ASSUREDPARTNERS

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authoritative responses to clients’ requests for service and products.

“Setting up a business plan, including production goals and income levels for each year from age 25 to age 60, as well as developing a prospecting and referral discipline, are all important ways we grow our business,” Stuart says. “What it comes down to is selling solutions to prospects instead of an insurance policy.”

Currently doing business in more than 30 states, Brennan & Stuart provides all lines of insurance, including commercial, personal, employee benefits and financial services, with a strong focus on the mid-sized account market.

“Once you build your book of business to critical mass, long-term retention becomes the number-one priority,” Stuart says.

“We achieve this by establishing trust and removing insurance-related administrative tasks and headaches from our clients’ plates. Our average clients have been with us for 20-plus years.”

Eric Weiser joined the insurance business in 2012 and, from day one, has concentrated on understanding his clients’ core business, risks and future needs. “I take the time to work with them instead of selling to them and have been told I seem more like a trusted advisor than an outside vendor,” he says. “Behind my deep-rooted fulfillment from helping my clients and seeing them succeed is knowing that my back-office team excels in several industries, providing me the ability to deliver on my promises.”

Weiser believes education, determination and a commitment to serving others have been the keys to his success. A big change for him in 2019 was merging with AssuredPartners – a move that has helped propel his ability to deliver in the large P&C and benefits spaces. Weiser and his team also continue to provide trust, transparency and true partnership to further growth.

“I expect that my unique vantage point allows me to continue to drive change and instill empowerment in an industry that is ‘old’ in its culture,” Weiser says.

JENNIFER BERRY Managing advisor BKS PARTNERS

With 15 years of specialized experience in luxury yacht insurance, high-value custom homes, builder’s risk and complex asset ownership structures, Jennifer Berry provides risk management solutions for individuals, families and businesses. She strives to build long-term relationships with her clients by getting to know their work, family and passions, and she has helped many high-profile and affluent clients secure complex coverage for their most prized possessions.

Prior to becoming a founding colleague of BKS Partners in 2006, Berry served as a client advisor in Marsh’s luxury yacht practice. In addition to her private risk services, she maintains a surplus lines agent license and is experienced in commercial insurance. Berry has received BKS Partners’ True North Club Award for the past six years, recognizing her accomplishments in surpassing the firm’s growth goals. She became a managing advisor in 2014, earning her ownership in the company.

Active in the Tampa Bay community, Berry volunteers with Meals on Wheels and serves as a committee member for The Spring of Tampa Bay.

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14/02/2020 4:53:05 AM

TOP 2020

BÉAT KOSZINOWSKI Client advisor THE BUCKNER COMPANY

MARCUS F. EAGAN

With a focus on commercial and residential construction insurance, bonds, and real estate insurance, Béat Koszinowski’s clients include builders, developers, contractors, property owners and property managers. He holds CIC and CIRMS designations and, for many years, served as a board member for the Salt Lake Home Builders Association and the Utah chapter of the Community Associations Institute. He currently is a member of the UCCAI Legislative Action Committee.

“My approach to growing my book of business has been to specialize in a couple of niche items and strive to be the very best at them,” Koszinowski says.

“Knowledge is power; it’s important to stick to what you know and never stop learning. I also believe it’s important to never underestimate the value of a team – the quality of help can make or break a business.”

Koszinowski credits his growth in 2019 to referring business to his centers of influence and learning to trust his team more. “Hard work is important, but it’s equally as important to work smart,” he says.

Vice president EAGAN INSURANCE AGENCY

Marcus Eagan is part of the fourth generation of his family to become a vital member of Eagan Insurance Agency, joining the business in 2002 after earning his degree in business administration from the College of Charleston. Two years later, Eagan earned his CIC designation, followed by his CRM designation in 2008.

He specializes in risk management and insurance placement for large property risks, marine and construction clients. This is his fourth consecutive appearance on IBA’s Top Producer list, and he was also named to IBA’s Hot 100 in 2018 and 2019.

“As an agent, and as an agency, we always keep the client’s interest front and center, providing them with the resources – service, claims management, risk management – they deserve,” Eagan says of his success in growing his book of business. “As a team, we work with our clients to navigate the insurance process and provide them the information to make the transaction as seamless as possible.”

WILL DENBO Managing partner COMMERCIAL INSURANCE ASSOCIATES

For nine years, Will Denbo has been a force at Commercial Insurance Associates (CIA). He joined the team after working in London as a property insurance broker at Besso Limited and has developed his practice around the needs of the environmental and recycling industries.

Currently, Denbo works with auto dismantlers and scrap metal, paper, plastics, and electronics recyclers across the US. He is an active member of the Institute of Scrap Recycling Industries and the Automotive Recyclers Association.

In addition to servicing his clients at a high level, Denbo has been a driver of growth and talent acquisition for his firm. The son of CIA co-founder Don Denbo, Denbo says that “while my father influenced my decision to throw the shot put and live in London, I have carved out my own unique niche of clients.”

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SPECIAL REPORT

TOP PRODUCERS TIMOTHY P. ESLER Principal FENNER & ESLER PROFESSIONAL LIABILITY

After spending nearly a decade in primary property & casualty insurance, including underwriting and marketing for a top 20 international insurance company, Timothy Esler joined Fenner & Esler Professional Liability in 1998 as a principal owner.

Since 1923, F&E has provided professional

SHAWN BUDNEY Vice president ACENTRIA INSURANCE

Shawn Budney has more than 18 years of insurance experience and specializes in the national multifamily and investment real estate sectors. Working extensively within the acquisition and development verticals, which encompass everything from REIT-related programs to high-hazard risk placement from international facilities, Budney says relationshipbuilding with clients and prospects has

JAMES T. CARL Senior vice president BROWN & BROWN INSURANCE

James Carl has been in the commercial insurance industry – and with Brown & Brown Insurance – since 2013 after working in the bail bonds industry. “Since I did not have years of experience on my side, I strove to be technically superior from day one,” Carl says. “Obviously that didn’t happen overnight, but what I could control was my dedication and willingness to succeed.”

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liability insurance and risk management to architects, engineers, surveyors and environmental professionals licensed throughout the US. As a principal of the agency, Esler is a recognized expert in the field, known for delivering optimal insurance rates to clients while providing excellent customer service.

More than 1,300 design professionals engage F&E, which has a 98% customer retention rate.

been key to his success.

“I enjoy conducting carrier negotiations as it pertains to thresholds, attachment points to layered programs, evaluation of proper insurable valuations and final pricing to ensure my clients receive the proper coverage at the best possible premium,” he says.

Upon entering the insurance industry, Budney hit the ground running and earned several accolades, including Acentria’s Top Gun, Running of the Bulls, Producer of the Year and New Business Producer of the Year awards. He was also an IBA Top Producer in 2017 and 2019.

“One of the biggest lessons I’ve learned during my career is to remain focused on my core values, work within industry sectors I’m interested in and always remain respectful yet persistent,” Budney says.

In 2015, Carl’s desire and focus drove him to bring in the most property & casualty revenue nationally by a rookie at Brown & Brown. He has had continued success each year, being named to Brown & Brown’s Retail President’s Circle and Tangle B Club. He was also named a Rising Risk Professional by RIMS in 2015.

“A primary focus of mine is workers’ compensation,” Carl says. “Since it’s arguably the most controllable line of coverage from a cost standpoint, I educate my prospective clients to really buy in to my process. It’s really rewarding to help prospects who have had claim frequency turn their program around and drive their costs down as clients.”

CARRIE BABIJ President DESERT INSURANCE SOLUTIONS

Prior to starting Desert Insurance Solutions, Carrie Babij worked for Allstate, Key Bank, Brown & Brown and Wells Fargo Insurance. Using her 20-plus years of experience, Babij established the office from scratch; today, Desert Insurance Solutions is a gold-standard broker in Palm Springs, California, and has also expanded to Scottsdale, Arizona.

To succeed, Babij believes agency owners need to know risk management inside out and have an uncompromising commitment to quality service. “My other elements of success include professional value proposition, time management, investing for the long term and getting the right people,” she says. “Create an internal pipeline of people who can step up and an external pipeline of people who can step in.”

Babij is also adamant about the need to have “a higher cause” to stay motivated. For her, that cause is helping high-potential single moms succeed by providing them the opportunity to develop meaningful careers and still have the workplace flexibility needed to raise their kids. Five of her employees are previously underemployed single moms who have become successful, respected insurance professionals.

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14/02/2020 4:53:23 AM

TOP 2020

PHILLIP MASI

PETER R. TAFFAE

Agency president

Managing director

ASSUREDPARTNERS

EXECUTIVEPERILS

When Phillip Masi started in the industry in 2005, he had no prior insurance or sales experience, and the Great Recession was just around the corner. Early on, he says, he learned that the key to success was to bring value to his clients, and the biggest value he could bring to the marketplace during those years was helping with property insurance placements following the 2004 and 2005 storm seasons in Florida.

Masi began focusing on the community association industry and went on to become president of his local Community Association Institute chapter, obtain his CIRMS designation, and create and teach property manager continuing education classes throughout Florida. Today, Masi insures more than 500 large condo associations, representing well over $7 billion in property values.

“Don’t over-complicate the insurance sales process,” Masi advises new producers. “If you just put the time in to learn the industry better than most agents, you will be successful in writing business within that industry. Once you build a reputation and a book of business inside that industry, it starts to become a self-fulfilling prophecy.”

Before starting ExecutivePerils, Peter Taffae was senior vice president and manager of the financial services

RYAN MOSS Managing partner HIGGINBOTHAM

department at Minet/Aon. He also spent eight years as senior vice president and manager of Marsh & McLennan’s FINPRO division and as Pacific South FINPRO regional coordinator, in addition to working at Chubb for five years.

“I am consistently learning lessons and making mistakes, and I learned a number of years ago that if you worry less about yourself and more about the client and underwriter, your life will be less stressful,” Taffae says. “Do the right thing, work hard and help as many people as you can, and you’ll be surprised how it comes back.”

In addition to his role at ExecutivePerils, Taffae is on the editorial board of Employment Practices Liability Consultant; a board member of the Digital Risk Underwriting Society; and a member of the National Association of Corporate Directors, the Professional Liability Underwriting Society, and the Aetna/ERMA national advisory committee. He was inducted into IBA’s Hall of Fame in 2018.

Ryan Moss opened his own independent insurance agency, The Essential Group, immediately after graduating from college in 1996. As president and owner, he ran the operations and sales teams, which focused on a niche group of businesses in the energy, marine and construction industries, in addition to providing home and auto coverage for the Houston suburb of Friendswood.

In 2010, Moss merged his agency with Higginbotham, where he currently serves as managing partner for the South Texas region. Moss and his team specialize in construction, energy, maritime and bond placements and have deep experience in helping middle- and large-market clients manage, analyze, control and finance risk.

“At the core of my success is a talented, dedicated, hard-working team that delivers an exceptional customer experience in the maritime, energy and construction silos,” Moss says. “Working with such gifted partners makes my job incredibly rewarding.”

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SPECIAL REPORT

TOP PRODUCERS

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RICHARD M. TERLECKI

JERRY DARNABY

Area senior vice president

Vice president

GALLAGHER

HUB INTERNATIONAL

Richard Terlecki joined Gallagher’s public sector division in 1999 after spending nearly 10 years as a municipal occupancy specialist and account vice president of sales in the public entities group at Arkwright Mutual Insurance Company (now FM Global). Nationally, Terlecki is one of very few individuals in the industry who have dedicated themselves to becoming experts in public entity property business.

“Insureds no longer have time to teach you their business,” Terlecki says. “One must be an educator and consultant and know where their challenges exist possibly even before they do. People do not buy for only two reasons: Either they are unaware that they have a problem, or they are aware they have a problem but aren’t concerned enough to do anything about it.”

A three-time member of IBA’s Top Producers list, Terlecki has spoken several times at the Airports Council International annual conference, has published several articles dealing with public entity insurance, and recently created and published a first-of-its-kind business interruption worksheet designed specifically for public entities.

After graduating from the University of Kansas in 1994, Jerry Darnaby began his career in the construction

JOSEPH PEPLINSKI Vice president, sales team leader – transportation HAYLOR, FREYER & COON

industry, ultimately becoming president and owner of Timberline Clearing. He sold the company in 2009 and started working in insurance, specializing in heavy construction and the railroad industry.

Darnaby attributes much of his success to developing a niche within an industry he previously worked in. “I have been through many of the situations my clients and prospects are currently facing and have been successful in helping them mitigate or solve those problems,” he says. He advocates for his clients by being involved with regional and state associations within the rail industry, as well as lobbying on behalf of the industry on the state and national level.

In 2019, Darnaby concentrated on getting more involved with his current clients, which led to several qualified referrals, ultimately resulting in a large increase in his existing book, along with several new clients in 2019 and more opportunities in 2020.

As a vice president and sales team leader in the transportation department at Haylor, Freyer & Coon, Joseph Peplinski takes a candid approach when talking with company owners about areas where they need to improve. “Having those tough conversations is being a true partner to those you promise to protect,” he says. “I try to inspire positive change that we can achieve as a team by speaking openly about their exposures and areas of deficiency.

Being a crutch doesn’t help their business.”

Peplinski is extremely involved in the trucking industry, which has led to a deeper appreciation of the challenges his clients face and resulted in his nomination as safety chair for the Trucking Association of New York, where he currently serves on the board of directors. “Our association advocates as the voice of trucking for critical industry regulations and issues, and my desire is to give back to the industry that has given so much to me by paving a brighter path for future generations,” Peplinski says.

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14/02/2020 4:53:31 AM

TOP 2020

LEROY CHRISTIANSEN Client advisor, shareholder GULFSHORE INSURANCE AGENCY

PLATINUM PRODUCER

MICHAEL BECK Senior vice president, underwriting SPECIALTY COMP INSURANCE SOLUTIONS

Mike Beck has served as senior vice president of underwriting for Specialty Comp Insurance Solutions since 2012, after spending four years with QBE North America as VP of workers’ compensation and middle market manager. Beck’s 30-plus years in the P&C industry also include a decade at the National Council on Compensation Insurance, where he served as a senior classification analyst, as well as 11 years in workers’ compensation underwriting at ACE/ Chubb, Travelers Insurance Company and Diamond Insurance Company.

CONGRATULATIONS

TO THE 2020

TOP BROKERS

At Gulfshore Insurance Agency (an Acrisure Partner Agency), Leroy Christiansen works with a wide range of clients to deliver strategic risk management and commercial P&C insurance guidance. His expertise lies in the precision manufacturing and construction industries.

After graduating from college, Christiansen served as a combat engineer officer in the US Army and was deployed to both Iraq and Afghanistan. While in service, Christiansen received multiple

commendation awards and letters of commendation for excellence.

After returning home in 2013 at the rank of captain, Christiansen left the service with an honorable discharge to pursue his next career in the private sector with Gulfshore Insurance. Since joining in 2013, Christiansen has been named an IBA Top Producer four times, was nominated for a state-wide board position with the Florida Association of Insurance Agents and, most recently, was recognized in Gulfshore Business’ Top 40 Under 40 for 2019.

POWER

through Partnership

www.assuredpartners.com

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SPECIAL REPORT

TOP PRODUCERS RUSS WARDLAW President INSURAMAX

Immediately after graduating from college, Russ Wardlaw began building his insurance industry résumé by joining Aetna Life and Casualty as a commercial P&C underwriter.

After several years of extensive training and experience as a marketing representative for Hanover Insurance Company, Wardlaw moved to a workers’ compensation carrier as the general manager for the Kentucky and Southern Indiana region. In 1991, he joined the independent agency side of the business and spent more than 20 years in sales production, management and training.

In 2012, he joined Insuramax, where he is now president and a shareholder.

PLATINUM PRODUCER

BRIAN A. PAYNE President and CEO FIELD INSURANCE AGENCY OF SURFSIDE

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Over his 17-year career, Brian Payne has built an exceptional team of 25 individuals, whom he works alongside at several offices in South Carolina. Payne and his team have been recognized by carriers, brokers and industry groups for production, growth and profitability; personally, he has served on a variety of carrier councils and advisory boards and the National Flood Council.

Payne has extensive experience in CAT-exposed property coverage and specializes in both personal and commercial lines, insuring billions of dollars in property coverage throughout the Carolinas. He is also well versed in flood insurance, which he writes through FEMA and the private market.

Over the years, Payne has seen tremendous growth by adding new clients organically, which has proven to be increasingly challenging.

“My team spends a lot of time with each other inside and outside of the office,” he says. “This has created a bond and culture amongst us that is very fun and inviting, while keeping our goals and clients’ needs ahead of us.

The communication and accountability we have for each other is exceptional.”

PLATINUM PRODUCER

JASON BUEHLER Executive vice president and director of client services, Colorado energy practice IMA FINANCIAL GROUP

Jason Buehler specializes in placing insurance and managing risk in the energy industry for upstream, downstream, domestic, international, onshore and offshore business, with a primary focus on oil and gas lease operations. He is actively involved in many oil and gas associations, including sitting on the board of directors for the Western Energy Alliance and serving as chair of its events committee.

Buehler has presented on energy insurance topics at associations and industry events and says his key strategy to growing his book of business has been to exceed expectations. “I make sure every day that we execute at a very high level on all of our value-added services,” he says. “Anyone can place insurance, but truly taking work off of your clients’ plates and creating real value creates long-term partnerships.”

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14/02/2020 4:53:44 AM

TOP 2020

MARK N. LEE Managing director HIGGINBOTHAM

Over his nearly 15-year career, Mark Lee has developed niche expertise in the

RYAN VON HADEN

LORI P. AUGUSTYNIAK CEO

Partner, vice president of business accounts

HORIZON INSURANCE

After working in the accounting field, Lori Augustyniak began her insurance career in 1996 with Nationwide. For eight years, she worked in sales management and business consulting, which gave her a unique opportunity to learn how to be a successful agent. In 2004, she purchased Horizon Insurance, a Nationwide agency; four years later, she became an independent agent. Since 2004, Augustyniak has tripled Horizon’s size.

Augustyniak attributes her success to building a great team that believes in her agency’s philosophy of doing the right thing for clients. “The majority of growth comes from referrals because my clients and centers of influence know and trust that we will take of them,” she says. “We will be an advocate and help our clients manage their insurance portfolio.”

Giving back to the community has become a mantra for Horizon; in 2018, the agency partnered with Safeco Insurance to donate $10,000 to the Homeless Coalition in Florida. This tradition of giving continues; the agency donates up to 10% of its profits to local charities.

TRICOR INSURANCE

Ryan Von Haden began working at his family’s insurance agency while still in high school. As a college student, he interned at TRICOR; upon graduation, began working full-time in the insurance industry as an

TIM WAHL Vice president ACENTRIA INSURANCE

Based in South Carolina, Tim Wahl specializes in multifamily and private flood policies as vice president of Acentria Insurance, where he uses his four-plus decades of industry experience to serve condominium associations and property managers across the Carolinas and Florida. Wahl got his start in the industry at Nationwide Insurance, where he received top honors as National Agent of

oil and gas, transportation, construction, and manufacturing industries, while also handling a wide spectrum of insurance coverages and types of risk. His analytical approach to reviewing his clients’ coverage needs has proven fruitful over the years, resulting a book of business that has grown simply by Lee “trying to do the right thing” by his customers.

“I do whatever is necessary to make sure they have the best possible valued solution available and the tools necessary to be successful,” he says. “I have learned that in order to be successful in this business, you have to have a good combination of determination, grit, hunger and luck. Hard work pays off, but a little luck never hurts.”

underwriter for West Bend Mutual. Two years later, Von Haden returned to TRICOR; since he joined in 2006, he has been the leading property & casualty producer at the company, and in 2014, he was promoted to partner and vice president of business accounts.

Von Haden has grown his book of business to around $14 million in premium and $1.65 million in revenue, all while earning his CIC and AIS designations. In 2016, he won the PIA National Young Agent of the Year Award, the Wisconsin Insurance Agent of the Year Award and was named an IBA Young Gun. He has been an IBA Top Producer every year since 2017.

the Year, and later co-founded AmeriFlood and started his own independent P&C agency. He joined Acentria in 2016.

“The key strategy to growing my book of business is R&R: relationships and referrals. I like to do ‘credibility visits’ – stop by just to say hello, to see if the client needs anything,” Wahl says, adding that “you have to take the insurance speak out of your conversations with clients. Over the years, I’ve developed a hybrid language that somewhat breaks down the legal language of an insurance contract and brings it into everyday language.”

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SPECIAL REPORT

TOP PRODUCERS VIK PATEL Vice president ACENTRIA INSURANCE

FRANK J. MCMACKIN IV Area vice president – South Florida GALLAGHER

Frank McMackin has more than 13 years of experience in risk consulting, commercial insurance placement and underwriting, and enterprise risk technology. As an area vice president for Gallagher, McMackin focuses on leveraging his experience and cross-discipline expertise to deliver comprehensive risk management and commercial P&C insurance solutions.

Prior to joining Gallagher in 2017, McMackin led global marketing, business development and account management activities for Exigis, where he was responsible for defining, implementing, and executing marketing, sales, and account management strategies across a diverse portfolio. Prior to that, he worked at Axis US Insurance and was a founding partner of RiskForce, an international consulting and technology firm.

“My strategy is to focus on the relationship and approach each engagement as a partnership,” McMackin says. “I have always believed that if you invest the time to understand client needs, goals and objectives, and risk appetite, you can more effectively deliver solutions that maximize results and long-term value.”

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Vik Patel joined the insurance industry in 1999 through the family business; at the time, his father was insuring about 50 hotels. Leveraging his marketing expertise, Patel began cold-calling hotel owners by obtaining their information from various franchise booklets – “the good old days prior to the world wide

JOEL HIRSCHFELD Principal and founder HIRSCHFELD & ASSOCIATES

Licensed in New York, New Jersey, Florida, Connecticut, Arizona, Virginia, Iowa and Pennsylvania, Joel Hirschfeld is the principal broker and founder of Brooklyn-based Hirschfeld & Associates.

The agency is made up of individual independent agents and, since 2010, has partnered with more than 150

DUSTIN THOME Executive vice president THE BUCKNER COMPANY

Dustin Thome entered the insurance industry in 2002 after graduating with a BA in communication. Specializing in habitational and commercial property, including apartments, associations, retail centers and warehouses, Thome tries to treat every customer like family.

“I seek to provide response time and the best customer service possible while

web,” he says. Within a few years, he had become instrumental in growing the agency’s client list by 75%. In 2017, Patel decided to partner with Acentria Insurance, where he found that the additional resources and access to carriers allowed for continual upward growth.

Today, Patel embraces his role as vice president at Acentria with sincerity and honesty. “The biggest lesson that I have learned during my career is to be honest,” he says. “In our business, you have to be truthful with what you’re offering to the client, or it will always come back to haunt you. Staying true to who I am and what I believe in has definitely impacted our astounding reputation.”

independent carriers.

Last year was a year of growth for the agency – something Hirschfeld points to as one of the drivers of its success.

“We hired more staff and organized training for employees to be more knowledgeable and devoted to customers,” he says. “The key to growth is top customer service and coverages. Better coverage talks more than decreased premiums.

When coverage is good, then get the premium decreases.”

implementing policies to reduce as many liability exposures as possible and looking for the most cost-effective approach,” he says. “It’s all about honesty and integrity and never burning a bridge. I am never trying to sell anything – just trying to advise and provide the customer with the most information possible so they can make an educated decision.”

A three-time IBA Top Producer, Thome says his approach to growth in 2019 was the same as in years past. “We have stayed consistent compared to trying to grow,” he says. “This includes quick response times to customers’ needs, as well as actively shopping the market with the best insurance carriers for those needs, given the changing insurance climate and carriers’ appetites.”

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14/02/2020 4:53:49 AM

TOP 2020

PLATINUM PRODUCER

CLINTON ANDERSON President – specialty practice HUB INTERNATIONAL

Before joining the insurance industry, Clinton Anderson spent more than six years as a Missouri state trooper.

This year marks his 22nd in insurance, specializing in reducing employers’ total cost of risk. Highlights of his

career include building a brokerage and third-party administration company to more than 500 clients and working for a regional brokerage in Chicago, where he was a top producer and one of the largest shareholders, growing revenues to just under $10 million.

In 2016, Anderson joined Hub International Midwest as president of specialty practice. His main focus is building out the contingent workforce

space; since joining the agency, he has written more than 150 clients. Anderson credits this success to his team approach.

“Insurance has gotten so complex that working with a team approach is imperative,” he says. “The executive team at Hub is a key differentiator to my success. Everyone recognizes Hub as just acquiring companies, but the truth is the executive team is what helps to drive organic growth.”

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SPECIAL REPORT

TOP PRODUCERS JEFF BAJZA Vice president, sales producer AMERIFLOOD

With almost three decades of insurance experience, Jeff Bajza has gained significant knowledge of the business and honed his customer service skills.

He founded AmeriFlood, a subsidiary of Acentria Insurance, in 2005 and has led it to be voted one of the top insurance agencies in Fort Lauderdale for the last three years.

“The key to growing my book has been

JAMES S. RUSSELL Partner, risk manager TEXAS ASSOCIATES INSURORS

James Russell joined Texas Associates Insurors in 2006 and quickly found his passion in working with energy, construction and marine-related clients. His natural competitiveness

ALLEN CHAPMAN Executive vice president – Gulf region HUB INTERNATIONAL

Allen Chapman found his career in the insurance industry by accident.

While working in healthcare for 12 years, managing nursing homes and retirement communities, Chapman became concerned about the emotional challenges of working in senior care and began looking for an alternate path.

Eventually, he started selling long-term care insurance as a captive agent for General Electric.

After Chapman obtained his license, the Gulf Coast region was hit with Hurricanes Ivan and Katrina. The aftermath – and a firming market –

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specializing in one line of business,” he says.

“We became experts in flood insurance, which helped me grow my book and continue to grow annually. I focus on flood insurance and stay informed with the changes and new opportunities in this space.”

After nearly 30 years in the business, Bajza says his biggest takeaway is that it’s all about the client. “I am more concerned about helping my clients save premium dollars on their flood insurance than I am in making a sale or making commissions,” he says. “Always do what’s best for the client, and you will retain and grow your book.”

and ambitious spirit guided him to early production success and helped him win the Independent Insurance Agents of Texas’ Young Agent of the Year Award in 2014.

Russell was also recognized as a top producer of workers’ compensation insurance by Texas Mutual Insurance Company.

Today, as a partner at Texas Associates Insurors, Russell focuses on designing and implementing complex insurance and risk management programs. His clients span the state of Texas and surrounding states, and their operations and risk exposures extend around the globe.

provided Chapman opportunities to build his book of business. A few years later, the agency he worked for was acquired

by Hub International. There, he began chasing (and winning) large accounts and has established a base of loyal customers.

“Challenging claims, rate cycles and an ever-changing marketplace can be a challenging and complex business,” he says.

“However, I learned a simple focus from my mentor: Take care of your customer, and they will take care of you.”

CHRISTOPHER F. TRAPANI Executive vice president EAGAN INSURANCE AGENCY

Chris Trapani has 30 years of experience in commercial P&C insurance placement and account service and is especially effective at analyzing insurance programs and finding creative solutions to fit his clients’ needs. Trapani serves his clients and community by participating in professional associations, nonprofit organizations, alumni boards and school advisory boards.

In 2019, Trapani refocused his efforts on cultivating relationships. “This one business practice will keep your referral pipeline in order and also help produce the highest retention rates that will be considered best in class,” he says. “During my 30 years in the insurance business, there have only been a few items that have helped me grow my business year-over-year: client relationships, professionalism and keeping your word.”

Trapani was named an IBA Top Producer in 2017 and has been recognized as an Employee in the Spotlight in Eagan Insurance Agency’s newsletter.

www.ibamag.com

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14/02/2020 4:53:57 AM

TOP 2020

RENEE LICATA Department manager, collegiate division HAYLOR, FREYER & COON

Renee Licata brings more than a decade of experience in sales, employee management, business development and operations to her role as department manager of Haylor, Freyer & Coon’s collegiate division. Licata exclusively handles college and university clients, managing programs such as domestic student health and accident insurance, inbound and study abroad international health insurance, athletic insurance, and personal property and liability coverage.

She oversees collegiate coverage for campuses nationwide and, together with her team, manages every facet of the student health plan, working to leverage carrier partner relationships to secure the best possible programs at the most competitive pricing.

“I was raised to truly treat others how I’d want to be treated,” Licata says. “I am intensely dedicated to being customerservice-centric and growth-focused, leading with integrity and delivering value every day to my clients. By being my authentic self, I don’t need to sell to them.”

Prior to joining Haylor, Freyer & Coon, Licata served as director of sales and customer service for an internet technology firm in upstate New York, where she managed a team of employees and contract staff.

DAVID MEHLBAUM Senior sales executive M&T INSURANCE AGENCY

GARY WELLS Managing partner, Orange County THE LIBERTY COMPANY INSURANCE BROKERS

David Mehlbaum joined M&T Insurance Agency in 2016 after working in the construction industry for more than 15 years, managing large commercial projects ranging from $5 million to $75 million in the residential, hospitality and healthcare sectors. In addition to his experience in project management, Mehlbaum spent several years in the preconstruction department at Maryland-based Clark Construction, focusing on marketing, budgeting, estimating and purchasing.

“I’ve always felt that it’s important to be responsive to your clients and equally supportive of your partners,” he says. “We are only successful if those we work with are successful. I am blessed to work with a very talented team of account managers, claim managers and risk control staff, who do the lion’s share of the day-to-day servicing.

While targeting new business, I like to focus on our team approach and convey to future clients our strength of listening to their needs and tailoring risk transfer strategies for their business or organization.”

Gary Wells is the managing partner of The Liberty Company Insurance Brokers’ Irvine, California, office. Wells is a thirdgeneration insurance broker who started his insurance career in 1993 at his family’s business, PrideMark Insurance, immediately after college. He has worked at regional and national firms and has been recognized multiple times as a top producer, including Producer of the Year at The Liberty Company in 2017 and 2018.

Wells works primarily in the real estate industry, helping property owners, developers and managers throughout the country. He is also well versed in captives and has a track record of developing effective long-term captive strategies to level out the cycles of rate and appetite changes of the traditional insurance marketplace. Wells takes pride in becoming a part of his clients’ risk management team and closely working on all aspects of their businesses to keep them properly protected.

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14/02/2020 4:54:01 AM

SPECIAL REPORT

TOP PRODUCERS

MATTHEW D. HUNTER President RELIANCE RISK MANAGEMENT & INSURANCE

Matthew Hunter has been as a commercial insurance agent since 1986 and has held various leadership roles over the past three-plus decades. Today, as the president and sole shareholder of Reliance Risk Management & Insurance, Hunter’s focus is on bonding, general liability, workers’ compensation, business auto and property insurance, with additional expertise in management liability, including cyber, D&O and crime protection.

Hunter says the insurance industry jives with his entrepreneurial spirit, and, as a CIC holder, he enjoys identifying areas of over- or underinsurance and crafting the right customized balance for his clients.

“Do the right thing for everyone you work with all of the time without exception, and all things naturally combine together for the profitable growth of the agency,” Hunter says of his approach to his work.

In addition to running his agency, Hunter is working on his first book, Does $elf-Insuring Make $ense?, aimed at helping business owners determine the answer to that question through careful calculations and disciplined analysis.

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JOHN GAYNIER Partner ROGERSGRAY

CHARLES HUMPHREY Commercial P&C risk advisor HARMON DENNIS BRADSHAW

While working at Gulfshore Insurance in the mid-2000s, John Gaynier participated in the MarshBerry MAPLYT program, a mentorship and apprenticeship program for emerging young leaders in the industry.

He spent five years in the program, giving him the tools to fully understand real estate and commercial property needs.

During this time, Gaynier met Mike and Dave Robinson of RogersGray and, in 2011, moved to Massachusetts to join their agency and lead the real estate team. In 2017, he was named a partner.

“Strategically concentrating on specific niches has been the key to the growth of my personal book,” Gaynier says. “This has helped me gain the trust of my clients because of my increased knowledge within their industry. Mentorship is also key, and I was fortunate to have had great mentors as part of my time with Gulfshore and MAPLYT. I believe that is the best way to bring junior producers up.”

Before joining Harmon Dennis Bradshaw in 2003, Charles Humphrey owned a small business – an experience he says has been invaluable to helping him understand the challenges other business owners face.

“My all-encompassing philosophy for both current and potential clients is the same: to mitigate their risks by managing their exposures,” Humphrey says. To do this, he embraces a consultative approach, gaining insight into an insured’s operations to determine the root cause of loss – a process that involves extensive analysis of each client’s unique exposures and potential hazards.

By incorporating the results of that analysis, staying aware of market trends, and using alternative insurance products and services, Humphrey is able to provide a customized, innovative and comprehensive risk management solution. “Education is key,” he says of the lessons he’s learned during his 17-year insurance career. “In addition to education, advocacy for my clients and hard work are the cornerstones that I’ve built my career on.”

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14/02/2020 5:28:11 AM

TOP 2020

JUSTIN ROBINSON Client advisor THE BUCKNER COMPANY

Before joining The Buckner Company 13 years ago, Justin Robinson discovered his passion for serving and helping others during a service mission in Brazil and while working full-time as a plumber while attending the W.P. Carey School of Business at Arizona

JON AXEL Managing partner THE LIBERTY COMPANY

Jon Axel has an extensive background in property, casualty and financial insurance products.

His career spans more than 30 years, and he currently leads the growth of Liberty’s largest office, in addition to his role as a producer/client executive. Before joining

ZAK FANBERG Vice president EAGAN INSURANCE AGENCY

Focused on commercial and personal property & casualty insurance, Zak Fanberg has an extensive background in real estate and accounting management

State University. After graduation, Robinson and his family moved to Utah, where he started his insurance career as an agent at The Buckner Company.

“I quickly realized how my service mission, college and plumbing experiences were the perfect catapult to a successful career in the insurance business,” Robinson says. “In 2019, I focused more on my centers of influence and being more involved and available in helping them add value to their clients. In turn, it helped me gain more credibility with them and resulted in referrals.”

Liberty, Axel worked at Hub International for 11 years and at Marsh for 14 years.

There, he was involved with various specialty practices, including political risk and trade credit, Japanese client practices, marketing, and the middlemarket department.

Outside of Liberty, Axel serves on the Western division board for the Insurance Industry Charitable Foundation and is on the board of Center Theatre Group. He is also a past president of the Independent Insurance Agents and Brokers Association.

for large commercial property schedules.

He specializes in many areas, including condominium associations, restaurants, hospitality risks, contractors and manufacturing, as well as personal insurance for high-net-worth individuals.

Fanberg has been an IBA Top Producer every year since 2016, the same year he was named vice president of Eagan Insurance Agency.

“My key strategy to growing my book of business is through service and relationships – strong relationships with my existing clients and providing top-notch service leads to referrals,” he says. “I keep detailed records of all accounts that I’ve either called on or quoted, and I always follow up every year or two. I never give up on a particular account. I always play the long game and never burn any bridges.”

KATIE JACKSON Vice president ACENTRIA INSURANCE

With just over three decades of experience, Katie Jackson is an industryleading expert in all lines of property & casualty insurance. For the last seven years, as a vice president with Acentria Insurance, Jackson has worked diligently to uphold the company’s standard of unparalleled customer service.

“I continually build a rapport and stay in touch with my clients while providing exceptional customer service, which results in client referrals,” she says.

“If you wouldn’t buy the product for your own company, do not sell to your client. Do not give clients options and let them decide their business strategy.

Be aware that clients change, and that results in coverage changes as they continue to evolve.”

In addition to her passion for the insurance industry, Jackson devotes much of her spare time to animal rescue efforts in her area, serving on the board of directors for Tu-Bahd Horse Rescue, a nonprofit dedicated to rescuing horses from life-threatening situations.

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SPECIAL REPORT

TOP PRODUCERS

BRETT NILSSON Senior vice president THE BUCKNER COMPANY

BOB MIDDLETON Director and owner, Arts Insurance Program MAURY, DONNELLY & PARR

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Brett Nilsson strives to be an industry leader in his profession, his business association and his community. Nilsson says his dedication to education and communication has been his strength when working with domestic and international clients.

“Providing my clients with answers to their questions in a timely manner and making suggestions about coverage, exposures and general questions are key,” he says. “Just as important is fulfilling their requests for certificates and reviewing insurance terms in their business contracts. My motto is to treat your customers as you would your best friends and be available when they need you.”

Nilsson has served as chairman for the Independent Insurance Agents & Brokers of America and on the board of directors for the World Federation of Insurance Intermediaries. Additionally, he has served on the board of the Goddard Business School at Weber State University and as chairman of the Layton City Planning Commission.

Over the course of his 34-year career, Bob Middleton has learned the art of tailoring his services to the needs of his clients. For the last 16 years, Middleton has concentrated on working with individual artists and organizations in the arts community nationally and internationally, which has allowed him to focus his service, claims management and market relationships specifically on this sector’s needs. “Specialization and service have been the keys to our growth,” he says.

Currently, Middleton’s Arts Insurance Program has more than 1,000 clients and is the largest insurer of touring Broadway shows and dance and ballet companies.

Middleton and his team have worked with associations such as Fractured Atlas, Dance USA and Chorus America to develop products tailored to their membership. Middleton also serves as chair of the board for the Maryland Film Industry Coalition.

SAM ZAISER Client executive, risk consultant MARSH & MCLENNAN AGENCY

When he started his insurance career at Marsh & McLennan immediately after graduating from college, Sam Zaiser immediately sought mentorship from principals within the firm to continue his education. Determined to learn about the business from all angles, Zaiser attended renewal and prospect meetings with senior producers and put a priority on earning designations. Today, he considers himself an extension of his clients’ teams and places great importance on learning the operational intricacies of their businesses to build insurance programs that cover their specific exposures.

“While reading books and insurance policies helped give me a good background early on, I learned quickly that nothing is more valuable than the guidance and advice of individuals who have both succeeded and failed at times in their insurance careers,” Zaiser says.

“With the help of mentorship and a lot of hard work and dedication, I feel I’ve hit my stride and am proud to have grown my book of business to 75 clients, generating $950,000 in just four years.”

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14/02/2020 4:54:12 AM

TOP 2020

NEGAR SHARIFI Senior vice president, commercial lines ASSUREDPARTNERS

Negar Sharifi’s first job out of college was in the audit department at Deloitte & Touche, where she worked within the timeshare, hotel and property sector of accounting. In 2008, she decided to leave accounting to learn more about the insurance side of real estate. Since then, she has built a book of business consisting of more than 250 clients, primarily in the construction and real estate industries.

In 2016, Sharifi earned her CIRMS designation through CAI National, becoming one of only seven agents in Florida with this certification; the following year, she was recognized

by Florida Community Association Professionals as a Woman of Industry.

“Staying connected within the community and getting to know and help the residents who reside in the communities I insure is key to growing my book,” Sharifi says. “Education is also a significant factor in successfully growing my book of business. I travel the state, teaching CEU classes to community association managers for continuing education credits, and am on the CAI Central Florida chapter board to stay abreast of the ever-changing industry, which allows me to better serve my clients.”

TIMOTHY R. POWERS Producer MISSOURI GENERAL

KARL W. HENLEY Executive vice president, partner SEIBERTKECK INSURANCE PARTNERS

Timothy Powers’ goal has always been to be a business owner. Prior to owning his own book of business, Powers worked in sales and management positions for large national and international companies, including Enterprise Rent-A-Car and Microsoft. While he enjoyed his roles, the growth opportunities were capped, and Powers wanted to have more input as to what he could ultimately make out of his business. So, in 2004, he left to pursue his goal in the insurance world.

From hiring his first full-time account manager six years ago to growing to his current team of four, Powers says he’s most proud of his retention rate, which hovers around 95% annually. He has consistently been among the leading salespeople at Missouri General and averages year-over-year revenue growth of between 25% and 35%. Specializing in P&C for commercial clients with an emphasis on workers’ compensation risk management, Powers helps manage workers’ comp exposure through employee safety training and loss prevention, resulting in around 75% savings for some clients.

Locally recognized for his risk management and insurance knowledge and a frequent speaker on risk management and insurance issues, Karl Henley has more than 20 years of experience in financial services, including commercial banking and insurance. Over the years, Henley has developed several of the proprietary ERM processes offered by SeibertKeck and was named to IBA’s most recent Hot 100 list.

A partner and member of SeibertKeck’s board and finance committee, Henley strives to always be the best in his field.

“No one is going to do it for you – success comes with hard work [and] delivering what you promise with integrity, tenacity, discipline and consistency,” he says. “Just as important is to never stop learning.”

In addition to his role at SeibertKeck, Henley serves on several local councils and boards.

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SPECIAL REPORT

TOP PRODUCERS

DILLON ROSENHAMER Partner, vice president – Central Oklahoma

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INSURICA

KYLE SCHIELACK

Dillon Rosenhamer has been with Insurica since 2009. He became a partner in the agency within his first four years, thanks to the extensive growth he provided to the construction practice, and was subsequently named the Oklahoma construction/surety practice leader.

Recently, he was promoted to vice president of Insurica of Central Oklahoma.

Rosenhamer’s primary focus is alternative risk financing methods for contractors and surety expertise. He holds a CRIS designation, is highly involved with local construction associations and served a five-year term on the board of the Associated General Contractors of America (AGC). He currently sits on the legislative committee for the AGC and is on the board of directors for the Construction Financial Management Association.

“I have always believed the best strategy to grow and retain a book of business is to continually challenge my clients with new thoughts and ideas on financing exposures,” Rosenhamer says.

“As the industry continues to change, so should our approach on how to help manage a company’s changing risk.”

Executive vice president HIGGINBOTHAM

BRAD NIELSON President THE BUCKNER COMPANY

Kyle Schielack joined Higginbotham in 2016 as a vice president and shareholder for business insurance. In the years since, he has been named executive vice president and practice leader for real estate, serves on the firm’s sales strategy team advisory board, and is a mentor to several young producers within the organization.

Schielack started his insurance and risk management career at Marsh & McLennan Agency in 2009. He holds CIC and CRM designations and specializes in risk management for multifamily and property management portfolios, retail/industrial/ office real estate, commercial property development, manufacturing, wholesale distribution and professional services.

Schielack says one of the biggest lessons he’s learned in his 10-plus-year career is to be engaged. “Stay connected with your clients first and foremost,” he says. “Clients appreciate knowing where they stand with regard to market conditions and knowing that their broker remains involved with their operation and evolving exposures.”

Raised on a potato farm and cattle ranch in Rexburg, Idaho, Brad Nielson grew up with a love of agriculture and a strong work ethic. While he didn’t go into farming, he stayed in Idaho and has spent 38 years as producer, sales manager and agency manager in P&C insurance, specializing in “anything to do with agriculture,” including crop insurance, commodity transportation, processing, fuel, fertilizer and chemical distributors, fertilizer and chemical applicators, and farm and industrial equipment manufacturers.

“I am surrounded by the best team anyone could ever have,” Nielson says.

“They totally support me in providing great service to our clients and the companies we represent. I could not be successful without them and the support we get from leadership and the corporate team.”

Nielson joined The Buckner Company in 2010 as president of the Idaho operation and was on the Idaho Independent Agents Association board of directors for 12 years.

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14/02/2020 4:54:21 AM

TOP 2020

LARRY WIER Agency president ASSUREDPARTNERS

Larry Wier began his career in 1990 and quickly discovered an ability to identify the cost drivers for workers’ compensation and explain it to business owners as a controlled cost. He also developed

a specialty in helping high-net-worth individuals protect their incomes and estates. Today, as agency president for AssuredPartners of Florida, Wier says his approach remains largely the same.

“Specializing was key for me, and early on, I picked a couple of areas to focus on and gain expertise in, and I have continued to grow those markets of interest,” he says. “This helped boost my career in construction, retail, wholesale and manufacturing, and agriculture.”

In April 2019, Wier began a new chapter when his agency joined forces with national broker AssuredPartners. “The insurance industry has always experienced cycles, niches and pitfalls, and we will see that same cycle continue,” he says.

“The benefit of building trust and expertise with our clients and partners is that we have many long-term partnerships that enable us to weather those ups and downs.”

TODD SORRELL Vice president and commercial P&C advisor FIFTH THIRD INSURANCE

Specializing in professional liability and general commercial insurance, Todd Sorrell has more than a decade of experience and had a total commission revenue of $950,000 in 2019. Based in Louisville, Kentucky, Sorrell currently serves more than 250 clients in Kentucky, Indiana and Tennessee.

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SPECIAL REPORT

TOP PRODUCERS FRANK BARBELLA Founder and CEO SOLV RISK SOLUTIONS

A three-time IBA Top Producer, Frank Barbella has a track record of business acumen, acquisition experience and active leadership roles in industry association boards. He started his insurance career on the carrier side, but his passion for entrepreneurship eventually led him to Market Financial Group, a small independent agency that he helped grow from less than $3 million in revenue to more than $15 million in less than nine years.

Focused on risk management advisory and insurance brokerage, Barbella launched several insurance-related startups before setting up Solv Risk Solutions in 2016 in the hopes of disrupting the stagnant nature of the insurance broker model. At Solv, Barbella and his team focus on serving entrepreneurs, risk officers and business owners, working to enhance their risk profiles.

JD POWERS President POWERS INSURANCE & RISK MANAGEMENT

JD Powers attributes his success to his team members, his insurance industry knowledge, including earning his PWCA and CRM designations, and especially to

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his experience running businesses. “Being a business owner has given me a unique perspective that helps me understand and anticipate what a client wants and needs from their risk advisor,” Powers says.

Powers Insurance & Risk Management focuses on working with businesses with complex risk profiles, which it addresses via a proprietary risk management approach that’s designed to challenge the status quo and proactively safeguard clients, their employees and their families.

Over the years, the agency has maintained its focus on growing its specialty niches, including hospitality, manufacturing, educational institutions, construction/ heavy equipment and habitational, along with personal risk management for high-net-worth families, and it has experienced significant growth in all six practices regionally. Additionally, the team at Powers worked with several cannabis organizations in 2019 and plans to continue to do so moving forward.

JOHN PENTON Vice president of sales TRUCK WRITERS

A member of Truck Writers since he graduated from college in 2006, John Penton began his career with minimal knowledge of insurance and transportation. “I was eager to learn and have always had an entrepreneurial spirit and gained energy from being around people,” he says, “so a sales position seemed like the logical fit.”

Being young and green in an industry full of seasoned relationships was a tough obstacle initially, and Penton spent much of his time learning trucking and insurance lingo, as well as developing a sales strategy focused on risk management and creating value for clients. By surrounding himself with insurance professionals and joining industry associations, Penton eventually hit his stride.

“Trucking is a very niche appetite, so developing strong relationships with the underwriters and truckers was an integral component in achieving success,” he says.

“As my book of business expanded, so did the referrals. Truckers are very loyal, and they are very outspoken about business experiences. I found that providing top-notch service and asset protection to my current customer base was a great way to earn referral opportunities.”

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14/02/2020 4:54:28 AM

TOP 2020

DAVE S. DEARDEUFF Senior vice president INSURICA

With more than 35 years of experience, Dave Deardeuff is a recognized leader in oil and gas insurance and takes pride in his ability to develop strong relationships with his clients and serve as a trusted advisor.

Deardeuff began his insurance career in 1982 as an underwriter with United States Fidelity & Guaranty Company. Three years later, he went to McEldowney McWilliams Deardeuff & Journey, where he worked as a producer and vice president over the next two decades.

Since joining Insurica in 2005, Deardeuff has led the agency’s energy practice, which is currently its most thriving practice. “I have been fortunate to have many mentors throughout my business career, and a common theme starts with relationships,” he says. “Learning how to develop new opportunities into meaningful, personal relationships has been critical and is the foundation of how I build my business.”

Outside of the office, Deardeuff serves on the Petroleum Alliance board of directors and also supports its PAC as an Inner Circle member.

THOMAS K. QUICK Senior vice president – Kansas City HUB INTERNATIONAL

PHILLIP LANE Agent INSURANCE OFFICE OF AMERICA

Thomas Quick is a commercial insurance veteran in P&C and surety bonds for the construction, development and property management industries. Quick began his insurance career in 1987 and, over the years, has developed expertise in comprehensively advising his clients in all aspects of insurance.

“My success is a result of building long-term relationships of trust and friendship with my clients,” he says. “I learned a great quote from a mentor, and it has stuck with me: ‘People know if you’re in it for you or if you’re in it for them. Once they trust you are in it for them, nothing else matters.’”

Currently a senior vice president and shareholder of Hub International, Quick serves on the board of directors of the Heavy Contractors Association of Greater Kansas City, as well as on its political action and affiliate committees. He is also a member of the Kansas Contractors Association, the Associated General Contractors of Missouri, and the Builders’ Association’s Kansas City chapter.

Phillip Lane joined Insurance Office of America in 2018 as a commercial lines producer. Prior to that, he was a producer at J.W. Edens Insurance, where he led the commercial lines department in new commercial insurance business development and retention for more than a decade. Lane’s clients included industry leaders in contracting, manufacturing, banking, technology and professional services.

Lane holds a CLCS designation and is passionate about introducing innovative risk management practices to companies that are willing to invest in controlling measurable risks. He began his career in 2003, working as a certified child protective investigator with the Florida Department of Children & Families. He has served on the board of directors of the Florida Roofing & Sheet Metal Contractors Association and the Florida Roofing & Sheet Metal Contractors Credit Union since 2015.

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SPECIAL REPORT

TOP PRODUCERS

BEN D. SMITH Managing director HIGGINBOTHAM

After graduating from Texas Tech University, Ben Smith worked in the banking industry in Houston for six years before relocating to McAllen, Texas, to begin an insurance career specializing in commercial property & casualty. That was 26 years ago, and he remains in the same office today as a managing director for Higginbotham.

“I believe there are three key factors that have facilitated my success in insurance,” Smith says. “Identifying clients who are the right fit for what we offer and are able to provide value to differentiate ourselves from our competitors; working at a firm committed to growth and that values creation; and having a great team of people surrounding me with common goals to support me, our clients and the local community.”

Outside of Higginbotham, Smith has served on multiple carrier agency councils, as well as a variety of city and nonprofit boards within the Rio Grande Valley.

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MICHAEL P. EGAN JR. Vice president THE SELZER COMPANY

JEFF MCINTOSH Vice president, commercial insurance agent ENERGY INSURANCE AGENCY

“When many kids were dreaming of being an athlete or astronaut, I was dreaming about being an insurance agent,” says Michael Egan Jr., whose uncle founded The Selzer Company, where Egan’s father also worked.

While attending college and preparing to work at the agency, Egan’s family decided he first needed to find his own path. He accepted an intern position at a startup agency and quickly became a full-time account manager while receiving two-plus hours of daily one-on-one training from the agency principal. A few years later, Egan was offered and accepted an account manager position with The Selzer Company. He was recently promoted to vice president and has a book of business worth just over $10 million.

“All advancements toward these achievements are the result of the strong foundation of knowledge gained as an account manager; opportunities to learn from the industry mentors who have shaped my career; and the culmination of honest, caring and respectful relationships with our carrier partners, customers and team members,” he says.

“Education has been the bedrock of my career,” says Energy Insurance Agency’s Jeff McIntosh. “It has made all the difference.

Not experience, education.”

It took McIntosh five years to understand what he calls “the true role” of an insurance agent, and it wasn’t until his seventh year as an agent, in 1993, that he hit $100,000 in revenue. For the last seven years, he has averaged $1 million annual revenue. He says the help and support of good underwriters and agency staff was essential to reaching this accomplishment.

“To get that support, you have to earn it,” he says. “To get a great quote, you have to provide great applications to your underwriter. To write more businesses insurance, you have to know what insurance each business needs. Learn to write insurance policies, not just sell insurance.”

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14/02/2020 4:54:35 AM

TOP 2020

JONATHAN SCHRETER Executive vice president BOLTON & CO.

As an executive vice president at Bolton & Co., Jonathan Schreter focuses on commercial property & casualty risks for charter and independent schools, higher education institutions, and middle-market businesses in technology, manufacturing and entertainment. With a diverse background that began in marketing, he combines creative thinking and analytics to offer a consultative approach to risk management.

“Last year, I focused on being more intentional,” Schreter says. “It sounds cliché; however, time is the most valuable

resource we have, and I made sure to focus on the businesses and organizations I knew I would have the greatest success with. Being strategic with where and how you put your energy is crucial toward your success as a broker and advisor. I’ve found that when I’m able to dive deep with an organization and uncover their true challenges, I can provide much more meaningful solutions and impact toward what the business owners I work with are trying to accomplish.”

Outside of his work at Bolton & Co., Schreter is a past president of the Independent Brokers & Agents Association of the San Fernando Valley and currently serves as president of the UCLA Anderson alumni network in Los Angeles.

We are the premier insurer for luxury condos, co-ops, rentals, class “A” office buildings & upscale restaurants.

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SPECIAL REPORT

TOP PRODUCERS

DAN MORTON Senior vice president USI INSURANCE SERVICES

RYAN STRINGHAM Client advisor THE BUCKNER COMPANY

Ryan Stringham has been with The Buckner Company since he began his

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Dan Morton has spent his entire working life around trucking and transportation and has dedicated himself to understanding the industry from the inside out. “Doing so helps me to solve varied, unique and difficult problems for my clients,” he says, “and I’ve learned over the years that listening is more important than speaking.”

Morton paid for his degree in business logistics by working for a small trucking company, where he did everything from washing trucks to performing light maintenance to checking driver logs.

After graduation, he worked in the safety and risk management departments for several large flatbed carriers throughout the country and eventually started his own transportation practice. Together with a small group, Morton focuses on motor carriers across the nation that “are willing to invest in safety and themselves,” he says.

“I look for problems that my clients face – or will face – and work to bring a practical, real-world solution.”

insurance career in 2002. As a client advisor, Stringham consults with clients in the areas of risk management, all lines of P&C insurance, workers’ compensation and surety bonding. In the commercial sector, his focus includes construction, commercial real estate, professional services and healthcare-related accounts.

“The commercial insurance industry is constantly changing, and knowing everything is not possible,” Stringham says.

“Partnering with others and always seeking to learn creates opportunities to grow.”

This approach, combined with his dedication to building long-lasting relationships, has supported Stringham in consistently growing his book of business and becoming one of the biggest producers at The Buckner Company. “I have an awesome team behind me at The Buckner Company, and I have no success without them,” he says. “Trusting them and our insurance carrier partners allows me to focus on client relationships and creating opportunities.”

NICK NAPOLITANO Market leader M&T INSURANCE AGENCY

“All businesses need, to varying degrees, commercial insurance – that’s what attracted me to the business,” says Nick Napolitano. As he began understanding the critical role insurance brokers play in their clients’ businesses, Napolitano became passionate about becoming his clients’ best advocate to effectively solve their risk-related issues.

Napolitano joined M&T Insurance Agency (MTIA) in 2017 with eight years of commercial insurance experience. As a sales leader and producer, he has spent his career focused on creating complex insurance solutions for clients. Since joining MTIA, he has been empowered to build and guide a team that can service a large book of business with higher levels of technical prowess.

“My approach has evolved to include a true specialization in alternative risk financing, primarily through the utilization of group captives,” Napolitano says. “I have dedicated my efforts to structuring holistic alternative risk finance and management programs for my clients.”

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TOP 2020

CHUCK JENNINGS Vice president

ALKA MANAKTALA

ACENTRIA INSURANCE

Specializing in agriculture and complete protection for law firms, Chuck Jennings believes in the value of building meaningful relationships with his clients. “In the insurance business, you must develop chemistry with your clients,” he says. “For example, in November 1979, I wrote a one-person law firm. Today, 40 years later, the firm has 140 lawyers in six states, and they have never ‘shopped’ their insurance.”

Jennings has more than five decades of insurance experience, including founding and operating his own agency. During all that time, his key principles have remained constant: integrity, honesty and hard work.

“In 2019, I took a look at my inventory of prospects and spent more time on qualifying these prospects, reviewed coverages more often and more systematically, and worked more closely with our account managers,” he says. “I recorded goals, asked more often for referrals and tried to do a better job of listening. Just simply, I got back to the basics.”

Vice president, restaurant group IOA INSURANCE SERVICES

An IOA Producer of the Year in 2017 and IBA Top Producer every year since 2017, Alka Manaktala is a former Burger King franchisee who has more than 25 years of experience in quick-service and fine dining restaurants. In her previous job at a large national brokerage, Manaktala was one of the top 10 producers in 2013, and then the top producer out of 375 producers the following year.

Manaktala’s client portfolio includes such names as Wendy’s, Panera Bread, Subway, Buffalo Wild Wings and many other restaurants, for which she arranges coverage for P&C, workers’ compensation and employment practices liability.

“My key strategy to growing my book of business is taking excellent care of my current clients and then requesting they refer me to their business associates and friends,” Manaktala says. “I service my existing clients with the same dedication and focus I used to win their account in the first place.”

KEN TUCKER Senior vice president NFP

Ken Tucker started in the insurance business in 1982 as a P&C generalist agent with Welsh and Associates and a life producer with MassMutual. After deciding he preferred P&C, Tucker earned his CIC designation and has since focused his career on niche coverages. While working at Insurance West (now NFP), Tucker developed an entertainment rental house program and grew it to be the largest writer of rental houses in the country.

“Service is the key, and we are staffed to get certificates out immediately,” Tucker says. “We even have an attorney on staff, free of charge, to help our clients with their rental contracts. No other agency offers this innovative service, and that sets us apart from our competitors.”

This is Tucker’s sixth year being named an IBA Top Producer. “I am blessed to have a service team that cares as much as I do about each and every client,” he says. “I am proud to be a part of the success of our program and very thankful to all my dedicated clients over the years.”

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SPECIAL REPORT

TOP PRODUCERS

TODD JACKSON Vice president BOLTON & CO.

Todd Jackson specializes in construction, real estate, manufacturing, wholesale and healthcare, and is an active member, speaker and writer with the Los Angeles chapter of the National Electrical Contractors Association. He has also served as president of the Insurance Brokers & Agents of Burbank, Glendale and Pasadena, and was previously the director of the Insurance Brokers & Agents of the West.

“A major factor of my success has been my focus on building and nurturing the right relationships,” Jackson says.

“Whether it’s a long-term client or a prospect, I want to ensure that my resource and partnership extends beyond the role of a broker.”

Reflecting on 2019, Jackson says the growth of his book was largely due to narrowing his focus and becoming more strategic with the businesses he supported. “Instead of seeking a wide array of new opportunities, I focused my energy on developing relationships with organizations that would be the right fit and provide great opportunities for growth and success,” he says.

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BRENDON BOCK Client executive MARSH & MCLENNAN AGENCY WEST

Brendon Bock got his start in the insurance industry as a college intern.

PAUL COHEN Area president – Kansas City HUB INTERNATIONAL

As the area president for Hub International in Kansas City, Paul Cohen oversees agency operations, sales and strategic initiatives for one of the

In 2015, he joined Marsh & McLennan Agency (MMA) full-time, focusing on the life science and technology practice groups. In his first year of selling in 2016, Bock wrote a company record of 52 new clients. By 2018, he had qualified for MMA’s Circle of Champions, and in 2019, he accumulated a book of over $1 million.

“Having a mentor in the firm was extremely beneficial early on,” he says.

“I also attribute much of my success to my team and a commitment to extensive networking and building a critical group of centers of influence.”

In 2019, Bock developed a life-sciencefocused center of influence with five fellow young professionals: an attorney, a public accountant, a commercial real estate broker, a commercial banker and a venture capitalist. “The biggest lesson I have learned and continue to practice is to treat my team above myself,” Bock says. “I wouldn’t have had successful sales years without each one of them.”

agency’s newest markets. With more than 15 years of experience in production and sales leadership, Cohen is a trusted advisor across the construction, distribution and real estate industries. Prior to joining Hub in 2005, he spent his career at Truss, a regional agency focusing on P&C insurance and group benefits.

Since 2015, Cohen has grown his book of business by 50% by focusing on larger opportunities and co-producing with colleagues who specialize in group benefits. “A key strategy to growing my book of business has been building deep, meaningful relationships with clients, which positions me as their trusted advisor rather than their insurance broker,” he says. “I lead with a ‘go-giver’ approach, focusing on helping connect people and opportunities. Early in my career, I learned to never burn a bridge. If things don’t go your way, always exit professionally. Many times over my 15-year production career, these accounts came back to us or opened doors to other opportunities.”

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TOP 2020

CRAIG HILTON Client advisor THE BUCKNER COMPANY

Craig Hilton began his career in 1987 with GL Insurance Agency, working alongside his father and uncle. Before long, Hilton had developed a good book of business, primarily with contractors and community banks. After his father retired in 1990 and his uncle retired in 1992, the

DUSTIN GLOVER Executive vice president THRELKELD & COMPANY INSURANCE

CHRIS ZEHNDER Senior vice president WOOD GUTMANN & BOGART

Chris Zehnder describes his business strategy as “digging a trench as deep as I can in the contractor’s insurance sector [to] continue to learn as much as I can about the space so I can provide the best possible solutions to my clients.”

With a goal to become the top construction broker in California, Zehnder believes that a good broker should leverage all available resources. “I am quick to defer to the experts in their respective divisions,” he says. “One of the most important factors is having talented and dedicated people working together for our clients.”

In the coming year, Zehnder plans to focus on offering more alternatives to traditional guaranteed-cost carriers and has worked to set several clients up in programs where they can take on more risk. “It’s important to consider the coming years when helping my clients make a decision,” he says. “Failure to plan and identify future issues will always come back to haunt you.”

Dustin Glover joined Threlkeld & Company Insurance in 2008 and has since grown his book of business to more than $2 million in revenue. In 2017, he was promoted to executive vice president and now shares in the day-to-day management of the company alongside president and CEO Todd Threlkeld.

After lobbying in Washington, DC,

PLATINUM PRODUCER

SEAN RABINOWITZ Senior vice president ACBI INSURANCE

Sean Rabinowitz brings almost two decades of industry experience to ACBI Insurance. He began his career as an employee benefits underwriter for GE Financial/Genworth before transitioning to a sales role at Genworth/Sun Life, where he was a top performer. In 2010, Rabinowitz joined ACBI Insurance to expand the agency’s footprint by establishing a group benefits division; he

agency was purchased by First Security Bank, followed by Wells Fargo Bank. In 2002, Hilton joined The Buckner Company – a decision he calls “one of the best moves in my career.”

Hilton has since expanded his footprint into hospitals, large restaurant groups, financial institutions and tech companies.

Last year, he reached $1 million in revenue by “more actively participating with trade associations and visiting my clients face-to-face more often,” he says. “There is no substitute for personal face-to-face service. Becoming a part of your clients’ advisory team is key.”

with the Federal Motor Carrier Safety Administration for the Line 5 exemption for the trucking industry, Glover made a name for himself in the transportation market.

“My key sales strategy has been to focus on the transportation industry,” he says. “With the customer service we provide and the lengths we have gone to with legislation, we have created a reputation that has spread throughout the industry and generated revenue through referrals.”

Glover’s main focus is on the overall growth of the company, not just his own book of business, and as such, he has strived to be an advocate for every producer and CSR at Threlkeld & Company.

currently oversees sales and marketing for ACBI’s employee benefits, commercial and personal insurance divisions.

Attributing his success to being surrounded by a great team, outworking the competition and understanding what it means to be a trusted advisor, Rabinowitz says it’s all about taking the time to listen to clients, uncover their needs and provide them with superior customer service.

“Identifying our niche and promoting our value to clients and prospective clients helps position us for growth,” he says. “Nothing comes easy – you can have all the tools and resources at your fingertips, but nothing works like hard work.”

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SPECIAL REPORT

TOP PRODUCERS

PLATINUM PRODUCER

JACOB BARZIVAND Producer PARAMOUNT EXCLUSIVE INSURANCE SERVICES

PARKER HOLT Crane and construction practice leader HIGGINBOTHAM

A veteran of the P&C brokering community, Parker Holt focuses on serving middle- to large-market clients

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Since Jacob Barzivand started selling insurance seven years ago, he has grown his book to more than $35 million in premium. Specializing in casualty insurance for transportation, construction and agricultural companies, Barzivand believes there’s no such thing as a day off.

“I am available to my clients at any time of the day, year round,” he says.

“I am always seeking to understand my clients’ weaknesses so that I have a solution to provide them in terms of risk management. I analyze my clients’ businesses from the ground up, looking not only at risk potential, but how their company operates as a whole.”

Instead of focusing on making a sale, Barzivand approaches his work by seeking to help his clients battle their problems. “I find ways to bring value so that not only does my client succeed, but so do the carriers I do business with,” Barzivand says.

who need risk management services and brokering capabilities to best negotiate and place insurance coverage. Specifically geared toward clients who have a significant casualty exposure in high-risk areas such as mobile and tower cranes, heavy equipment operations, heavy/ specialized/permitted haul, and large nonprofits with significant D&O risk, Holt coordinates class-specific underwriters and coverage, along with specialized risk management practices and capabilities, to create a relationship with clients rather than a transactional engagement.

“I have practice-specific expertise in construction, oil field, social services, manufacturing, wholesale/supply chain distribution, retail, and real estate,” Holt says, “and my specialties include all aspects of risk avoidance, mitigation, separation, transfer and finance via admitted and excess/surplus insurance markets. Complementing our practice is our in-house personal and high-net-worth private client coverage.”

ALEXANDER H. CAROTHERS III Commercial P&C risk advisor HARMON DENNIS BRADSHAW

Alexander Carothers has spent his entire 16-year insurance career with Harmon Dennis Bradshaw, and he continues to promote the agency’s goals by providing comprehensive risk management expertise and a commitment to customer service. Carothers uses his agency’s resources to provide policy review, contract analysis, human resource services, claim advocacy and loss control advice to his clients.

“The most important aspect of my growth and retention from year to year is really pretty simple: listening to the needs of my clients,” he says. “In an ever-changing insurance market, it’s easy to fall into the trap of trying to tell clients what you think they need or want. If you spend time listening and understanding their business philosophy, you end up earning trust and respect and a true working partnership. My clients work extremely hard every day to compete and succeed, and if Harmon Dennis Bradshaw and I can be a small piece of that success, then I have done my job.”

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TOP 2020

DAVID W. CLAUSEN CEO COASTAL INSURANCE SOLUTIONS

RAY SUATONI Market leader M&T INSURANCE AGENCY

In 1980, Ray Suatoni began his career with Wausau Insurance as an insurance and bonding specialist, then worked in the construction departments at Hatch Leonard Naples and First Niagara Risk Management before joining M&T Insurance Agency in 2011. In addition to his production duties, he is also the market leader for upstate New York, focusing on coaching younger producers.

Throughout his career, Suatoni has been “laser-focused on trying to exceed the expectations of my customers,” he says. He achieves this with the help of “very, very talented account managers” and by building mutually beneficial relationships with clients.

“Throughout my career, I learned how important purpose-driven prospecting is – to understand what is a good opportunity for the client, myself and my team,” Suatoni says. “Additionally, I have continuously focused on developing my technical knowledge and am very focused on advising my clients on proper risk transfer strategies.”

After getting his start in the industry working for his family’s insurance agency in a small coastal town on Long Island, David Clausen founded Coastal Insurance

JONATHAN BROOKE Vice president ACENTRIA INSURANCE

Solutions in 2001, specializing in property coverage for homes located on or near the coast. “Living on a densely populated island with beautiful homes occupying much of our coast, it felt natural to take a niche in insurance products that catered to property located near the water,” he says.

Over the years, Coastal Insurance has grown from insuring smaller seasonal homes to the luxurious homes of high-networth families. Last year, Clausen focused on improving the Coastal Insurance brand by expanding the company’s geographic reach and delivering a better customer experience through a custom-built CRM and an AI chatbot.

“It’s about deconstructing the complexities associated with the insurancebuying experience and simplifying it for the consumer,” he says. “Through technology, we’re able to improve client relations, anticipate their needs and provide fast solutions. We want to communicate with our clients the way they prefer, not how we want to deliver it.”

Making his second consecutive appearance on IBA’s Top Producers list, Jonathan Brooke brings 30 years of experience to Acentria Insurance, where he specializes in the construction and hospitality industries. Prior to joining Acentria, Brooke served as vice president of a local agency in Fort Myers, Florida, where he became a partner after just three years.

“Never assume anything,” Brooke says, highlighting the biggest lesson he’s learned throughout his career. “I believe in forming strong and meaningful client relationships and excel at analyzing coverage to reduce potential risk and exposure for my clients and prospects.”

Brooke has long played an active role in his community as a volunteer and board member with several organizations, including Big Brothers Big Sisters, YMCA, Heights Foundation, United Way, the Lee County Association of Independent Insurance Agents and more.

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FEATURES

AGENCY INSIGHT

Through thick and thin Luis Gazitua, partner at JAG Insurance Group, tells IBA how three young leaders came together to form an insurance agency in a risk-laden landscape

IBA: Tell us more about the journey of starting your own independent agency with your partners, Douglas Jones and Fernando Alvarez.

Luis Gazitua: Like anything, it had its ups and downs and significant challenges. I think one of the benefits was to do it along with two friends who are not only like-minded individuals, but also have the same moral compass.

Being able to, at 25 years old, start working together and growing up together was one of the biggest benefits.

IBA: How has the agency evolved?

LG: We started working as salespeople at an older, prestigious firm with quite a specific niche. Weinstein, Jones & Associates ran a captive program for the thoroughbred race industry, and that was what they did from the late 1980s and 1990s through to 2000.

When we got on board, we became the head salespeople for the firm, and then from there, we grew to the point where we outgrew that business model. The old firm grew on a specific niche, which is written in 50 states, but it was able to be served with a smaller customer service department. We became generalists – in the sense of selling various types of insurance products – and little by little, [we evolved] into JAG Insurance Group.

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We started to get our salespeople about five years into it and continued to grow. When we decided to come together, we felt like we could do [this business] a little bit differently, as far as changing the way an older industry setup was done and evolve it into how we envisioned it. We had a five-year perpetuation plan that accelerated to two years, and we turned into JAG Insurance Group.

IBA: How does your agency stand out in the middle-market space?

LG: We really invested in our people. So much of my first job was always, ‘You should be thankful to have a job.’ I think what we’ve done is shifted the mindset and really taken care of our staff and developed careers. We have a mix of people who we brought on with not only insurance backgrounds, but more customer service-based people who developed

their insurance skills. We’re focused a lot on the culture and the environment first, and we value everybody who works on our staff. In turn, they take care of our clients.

IBA: Where has JAG Insurance Group developed the most expertise?

LG: There have been three different verticals [we’ve focused on]: real estate, transportation and hospitality. Douglas specifically has grown the real estate portfolio through his relationships with some of the younger developers who are now growing. That’s a significant part of our book.

Fernando has a big focus in transportation, and I’m specifically in hospitality. My family is in the restaurant business, and they’ve been in the business for 35 years, so I grew up working in the restaurant. I understand both the front and back of the house at all these restaurants,

ABOUT JAG INSURANCE GROUP Luis Gazitua, Fernando Alvarez and Douglas Jones are three friends from college who all ended up working in the insurance industry. In 2005, they came together at the insurance agency Weinstein, Jones & Associates. In 2013, the agency was renamed, and JAG Insurance Group was born as a middle-market boutique insurance firm with a generalist focus. Today, JAG has three offices – two in North Carolina and one in Florida – and the founders’ goal is to become the largest privately owned independent insurance agency in the Southeast US.

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JAG INSURANCE GROUP’S AREAS OF EXPERTISE

COMMERCIAL Offers coverage for a wide range of businesses, both domestic and overseas

PERSONAL Offers homeowner’s insurance

“What insurance should be about is delivering peace of mind, and to do that, you need to not just be a salesperson, but provide the value of identifying potential landmines” so I’m able to identify and empathize with what they’re looking for.

We’re entering our primes now in our late 30s. When we got into the business, it was really just building from the ground up and trying to focus on growing relationships.

Where we were dealing with our friends or other people’s relationships before, now our relationships are taking the helm, which has helped us grow.

IBA: Your offices are located in two states that have seen several natural catastrophes in recent years. How do you handle those?

LG: It’s one of the more stressful parts of the

job, but we prepare for it. We do everything possible as far as being proactive in the sense of getting all our clients the information when a catastrophe strikes about how to go through the claims process and really talk about what happens when there’s a claim. So much in insurance is about the price, but we have a big focus on what happens when there is a catastrophe – who’s paying the claim, who’s your adjuster and all those little things that we do upfront so when it does happen, it’s an easier process.

IBA: How can independent agents, particularly those serving smaller communities, underscore their value

PRIVATE CLIENT SERVICES Provides coverage for valuables, including auto, watercraft and collections

FINANCIAL SERVICES Provides offerings in life, disability, long-term care and health insurance proposition to clients?

LG: What insurance should be about is delivering peace of mind, and to do that, you need to not just be a salesperson, but provide the value of identifying potential landmines, whether it’s cyber liability or employment practices liability. The unknown losses are the things that can stop a business from growing, and that’s something that needs to be highlighted – really looking at [the business risks] from a macro level and identifying the things that can stop the business from growing.

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FEATURES

SECTOR FOCUS: ENVIRONMENTAL

The next big threat: PFAS With more regulators taking action against the toxic ‘forever chemicals’ known collectively as PFAS, environmental insurance experts share their views on how the industry should prepare

WHERE PFAS ARE COMMONLY FOUND Photography

Firefighting foam

Shampoo

PFAS

Pesticides

Stain -resistant products

sources Fast food packaging

Paint

Nonstick cookware

Source: The Water Replenishment District of Southern California

AN EMERGING contaminant is increasingly becoming known as one of the biggest environmental threats and is catching the attention of insurance professionals across the country. Per- and polyfluoroalkyl substances (PFAS) are often referred to as ‘forever chemicals.’ The group includes more than 5,000 man-made, synthetic chemicals that are very difficult to break down in the environment and within our bodies. They resist degradation and have been linked to a variety of health risks, including hyper­ tension and cancer.

PFAS can be found in many everyday items like nonstick pans, grease-resistant packaging like pizza boxes and even your waterproof ski jacket. PFAS are most notably found in firefighting foam, which has been a large source of contamination to water sources in the US. Firefighters in some states – including Wisconsin, New York, Washington and Colorado – are beginning to switch to non-PFAS foam, and a nationwide ban across all fire departments will go into effect by 2024.

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A recent report published by the Environmental Working Group found that 43 cities and regions across the United States had PFAS in their tap water, including metropolitan hubs like New York City, Nashville and Las Vegas. Especially high levels were found in 20 more cities, including Washington, DC; Philadelphia; and Miami, where PFAS levels were at least 10 parts per trillion.

There is a growing awareness around the dangers of PFAS. The US Environmental Protection Agency has a lifetime health advisory for levels of PFAS over 70 parts per trillion, and states have begun to set even more stringent caps than the EPA. New York, for example, is in the process of setting a max concentration level of 10 parts per trillion for tap water, while California approved limits between 13 and 14 parts per trillion. Many other states have yet to take any action.

Despite the lack of regulation around the standard of drinking water in many regions and even federally, companies continue to face billions of dollars in resolution of claims, according to Toby Smith, president

of Ironshore Environmental.

“People are becoming more aware of emerging contaminants like PFAS, and with social inflation, they are looking to hold someone accountable,” Smith says. “In some cases, companies are being held liable for what we would consider really spotty liability, and that’s concerning.”

The state of Michigan recently announced plans to pursue damages from 17 chemical companies, including 3M and DuPont, for allegedly contaminating the state’s drinking water. In the lawsuit, Attorney General Dana Nessel claims the defendants’ use of PFAS in manufacturing is responsible for contaminating groundwater, including public drinking water sources. The lawsuit seeks to recoup the cost of addressing contamination at more than 70 sites in the state. In 2018, 3M agreed to pay the state of Minnesota $850 million to settle a similar lawsuit that alleged the company had contaminated groundwater and damaged natural resources while disposing of chemicals.

Amid this increased regulatory oversight

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and public awareness, experts are imploring insurers and brokers to work to understand all the risks involved. While many contaminants are measured by parts per million or parts per billion, PFAS are being regulated at the parts-per-trillion level.

“If you closed a big specialty chemical site 10 years ago, you couldn’t have tested for that,” Smith says. “Now, that same property may be redeveloped into a multi-use residential zone, and there’s a potential there may be a reopener for that.”

David Brereton, vice president of environmental impairment liability insurance at Denver-based program manager Freberg Environmental, agrees that there’s a heightened risk for potentially large claims resulting from PFAS. “Manufacturers and distributors of products containing PFAS are likely the most significant targets at this point,” he says, “but there’s exposure associated with disposal sites, wastewater treatment operations and poten-

“People are becoming more aware of emerging contaminants like PFAS, and with social inflation, they are looking to hold someone accountable” Toby Smith, Ironshore Environmental tial legacy environmental liabilities associated with certain former industrial sites.”

Brereton adds that it’s important to look at all areas of the supply chain and the history of a site because pre-existing issues can have just as big of an impact as new ones.

Legacy contamination can trigger policies for pollutants not previously detected that may be discovered during a future voluntary sampling or during development.

Brereton expects there to be a continued pullback in the pollution insurance market with regard to sites and products with past

and present PFAS exposures. In addition, potential insureds will be asked more questions about their use of and history with these chemicals, as the more information insurers have, the more equipped they’ll be to insure against the risk.

Not going away What’s most dangerous about PFAS, according to Smith, is their long-lasting environmental impact. Whereas fossil fuels can be fully cleaned up and natural resources can be restored to their original condition, PFAS

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FEATURES

SECTOR FOCUS: ENVIRONMENTAL

FAST FACTS: PFAS The two most popular PFAS compounds are PFOS and PFOA In the 1950s, 3M began manufacturing PFOA and PFOS for product applications because of their ability to repel water, protect surfaces and resist heat The US EPA has a lifetime health advisory limit of 70 parts per trillion for PFAS in drinking water High concentrations of PFAS have been linked to health issues including increased cholesterol, cancer and low infant birth weights Sources: US Environmental Protection Agency, 3M

and firefighting foam are incredibly hard to clean up and break down.

“I’d be a lot more concerned about the long-term impacts of specialty chemistry compared to oil and gas because with the financial backing, you can clean up an oil spill,” Smith says. “A year or two later, you go where the spill was and you don’t even know it ever occurred.”

He explains that insurance professionals in the environmental space should pay close attention to PFAS because a lot of industries, such as airports and defense spaces, have redeveloped chemical manufacturing sites, creating a tremendous amount of exposure. Historically, policies have also

“Manufacturers and distributors of products containing PFAS are likely the most significant targets at this point” David Brereton, Freberg Environmental responded to claims triggered by changes in environmental law during the policy period, including the introduction of new or stricter regulatory standards. There are also sites that store materials containing these chemicals, which can experience spills or leaks that can potentially get into the groundwater.

What to do now At this point, Smith says, there’s no need for a knee-jerk reaction, but it’s an important time to be observant. He suggests identifying clients who have PFAS exposures and assessing each one individually. Looking at each account on a case-by-case basis can help underwriters decide whether a certain exposure justifies an exclusion and will help ensure stability in the market.

The next few years will really determine whether dramatic rate increases are necessary, according to Smith. There’s still pressure in

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the market, but in the last decade, a lot of new markets have entered the space, which has a depressing effect on pricing.

Brereton says underwriters need to take a surgical approach when dealing with PFAS to carve out what’s uninsurable, rather than applying exclusions to wide classes of insureds.

“The best approach is to ask targeted questions about prior PFAS usage, understanding the proximity of sites to sensitive receptors and known areas of PFAS contamination,” he says. Fixed-site pollution and products pollution are the coverages most susceptible to PFAS-related claims, he adds, as well as older GL policies that pre-date any

applicable pollution exclusions.

According to a Willis Towers Watson report on the emerging PFAS risk, underwriting and claims departments at major insurance carriers are quickly taking steps to understand the potential exposure, catch up with the science and modify their underwriting process accordingly. These chemicals definitely represent a weak point in chemical companies’ risk profiles, and brokers and insurers alike need to be prepared for the possibility of an increase in claims frequency and severity, especially as more governments come online with new regulations.

“Our viewpoint is that when there are heavier regulations of drinking water standards and there’s teeth in the enforcement actions that the states and federal governments can bring,” Smith says, “we are going to see a dramatic increase in claims there – in the tens of billions of dollars.”

www.ibamag.com

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PEOPLE

CAREER PATH

MAKING CONNECTIONS Dawnmarie Black ascribes her success to never underestimating the value of relationships

Raised in an insurance family, Black got her start early, working in the mailroom at her father’s brokerage during summer vacation and attaining her producer’s license by the age of 18.

“My dad introduced me to a marketing rep from a major carrier when I was a teenager and made a point of showing me another woman being successful. I worked for another brokerage during university. The goal was to take over my father’s brokerage, but he sold it before I graduated.”

1985

GETS AN EARLY START

1991 1997

BROADENS HER HORIZONS Black’s second position, with Lexington Insurance Company, opened her eyes to international opportunity and allowed her to forge new connections.

“I was writing risks globally, including in Australia and the Middle East. My first trip to London was such a learning experience, and I was able to learn culturally from brokers around the world. It was a very young team of people and very social in nature. Almost every job has resulted in making connections in the job before.”

2002 GETS TO KNOW THE LONDON MARKET When Black began working across the US and London teams at Gallagher, it marked a turning point in her career, allowing her to hone her skills in bridging the gap between the two markets.

“I had 26 round trips back and forth to London – Virgin Atlantic sent me a bathrobe as a thank you!”

2018 JOINS LLOYD’S Black got the chance to put her relationship-building skills to work when a colleague at Lloyd’s called her to tell her he’d resigned his post and asked if she was interested in putting her name in for the job.

“Working for the Lloyd’s brand and corporation was a chance to view the market through a new lens. I have to have a wide swath of industry knowledge so I can help any stakeholder. We do a lot of connecting and networking.”

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WORKS HARD, PLAYS HARD An on-campus visit with Chubb ultimately kickstarted Black’s insurance career via an intensive training program.

“I knew they were coming to campus, so I signed up: I was pretty confident that I understood distribution. They hired two of us from the campus, and we entered the training program. The first eight weeks, we lived in a hotel – imagine 25 recent college graduates living in a hotel together! We worked hard but managed to have our share of fun as well.”

2001 IS TOUCHED BY TERROR Hired by Aon based on her work at Lexington, Black was lured by the ability to work from home, meaning she wasn’t in the company’s office in the World Trade Center one crucial morning in September.

“I lost a lot of friends in 9/11 – it was life-changing. We also lost all our policy documents. People pulled together and helped each other. Terrorism insurance became a product, and I placed my first large terrorism policy.”

2006 BUILDS A NEW PLATFORM A return to Aon Benfield led to one of the most intense periods of Black’s career: the building of the FAConnect product.

“I had never worked on an IT-driven project, and they wanted a proof of concept for this platform in six weeks from nothing.

Everyone loved it; four months later, we had a global market launch. I worked 18-hour days. It was challenging professionally – and we won multiple awards for the product itself.”

www.ibamag.com

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PEOPLE

OTHER LIFE

TELL US ABOUT YOUR OTHER LIFE Email iba@keymedia.com

Froma n has collected a nd distributed toiletries to Atla nta’s homeless population for four years

1,500

Approximate number of toiletry kits Froman’s team has handed out so far

143

Number of kits assembled at Froman’s last packing party

3

Established charities involved in distributing the kits

DOING MORE Insurance executive Susan Froman has made it her mission to bring the dignity of cleanliness to the homeless IT WAS the adjuration from her mother to always “do more,” combined with the mountain of complimentary hotel toiletries she collected on her professional travels, that prompted Susan Froman to create the ‘My Do More’ circle four years ago.

“I was feeding the homeless and realized they would ask for socks and tooth-

64

brushes,” says Froman, a senior vice president at McLarens. “I put a call out on social media [for donated toiletries], and it turned into this machine: People at work give me bags [of toiletries], or people will ship a box to me. One longtime friend brought me a hockey bag full of toiletries in Atlanta that he had checked at the

Portland, Oregon, airport.”

Froman herself goes out on the street once a month to put toiletry kits in the hands of those who need them most.

“You look the person in the eye, treat them with respect and dignity, and shake their hand,” she says. “I am all about personal interaction.”

www.ibamag.com

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