Newsletter Sign-up

Managing Director
Guy Carpenter & Co.
New York

Broker Drills for Solutions

Facultative energy specialist Jo Edwards, a managing director with Guy Carpenter & Co. in New York, is just that--a specialist who eschews off-the-shelf solutions.

"Many of her competitors try to push or sell a predetermined deal that can be easily placed in the reinsurance market regardless of whether or not it meets my account needs," a client said. "She is always engaged throughout the process of finding a reinsurance solution and provides meaningful feedback that aids my underwriters in meeting their reinsurance needs."

An example of Edwards' ingenuity is her placement of coverage for a new, large U.S. processing risk. Despite their diligent efforts, the risk's retail agent and a core group of insurers could not overcome capacity and coverage problems in the global insurance marketplace, leaving the risk short of the capacity it needed.

Edwards capitalized on her expertise in the energy arena to build a reinsurance placement that drew on U.S., European and Asian markets to enable the ceding insurers to increase capacity to the energy risk, securing the coverage.

"There are many reinsurance brokers in the marketplace that can provide capacity for my reinsurance needs, however many do not offer the combination of technical expertise with a personal touch that gets both the large and small premium accounts placed, whether they cover risks with large vapor cloud explosion exposures or benign risks," the client said.

Senior Vice President
Willis Facultative
Chicago

Accustomed to Customers

Sabrina Rizzi, senior vice president for Willis Facultative in Chicago, is a custom builder.

Responsible for Willis Facultative's national property operation last year, Rizzi tailored programs that addressed clients' needs and demonstrated her creativity.

For one large energy client, she fashioned a deductible buy-down program that attracted reinsurers and enabled the client to cut its retention to a desirable level.

Partnering with Willis Treaty, Rizzi fabricated blended facultative/treaty protections, including a wind program for one high-risk client and another protection that allowed a client to bundle various risks.

Rizzi's unique structures enlist foreign options, as well as domestic markets, giving Willis U.K. opportunities to expand into the U.S. marketplace. Her efforts last year generated more than $1 million in revenue for Willis.

"As the manager of the entire Ironshore U.S. property group, I don't place any facultative reinsurance currently, but I have referred Sabrina to our managers and underwriters, and she is one of our top reinsurance brokers," said Edward Mazman, executive vice president for Ironshore. "And it is always good when you refer someone and the reports you get back are very positive; it gives you instant credibility with your staff and Sabrina has made me look good on a regular basis."

"As we've worked together, I've found that she knows everyone and understands what the various markets will or will not do," another client said. "I always go to Sabrina with my tough placements."