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Senior Vice President, Managing Director
Aon, Philadelphia

Let Him Sit in Your Chair

Sean McFaul, associate risk manager for the Cambridge, Mass.-based Genzyme Corp., pays what he considers the highest compliment to an insurance broker when he describes Tim Gosnear as a man who can sit in his chair, metaphorically speaking, and come up with solutions from that perspective.

That includes a creative solution involving a captive insurance company and the use of complex financial instruments that satisfied the high limits imposed by the German government for pharmacy product liability insurance. Many other companies simply went along with those high limits at enormous cost.

Since Germany is just one of dozens of countries Genzyme operates in, Gosnear's expertise in the different business cultures throughout the world is another invaluable asset, McFaul said.

Another example stemmed from the refusal of a contract manufacturer to obtain errors-and-omission coverage. It left a gap that Gosnear, senior vice president for Aon, filled at a time when low product inventory made the issue paramount for Genzyme.

An executive at a different pharmaceutical company flat-out told Aon, "The biggest risk they face is that if Tim leaves the account."

Gosnear's expertise and diligence during the merger phase of two giant concerns left the executive involved in the deal more than satisfied.

"We harmonized the insurance programs and generated a great deal of value capture," the executive said.

Managing Director
Aon, Philadelphia

Wonder Woman for Clients

"Energizer bunny" and "Wonder Woman" are among the nicknames bestowed on Aon Managing Director Beth Henry by one very satisfied client from a major global corporation, who has worked with Henry's team at Aon for more than two years.

"She is always on top of our problems and alerts us to global issues on a proactive basis so we can react on a timely basis with our locations," he said.

The executive can sense how respected Henry is within the Aon organization. "They seem to know that, if she has a concern, they need to pay attention. She is fair as well, and complements her team, which in my opinion is how she has earned such respect on a global basis."

That respect has also carried over to the carriers. "That is not just my opinion. Ask any underwriter she has done business with. As you know when working with the carriers, there is always a give-and-take relationship. With Beth there is very little game-playing that takes place, and they have great respect for her abilities," he said.

"I have been in the risk management industry for over 35 years and have had the privilege of working with some of the best brokers, and Beth is tops, in my opinion," he added.

Henry's leadership role has evolved from her two decades in Aon and includes leading a global client network team of 10 and acting as national client director within that group. In addition, she works with the environmental team in dealing with new European legislative pressures.

Managing Director
Aon, Los Angeles

Doing Federal Right

Jeff Purdy's three decades of risk management experience has put him in contact with dozens of insurance brokers. It has only taken a couple of years for him to realize that Mary Judson stands head and shoulders above the crowd.

Judson specializes in Defense Base Act insurance so critical to federal government-oriented companies such as Falls Church, Va.-based Computer Science Corp., where Purdy is a risk manager. Transitioning from a 20-year relationship with a DBA insurer to a carrier with limited experience in the area presented some nerve-wracking challenges.

"These are claims that can involve serious injury and emergency evacuations from hostile environments," he said.

Judson's professionalism and diligence in managing the tricky transition won Purdy's respect and loyalty. In addition, Judson, managing director with Aon in Los Angeles, has been an invaluable resource as CSC has decided to bring a more centralized approach to risk management operations. "As an example there was a local issue in Germany that had the potential to develop into an unpleasant interpersonal situation. Mary intervened to help manage the situation and resolve the issue to everyone's benefit," he said.

In a "people" business such as insurance Judson has found her true calling. "She has the benefit of a personality that enables her to approach the most challenging problems in a way that encourages all involved to believe in the possibility of success," Purdy said.

Managing Director, Strategic Account Manager
Aon, New York

Global Coordinator for Multinationals

In her two decades as an insurance industry expert Madeline "Lynn" Serpico, managing director for Aon in New York, has been a leader in understanding global risk trends in the retail, communications and manufacturing sectors.

It was just as much for her work in coordinating global resources for dozens of companies within the same industry as it was her achievements in getting results for one particular company that she received this award.

"A company with multinational operations must be continually reviewing its global insurance programs to ensure that they are the best and are supporting the insured and are compliant," said one risk executive for a retailer with a huge global footprint. "In this regard, Madeline has been successful in bringing the totality of Aon's global resources to my company, and coordinating to ensure we have a seamless approach to global risk management."

As the coordinator for Aon's annual Retail Symposium for its more than 35 clients in that sector, Serpico has kept a keen eye on emerging trends and her clients have benefitted.

Serpico also spearheaded Aon's Global Optimization Project for one major retail client that included first gaining chief financial officer-level support, which was followed by visits to countries where the client operates.

Serpico and her team concluded that the global optimization approach saved clients 20 percent on their total cost of risk outside the United States.

Managing Director, Midwest Manufacturing Leader
Marsh, Chicago

She Is a Champion of Change

The manufacturing sector in this country has undergone incredible transformation over the past 40 years, and Marsh's Chicago-based Managing Director Sara Sirotzky has kept up with every subtle and not-so-subtle change to provide her clients with the best possible service.

For example, in the workers' compensation arena, Sirotzky has developed a post-offer test that ensures new hires are slotted to jobs they are physically capable of handling. She also developed a unique understanding of the challenges of providing proper directors' and officers' (D&O) coverage for foreign subsidiaries of U.S. parent companies.

Her fierce client advocacy skills and determination have resulted in clients obtaining insurance settlements at times when it seemed the carrier held all the cards. It took six months in the case of a recent animal park incident to prove to the carrier that a contractor was responsible for the loss, whose carrier ultimately paid the claim.

"I feel that she is a champion for us," said an executive of one such client. "She frequently offers to harness the talents of others in the firm for our benefit."

If a client has losses not acknowledged by an insurer, she will investigate thoroughly even when the placement is completed by a different broker.

And in the case of cash flows that are transferred to a client's captive at what she considers too slow a pace, Sirotzky will be on the phone soon with the right contact to speed up the process, using her years of experience for the betterment of her client's bottom line.

Category: Global

Leading by Example with Integrity

Sara Sirotzky, a managing director and Midwest Manufacturing Practice Leader for Marsh, is the type of person who watches out for her clients, her company and the community.

She's the founder of Professionals in Transition, a nonprofit volunteer group that provides job referrals for executives in finance and human resources. She's very active in the Chicago community, serving on the board of the Chicago Network, with past experience in the Executive's Club of Chicago, the Joffrey Ballet and the Marianjoy Rehabilitation Hospital. She's also a member of the Economic Club of Chicago, the Chicago Financial Exchange, the International Women Forum and other organizations. Sirotzky has also taught, published articles and speaks on enterprise risk management and evolving risks.

People take different career paths to the top, and Sirotzky provides another type of model. She has spent her entire 40-year professional life with Marsh and has been named a top performer at the company for three years running.

"She clearly practices building strong relationships rather than being transaction oriented. I admire her honesty and integrity,'' one client said.

Sirotzky's work is also infused with a strong sense of ethics. If Sirotzky feels she's not the right person to be representing a particular client, she will request to be transferred away from the account. If she feels competitors are pricing a piece of business irresponsibly, she'll walk away from it.

Sirotzky holds an M.B.A. from Northwestern's Kellogg Graduate School of Management and an IIT Chicago Kent master's in financial markets and trading.

Senior Vice President
Aon, Philadelphia

Keeping Everyone on Track

For Biogen Idec Treasurer Michael Phelps, having an insurance broker who understands his business to the point that he can come up with creative cost-saving risk solutions is what good customer service is all about. In Ray Subers, senior vice president for Aon in Philadelphia, Phelps has found someone who has indeed met his exacting criteria.

"Over the past year, Ray has not only delivered extremely favorable policy renewals both in terms of rates and terms, but has initiated ideas that have resulted in continued improvement and business processes," he said.

Clinical trials present a coverage challenge for the Weston, Mass.-based company as it enters new markets in India and Latin America. "Ray understands our business needs as well as we do, and he developed a creative solution to improve our clinical trial insurance program," Phelps said.

Subers has introduced a technology program that has resulted in significant savings as clinical trial coverages around the world have been streamlined, Phelps said.

Lisa Balcerak, senior risk manager for the Durham, N.C.-based Quintiles Transnational Corp., has come to rely on Subers "to keep the team on track when there are a particularly large number of balls in the air," she said.

Subers is the kind of guy to congratulate a client on an anniversary or ask how a child's big game went, among the qualities that make working with him pleasurable, she said.