Marsh, San Francisco
Marine and Retail
Scott Lamb knows the marine and retail business inside and out and it shows in his solutions for clients.
For one global ocean transportation client, Matson Navigation in Oakland, Calif., Lamb structured its hull and machinery program in a way that allows multiple participation from insurers in the U.S., France, London, and Norway. Lamb, managing director for Marsh Inc., in San Francisco, was able to maintain a "competitive tension" among the participating insurers, which have resulted in significant cost savings for Matson.
Lamb also created a liability program that contains multiple primary liabilities, as well as combined marine and non-marine excess lines, with unusually broad coverage terms typically not available from the broader market.
Mary Tanios, Matson's director of risk management, said that Lamb's ability to roll 10 cargo policies into a consolidated program has saved the company money and for Tanios, "a tremendous amount of administrative burden."
"Now we can automatically insure each of the shipments and we don't even have to consult with the underwriter," she said. "It saves us a tremendous amount of time and in addition we can bid on shipments much easier."
Moreover, Lamb is very aggressive in marketing Matson's renewals and he almost invariably exceeds the Tanios' expectations every year. For his retail and wholesale clients, Lamb was able to produce two highly effective stock throughput products for a major grocery chain and distributor that resulted in more coverage at far less cost.
February 21, 2012
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