Breakout Awards 2020
Business Insurance’s Break Out Awards program honors 40 top professionals on track to be the next leaders in the risk management and property/casualty insurance field.
Break Out winners from across the United States are recognized for their leadership and professional skills and can be working in any area of the industry — risk managers, brokers, insurers, reinsurers, MGAs, MGUs, wholesalers, captive managers, TPAs, lawyers and other providers serving the commercial insurance sector.
It’s unclear in what shape the insurance and risk management sector will emerge from the COVID-19 pandemic, but there’s little doubt it is going through change. Even before the coronavirus struck earlier this year, insurance prices were rising, technology was transforming business processes and new risks continued to emerge.
With the onset of the pandemic, huge social and economic changes have been imposed on everyone in the space of weeks, some of which will be transitory, but some will have lasting effects. As we work through the upheaval, business smarts and adaptability will be an even more valuable commodity. Fortunately, many organizations in the sector have those skills in hand.
The 40 honorees selected for the 2020 Business Insurance Break Out Awards represent some of the most talented leaders developing in the industry. To be eligible for the award, nominees must work in commercial insurance or related sectors and cannot have worked in the field for more than 15 years. To maintain diversity in geography and types of organization, the honorees are grouped in four regions of the United States: Northeast, South, Midwest and West.
All the nominations — which highlighted the nominees’ client-service skills, expertise and leadership qualities — were reviewed by BI editors. After selecting finalists, we contacted references to learn more details about the nominees’ achievements.
In the following pages, you can read edited excerpts of interviews with all the winners and learn how they found their way into the industry, what they find most challenging about working during a pandemic, things they wish they’d known when they were 18 and their top choices for movies and meals — pizza remains a perennial favorite.
Gavin Souter, Editor
Congratulations to Our Award Honorees
- NEW JOB TITLE: New Jersey-based chief financial officer, Everest Insurance Co. PREVIOUS POSITION: New York-based senior vice president, director of finance, Sompo International Holdings Ltd. INDUSTRY OUTLOOK: The outlook is strong. The current coronavirus public health crisis will have an impact on the insurance industry in the short term, but economic activity will return and those who are well-capitalized will be able to work through this.
- NAME: Paul Hyer NEW JOB TITLE: Minneapolis-based rating agency advisory leader, Lockton Re PREVIOUS POSITION: Minneapolis-based associate director of rating agency advisory, Aon PLC INDUSTRY OUTLOOK: I would have had a much different answer if this was pre-COVID. Working in reinsurance broking with insurers of all classes and sizes, the outlook varies greatly. Overall, the industry remains well-capitalized and […]