2018 US Insurance Awards: R-T Specialty L.L.C., Wholesale Brokerage Team of the Year (tie)

The philosophy of the wholesale brokerage team of R-T Specialty L.L.C., a unit of Ryan Specialty Group L.L.C., is to “work tirelessly for our clients until they have absolutely the best program and what they’re looking for,” said Terry McCann, R-T Specialty’s Chicago’s president and managing director. “We don’t stop until we get them what we need.”

R-T’s seven-person construction team handles its client’s toughest placements, “usually on a short fuse,” Mr. McCann said.

“We want to be excellent partners to our markets by advocating for the risk and looking for a fair deal from the insurance marketplace,” Mr. McCann said.

The team has grown from its inception in 2010 to more than $200 million in 2017 premium.

In a dead heat, R-T Specialty tied for Wholesale Brokerage Team of the Year in the 2018 U.S. Insurance Awards.

An example of this work is a large real estate owner and manager with an in-house general contracting firm that came to the team looking for a solution for a pipeline of 47 projects beginning in 24 months, with a total construction value of more than $4.8 billion. Each project had an average $100 million in construction costs, and the site locations were all over the United States.

The client needed a multiyear policy consistent with market-leading teams and conditions, dedicated limits of $50 million to $100 million for each project and added flexibility to account for when an outside general contractor would be used.

The team created a program that provided a turnkey approach for its client that included dedicated limits, agreed rates and consistent terms, and permitted a swift closing that eliminated any insurance-related construction delays, Mr. McCann said.

“Having a team was essential, because no one person can handle a risk this hard on their own,” said Mr. McCann.

Finalists:

• Breckenridge Insurance Group Inc.
• Brown & Riding Insurance Services Inc.
• Burns & Wilcox Brokerage
• R-T Specialty L.L.C., a unit of Ryan Specialty Group L.L.C. (two teams) 

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