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After working for a while as a general commercial property/casualty broker, Marc Schein figured that to stand out from other, more experienced brokers he needed to find a niche. He focused on educating himself about cyber risk. At Marsh McLennan Agency, which he joined in 2016, he is responsible for his own book of business as well as educating clients and colleagues about cyber risk, among other things.
What’s your advice on navigating the current insurance market?
Start early and focus on controls. Insurers now are becoming much more cognizant of the controls businesses have in place when looking to put out limits around cyber insurance than they were three or four years ago prior to the pandemic. In the past, businesses perhaps were able to transfer the risk rather than fixing the risk.
What should the industry do to attract more young people to work in it?
Let them know about the leadership opportunities that are going to be available in our space as we see this massive generational shift of folks retiring in the insurance industry.
What is something about you that would surprise people?
I’m a huge Dallas Cowboys fan. My dad grew up in Texas, and we used to travel around Texas and go to the Cowboys training camp. One year, my sister, who was about seven at the time, was looking to get Emmitt Smith’s autograph and she was getting crushed by the fence. Emmit pushed everybody back and pulled her over the fence, and there was a young woman that worked for the Cowboys — Susan Skaggs — who brought me and my family over to the field, and we had lunch with Emmitt Smith and Troy Aikman.
What did you want to be when you grew up?
A professional wrestler.
“New York, New York” by Frank Sinatra.Click here to Watch Video