Last fall, OneBeacon welcomed Brian Lester to the Management Liability team as a Crime Underwriting Specialist. Based in the Chicago, IL office, Brian’s role focuses on expanding Management Liability’s commercial Fidelity/Crime book of business. Brian joined the team with over 20 years of experience, both as a broker and as an underwriter focused on crime and all management liability lines.
“I joined OneBeacon because it was an opportunity for me to build a business from the ground-up,” says Brian. “Since joining, I have collaborated with the existing team to develop a marketing strategy that has allowed us to educate our brokers and bring new business opportunities to the company.”
Brian’s efforts to develop OneBeacon’s crime book gives the company a niche in the market and allows us to stand out among other specialty providers.
So far, Brian has written more than ten accounts with OneBeacon’s crime solution, which covers anything from employee theft, money securities and property. If an employee steals company assets like computer monitors and tries to sell them, the OneBeacon crime solution will protect that business from experiencing loss due to the employee’s wrongdoing.
“I enjoy working in the Fidelity space as no two accounts or claims are the same. Each day, I am challenged to work collaboratively with my brokerage partners to develop competitive insurance solutions for our clients.”
In his career, Brian has encountered many unique claims, including one of a “missing” bridge. He recounted that the “insured was a contractor who had been hired to demolish an old metal bridge and build a new bridge in its place. The value of the ‘scrap’ metal from the old bridge was built in as revenue to the Insured for this project. During the course of bridge demolition and removal of the scrap, it was discovered that a large amount of the scrap metal had gone missing. After an investigation, it turned out that an employee of the insured had stolen several tons of the scrap metal to sell for his own benefit. The total loss was more than $2 Million dollars.”
Brian’s work expanding our crime market goes beyond the Management Liability team. Over the past few months, he has also been able to partner with several other OneBeacon teams, such as Technology and Financial Institutions, to further their product offering and collaborate on a cross-market approach.
Brian looks forward to hopefully working with more teams across the company in the future, and welcomes any questions regarding his work and how the OneBeacon crime solution could benefit your business unit!