Wells Fargo Insurance, part of Wells Fargo & Company (NYSE: WFC), was named North America’s Best Insurance Broker by Global Finance as part of the magazine’s annual Best Global Insurers awards program . Winners were selected based on responses from more than 1,200 readers around the world and a panel of risk management and financial executives from major global companies. “Insurance is a core business in Wells Fargo’s mission to help our customers succeed financially by protecting what they value most,” said Laura Schupbach, head of Wells Fargo Insurance. “We are honored to receive this award by Global Finance. We have some of the most talented team members in the industry, and this award recognizes their commitment to provide our customers with excellent service.” “As they operate in an increasingly complex and competitive environment, businesses in all parts of the world must find ways to address larger and more challenging exposures. Meanwhile, insurance companies must continually assess their own risk portfolios to maintain their financial security as they develop solutions to help clients address emerging exposures,” said Joseph D. Giarraputo, president and publisher, Global Finance. “The survey findings offer insights that may be useful to readers as they make critical choices about their risk management strategies and providers. We congratulate this year’s winners and thank our survey participants and panelists for their assistance.” The survey focused exclusively on property and casualty insurance lines and did not address life and health insurance issues. Survey participants and the 13 panelists were asked to select insurers in each of the categories according to the following criteria:
- Innovation/Creativity - the ability to develop and offer meaningful solutions to risk issues.
- Capacity, pricing and coverage terms.
- Financial security/stability as qualified by various ratings agencies where available, and buyer or insurance broker perceptions when ratings are not available.
- Reach - the availability of underwriting or service resources on the ground in areas where risks exist and coverage is provided.
- Service delivery, especially with respect to claims handling, but also in terms of pre-loss service capabilities, such as loss control.