BY MARK E. RUQUET
It is sometimes said that listening is a lost art, and if that had been the case at Cottingham & Butler, this insurance brokerage firm would probably have ended up as just another Main Street agency filling the basic coverage needs of residents and businesses in a small American town.
Instead, this Dubuque, Iowa-based firm has grown into a national brokerage, with a diverse book of business ranging from traditional risk-transfer to some of the largest agency captive programs.
“Our growth came through client demand and being an astute listener to what people are looking for,” said David Becker, president and chief operating officer of C&B.
The firm’s ability to offer solutions beyond traditional markets and have an impact well beyond its modest headquarters is partly why C&B was chosen as the “2007 Champion” in the sixth annual “National Underwriter Commercial Insurance Agency of the Year” award program.
Much of the credit for the emphasis on listening and partnership goes to John Butler, C&B’s chairman and chief executive officer—who developed the theory that as a broker, you don’t sit across from your client but on the same side of the desk. “Listen to the client,” he said. “Get on the same page and then go out and solve their problems.”
A key to success at C&B is they won’t work with just anyone who walks through the door. Instead, they do business with clients who “focus on the total cost of risk, not just insurance costs,” the agency noted in its award essay. “We rigorously screen our prospects. We only work with those that want a true partner in managing their risks and where we can add value by impacting some component of their risk program.”
C&B sticks to its risk management philosophy whether the market is hard or soft. “We don’t peddle policies and get in bidding wars,” the agency emphasized. “We help our clients understand the insurance marketplace, not just shop it. When the market is soft, we help them understand that, and potentially adjust their appetite for risk.”
The bottom line, according to C&B, is that “our clients recognize they must invest in their own fate and see their risk management program over a long-term horizon. We strive to help them identify where they should invest their limited resources—money, time and talent—to have the biggest impact on managing their risks.”