Building Relationships and Managing Risk
An Interview with Brock Nettleton, CIC, CRM
Brock Nettleton, Business Risk Advisor at Hummel Group, specializes in helping oil and gas companies enhance their risk management programs by tailoring solutions to meet their specific needs.
How long have you worked at Hummel?
I first started as “the intern” during the summer of 2017. I then began working full-time in an advisor capacity in January of 2018 after earning my bachelor’s degree in business administration with a focus on insurance and risk management.
What does a risk advisor do?
A risk advisor helps businesses identify, assess, and manage risk. At the end of the day, our clients want assurance that their assets, operations, and financial stability are protected. To achieve this, we help implement strategies to mitigate risk and provide recommendations for the appropriate insurance coverage given the exposure.
How did you first get involved in this field?
I grew up in Wayne County, which is known for being a rural agricultural community. While I love that aspect, I wanted to flip the script after high school and experience college in a “bigger city,” which led me to attend The Ohio State University.
Unlike most people, who end up in the insurance industry by chance, I chose to pursue a career in this industry early on. In my sophomore year of college, we had to pick a specialization within Ohio State’s business school. I initially shrugged off my advisor’s recommendation to investigate the insurance specialization because I had always thought a finance or marketing degree was more attractive. Given the fact that the finance department was at maximum capacity at the time, I took the introductory class for insurance, and things automatically clicked. I then realized the opportunity that exists within this industry, and here we are.
What were your early experiences in the industry like?
My first job in the insurance industry was an internship with Liberty Mutual. It was a personal lines sales role that included A LOT of cold calls trying to sell home and auto insurance. While I liked the challenge, I came to the realization that I would prefer a job with more variety and face-to-face interactions. The following summer, I interned with Hummel. This enabled me to determine what I enjoyed most (commercial insurance) by working on projects across all our different departments.
What is life outside of Hummel like for you?
I believe many of us at Hummel would have a similar response centered around our families. For my wife, Megan, and me, life is about to change significantly, as we expect our first child at the end of June.
Megan and I were married four and a half years ago during the pandemic. With limited honeymoon options in 2020,
we decided to tour Northern Michigan, a trip we have since repeated to revisit some of our favorite spots. We both enjoy traveling, whether it is a quick weekend trip to my in-laws’ cabin in West Virginia, Jackson Hole, Tennessee, or somewhere tropical. We find solace in escaping the busy day-to-day to explore new places.
In my spare time, you can likely find me working outside on our family property. With my grandparents turning 93 this year and still residing there, much of the property maintenance falls to me, and I treat it as a hobby. I also find enjoyment in all things outdoors, including boating, riding side-by-sides, golfing, hiking, hunting, and anything that “goes bang."
How does your background affect how you approach risk management and insurance?
My background has significantly shaped my approach to risk management and insurance. Growing up in a family that emphasizes faith, work ethic, integrity, and humility has been instrumental when it comes to applying those disciplines daily. Academically, my studies focused on insurance and risk management have provided a solid foundation for understanding risk, the principles of insurance, and how the industry operates.
Do any particular client types seem to work really well with you?
We work with a diverse array of clients, ranging from contractors and manufacturers to real estate investment firms and equipment dealers. Over the past five years, I
have focused more on the oil and gas industry. I have found that clients resonate particularly well with our approach to assessing their risks, providing tailored solutions, and implementing strategies to mitigate those risks and protect their businesses moving forward. Those working in the oil and gas industry benefit from our detailed approach to risk management, ensuring they have comprehensive coverage tailored to their specific needs.
What are some common issues that prospects and clients are dealing with right now?
Master service agreements (MSAs) in the oil and gas industry often require specific coverages and endorsements to be added to policies. Not everyone is familiar with these endorsements or understands the exact requirements. At Hummel, we meticulously review these contracts to ensure our clients have the necessary coverages and limits included within their policies and remain in good standing.
Over the past 5–10 years, the excess liability marketplace and capacity of insurance carriers have significantly decreased. When I first entered the industry, securing a
full $10 million excess liability policy from a single carrier was relatively straightforward. Nowadays, you are often required to build a tower of excess liability using multiple insurance carriers with a maximum offering of $5 million per policy.
Increasing rates and limited options for insurance placement continue to be common issues. With only a limited number of carriers providing coverage in the oil and gas industry, this can lead to higher risk concentration, reduced capacity, and less competition among insurers. As a result, premiums can rise, and clients may face less favorable terms.
What do you enjoy most about your job?
Building relationships with clients is something I truly enjoy, whether that involves reconnecting with someone I already know or meeting someone new. I find the sales process rewarding, but equally important is servicing existing clients with the support of our dedicated service team.
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