Timothy M. Pedersen Jr., Senior vice president, transportation practice leader, Brown & Riding
Timothy M. Pedersen Jr.
Brown & Riding
Specialty: Excess transportation
When Brown & Riding acquired his former employer about six years ago, Tim Pedersen Jr. saw an opportunity in oil & gas and began writing excess on fuel haulers. After re-evaluating his book at the end of the year, he realized he was hitting on excess transportation and decided to head in that direction. “Sometimes you take a path, thinking you know where it will lead, and find yourself heading to a different destination that ends up working out better than you had ever thought,” Pedersen says.
Now, as practice leader of Brown & Riding’s transportation group, Pedersen oversees a book of business that has tripled over the past three years and is on pace to continue that growth trajectory. Within the last 12 months, he has built the practice group from three to eight producers and has established B&R as a national presence in the transportation space.
“Excess transportation is a rapidly evolving marketplace,” Pedersen says. “We have markets pulling out, we have new entrants to the marketplace, and we have carriers changing guidelines. It is a marketplace with limited markets, and one relies on their carrier relationships more than some other areas. Staying on top of it takes knowing the players and not only the markets, but also the reinsurance marketplace and the competition, especially in a world where most of the markets are limited distribution.”