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Tim Farward

Property Placement Specialist - Marsh Specialty | Philadelphia

02/01/2023

  • Job Title: Property Placement Specialist
  • Business: Marsh Specialty
  • Office Location: Philadelphia
  • Joined Marsh: June 2009
  • Hometown: Philadelphia
  • Education: United States Naval Academy, B.S., Systems Engineering, Old Dominion  University, Master’s in Engineering Management
  • Personal Interests and Hobbies: Volunteering, woodworking, model building, sports

Meet Tim

As a property placement specialist focusing on the Power and Utilities area, my primary focus is the execution of market placement activities for my clients. I engage with the markets and educate my clients on the changing environment and appetite of the marketplace.

Marsh has a learning culture. Tell us about something new you learned recently. How did you learn it? 

As most folks know, there has been a greater focus within the energy sector to grow renewable energy power generation. As such, a lot of new technologies are surfacing. I was not fully aware of a particular newer technology, so I reached out to a few colleagues at Marsh with that particular area of expertise to seek guidance. I received a good bit of information; however, I took it a step further and "dug into the books" to increase my depth of knowledge on the subject suitable to educate other Marsh colleagues and markets on this new technology. This gave better clarity on the issue to a level where I could advise my client on anticipated market reactions to this new technology.

How has Marsh helped you progress toward your professional and personal goals?

I started at Marsh in the nuclear practice, which has been hiring “nukes” for the last 60 years. Colleagues working on the nuclear piece alongside a different specialty. Experienced hires then advance into various practices, like Casualty or Property, and the open spots are backfilled. The philosophy is that continuing to hone your craft is best achieved by moving on. I became the practice leader for nuclear and eventually moved into Property, a more conventional field.

Something that I also found very fulling was a talent initiative within Energy and Power that paired up mentors and mentees. There is a real benefit to having someone out of your chain of command provide unfettered perspective and guidance. I served as a mentor, and my participation really helped me grow. My mentee took my advice to heart and is thriving. Seeing that was a reward in itself.  

Marsh has a professional workforce dedicated to improving themselves and doing the best for their clients. Being surrounded by like-minded individuals challenges me to strive for continuous improvement. 

How had your education or previous work experience translated to working at Marsh?

I served in the US Navy on nuclear submarines before joining Marsh. When serving on nuclear submarines, there are very detailed policies and procedures that govern the safe operation of the ship and the nuclear plant. It is imperative that you are deliberate in following those policies and procedures. This discipline instilled a driving desire to be deliberate in serving my clients at Marsh.

When it was time for me to transition from active duty, I was looking for opportunities where I could still use my engineering background and move into the business field. Coincidentally, a friend of my roommate at the time and a crew member on my submarine were working at Marsh and reached out to me to discuss career opportunities at Marsh. Once I interviewed, I learned that Marsh served a large portion of the commercial nuclear industry. This piqued my interest, and I was 100% sold.

What is the most meaningful advice you’ve ever received?

The most meaningful advice I’ve received is about taking new opportunities which can advance your career and allow you to grow. Don’t make decisions based only on fear, whether fear of failure, fear of not being accepted, or fear of change. This will prevent you from taking on challenges that could stretch your boundaries and make you a better person.

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