July 25, 2017 - Meadowbrook Insurance Group has appointed industry veteran Fred Browning to chief underwriting officer. Prior to the appointment, Browning served as the company’s senior vice president of admitted carrier operations.
July 24, 2017 - Norman-Spencer Agency, Inc., a national property and casualty insurance provider, has opened a new recreational marine operation in High Point, North Carolina.
State of Program Business Study Presentation
Moderator: Christopher Pesce – President, Maritime Program Group
Jack Russell, Allianz
Scott Hanson, AmRisc
Roger Bickmore, Tokio Marine Kiln
Dynamic fast paced presentation of major benchmarking areas explored in the 2017 State of Program Business Study. The presentation will be moderated by one of your program administrator peers with a panel of experts to comment on each of the benchmarked topics.
Executive Summary of the 2017 State of Program Business Study will be made available at the presentation.
INDUSTRY SPEAKER: Steven DeCarlo, CEO, AmWINS Group, Inc.
M. Steven DeCarlo has served as chief executive officer of AmWINS Group, Inc. and a member of the AmWINS board of directors since December 2000. DeCarlo began his career with Crum & Forster and later joined The London Agency (today part of Chubb) as its chief financial officer. DeCarlo was a founding partner of Royal Specialty Underwriting (RSUI), serving as executive vice president and chief financial officer and later becoming senior vice president of Royal & SunAlliance USA. In 2009, DeCarlo received Ernst & Young LLC's prestigious Entrepreneur of the Year® award in the Carolinas for the financial services category.
Lloyd's Open House
Lloyd's Open House is scheduled to follow the General Session.
- Representatives from 12 Lloyd’s Syndicates
- Market finding assistance for all types of programs including small and start up programs
- Information about the London Marketplace and becoming a coverholder
Representatives from Lloyd's America and TYSERS will be present to support your inquiries.
New Program Development - Market Interest and Expectations
Richard Hodge, Tysers
Dawnmarie Black, BMS Re US
Ken Robinette, Bellingham Underwriters
Whether you are an existing program manager looking to add new programs to your product suite, or a specialty wholesaler/retail agent looking to create a new program, this workshop will be useful to you.
This workshop will address the following:
- Business classes and niches of greatest interest to markets
- Minimum first year premium requirements
- Data collection and system expectations
- MGA/Carrier contract basics
- Marketing and distribution plans
Panel will feature experts that can address the US market and Lloyd's of London.
8:00 AM GENERAL SESSION
InsurTech Dilemma: The Accelerating Change of the Insurance Landscape
Moderator: Alex Tsetsenekos, Archimedes Analytics LLC
Ty Sagalow – Former Chief Insurance Officer of Lemonade
Tim McDermott – Munich Re Digital Partners
Richard McCathron – Head of Insurance, Hippo Insurance
Seth Simon – Head of Claims, Slice Insurance
With the changing landscape of the insurance industry fueled by new technology, additional capital and the reimaged approaches to the customer, what are the near-term and long-term impacts to Program Administrators. Our panelists will provide insights into the evolution of the customer experience, life cycle management, claims administration and the technology impact of the value proposition for customers and distributors.
Key Discussion Topics:
- Where is InsurTech actively changing the insurance Value Chain?
- What opportunities does this create for the Programs space?
- What risks does InsurTech create for the Programs space?
- What are key InsurTech impacts to distribution?
- What does the next 3-5 years look like?
PA Contracts: It's only your financial future at stake!
Greg Thompson, Markel
Sean Coleman, AIG
John Colis, Euclid Program Managers
As the insurance industry changes with new capacity and technology, and as PA valuations soar, the risks and rewards contained in contract language have risen for both Program Administrators and Carriers. This workshop will explore the critical elements of these contracts from both the PA and Carrier perspectives, and factor in a few new elements that both parties should consider.
Attendees should expect to gain valuable insight regarding the key elements of these contracts, the legal basis of the carrier/agency relationship and other important aspects to consider during the contract negotiation process.
Ownership of Records and Expirations • Exclusivity • Ownership of Claims Data • Negotiating Terms: Commission, Payment, Fees, etc. • Termination • Suspension • Segregated Funds • Carrier vs. PA systems • Financial Guarantees to Carrier • Audits • Run-Off-Provisions
Administrators and Carriers are encouraged to bring their questions and experiences to share and discuss.
Grow your program and bottom line with Fac placement
Dawnmarie Black, BMS Re US
John Willemsen, Arch Re
Dan Shea, Arch Re
Laura Hunt, Everest Re
Does your program allow for limits outside of your authority? Does your program manager need access to limits you can’t offer? In this session you will understand the fundamentals of placing facultative reinsurance from both a property and casualty perspective. Viewpoints from the brokerage and carrier communities will be expressed in this informative session.
You will learn how to use facultative reinsurance to:
- Expand your limits in multiples
- Carve out uncomfortable exposures and learn about them in the process
- Write accounts outside of current guidelines\Expand your territory to states you are currently unable to offer Cat coverage
- Provide financial stability to your carrier and program
July 19, 2017 - NSM Insurance Group, a Conshohocken, Penn.-based program administrator of industry-specific insurance programs, has hired Jennifer Johnston as the Northeast regional underwriting manager for social services.
July 19, 2017 - Norman-Spencer Agency, Inc., a national property and casualty insurance provider, has added a new Professional Liability Division. The division was established to provide Norman-Spencer’s appointed agents with a resource for all professional liability risks.
July 14, 2017 - EverGuard Insurance Services Inc. has acquired Anchor Bay Insurance Managers’ restaurant, bar and tavern program.
July 11, 2017 - Property/casualty wholesaler, U.S. Risk Insurance Group LLC, has acquired Texas-based IMS London American Brokerage and Underwriting Services.
July 11, 2017 - The McGowan Companies (McGowan), a Fairview Park, Ohio-based company offering specialized insurance programs, has purchased the assets of Framingham, Mass.-based North American Professional Liability Insurance Agency LLC (NAPLIA), effective April 1, 2017.
New Jersey, July 11, 2017- Specialty Program Group (SPG), a leading insurance holding company for specialty underwriting facilities, announced today that it has acquired the assets of MarketScout’s workers compensation underwriting unit, to be re-branded by SPG as Specialty Comp Insurance Solutions. Terms of the acquisition were not disclosed.
17th Annual Summit
Captain Mark Kelly
Target Markets is celebrating 16 years focused on Program Administration. Create opportunities to grow and improve your business by attending the 17th Annual Summit. Expect access to 60 program carriers including London Markets, premier vendor services, reinsurance support, program development and distribution resources, and networking opportunities with 800+ program professionals. Discover the Power and Potential of your Program Business.
Become a TMPAA Best Practice Agency
A core element of the Association’s mission is to promote excellence in Program Administration. Visit the Best Practice page of the TMPAA website to watch a short video and learn how you can gain recognition as a best-in-class operation at the 17th Annual Summit.
Print and Digital Marketing Opportunity
Rough Notes is once again dedicating a special section within their September issue exclusively to Target Markets members. Your participation in the 2017 Target Markets Supplement includes:
Contact Rough Notes to reserve your space today.
The State of Program Business Study is Underway
The objective of this research is to provide the program industry with data that documents trends in the size and dynamics of the program business market, along with valuable benchmarking information to assist with your future program business planning. Results will be available to TMPAA members and presented at the Summit in October. Survey responses are strictly confidential and viewable only to Advisen acting as a contractor for the Association. Our goal is 100% member participation.
Program Administrator members of the Association will receive one FREE e-ad distribution to 100,000 retail agents about your program(s) following the completion of the study.
Please let us know if you did not receive your survey link of have questions about the study.
Contact Ray Scotto
TMPAA Charities Networking Golf Tournament
Sunday, October 15 at 1:00pm
Unlike other golf events, pairings in this tournament are made to maximize the networking opportunities between carriers, program administrators and vendors. The tournament is designed for golfers of all skill (or lack thereof) levels. Participants must also be registered to attend the Summit. Plan to arrive early and meet your next program partner!
Tournament sponsored by
Patra Corporation offers a variety of tools to reduce underwriter workload, increase capacity for growth and improve customer service. With standardized processing and improved efficiency, your teams will have more time to spend with your broker partners.
Patra facilitates broker satisfaction by increasing the productivity of underwriting teams, improving morale and reducing turnover. And, as always, with Patra you’ll enjoy:
Contact Patra to learn what many Target Markets Members have already learned: Smart, innovative firms choose Patra.
We will spotlight your company on request. Please contact Monica at email@example.com.
Tysers, working with the TMPAA, is proud to sponsor the 5th Annual “Targeting Talent Trophy” which looks to provide a selected individual, from a Program Administrator member of the Association, the opportunity to travel to London for a 10 day educational assignment during the spring of 2018.
The selected applicant will leave London with a comprehensive understanding of how Program Business is transacted in the London market, spending time with the Tysers’ broking team and various Lloyd’s syndicates. There will be a focus on all aspects of transacting Program Business in London from client introduction through placement to accounting and claims.
Click here for more information and application.
Assessing Cyber Coverage in Program Business
Recorded by A.M. Best at the TMPAA Mid-Year Meeting
Cybersecurity continues to dominate headlines with new breaches being discovered in a wide variety of businesses. Correctly identifying the cyber risks in a book of business and offering adequate coverage to mitigate potential losses has become a growing challenge for program administrators. The TMPAA Cyber Panel composed of three leading cyber markets, a cyber legal expert and a program administrator will address the overall state of cyber coverage, the market's appetite for providing this coverage, policy form differences, emerging cyber threats, and the following topics:
Listen to this presentation to educate yourself on this rapidly changing coverage and begin to identify the best solution to protect your insureds against their specific cyber exposures.
Scroll down to podcast dates of June 28, 29, 30.
Carrier Search Portal
The Carrier Search Portal (CSP) allows you to search for markets using specific program characteristics and quickly identify your most likely program partners. A market profile is available for every carrier member of Target Markets. Access the CSP here.
Additional market-finding resources:
Online Meeting Request with Carrier Partner [form to set up meetings at the Mid-Year]
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June 28, 2017 - Arch Insurance has announced the addition of three leaders to its travel sales team, as it seeks to further build the business unit’s distribution strategy.
June 27, 2017 - XL Catlin has entered into an exclusive underwriting agreement with The McGowan Companies to provide workplace violence insurance to U.S. businesses.