Items filtered by date: January 2017

 

February 2017

2017 Mid-Year Meeting 

 

May 15-17  •  Arlington, VA

Position yourself to grow and improve your business by attending the 2017 Mid-Year Meeting, providing access to 60+ program carriers, vendor services, the London Markets, reinsurance support, program development and distribution resources and networking opportunities with more than 700 program professionals.

 

Keynote Speaker
Malcolm Gladwell

Sponsored by
York Programs & Wilson Elser


REGISTER TODAY


 

 Profiles in Programs

 
Jeremy Hitzig , CEO – Distinguished Programs

Member since 2003


"Distinguished Programs became an early member of Target Markets and has been a dedicated attendee at every Association meeting for more than a decade. In addition to the unparalleled access to insurance company decision-makers, we’ve benefited greatly from the peer-to-peer networking and educational opportunities the TMPAA provides. It is simply unrivaled in terms of delivering value to program administrators."

Learn more about the people that make up Target Markets.


 

 

Member News

Professional Program Insurance Brokerage Announces Promotions

Appulate Launches ProgramConnect™

Allied World Enhances Managed Care Cyber Liability Offering


Tokio Marine Kiln (TMK) Launches Unmanned Aerial Systems Insurance Online

Pennsylvania’s NSM Insurance Group Promotes Buler

Allstar Underwriters Becomes Exclusive Representative for Berkshire Hathaway GUARD Insurance Companies' NCRF Program in North Carolina

Allianz Global Corporate & Specialty Promotes Two New York Executives

Parker Joins Worldwide Facilities’ Financial Service Group

Everest Insurance Launches Auto Buffer Coverage for Large Motor Fleets

Charity First to Move Nonprofit Program to Nova Casualty Co, a Member of AIX Group

Beazley Partners With VALE to Offer Environmental Risk Protection to Small and Mid-Sized US Firms  


Read more stories and submit your news today!

 

Mid-Year Workshop Highlight 

 Leading
Multigenerational Teams in Organizations

presented by Coleman Ruiz,
Former Navy SEAL Commander

May 15  •  2:30pm

In a follow up to his TMPAA Summit leadership presentation, Coleman Ruiz, retired Navy SEAL Commander and Instructor, will explain his position that the leader, parent, coach, teacher, administrator and boss that fails to lead bravely and effectively is stealing from their team–stealing opportunity, stealing development, and stealing someone’s chance to improve.

Attendees can expect to leave this workshop with information about what your teams really need from you and how to develop great followers who take responsibility, challenge, participate in transformation and take action.

 See full description.

 

 


New Members

 

Program Administrator

Food Service Insurance Managers
Bridget Halvorson
Bridget.halvorson@fsim.us
916-462-6600
www.fsim.us

Prime Vintage Insurance Services
Fabian Burstyn
Fabian.burstyn@uspartners-ins.com
732-682-4327
www.primevintage.com





 

Oak Street Funding 

Where do you want to take your insurance business? Are you ready to expand via acquisitions, grow through hiring staff or program expansion, or prepare the path for the next owner? Regardless of your direction or strategy, Oak Street Funding has provided cash flow-based financing for insurance businesses since 2003, and now we have expanded to providing that same level of service and expertise to RIA firms and CPA practices.

Since 2003, we’ve successfully fulfilled the unique capital needs for thousands of businesses - from the development stages through divestiture - while providing extraordinary service to our borrowers.

For more information, please call 844-343-1330. 

We will spotlight your company on request. Please contact Monica at monica.elischer@targetmkts.com.


 

Target Programs Marketing Opportunity

If you work with retail agents, an Outlet Center on TargetPrograms.com provides an additional online space to brand your agency and highlight the programs you offer. Starting at $2,500/year, we can help you grow your business.

For those members solely interested in reaching a national or regional audience with custom e-ads, we offer several competitively priced packages to help expand your base of agents. Contact Sarah Ayars to get started today!

 

 

Resource Reminder: 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.

Here are some additional market-finding resources available to members:

Online Meeting Request with Carrier Partner [form to set up meetings at the Mid-Year]

Program Carrier Checklist [items to consider when choosing a market for your program]

Program Executive Summary [baseline information required to start the market-finding discussion]

Reinsurance Support [assistance with challenging program placements and alternative risk transfer]

London Markets [access to Lloyd’s focusing on startups, new business ideas, and unique opportunities]

 


 

New White Paper

 

Is your program looking for ways to save money? Look at your claims costs.
Article by Rick Ruiz – York Programs

We value the expertise in the TMPAA. Submit your program education article today!






A column by Target University Dean – Greg Thompson, Markel Specialty 

Best Practice #1: Actuarial

Program Administrators do not always appreciate the importance of understanding and possessing credible actuarial data. But the bottom line is that no reputable insurance company in today's world is going to provide paper for a program without a data set that provides confidence the carrier will obtain an acceptable Return on Equity.

But where do you start? Some may think that the periodic carrier loss run combined premium information is all you need. In reality, an actuary requires much more including a minimum 5 years of claims counts, triangles, rate increases, and paid and reserved case losses and ALAE (Allocated Loss Adjustment Expense) by line of coverage. At the very least the PA should have this information in a format that a carrier actuary can work with in the event that a program has to be moved quickly. It will save the PA and the carrier a lot of time and increases the likelihood that the deal will get done at attractive terms.

If a PA really wants to be proactive, they should hire an internal or external actuary to produce an annual actuarial report on their program(s). And if they really want to impress the carrier actuaries, hiring (at a premium) national firms like Milliman or Tillinghast helps. These firms are often viewed as more credible than local actuarial firms the Company actuaries do not know.

Just remember: Information is power!

Click here for more best practices.

Interested in the Target Market Best Practice Designation? Click here to learn more.