Allianz' Russell: Good Programs Are Usually in Answer to a Search
Jack Russell, head of business development, Allianz, said specialized insurance programs often start when brokers aggregate business that they have trouble buying on their own.
Allied World's Meek: Good Program Managers Have Host of Strengths
Grace Meek, senior vice president, Allied World, said good program managers should have a solid track record, specialization, passion and more.
Beazley's Eaton: Fraudulent Transfer, Ransomware Threaten Businesses
James Eaton, head of global private enterprise, Beazley, said the market for cyber liability coverage has quadrupled in the past five years, but the pool of uncovered risks is far larger.
Glatfelter's Campisi: Tech Advances Uncover New Program Opportunities
Tony Campisi, president and CEO, Glatfelter Insurance Group, said changes in health care and the impact of evolving technology are creating new risks that can be insured through program insurance specialists.
Great American's Miller: Speed, Flexibility Pay Off in Program Space
Leah Miller, senior account specialist, Great American Insurance Group, said getting to market quickly in the program space is crucial, then being willing to fine-tun coverage. quickly is crucial in the program space.
Great American's Suter: Many Small Businesses 'Window Shopping' for Cyber
Rich Suter, senior vice president, alternative markets, Great American Insurance Group, said many small businesses are aware of their cyber exposure but have not yet committed to coverage.
Ironshore's Willner: New Risks Include Drone Racing, Employment Issues
Marc Willner, executive vice president, Ironshore Programs, said new coverages continue to bubble up from MGAs that are quick to spot trends and market openings.
Munich Re's Brown: Programs Are Expensive, So Stay in Balance
David Brown, senior vice president, Munich Re, said brokers considering development of an insurance program should analyze the long-term outlook, including issues of frequency, severity and tail risks.
Program Insurers Say Specialization Begets Innovation
Attendees to the 16th Annual TMPAA Summit in Scottsdale, Arizona, said MGAs and brokers have an advantage in developing new products and programs from their close ties to insureds and agents.