Meeting Publications (54)
Target Markets Day 1: Insurance Program Business Fueled by Innovation
Attendees at the Target Markets Mid-Year Meeting say specialized insurance programs are the launching ground for a host of new coverages and specialties.
Program Business Benefiting From Capital, Technology, Sector Knowledge
Carriers and MGAs at the Target Markets 2016 Mid-Year Meeting in Arlington, Va., predicted that results from program insurance business will continue to outperform the overall property/casualty sector.
Arch's Mark Lange: MGA, Program Sectors Ripe for Data-Driven Remake
Mark Lange, senior vice president, property/casualty programs, Arch Insurance Group, said rising interest from carriers and capital providers is fueling a surge in new programs and distribution opportunities.
Arch's Willemsen: Auto Results Hurting Some Programs
John Willemsen, managing director and head of insurance programs, Arch Re's Watford Specialty, said weak auto results are affecting underwriting results for insurance programs that depend on the line.
Berkley's Clarke: Accident & Health Has a Role to Play in Program Offerings
Susan Clarke, president, accident division, Berkley Accident & Health, said accident and health coverage can act as a buffer to a general liability policy.
BMS Capital's Braga: Capital Moving Closer to the Primary Risk
Rom Braga, CEO, BMS Capital Group, said investors and capital providers are focusing on MGAs and other sectors that have strong relationships with producers and end users.
Breckenridge's Masone: New Age of Data Means Measuring All The Way
Jino Masone, chief operating officer, Breckenridge Insurance Group, said even commercial insurance marketing efforts should be subject to data analysis, including whether efforts justify their investment.
B&B's O'Connell: Program Business is Finding New Paths to Risks
Jim O'Connell, principal and director, B&B Programs, said program business thrives when distributors connect with groups and associations, and is increasingly finding electronic channels to reach specialized audiences.
Glatfelter's Seifert: New Data Capabilities Raise the Bar for Programs
Art Seifert, president, Glatfelter Program Managers, said standards continue to rise for what it takes to demonstrate the likely success of a program, making it more competitive and difficult for new entrants to
Great American's Miller: Nonprofits Diversify, Expanding Their Risk Needs
Leah Miller, senior account specialist, specialty human services, Great American Insurance Group, said nonprofit organizations may have began with a single focus but that many have since branched in other directions, adding complexity to their coverage needs.
Great American's Starck: Smaller Accounts Show Interest in D&O
John Starck, divisional vice president, marketing, Great American Group, said smaller companies, nonprofits and privately held firms are showing interest in directors & officers liability coverage.
Great American's Suter: Producers Are Exploring Agency Owned Captives
Richard Suter, divisional senior vice president, marketing, Great American Insurance Group, said agents are forming captive insurance organizations into which they place program business. That creates opportunities for more profitable business and longer relationships, he said.
Insure Learn's Haws: Younger Insurance Recruits Respond to Gamification
Steve Haws, president, Insure Learn, said younger insurance workers show affinity for learning programs that emulate recreational gaming systems.
Live Oak's Drouillard: MGAs an Acquisition Target for Program Administrators
Kelly Drouillard, general manager, Live Oak Bank, said merger and acquisition activity remains strong in the $10 million to $20 million range.
Maritime's Pesce: Marine Risks Need More Technical Knowledge
Christopher Pesce, president Maritime Program Group, said the marine insurance sector is facing a shortage of technical know-how.
Munich Re's Assennata: Innovation is More than New Products
Steven Assennata, head of client group - insurance programs, Munich Re America, said expected innovation includes use of new safety technologies, data and underwriting automation.
Mystic Capital's Donoghue: Private Equity Interest Boosts Acquisition Prices
Kevin Donoghue, managing director, Mystic Capital, said the market for mergers and acquisitions remains brisk based on demand from private equity capital providers and strategic buyers.
SMA's Smallwood: Host of Outside Influences Shaping Program Sector
Deb Smallwood, founder, Strategy Meets Action, said insurance is becoming more exposed to non-industry forces, including surging capital, new technology and current trends.
Target Markets' Strommen: Better Economy Helps Restaurant Coverage
Heidi Strommen, president of ProHost and president of the advisory board for Target Markets, said the restaurant sector is one of several areas that is producing strong business for program administrators and related risk providers.
Target Markets Charities Partner With St. Joseph's, Walter Reed
Bill Kronenberg and Kathy McCarron discuss the fundraising and charitable strategies tied to the organization and conferences.
Tysers' Hodge: Lloyd's a Fit Home for Smaller Insurance Programs
Richard Hodge, director, Tysers, said Lloyd's and the London Market are open to considering startup and smaller specialty insurance programs that may not meet the requirements of some carriers.
2016ST_Meeting Videos Featured
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.
2017MY_Meeting Videos Featured
Allianz's Russell: Program Growth Outpacing Commercial Market
Jack Russell, head of broker distribution and program sales, Allianz North America, estimates that the program business sector is growing at about three times the rate of the broader commercial insurance sector.
Attorney: After a Cyber Breach, Keep Calm, Speak Only When Ready
Gregory Bautista, partner, Wilson Elser, said organizations that fall victim to a cyber breach can add to their troubles if they communicate too much too soon.
Brownyard Chairman: New Tools Help Fight Distracted Driving
Bryan Brownyard, chairman, Brownyard Group, said insurers are using a growing range of electronic and physical solutions to prevent distracted driving, but it remains a huge problem for insurers of commercial vehicles.
Glatfelter's Solari: Streamlining Questions Helps Grow Cyber Cover
John Solari, president, Glatfelter Underwriting Services, said a competitive review showed that some offerings were asking for more detail than might be necessary.
Great American's Suter: Programs Can Be Hurt by Carrier Issues
Richard Suter, senior vice president, Great American Insurance Group, said even successful insurance programs can fall victim to problems in other parts of the carrier's organization.
Insurers See Profitable — but Shifting — Program Sector
Attendees to Target Markets Program Administrators Association's 2017 Mid-Year Meeting in Washington said the sector remains profitable and attractive, but that opportunities are emerging within the sector as program managers shift carrier relationships.
Munich Re's Curcio: In Programs, It's Customers First, Automation Next
Jimmy Curcio, vice president, Munich Re America, said solid insurance programs begin with understanding needs and buying behaviors, then building processes to accommodate those.
Zurich's Davis: To Cut Your Cyber Exposure, Train Your People
Erica Davis, senior vice president, Zurich North America, said up to 80% of small businesses questioned believe human elements are a major part of cyber exposures, but only a fraction provide relevant employee training.