June 2014 (Best’s Review) – When Heidi Strommen learned in early February that her carrier was looking to be acquired, she started researching new carriers, just in case. Two weeks later, when her carrier’s financial strength changed, Strommen, the president of ProHost USA, had no choice but to move her program.

“Our target is high-end restaurants and best-of-class casual restaurants,” she said.  These aren’t small risks or accounts, and agents pay attention to the ratings, she said.

With some of her largest accounts renewing in April, Strommen had just six weeks to find a new carrier that would be acceptable to her clients. Despite the time crunch, Strommen was prepared to be picky. Though it may seem carriers are in the driver’s seat when selecting whether to accept a new program, program administrators need to be just as careful when assessing potential carriers, Strommen said.

To access the full article from the June 2014 edition of Best’s Review, click here.

Source: A.M. Best Company – used by permission