From the April 18, 2011 issue of National Underwriter Property & Casualty • Subscribe!

MGA Profile: Bliss & Glennon’s Bob Abramson

Bob Abramson, a managing director at Bliss & Glennon, recalls that his first specialty-insurance program idea—a package of coverages for alarm installers—was the outgrowth of his prior job as a salesman for Security World magazine.

Moving to the insurance industry in 1984, he explored the package-program idea and found there wasn’t a lot of competition. “We went after the class vigorously,” he says, reporting that the program “had a good run,” with the endorsement of an alarm- installer’s association coming along the way.

“We managed to write $5 million at a very good loss ratio—about 50—[until] a competitor decided to take our program over at half the price in 1998. They failed miserably,” he says. “A 50 percent loss ratio at half the price makes 100 percent. It doesn’t take a genius to figure that out.”

Among its current specialty programs, Bliss & Glennon manages a program for transporters of mobile homes in Texas and a nationwide program for mall kiosks.

Does Abramson worry that the kiosk program might suffer the same fate as the alarm program? “The premiums are so low that it would be strange for a carrier say, ‘Oh yeah, I want to go out and write $39 policies,’” he says.

In spite of the low premium dollars collected for each individual risk, the program has the potential to deliver $2 million in overall volume to the current carrier, Diamond State, a unit of United America Indemnity, he said. “It peaked out at about $2 million before the economy went bad [and] probably will be back in the $2 million range again this year,” Abramson says.

Comments

Resource Center

View All »

Complimentary Case Study: Helping achieve your financial goals By:...

Find out how a Special Investigation Unit used TLOxp to save the company money and...

Do Your Clients Hold The Right CDL License?

Learn about the various classes of CDL Licenses and the industries that are impacted by...

Integrated Content & Communications: A Key Business Issue For Insurers

Insurers are renewing their focus on top line growth, and many are learning that growth...

High Risk Insurance Coverage in the E&S Market

Experts discuss market conditions, trends and projected growth in a rapidly changing niche.

Top E-Signature Security Requirements

This white paper covers the most important security features to look for when evaluating e-signatures...

EPLI Programs Crafted Just For Your Clients

Bring us your restaurant clients, associations and other groups and we’ll help you win more...

Is It Time To Step Up And Own An Agency?

Download this eBook for insight on how to determine if owning an agency is right...

Claims - The Good The Bad And The Ugly

Fraudulent claims cost the industry and the public thousands of dollars in losses. This article...

Leveraging BI for Improved Claims Performance and Results

If claims organizations do not avail themselves of the latest business intelligence (BI) tools, they...

Top 10 Legal Requirements for E-Signatures in Insurance

Want to make sure you’ve covered all your bases when adopting e-signatures? Learn how to...

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Advertisement. Closing in 15 seconds.