Insurers Reveal Strategies On MGA Programs

Only managers of programs that are truly well-defined niches need apply to the E&S insurance market for capacity, according to representatives of a handful of companies that remain committed to MGA-driven program business.

If its a general book of business, we dont want it, carriers said over and over in recent interviews when asked to advise managing general agents on how to sell their programs at a time when many insurers and reinsurers have chosen to abandon the program business segment.

"Our number one business strategy is niche," said Bill Donnell, business leader for P&C Select division of GE ERC Commercial Insurance in Overland Park, Kan. Explaining what he meant by "niche customers groups and niche products," he said, "another way to understand that is, it's off Main Street. We're not insuring the bank, the baker, but the machine shop, the tow truck operation, the pest control operation that's off of Main Street."

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