IN MANY ways, life is pretty good if you're a program administrator–at least if you are an experienced administrator with proven programs. If you have an idea for a new program that's related to an existing one, you'll probably draw interest from any program insurer you approach. In fact, the insurers very well might contact you first.
On the other hand, if you're trying to get into program business, the going could be tough. Despite the softening market, insurers still are cautious and want to work primarily with underwriters who already have successful track records. Even established program administrators aren't finding it easy to sell insurers on a startup program that lies outside their current areas of expertise.
To get an idea of what life is like in today's market, we contacted several program administrators. They shared their thoughts about the opportunities they see, as well as the challenges and concerns they still face. Following are their comments.
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