Through the natural flow of an insurance practice, many individual retail agents or small to mid-sized agencies have developed areas of concentration. They successfully write homogeneous types of business through specialized knowledge of certain industries, obtaining association endorsements, or through good old-fashioned prospecting. Many agents can cultivate an established niche into a program, creating more business opportunities and greater potential for growth and profitability.

The best programs result from understanding one’s local marketplace and how it relates to overall industry trends in coverage, pricing and claims experience. While there are many sound paths for an agency to elevating a niche book of business to official program status, common elements for a new program include:

o Proven loss history, ideally of at least 5 years o Expertise in the class of business o Established distribution system o Stability in past carrier relationships o Competitive market intelligence.

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