They may not command the multibillion-dollar premium figures touted by competitors involved in the latest merger deals, but market clout is not necessarily synonymous with size, according to executives of several large independent wholesale brokers.
Executives of wholesale brokerage shops placing hundreds of millions in excess and surplus lines premiums that have not been involved in this year's wave of mergers and startups say they demonstrate their value to retail customers through deep expertise in specialty product lines such as directors and officers liability and property-catastrophe insurance.
In addition, Scott Smith, president of Hartford, Conn.-based S.H. Smith & Company, and David Pagoumian, president of Iselin, N.J.-based NAPCO, highlighted simple steps–like delivering comprehensive analyses of quote alternatives–as keys to differentiating their operations for retail customers.
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