Does your agency focus its efforts on a particular business class, product line, or other discernible market niche? 

If you answered yes to any of these questions, you should seriously consider the feasibility of establishing a program for your business. 

Some of the benefits of taking this course of action include:

  • Delegated Underwriting Authorities.  Your expertise within the particular market niche makes you uniquely qualified to evaluate the risk characteristics of incoming submissions.  Having the ability to underwrite, quote, and bind accounts allows your team to be more efficient and provide better service to your clients.

  • Provide the coverage your clients need.  Work with your underwriting carrier partner to craft a policy form that addresses the unique exposures of your target audience

  • Improve your compensation structure.  Program administrators typically receive higher commissions than traditional retail agents or brokers.  Many carriers will consider sharing back-end underwriting profits with you as well. 


Program administrators have become a hot commodity.


They are targets for acquisition by wholesalers, agency conglomerates, and even the insurance carriers themselves.


In an age of consolidation there are also some repercussions.  Smaller agencies trying to develop specialized niches find it increasingly difficult to be “heard.” 


Organic growth is what fueled significant expansion of program business in the early 2000’s.  Where does the entrepreneurial agency go today to address the insurance needs of an under-served market or make a significant impact on an existing niche?


The simple answer is that today’s forward-thinking specialist should look to the same innovative underwriting partner they looked to before the year 2000 – London. 


The market that is best equipped to take on a new program idea in the start-up phase is Lloyd’s.


Click here to access a Program Questionnaire.  Completing this form will allow us to determine how our team can best assist you in achieving your goals!


Glenn W. Clark is the owner of Rockwood Programs, an insurance agency based in Claymont, DE.  Rockwood serves as the administrator of several nationwide management liability programs, including Employment Practices Liability, Not-For-Profit Directors & Officers Liability, Insurance Agents Errors & Omissions, and Medical Malpractice.

Read Glenn’s full biography…