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Target Markets Program Administrators Association Carriers Fireman's Fund® Specialty Insurance When seeking to choose the right partner, program administrators are continually challenged to sort through all options to find a provider with the experience, flexibility and deep product expertise that meets their current and long-term needs. It can be an overwhelming process. Jack Russell, executive director of specialty programs for Fireman’s Fund, recommends that program administrators ask themselves one key question: “Is this carrier really listening to my story? Fireman’s Fund Specialty listens to the needs of each program, then customizes a product solution based on those specific needs.” Fireman’s Fund has been widely recognized for nearly 50 years as an industry leader in the development of innovative products and programs for affinity groups, Russell says. Today, Fireman’s Fund has over 100 programs and $500 million in affinity sales in its Specialty Insurance and Commercial Business segments. Continuing to offer state-of-the-art models for the affinity channel, Russell says, Fireman’s Fund Specialty Insurance embarked on a new venture two years ago. Known as Specialty Programs, the unit provides specialty products to affinity groups and to the program administrators that serve them. Russell, national leader of the new Specialty Programs team, cites two primary goals of the unit: customize product solutions for affinity group members, and create sales opportunities for producers and program administrators. The Specialty Insurance unit underwrites 35 affinity groups and $190 million in specialty product premium. The new Specialty Programs team has plans for 8 to 10 new programs annually. “We constantly work hard for affinity groups and their broker representatives to find effective, long-lasting solutions,” Russell says. “Our specialty programs range from single-product groups of less than $1 million in premium to multi-product programs of $20 million or more.” Specialty Programs’ national team of affinity experts develops and assembles programs that are delivered through local service contacts, Russell says. This model fosters speed, expertise and local touch. “Speed to market is the currency we deal in,” explains Russell “Traditionally, programs often have a gestation period of a year or more. With many parts of the Fireman’s Fund team working together, we normally deliver programs in about four months from conception to completion.” Fireman’s Fund Specialty has core product offerings in inland marine and related property, ocean marine, hull and P&I, nonadmitted general liability, admitted and nonadmitted excess, and admitted and nonadmitted professional liability. Programs and ideas under development include: - Musical instrument floaters for musicians, orchestras and music schools Proud of its affiliation with the Target Market Program Administrators Association, Russell says, Fireman’s Fund Specialty Insurance commits itself to the association’s goal of enhancing program business. “We commend the TMPAA for its dedicated leadership in bringing together underwriters, program administrators and vendors for mutual business success,” he says. * |
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