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Target Markets Program Administrators Association Vendors Vendors (Section intro) Target Markets Program Administrators Association (TMPAA) members benefit greatly from the participation of service vendors that have joined the organization. By the same token, service vendors have recognized the promise that the Association offers them. The relationship between program administrators and service vendors has become a symbiotic one. “The Target Markets Association is a very unique organization,” says Rick Linville, senior vice president of the Atlanta-based Custard Insurance Adjusters. “We see a good many MGAs and risk retention groups trying to get started in the program administration business, and the environment that Target Markets offers brings carriers and vendors together with program administrators to facilitate the process. There are other associations out there, very good ones, but they tend to be ‘old boys groups.’ Target Markets has opened up the playing field.” Custard Insurance Adjusters (CIA) is a third-party administrator and independent field adjusting loss facility. “Historically, CIA has managed program accounts to a greater extent than the typical TPA from insurance carriers,” says Linville. “We have a great deal of experience in this area. In the sense that we offer a personal touch, we’re like a mom and pop operation, but we’re lean and mean and we operate nationwide.” The New York City-based Mystic Capital brings sound merger, acquisition and sales consulting to the program administration world as well as valuation, strategic consulting and expert witness assistance, according to Kevin Donoghue, managing director. “Target Markets Association members are able to tap into our expertise to obtain the appropriate guidance in transactions of those natures. Mergers and acquisitions has been one of the hotter sectors in the insurance world over the past 18 months, with numerous MGA and wholesale transactions occurring. We also offer core valuation for perpetuation planning. We believe that the coming year will remain an active one in terms of mergers and acquisitions,” says Donoghue. Tom Turgeon, senior vice president of marketing and sales for VRC Insurance Systems in Westlake Village, California, says that his firm is one of the few vendors that can handle very specialized target risks. “We can rate them, quote them and issue policies,” he says. “One of our clients is the Marsh Affinity Group Services, which specializes in a wide variety of programs, including pest control and directors and officers liability for brokers. We have a ‘capture’ mechanism that allows us to capture any information to service specialized programs. We are also a specialty provider of pool administration—pools for doctors, nurses or any other affinity group. The more abstract the program, the more our system shines,” he says. The following pages offer more specifics about the vendor services that are available to program administrators. * |
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