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Special Section Sponsored by Target Markets Program Administrators Association The Hartford Proud of its solid reputation built over nearly 200 years since fledgling underwriters began forming in central Connecticut to insure Connecticut River cargo shippers, The Hartford has continuously grown into one of America’s elite insurers. And in recent years, the past 25 to be precise, The Hartford’s program business history has become, in the words of Assistant Vice President, Program Business Development Richard Suter, “...far greater in size than most people realize. Altogether, between our specialty programs and alternative markets departments, we now handle 41 programs representing over $450 million in business.” In today’s competitive marketplace, The Hartford stresses its strong commitment to aggressively grow program business and explore new program opportunities. Because all programs are managed right in The Hartford’s home office, stability and consistency are key factors that assist agencies to expand their businesses. “These are prime elements that we can bring to a business relationship,” says Suter. “We look for long-term profitable partnerships similar to the relationships we have enjoyed with many program administrators for years. “One of the things that makes us unique here at The Hartford,” says Scott Stevens, assistant vice president program business, “is the fact that we have our alternative markets and our specialty programs operations within the same department under one leader, Deborah Bibbins, vice president. That allows us to generate an exceptionally strong program relationship with an administrator. When that program develops successfully, as it usually does, then later in time when the agent wants to share risk with The Hartford, we are in a position to do so easily and seamlessly. As you can understand, we’re very open to captive relationships that align the interests of the company and the front program administrator.” Rich Suter cites The Hartford’s membership in the Target Markets Program Administrators Association (TMPAA) for helping create the mutually beneficial business relationships to which he referred. He especially lauded the Association’s focus on Best Practices, its high standards, and the, “...intensity in which the TMPAA’s business sessions are conducted. Folks who come to Target Markets’ meetings clearly know programs. We welcome the professionalism that pervades the Association, and the opportunity to develop new relationships and strengthen old ones. And frankly, we find the meetings profitable. We always come home with a few new opportunities in the bag.” Transportation is a program area in which The Hartford has had success over the years. This expertise was broadened when the company recently initiated a taxicab program for Massachusetts. The Lighthouse Agency of South Boston is the administrator that sought The Hartford because of its transportation business success, its financial stability, broader services, and the opportunity for expanded business. As it continually seeks to expand its program business, The Hartford’s eye on successful partnerships zeroes in on agents with an entrepreneurial approach, good knowledge of the industry, and proven track record. In addition to its transportation programs—including school bus and limousine operators—The Hartford specializes in other “higher-hazard” businesses. “One of our successful programs is our Specialized Truck Equipment Program (STEP), which we’ve been writing for over a decade,” says Stevens. “It covers manufacturers who specialize in attaching truck bodies to the chassis in such vehicles as ambulances, fire trucks, trailers, dump bodies, and many other styles of trucks.” A sampling of other prominent programs in The Hartford’s arsenal includes: alarm contractors, arborists, business-oriented hotels, fine and casual dining, orthotic and prosthetic professionals, pool and spa contractors, railroad services, and water well drillers. Rich Suter summarizes The Hartford’s program advantages this way, “When you choose The Hartford as a program business partner you benefit from our superior brand, financial strength, stability, and top ratings. We typically write on admitted paper, we’re filed in all 50 states, and we have the ability to provide an all-lines solution. Program administrators can be confident they’ll experience a Hartford team approach through all disciplines from loss control, claims, actuary and underwriting. This really gives our partners a great competitive advantage in the marketplace.” → We welcome your inquiries at (860) 547-4470 or richard.suter@thehartford.com. |
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