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Special Section Sponsored by Target Markets Program Administrators Association Hudson Insurance Group Hudson Insurance Group underwrites specialty insurance products in select segments of the property and casualty market through two strategic business units—Hudson Programs in New York City; and Hudson Healthcare in Napa, California, and Chicago, Illinois. Specializing in program business since 1996, Hudson has been writing insurance for 100 years. Hudson Programs focuses on specialty insurance products. Examples in the professional liability market include environmental consultants, architects & engineers, and technology E&O. Programs in other lines include non-trucking liability, monoline liquor liability, complex products liability risks, and railroad protective insurance. Hudson Programs is also now offering customized insurance packages to franchisees. “Our goal is to attract well-defined and well-managed business that exhibits underwriting profitability, strong control, and a solid information base,” says Chris Gallagher, executive vice president and chief underwriting officer at Hudson Programs. “We believe this is best achieved by very detailed knowledge of the exposures within a narrowly defined market segment.” Gallagher emphasizes that Hudson maintains a high degree of selectivity in the programs it supports. “When choosing the right partner, Hudson looks for a program administrator with a seasoned track record that demonstrates expertise in key areas of underwriting, administration and distribution. We currently have 27 relationships that fit this definition. We grant varying degrees of authority based upon mutually agreed-upon guidelines. The majority of our partners, however, are granted binding authority. All of our program administrators have a dedicated Hudson underwriter. Each of these underwriters is an industry veteran. All of them are highly experienced in their market segment—be it auto, general or professional liability, or property. The relationship is close and mutually supportive. “We also work hard to establish programs that fall into the category of exclusive marketing agreements. In these situations, we retain underwriting authority. But we provide our partner with a customized Hudson insurance product targeted at a specific industry segment. Our partner then has the distinct market advantage of approaching retailers or insureds with the exclusive access to that particular Hudson product.” Hudson Programs is focused on meeting the needs of its program administrators. Gallagher explains, “Our emphasis is on creating a knowledge advantage which, combined with solid execution, can sustain profitable underwriting. Execution includes rigorous ratemaking methodology, price monitoring, excellent claims control, and robust information systems. We believe we have built a strong team in all these areas. “We think we offer an excellent opportunity to partner with program administrators who have a proven expertise. Our security is excellent,” says Gallagher. Hudson is one of four divisions of Odyssey Re Holdings Corp. [NYSE: ORH], a leading worldwide underwriter of property and casualty insurance and reinsurance with over $2.6 billion in policyholders’ surplus. Hudson can write admitted business in 50 states, the District of Columbia and Puerto Rico, and has surplus lines capabilities in all states with the exception of New York. All Hudson companies are rated “A” XV (Excellent) by A.M. Best Company. ‘ For more information about Hudson Insurance Group, go to www.hudsoninsgroup.com or contact Chris Gallagher at (212) 978-2800. |
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