Special Section sponsored by TMPAA

The New 5Star Specialty Programs
(formerly BISYS)

Key programs administered include: professional liability (D&O, E&O, EPLI), trucking, paratransit, general liability, towing and recovery, and more

On July 1, 2008, BISYS Specialty Programs, a leading MGA and program administrator, was transformed into 5Star Specialty Programs. The new name resulted after last year’s purchase of BISYS Group’s insurance and retirement divisions by private equity firm J.C. Flowers, LLC.

J.C. Flowers subsequently combined the BISYS entities with previously owned Crump Insurance Services to create a greatly expanded company: Crump Group, Inc. Crump is now the nation’s largest insurance wholesaler and is comprised of three operating divisions: retirement services (Ascensus), life insurance services, and commercial insurance services.

With $468 million in revenue and 3,000 employees, Crump is a leader in all the markets it serves. The commercial insurance division has two operating units: wholesale brokerage (including legacy Crump as well as Tri-City Brokerage operations), and specialty programs—formerly named BISYS Specialty Programs and now known as 5Star Specialty Programs, a division of Crump Insurance Services, Inc.

Although these changes are largely external, they provide the opportunity to re-emphasize the mission of the programs organization, and to clarify its values and its focus on customers. The 5Star name was chosen, in part, because of its legacy within the organization (the original name of its professional liability programs was Five Star Managers). But more importantly, 5Star was selected because of the company’s commitment to providing top-notch, “five star service” to clients. The five point star represents the division’s five key values: people, service, expertise, solutions, and market access.

“We’ve been around for years as a leader in specialty underwriting. Now with the combined resources of Crump, plus the longevity of our teams and our long-standing carrier relationships, we bring more to the table for our agents than ever before,” said David Tooley, president of 5Star Specialty Programs. “We firmly believe that retail agents build success on their ability to have the right resources and partners to provide risk management solutions for a diverse set of clients. But just as important as finding the right partner,” continues Tooley, “ is keeping partners with the strength to weather market cycles, industry conditions, and even carrier failure. While markets may come and go, strong relationships can allow an easier transition to a new carrier, new business segment, or even to changes in underwriting. Developing such relationships can provide an excellent standard of service through the years.”

Along with a new name and renewed client focus, 5Star Specialty Programs administers significantly more products and services than typically exist within a single MGA. Among the nationwide programs 5Star offers are:

• Trucking (short, intermediate and long haul, commodity goods)

• Public auto (charter, school, shuttle, limo, taxi)

• Paratransit (special needs, non-emergency ambulance)

• Waste (residential and commercial haulers, transfer stations, recyclers, septic, medical)

• Professional liability (D&O, E&O, EPLI)

• Towing and recovery

A leading workers compensation wholesaler, 5Star offers fixed cost and self insurance solutions, along with TPA services. Miscellaneous capabilities include monoline commercial auto, stand-alone GL, and a lumber industry program.

Beyond its impressive array of programs, within the past six months 5Star added four new A.M. Best “A-” rated carrier relationships, a new program for auto dealers, an admitted market for its non-trucking liability program, and expanded its waste program to include medical waste risks.

“This is an exciting time for 5Star Specialty Programs in terms of new carriers and classes. We’re constantly working to bring new services to our retail partners to give them more reasons to choose us,” Tooley said. “Making certain that agents know what we have to offer is a critical part of our success—and theirs.

“Target Markets has become an integral part of our communications strategy to keep agents informed of these new capabilities. We encourage existing clients, as well as agents who haven’t tried us, to check out our Outlet Center, which is continually updated with what’s new.”

Inquiries about our products and programs are welcomed at:
5Star Specialty Programs158 N. Harbor Blvd. • Melbourne, FL 32935