Special Section sponsored by

PROGRAM ADMINISTRATOR

Five Star Specialty Programs is
One Year Old—Going on 25

It has been an eventful year for one of the country’s leading managing general agents (MGA), Five Star Specialty Programs. Its yearling status defies its long history in the MGA business, as it was built from a number of long-standing program administrators most recently known as BISYS Specialty Programs. Rarely does an MGA offer the number of programs, depth of carriers and extensive expertise Five Star provides. As a division of Crump Insurance Services and part of Crump Group, Inc., the company is backed by the resources and industry clout of the nation’s largest insurance wholesaler. Five Star has 14 programs offered through 11 locations across the country and nearly 200 employees.

The year brought tough market conditions and financial downgrades of one of its key markets giving Five Star the opportunity to demonstrate its greatest strength—the ability to attract new carrier partners. Led by essentially the same seasoned management team and underwriting staff for nearly 25 years, Five Star is an attractive ally for carriers developing new programs and entering new industry segments made more attractive by favorable rates. Five Star’s scalable operating platform and national presence provide the ability to quickly bring new capabilities to the marketplace. This ease of doing business has made the process a smooth one over the year as Five Star secured new markets for its long-standing programs and even added several new ones. All of its carriers are A.M. Best “A” rated or better and most programs are available nationwide.

Historically, the MGA has been known for its strength in the transportation industry and continues to have significant presence in this space while expanding into several new business segments with its latest additions. New programs include DEALERsure™ for auto dealers, and PARKsure™ for valet and self-parking operations. A newly formed professional liability practice, PROtect™, includes D&O (nonprofit, private company), E&O and EPLI for virtually any class.

Five Star continues to be a leader in its core programs and offers multiple carrier options for several of them:

• 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

Beyond its multiline capabilities, Five Star has a monoline commercial auto facility offered through a brand new carrier, and is a leading workers compensation solution provider. It offers fixed cost and self-insurance options, and has access to numerous carriers so that retailers can receive multiple quotes from one source. Five Star Workers Compensation Services can handle large deductible accounts and even high hazard classes. Ancillary products include occupational accident, participant accident, and surety bonds along with third-party administrator (TPA) services for the state of Missouri.

Along with unsurpassed underwriting expertise, Five Star offers risk management services for its accounts. Aimed at driving down costs and improving operational effectiveness, Five Star Risk Management Services offers consulting services to help insureds develop safety and loss control programs. Reducing risk makes good business sense and can result in lower insurance premiums and out of pocket costs—this is just one more way that Five Star is an excellent partner for agents and their clients.

“We are proud of our accomplishments over the past year and have many more products in negotiation with carriers. The benefit of working with an MGA is that our retail partners have the continuity of the same underwriting support that continues as carrier relationships change and evolve. This stability eases market transitions and also gives our clients immediate access to new capabilities we add. Target Markets is a great partner in helping to get the word out regarding our new and existing products through their Monday Morning Markets blasts and ongoing features of what we do. And, the annual summit has provided some invaluable introductions resulting in new carrier relationships for us,” said David Tooley, president of Five Star Specialty Programs.

Inquiries about our products and programs are welcomed at:

5Star Specialty Programs
158 N. Harbor Blvd. • Melbourne, FL 32935
Phone: (877) 247-9772 • E-mail: marketing@5StarSP.com
Web site: www.5StarSP.com