Special Section sponsored by

CARRIERS

The Hartford

Program categories written include: transportation, specialized truck equipment, railroad services, craft breweries, pool/spa contractors, arborists and more

AsThe Hartford approaches its 200th anniversary in 2010, programs are taking a more prominent role in the company’s strategic vision. “Program opportunities have continued to increase despite rough market conditions,” states Richard Suter, assistant vice president, program business development at The Hartford’s Captive & Specialty Programs segment. “We are experiencing the cumulative rewards, from three and a half years of messaging, that The Hartford is a creative, flexible and committed program market. We can accommodate almost any program operating model,” Suter explains, “whether our partner performs the underwriting or wants to focus primarily on distribution. All services including claims, loss control and underwriting can be unbundled or performed by The Hartford.”

The Hartford added 10 new programs in 2008 and five in the first half of 2009. This brought its active program portfolio to a total of 53, which includes 25 risk-sharing programs. Scott Stevens, assistant vice president, specialty program business states, “One of the things that makes us unique here at The Hartford is the fact that we have captives and specialty programs 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 a 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 program administrator.”

Rich Suter cites the Target Markets Program Administrators Association (TMPAA) as “our most important association membership.” 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. Everyone who comes to the Target Markets meetings has a program focus, unlike other conferences where program specialists represent a fraction of the overall attendee list.”

In addition to transportation programs—including tow trucks, taxis, school buses and limousines—The Hartford also 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 that 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 at The Hartford includes: alarm contractors, arborists, craft breweries, equipment dealers, orthotic & prosthetic professionals, pool & spa contractors, railroad services, wall & ceiling contractors, and water well drillers. “Our administrator partners are the key to our success,” says Stevens. “Their industry expertise, focus on customer service, and commitment to profitability make for long, successful relationships.” Workers compensation has been one area of recent program growth. With multiple writing companies filed in each state, The Hartford has the right tools to enable a workers compensation program to attain critical mass. Recent workers compensation success stories include several heterogeneous agency captives as well as homogeneous specialty programs focused on specific classes such as security guards and YMCAs.

“We are constantly seeking to expand our appetite,” says Deborah Bibbins. “One focus for us over the next few years is to widen our surplus lines program writings. We currently have a surplus lines program involving general liability and professional liability for healthcare facilities, and we use nonadmitted paper from time to time on other programs. However, we believe that the current marketplace offers a unique opportunity for The Hartford to grow its nonadmitted casualty program business and we’ll be looking for the right opportunities to do just that over the next few years.”

When summarizing The Hartford’s program advantages Richard Suter says, “When you choose The Hartford as a program partner you benefit from our superior brand and broad product capabilities. We can utilize both admitted and nonadmitted paper, we’re filed in all 50 states, and we have the ability to provide an all-lines solution. This really gives our partners a great competitive advantage in the marketplace.”

The Hartford welcomes your program inquiries at 860-547-4470 or richard.suter@thehartford.com.