Specialty program business can provide a noncorrelated source of profitable commercial premium for companies looking for top-line growth or to supplement their core books of business. If not done properly, however, it can be the source of unanticipated losses and unwanted surprises.
A comprehensive initial due diligence undertaken in advance of creating the delegated authority relationship, together with an ongoing professional audit and review process, will greatly improve the opportunities for success.
Recognizing that the process is considerably more involved than what can be described in a brief article, we outline some of the key aspects from a risk capital provider's perspective below.
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