In the current economic climate, insurers who look to program business to generate additional premium volume will be conducting more thorough due diligence examinations of potential programs before agreeing to take them on.
Program administrators should therefore be prepared, when marketing an established program, to provide a potential new insurance company partner with hard data, well-reasoned growth projections and adequate time for the insurer to consider the opportunity.
Underwriters looking for program business in this economy will be seriously scrutinizing the quality of the program presentation materials to ensure the program will meet their acceptable criteria before they consider extending limited underwriting authority.
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