Surplus lines insurer executives are tackling the challenges of 2010 with a broad range of strategies, but whatever individual approaches they may adopt, all say their main focus is on strengthening wholesaler relationships.
In fact, adoption is actually one of the new approaches being instituted at Admiral Insurance Company, where underwriters are literally welcoming brokers to the insurance company family by personally adopting them, according to Jim Carey, president and chief executive officer of the Cherry Hill, N.J.-based insurer, who identified two broker-focused initiatives.
"'Adopt a broker' and 'shadow a broker' are designed to help us bring real focus–underwriter by underwriter–to the needs and requirements of our producers," Mr. Carey said. "'Adopt a broker' also allows Admiral underwriters to connect early in the career of new producers, providing literally a lifetime of returns as new talent comes into our producers' offices."
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