Business appetite FAQs
Ideally, what is your target line of coverage?
Emphasis is on niche business, primarily casualty, specifically GL (auto niche, not heavy wheels-driven) and some professional lines. We do want to write more property (not Cat focused) and inland marine.
What capabilities do you require of your program administrators?
Niche underwriting expertise, rating and policy administration, and preferably the systems required to handle all customer facing functions except for claims.
What are your basic program requirements?
We are targeting rollover programs, generating at least $2 million annually, with at least 3 years of documented experience.
Are you willing to start a new program with no rollover book?
Start-ups are reserved for our existing program administrators with whom we have existing program business.
What is the best way to get started?
Call us first. Often, we can determine our underwriting appetite for an opportunity during a brief call. If we get to the next step, we usually request a brief executive outline and a summary of the experience to review. Then, if we believe this is an opportunity on which we can partner, we’ll execute an NDA and request detailed experience and a complete submission.
Any particular industry you are interested in?
We are most interested in industries which are not dominated by the standard market and preferably those with a half dozen or fewer competing markets.
What about captives?
We may entertain a captive program, subject to the following conditions:
- Insured captives only
- Must include real risk and genuine transfer
- Existing programs only with minimum premium of $10M
- Minimum of 7-years of documented experience
- Well capitalized, managed, and prepared to collateralize their risk
How committed is Markel Specialty to PAs and Program Business?
Many of the legacy businesses within Markel Specialty started out as PAs. Clearly, we understand PAs and the Program Business. Markel Specialty is committed to growing this business profitably with high quality PAs interested in a relationship with Markel Specialty.
What about underwriting expertise?
We are keen to partner with PAs who are already using analytics for a competitive edge. Are you creatively sourcing data to provide unique and actionable insight to your underwriting process? We are looking for differentiation.