What is the vision of Markel Programs?
We seek to be a leader in consistently profitable and sustainable niche products managed by professional Program Administrators (PAs) with whom we have enjoyable and enduring relationships.
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 catastrophic focused) and inland marine.
What are your regulatory capabilities?
We have 50-state, A-rated capability for both admitted and non-admitted. This includes ISO rates and forms including 3-tiered rating. Non admitted allows greater speed to market.
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.
We may entertain a captive program, subject to the following conditions:
- Insured captives onl
- 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 to Program Administrators and Program Business?
Many of the legacy businesses within Markel started out as PAs. Clearly, Markel understand PAs and the Program Business. Markel is committed to growing this business profitably with high quality PAs interested in a relationship with Markel.
Call us to discuss specific program opportunities. We will promptly reply to any inquiry and make every effort to assist you.