The US program sector – A growth story

Welcome to another must-see edition of Prospective, which this month focuses on the US program insurance sector – a subsegment of the US property casualty insurance market that has undergone a transformation over the last decade.

As the home of business written by MGAs, MGUs and program administrators, the sector has gone from an esoteric and sometimes maligned “problem child” of the P&C industry to become one of its fastest growing and most vibrant areas.

This maturation has seen a real professionalisation of the business. And it has become a go-to venue for innovation, and been one of the focuses of the insurtech explosion.

Previously, headlines associated with the program sector were often about poor underwriting performance and carrier retrenchment.

But the space is now the subject of surging investor interest and start-up activity, as well as strong appetite from insurers and reinsurers looking to deploy capacity.

In turn, that has fuelled the emergence of the hybrid program fronting model, with a wave of new entrants, as well as a convergence of MGAs with carrier balance sheets in another form of the hybrid model.

During the 40-minute programme, we dive into these key areas:

You will hear from Trisura Insurance Company’s Michael Beasley, Corvus Insurance’s Philip Edmundson and Mike Karbassi, Michael Jameson of GC Access, Amwins’ Bob Petrilli, and Patrick J Rastiello of Accredited Specialty Insurance Company.

Look out for follow-up commentary and in-depth analysis of episode segments this week on theinsurer.com/tv…