What Makes a Program Different?


Programs service specialized areas with customized products. But don’t confuse these products with those from general MGAs or standard carriers.


One of the things that differentiates programs from the general marketplace is the niche focus, either for an industry segment or product line. This requires expertise on the part of the program administrators that are responsible for the day to day management of a program.


Vincent Pugliese, Lexington Insurance Company


Insurance programs are generally built around niches. The most important elements are a need for the product, expertise in the segment or niche and the ability to penetrate the market.


Vincent Pugliese defi nes an insurance program as:


• • •


A package of insurance coverages; Tailored specifi cally to an industry group; and Typically multiline in nature; although, many are focused around a particular product line.


Geoffrey McKernan maintains that programs are more than one particular line of business. They are typically focused on a subgroup within a line of business, such as homebuilders within the larger construction sector.


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