As a regular reader of this blog you no doubt have noticed our trend to start off the first edition of each new year with an article about how Big “I” Markets had a record year. We did in 2011, 2010 and 2009. Well, we did it again. Thanks to YOU, Big “I” Markets wrote $8,416,451 in new business which reflects a 24% growth over 2011 production! Binders were also up 14%, with a total of 2,159 new policies issued. The 4th quarter has been especially busy across all of our programs, with no indications of letting up. A sign of the market turning, or wishful thinking? Whatever the cause, we’re here to help.
Top 5 programs on Big “I” Markets for 2012:
Affluent Homeowner: $2,898,089
Travelers Commercial: $985,296*
Non-standard Homeowners: $873,207
*Includes community banks, real estate agents E&O & select accounts classes of mainstreet commercial.
The affluent homeowner program grew over 27% in premium, and $571,000 of that new business premium came to us through Broker of Record letters. There is a separate product on Big “I” Markets just to accommodate BOR request for the Affluent Program so keep us in mind if you are looking to become the servicing agent on an existing account. Each of our 4 carriers have different coverage strengths and competiveness, and availability varies by market segment. Watch for coming installments of TFT where we delve into each of these carriers in depth.
Habitational: With this market you can write apartment buildings, condominiums, and in some states, vacation rental property. Specialty niches include student housing, senior housing and affordable housing.
Travelers Commercial: With a combination of specialty niche and main street markets available, you can favorably position yourself with most clients. Markets include:
Real Estate E&O
Wrap+ Professional Liability
Non-standard Homeowners: This program hit nearly $875,000 in new business in just 10 months!
Bonds: Not an expert but have prospects? Let the underwriters at Goldleaf help you every step of the way. You have access to markets for just about every bond need you may run across.
Andrew McElhannon is the Member Services Coordinator for the Independent Insurance Agents of Georgia www.iiag.org, and can be contacted at: firstname.lastname@example.org or b y phone at 770-458-0093, x.110, or 800-878-6487.