A long-term client was required to move their program due to their primary carrier exiting the MGA distribution model. Unfortunately, this was not the first time the client had to move their program due to a carrier change in risk appetite, adverse carrier experience, distribution changes, or management preferences.
The $25MM GWP program was multi-line, with auto as the key line, in a challenging industry segment. We were able to find solutions for our client by introducing a risk participating fronting carrier, two supporting reinsurers, and a stand-alone WC market. As a result, the program is now supported by four markets, versus one, including two A+ XV carriers. The program finally has a depth of market support with each market providing capacity within their respective strike zones.