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IBA’s “Five-Star Wholesale Brokers and MGAs” Annual Survey Named All Risks as a 2019 All-Star Wholesaler

Posted by admin on Apr 12, 2019 1:03:50 PM

All Risks, Ltd. was rated both a “5-Star” and an “All-Star” Wholesale Broker & MGA in Insurance Business America’s (IBA) “Five-Star Wholesale Brokers and MGAs” 2019 survey.  Retail producers were asked to rate the performance and service of their wholesale broker on a scale of 1 (poor) to 10 (excellent) in eight areas: 

IBA_FiveStarWholesaleBrokersMGAs20191. Underwriting responsiveness/turnaround time 
2. Technical expertise and product knowledge
3. Range of products
4. Compensation (commission, bonuses, profit-share, etc.)
5. Claims support
6. Marketing support
7. Technology/automation
8. Communication 


According to the article, “Producers were asked to provide feedback on how their partners could improve the producer/wholesale relationship. The wholesale brokers and MGAs that earned an average score of 8 or greater in at least one category were awarded a Five-Star designation, signifying their exceptional service in any one or more of the key categories. In total, 27 wholesale partners earned a Five-Star this year. Of those Five-Star companies, 13 were also designated as ‘All-Star’ wholesalers, having earned a Five-Star in all eight categories.”

WSIA President Joel Cavaness stated, “The ability to craft innovative solutions for complex risks is a hallmark of the wholesale, specialty and surplus lines insurance industry. Surplus lines professionals are experts in unique and hard-to-place risks, and they react quickly to market changes to accommodate non-standard needs of insureds.”

Responsiveness remains top-of-mind, as reported by IBA. “Underwriting responsiveness remains producers’ top priority when choosing a wholesale partner. Generally, producers were appreciative of their wholesalers’ prompt response to quote requests, with some even saying that the service they received was so superior, it would be difficult to improve.”

All Risks was recognized as both a “Five-Star” and an “All-Star” in the survey results. Service-focused underwriters and brokers support their retail agency partners through consistent and quick communications and continual professional development. Concentration on aggressive service levels at every interaction within the organization ensures high customer satisfaction at each stage of the account, from tailored proposals to policy management. All Risks is proud to display the IBA All-Star emblem.

IBA_FiveStarWholesaleBrokers_chart1


Author unknown. (Issue 7.03). Five-Star Wholesale Brokers and MGAs. Insurance Business America, Retrieved from https://www.insurancebusinessmag.com/us/special-reports/fivestar-wholesale-brokers-and-mgas-163156.aspx

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All Risks, Ltd. was formed as an excess and surplus lines facility in 1964. Employing over 875 professionals in 26 locations, we deliver comprehensive commercial and personal insurance solutions exclusively to retail agents and brokers. As brokers or underwriters, we are our agents’ licensed navigators in the specialty insurance market. All Risks provides a full-service platform of brokerage, contract binding and program capability.

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