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FOR IMMEDIATE RELEASE
OLDWICK - MAY 22, 2017 12:34 PM (EDT)
In this A.M.BestTV episode, attendees at the Target Markets Program Administrators Association’s 2017 Mid-Year Meeting in Washington, D.C., said the sector remains profitable and attractive, and opportunities are emerging as program managers shift carrier relationships. Click on http://www.ambest.com/v.asp?v=tmpaa517 to view the entire program.
“Today, the program business is growing faster than any other sector in the commercial insurance market,” said Jack Russell, senior vice president, Brokerage & Program Distribution, Allianz. “It is more profitable, and the retention rate is higher. This provides a good dynamic to engage customers, by delivering to them profitability and building a five- to 10-year relationship.”
Erica Davis, senior vice president, Zurich North America, addressed the cyber risk problem.
“The program business is particularly attractive to cyber space, which is under-penetrated. Organizations need to have options available to them. This is important, since the insurance industry must not create a one-size-fits-all approach to having an insurance solution to cyber risk,” she said.
Other people that appear in this episode:
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