Astor Risk Consultants LLC (ARC) is:
- A resource for new or existing managing general agents and program administrators, looking for guidance in all areas of their business establishment and development.
- A resource for agents and brokers in the structuring of complex property placements.
- A resource to Insureds who are looking for a third-party assessment to review their insurance program.
ARC has a network of resources to provide assistance and guidance.
MGA/Program Administrators
ARC has experience, market contacts and expertise to assist MGA’s and program administrators in securing additional capacity to augment their current platform, provide entry into new lines of coverage, and/or to assist in launching initial (conceptual) ideas.
ARC has market relationships in the United States, Bermuda, and Europe, including Lloyds of London. Business relationships have been established with both direct insurance markets, and the treaty and facultative reinsurance capacity providers.
ARC can assist MGA’s and program administrators to expand their footprint, utilizing the broad and well-established relationships with retail agents and brokers, increasing distribution of their products and expanding the reach of the MGA/program.
Consultative services include:
- Market knowledge and accessibility to capacity which can augment an MGA platform.
- Best practices for an MGA, including licensing requirements.
- Assistance with policy forms and protocols for the MGA product.
- Introduction to actuarial services for data analysis.
- Access to outsource partners such as third-party administrators (TPA’s) for claims, underwriting experts, IT platforms, modeling/risk assessment software, inspection services, etc.
- Sales and marketing strategies.
- Assistance with client (agent/broker or insured) education and dissemination of product.
“Our specialty is large complex program placements and we have internal expertise in general liability and property, as well as resources for other lines of coverage. The team has worked closely with various MGA’s over the years to secure capacity for their platforms allowing us to develop a strong network of service providers in the MGA space. We have also partnered with retail brokers to assist in the structuring of large property placements that need to meet the insureds’ coverage and economic goals, while fitting with the insurance companies’ requirements.”
– Ben Beazley, President, Astor Risk Consultants, LLC
Agents and/or Insureds
Services Include:
~ Risk exposures to the business, to include geography and/or contingent exposures/threats
~ Assessment of risk tolerance and economic impacts including: everyday physical damage, natural catastrophic events, contingent business income exposure, product liability exposure, cyber exposure, tenant caused events (both property and liability)
~ Vendor referrals for market access and risk assessment
~ Policy form review
~ The establishment of claims procedures and/or protocols to provide the best experience if/when the claim occurs