NEW YORK, June 7, 2017 /PRNewswire/ -- QBE North
America, an operating division of global insurer QBE Insurance
Group Limited, and Arrowhead General Insurance Agency, Inc. today
announced that Arrowhead will become program administrator for QBE
North America's small commercial insurance portfolio, consisting of
property and casualty business accounts under $100,000 in premium.
Effective July 1, this agreement
sets the stage for profitable growth by creating an
industry-leading small commercial property and casualty program
that combines the strengths of both companies: QBE's underwriting
expertise, "A" rated capacity, strong global balance sheet and
highly rated claims service with Arrowhead's program management
expertise, customer-centric technology and strong agent network. As
a result of this alliance, agents will have access to a broader
array of products and services through an easy-to-use operating
platform for the small commercial market.
"QBE is fully committed to the small commercial business and the
agents and brokers who have helped us build it," says Kathleen Zortman, President, Property &
Casualty, QBE North America. "As we evaluated how to take the
business to the next level, we realized that tapping Arrowhead's
expertise and technology platform offered the quickest and most
effective way we could provide our distribution partners with the
greatest ease of doing business as well as innovative product
improvements that deliver on our promise as an integrated
specialist insurer. The initial feedback we have been getting from
agents has been very positive."
"This partnership is built on a successful 20-plus-year
relationship we've had with QBE as their program administrator in
other business segments," says Chris
Walker, CEO of Arrowhead. "QBE's Small Commercial business
will be the centerpiece of our offering, complementing our other
products in the small commercial space. In fact, given its central
role, we'll be calling it Arrowhead Core Commercial. We'll be able
to give agents a very well-rounded product offering in one place
with the strength and unwavering commitment of QBE."
As the insurance provider, QBE will retain full financial
responsibility for premiums and losses and manage the products and
appetite for risk. As program administrator, Arrowhead will perform
all underwriting and servicing responsibilities on behalf of QBE,
with the exception of claims management, which will remain with
QBE.
To ensure consistency in underwriting approach and relationships
with existing QBE agents, QBE underwriters and operations
professionals assigned to commercial accounts under $100,000 in premium will become part of the
Arrowhead team. Walter Grote,
currently Senior Vice President, Small Commercial, QBE North
America will join Arrowhead to lead Arrowhead Core Commercial,
which will be headquartered in Sun
Prairie, WI.
Within the next year the QBE Small Commercial products will be
transitioned to the Arrowhead policy platform on a state-by-state
basis to facilitate an easier and more efficient underwriting
experience for agents and their clients. It also will make product
improvements easier to execute to meet the evolving needs of the
small commercial marketplace. The plan is to complete the rollout
to all states by the end of 2018.
"The launch of Arrowhead Core Commercial is a natural fit for
Arrowhead, which already features more than 20 products in
personal, commercial, specialty, professional liability and public
entity spaces," said Mr. Walker. "We're excited about bringing the
Small Commercial team from QBE onboard. Walter and his team of
highly professional, talented people will enhance the strength of
our national footprint and our leadership position in National
Programs."
For QBE, this arrangement illustrates the importance QBE places
on creating a powerful combination for policyholders who benefit
from deep underwriting expertise, exceptional local service, and
sound risk management advice.
About Arrowhead
Arrowhead General Insurance Agency, Inc., headquartered in
San Diego, is a national insurance
program manager for commercial and personal products and is one of
the largest in the U.S. with $1.3
billion written premium in 2016. Arrowhead's relationships
with over 20 top-ranked insurance carriers provide stability for
its nationwide network of agents. Arrowhead is a subsidiary of
Brown & Brown, Inc. (NYSE: BRO), which is ranked by Business
Insurance magazine as the sixth largest global independent
insurance intermediary. For more information, please visit
www.ArrowheadGrp.com and www.BBinsurance.com.
About QBE
QBE North America is part of QBE Insurance Group Limited, one of
the largest insurers and reinsurers worldwide. QBE NA reported
Gross Written Premiums in 2016 of $4.6
billion. QBE Insurance Group's 2016 results can be found at
www.qbena.com. Headquartered in Sydney,
Australia, QBE operates out of 37 countries around the
globe, with a presence in every key insurance market. The
North America division,
headquartered in New York,
conducts business through its property and casualty insurance
subsidiaries. QBE insurance companies are rated "A" (Excellent) by
A.M. Best and "A+" by Standard & Poor's. Additional information
can be found at www.qbena.com, or follow QBE North America on
Twitter.
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SOURCE QBE