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Carrier Partner Information Company Name: Maxum Specialty Insurance Group Target Markets Representative: Matt Dunaway CPCU ASLI ARe, Assistant Vice President E-Mail: firstname.lastname@example.org Website: www.mxmsig.com Phone: 678-597-4663 Company Overview: Maxum Indemnity Company (MIC) was founded in 2003 by a seasoned group of insurance industry executives. Our ownership provided the capital for surplus and purchased the shell (assets only) of Caliber One and renamed the company Maxum Indemnity Company. This provided IT infrastructure and reporting capabilities. Maxum Indemnity Company was established with three operating platforms: Casualty Brokerage, Binding/Programs, and Professional Liability. A fourth operating platform was added in the summer of 2004 with the purchase of Golden Isles Insurance Company. The company was then renamed as Maxum Casualty Insurance Company (MCIC). MCIC is our admitted carrier and is used to write transportation business, which is currently limited to trucking accounts. Upon establishment of MCIC, Maxum Specialty Insurance Group (MSIG) was created. MSIG consists of Maxum Indemnity Company and Maxum Casualty Insurance Company. Maxum Specialty Insurance Group is rated “A- VII”, with a “Stable” outlook by A.M. Best. Our rating was affirmed with a “Stable” outlook in 2009. Maxum Specialty Insurance Group has policyholder surplus of $63,710,401. Program Parameters: Please describe your company’s program strategy: Maxum seeks nationwide, regional, and single state program opportunities to be written through properly licensed Program Administrators or General Agents with program expertise. Program business is currently written on a non-admitted basis in 46 states using Maxum Indemnity Company paper. In addition, an aggressive effort is underway to position our admitted carrier for use in writing program business. Please describe your company’s program appetites (please include LOB’s and States): Generally Maxum Indemnity Company (non-admitted) writes business in all states except Alaska, Delaware, Maine, and New Hampshire. Maxum Casualty Insurance Company writes in 29 states on an admitted basis. In 2008 MCIC applied for admitted authority in 10 additional states. In 2009, MCIC will apply for admitted authority in the 11 remaining states, plus the District of Columbia. Coverages available: Commercial General Liability, Errors and Omissions, Liquor Liability, Property, Inland Marine, and various miscellaneous coverages, such as sexual and physical abuse. Programs your company will not consider: Nursing homes Aviation business Environmental Impairment Liability (pollution liability coverage) Professional Liability coverage for attorneys, physicians, hospitals, surgeons Minimum Annual Written Premium Considered: While Maxum is willing to consider programs of various sizes, preferred programs will be those producing, or reasonably expected to produce, at least $2,000,000 in direct written premium during the first 12 months. Maxum will consider start up programs as well as existing programs. Maximum Program Size - $20,000,000 Other Program Consideration/Submission Criteria: Preferred submissions are those that are in the format promulgated by Target Markets. Well organized and complete submissions in other formats are gladly accepted for review as well. Program Administrator Parameters: Technology Expectations of Program Administrators (rating, issuing, report capabilities etc.): Maxum utilizes a proprietary policy issuance system called Programs Online. This is an issuance system only, rather than a quote/bind/issue system Our PA’s use the rating/quoting/binding system of their preference Policy issuance is performed by our Program Administrators using Programs Online Our IT staff can work with your IT staff to build an interface between our system and your operating system to significantly reduce or eliminate duplicate data entry Data reports are furnished by Maxum and can be tailored to suit almost any need. Risk Sharing: There is no requirement that any of our PA’s participate in risk bearing. Claims: Maxum has a highly skilled and experienced claims staff that is dedicated to consistently handling claims in a proper manner. Claims handling authority is not extended to PA’s. Other: Support of Senior Management - Growth in the programs business has been identified by our management team as an area targeted for growth. That effort has support throughout the organization. Capacity – Maxum’s expected Capacity Ratios through year end 2008 are: 1.46 : 1 DWP to PHS, well within the 9 : 1 benchmark, and .71 : 1 NWP to PHS, well within the 3 : 1 benchmark. Maxum possesses sufficient surplus to support significant premium growth. Additional Lines of Coverage – Maxum will consider adding lines of business to the existing coverage offering if needed to support a program. Commitment – Maxum is committed to becoming a significant participant in the programs market. This commitment is not a short term play to gain market share. It is a logical extension of Maxum’s long term strategic plan. That plan calls for allocating designated resources to ensure the success of the initiative.
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