Specialty Programs
Capabilities
Program business is generally defined as insurance products targeted to a particular niche market or industry class, representing a book of similar (homogeneous) risks or accounts.
AF Specialty provides specialty programs to program administrators, managing general agents, association/industry trade groups, captives, reinsurance intermediaries and syndicates seeking a fronting facility to place well-managed, turnkey commercial property and casualty programs.
Spectrum of Risk
We don’t take a traditional approach; instead, we opt to view program opportunities across a spectrum of risk, which allows more flexibility for our partners to achieve their goals.
Fronting
Fronting is “renting” a product from an insurance company to another insurance entity, for a fee. The rented product can be insurance paper, operational services or a combination of both. AF Specialty specializes in renting our highly-rated insurance paper, as well as select backroom services targeted to a particular niche market or industry class, representing a book of similar (homogeneous) risks or accounts.
Our fronting product provides eligible partners with multiple entities of admitted and non-admitted fronting paper that is rated “A” (Excellent) and Financial Size Category XIV.
Risk Sharing
AF Specialty is distinguished from other fronting carriers by our ability to retain and share in a portion of the underwriting risk on select programs. We are comfortable establishing risk-sharing partnerships through a variety of platforms including captives, and participation in reinsurance carrier panels.
Fully Insured Programs
Given our strong capitalization, AF Specialty is capable of providing full capacity to proven profitable programs. In a fully insured program, AF Group (throughout our family of brands) assumes all the underwriting risk. As with all program opportunities, AF Specialty engages in a thorough review of program’s historical profitability and supporting data.
