Carrier
The insurer bears the insurance risk under the policy. Identify the legal insurer, not just a program brand.
Read about carriersInsurance market guide
Insurance Program Administrator.
An insurance program administrator manages a defined insurance product for a target class or distribution channel. It may have delegated underwriting authority, or it may administer a product subject to carrier approval. The program, paper, authority, distribution rules, and current capacity must be verified separately.
Transaction role
Follow the function, not the label.
The administrator coordinates product design, underwriting workflow, distribution, and administration for a defined book of business.
Confirm the responsibility
Ask who can quote, who can bind, who issues the policy and who handles service. Those responsibilities depend on the specific agreement and program, not just the company label.
Practical broker checklist
Evaluating a class-specific insurance program
- Confirm the exact program, eligible operations, territories and current insurer support.
- Ask which underwriting and administrative tasks the program performs and which remain with the insurer.
- Compare the program wording and service process with the account's actual needs, including exceptions and renewal handling.
An illustrative account
A program serves one segment of a trade but an applicant also performs a second activity. Describe the revenue split and confirm both operations are eligible instead of relying on the broad trade name.
This is a hypothetical preparation example, not an actual placement or a promise of coverage.
Compare the related managing general agent roleThe roles in one placement
Who does what?
MGA or MGU
A delegated underwriting business may evaluate and accept accounts within the insurer's agreed authority. The labels overlap; the agreement determines the scope.
Read about MGAsRead about MGUsWholesale broker
The intermediary helps the retail agent prepare and place the account with an underwriting market. A brokerage role alone does not confer underwriting authority.
Read about wholesale brokersEvidence
Signals worth verifying.
Authority signals
- Named program and target class
- Current carrier paper or capacity
- Defined distribution channel
- Documented underwriting, binding, and referral authority
Access questions
- What exact program is being offered?
- Who supplies current paper and capacity?
- Does the program accept submissions from Hedge's channel?
- Which functions are delegated and which require referral?
False confidence
What does not prove access.
- A past carrier announcement
- A program name without current capacity
- A public application form
- A relationship with the administrator for a different product
Primary reference: WSIA surplus lines distribution report
Next action
Discuss the account with Hedge.
Start with the operations, location, requested coverage and the facts making placement difficult. Check appetite or send the account through Hedge's secure submission process for review.