The National Association of Professional Surplus Lines Offices Ltd. launched an education and awareness campaign to demonstrate the value that wholesale brokers bring to retail brokers and corporate risk managers when placing specialty insurance coverage.
The campaign was announced at the NAPSLO 2008 Annual Convention in San Diego this week.
“We want to demonstrate how wholesale brokers play a key role in the insurance value chain,” said Letha Heaton, a co-chair of NAPSLO’s communication and technology committee. “Wholesalers meet a specific need in the marketplace by finding the best specialty lines coverage and often innovative solutions for those risks that would otherwise not be protected.”
The outreach effort will illustrate ways in which wholesale brokers bring value to the insurance transaction by providing both the expertise and markets needed to place specialty risks.
A NAPSLO survey of agents and brokers earlier this year found that in addition to providing access to markets, wholesale brokers were most valued for their experience, expertise and knowledge.
“Our campaign is designed to build awareness of this value and assist our members in the increasingly competitive market we all face,” said Robert Sargent, co-chair of NAPSLO’s communications and technology committee.