Your business isn’t generic. Neither are your risks.

Specialized businesses come with complex risks. Successfully addressing these risks, overcoming challenges and seizing opportunities demands the insight of professionals who have deep expertise across industries, products or programs.

Working with a generalist is always an option. But without the insight developed by working for years in a specific business and understanding its nuances, generalists often miss exposures that can have an adverse impact on your company.

The key is asking the right questions, informed by detailed knowledge about a particular business, to gain clarity on your goals. Specialty risk management is about understanding the unique risks, models and market relationships inherent to an industry, a product or a program. It requires creativity to look at complex risk differently and utilize all available capital market tools to achieve the best results. And it means having the ability to provide the tailored solutions that will get you where you need to go.

The true test of our specialty model involves tradeoffs. Our specialists have maximized their depth of understanding of a particular industry, product or program, rather than trying to be all things to all people. Through focused expertise we provide differentiated value to clients that reflects who you are and where you want to go.

The key elements of value for clients include:

  • Specialist focus: When we invest in a specialty, we invest in the activity systems that enable the delivery to our clients. Our entire model centers on the needs and requirements of the specialist industry, product or program client.
  • Experts: Our people are experts in their respective fields. They have specialized training, client experience and designations, and are recognized across the industry within their focus areas.
  • Technology leverage: We utilize all available technology to advance the needs and insights of our clients, pursuing a best in breed approach to enhance decision making and outcomes.
  • Capital market access: We look at risk transfer across all potential capital markets, including insurance, reinsurance and other market forms.
  • Proven and consistent service model: Our model for serving clients represents the nuanced and tailored approach to industry, product and program risks. Our methodology is a process that ensures we understand our clients’ needs and are in position to exceed their expectations.
  • Creative thinking: We embrace the opportunity to look at problems differently and solve them creatively, integrating experience and expertise obtained through serving, broking and supporting clients.

Q4 2022 Specialty Claims Journal and Trend Report

Get expert insight on the latest insurance market news in NFP's Q4 2022 Specialty Claims Journal and Trend Report.


Read More