Ep. 59: Surplus Lines and Reinsurance Forum
Dan Maher is the Executive Director at Excess Line Association of New York (ELANY). ELANY is a nonprofit industry advisory association that acts as a facilitator between regulators and brokers, conducts financial oversight and reviews of non-admitted markets, and lobbies Regulators & Legislators among other functions. Dan is also an attorney who is licensed to practice in New Jersey and New York as well as a number of federal courts.
In this episode, Dan shares his brilliant insights with regards to the state of the surplus lines market in 2017 and 2018. He explains why the surplus lines industry grew a lot in 2017 as well as describes the factors that are attributed to its growth. He also shares his best advice for those coming in the insurance industry for the first time.
“One of the greatest things about our business is the relationships you build in the industry.” – Dan Maher
What you'll learn:
- Dan Maher's overview of the state of the surplus lines market in New York in 2017.
- The single largest factor that contributed to the growth of surplus lines.
- How he got started in the insurance industry.
- The legislations he influenced in the surplus lines industry.
- Bills and amendments they're working on right now.
- The importance of having a large export list.
- How they involve different technologies in their line of work.
- What he expects in the near future for surplus lines.
- Retail brokers don't go to the wholesaler because they love splitting their commission.
- You don't have to be Einstein to do well in the insurance industry, but you have to have the right work ethic.
This episode was brought to you by
Insurance Licensing Services of America (ILSA), America’s premier regulatory compliance experts. To learn more visit ILSAinc.com.