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https://completemarkets.com/Article/article-post/70/If-The-Niche-Fits-Designing-The-Niche-Program-Questionnaire/
...there's less pricing volatility in small premiums didn't change the underwriti...bout the number of new-car franchised auto dealers compared with the number of used-car auto dealers?
The next questions you sho...
https://completemarkets.com/company/CompleteMarkets/Articles/content-package/IMMS-Library/TabCategory/article-post/70/If-The-Niche-Fits-Designing-The-Niche-Program-Questionnaire/
... policy to estimate the total premium volume the program will generate. In the past, I've been unsuccessful in securing insurance company markets because the average premium size was too low or the potential premium volume wasn't high enough. Even the argument that there's less pricing volatility in small premiums didn't change the underwriting philosophy of some carriers. The attitude that small accounts are a waste of time will change as technology becomes more sophisticated. Do your homework Before you find a market, the first step is to assess the potential of a specialty program ... the class of business and target market? A. A narrowly defined target market is crucial to understanding the type of risk. Some underwriters also call this the class of business. A short description of your niche will suffice. For instance, say you're interested in writing artisan and specialty contractors, security guards, general contractors that do residential construction, dwelling policies, or drivers with four accidents in the last three years. Q. What lines of insurance will be offered and at what limits? A. The approach here would be ... state that you are interested in writing the Professional Liability for a home inspector or the General Liability for an artisan and specialty contractor. Retail producers should pay careful attention to the line of business and type of coverage required. Also of significance is the amount of the policy limits. Policy limits obviously will vary by class of business. It might be $1 million combined single limit for an independent trucker, or statutory limits for a Nonstandard Auto policy. Producers must do their homework to find out what the policy limits should be ...