If you want to find a carrier to write your program insurance there are things you can do that will make it go more smoothly. Managing agents that are organized and use a straight forward method in submitting a request to form an insurance program will have a much easier time. Having these attributes will likely get a managing agent a quicker response from carriers when creating a new program.
In the past when a managing agent submitted a request for program insurance they did so to several different carriers, but did not let the carriers know that a group submission had been made. However, at least one managing agent tried submitting a program to four different carriers and let each know of the group submission. It required that due diligence be done in sixty days and then told each carrier how each would be evaluated. Surprisingly none of the carriers had a problem with this and a decision was reached within forty days.
When submitting to different carriers you want to consider many things. For each carrier you want to look at their financial strength and underwriting philosophy. You don’t want a carrier where there might be an overlap with any of their other programs. The carrier should be able to support program expansion.
And finally, as the managing agent you will want to see a copy of the contract before the deal is sealed. Being organized and thorough will expedite the process.