Wholesale Value

What is Wholesale Value?

The wholesale distribution system delivers tremendous value to retail insurance agents and insurance buyers. WSIA member wholesale brokers and underwriters are specialists in creating value and innovative solutions for the most unique and complex risk. They are technical experts who work in a very unique segment of the insurance industry and they offer retail agents access to stable market capacity in the nonadmitted market. Retail agents, and insurance buyers, can count on WSIA members to deliver cost-effective solutions for clients that are not “one size fits all,” but are instead skillfully tailored to meet specific needs for non-standard risks. That is the added value of the wholesale distribution system.

The Wholesale Value Message 

WSIA is committed to its members and to the wholesale distribution system. In honoring that commitment, WSIA messages the value of the wholesale distribution system to the retail marketplace by incorporating the the benefits of the wholesale distribution system in all communications efforts and consistently linking the key attributes of WSIA member wholesalers to the WSIA message. WSIA members are:
  • Innovators
  • Trustworthy
  • Specialists
  • Solutions-oriented
  • Technical experts
  • Capacity Providers
  • Responsive
  • Cost-effective and efficient distributors of E&S products
  • Relationship facilitators
WSIA supports the wholesale value message in a variety of ways and channels including:
  • Paid advertising placements in relevant industry publications;
  • Submitted editorial to trade publications; and
  • By leveraging social media tools including Twitter and LinkedIn.
These communications are crafted to help improve retail agents’ and insurance buyers' understanding of the value the wholesale distribution system adds to any complex insurance transaction and to create awareness in the industry about the value WSIA members deliver to an insurance transaction. WSIA's communications were recently enhanced to include 2016 research from Conning, Inc., which found that leveraging a wholesale specialist does not increase the cost of the transaction to the insured.

Wholesale Value Talking Points

As WSIA members, it is possible you could be contacted directly by reporters and editors seeking experts to comment on emerging trends or the recent Conning, Inc. report. These are great opportunities to promote the value that wholesalers offer to retail agents and insurance brokers and to reinforce that leveraging a wholesale partner to find the best and most cost-effective solution is the best way to serve the insured. While there has never been a price for seeking a wholesale quote, Conning’s analysis clearly indicates that there is no additional transaction cost in leveraging a wholesale specialist to find the right solution for the insured. 

WSIA members are encouraged to review and utilize the findings from the Conning report when responding to comments or questions related to the cost of wholesale vs. retail distribution. Click here to download a set of concise “talking points” to help you easily communicate the value of the wholesale distribution system to the industry.

Distribution Cost Study

A 2016 analysis by Conning, Inc.’s Insurance Research Division measured all non-loss costs relative to premium from 2010 to 2015 for individual insurance companies that predominately write commercial insurance. The study, commissioned by NAPSLO, defined and analyzed a Wholesale Composite, which included 83 individual companies with $19 billion in premium, and a Retail Composite, which included 266 companies with $60.6 billion in premium. When comparing the two composites, Conning found:

  • The total non-loss cost ratio for the wholesale composite was lower than the retail composite by 1.0%.
  • The retail composite’s non-loss cost ratios were lower than the wholesale composite in 2010 and 2011; however, wholesale ratios were lower for 2012 through 2015.
  • The wholesale composite’s commission ratio is consistently 3 to 4 points higher than the retail composite, but are offset by the wholesale composite’s non-commission cost ratios that average nearly 4 points lower than the retail composite.
  • Except for 2010, in each of the six years measured, the annual growth rate in direct premium written for insurers in the wholesale composite exceeded the annual growth rate in direct premium written for insurers in the retail composite.
  • Wholesale distribution does not increase the cost of the transaction to the insured. To view the report and accompanying FAQs, click here. 

The WSIA Logo

A logo is a visual representation of an organization’s brand promise. The WSIA logo has been developed to accurately reflect the organization's new name and commitment to its members. WSIA members are encouraged to incorporate the WSIA logo into their own communications. Downloadable files are below:

Any WSIA member who would like assistance with incorporating the logo into their marketing materials should contact Susan Henderson, WSIA Director of Marketing & Communications, at susan@wsia.org

WSIA & Wholesale Value in the News


May 24 - Insurance companies need to get on the tech bandwagon to remain viable - Insurance Business America
May 7 - E&S lines in 2018 - PropertyCasualty360.com
April 16 - Issues & Answers: Programs & Wholesale Business - Best's Review
February 28 - Pulse Check: The E&S Industry in 2018 - National Underwriter


December 11 - Risk Central: 2018 Underwriting & Leadership Summit - Risk & Insurance
November 17 - Future of Flood Summit highlights - Insurance Business America
November 1 - WSIA president on the new association's first three months - Insurance Business America
October 2017 - Specialty Coverage - Best's Review
September 22 - What makes a great insurance broker? - Insurance Business America 
September 14 - Here's How Surplus Lines Business is Doing - Insurance Journal
September 14 - How you do breach the gap between baby boomers and millenials in insurance? - Insurance Business America 
September 14 - New surplus lines group honors predecesors' leaders - Business Insurance
September 13 - Combined Organization off to Fast Start - A.M. Best TV
September 12 - WSIA Members Say Time Was Right for Convergence - A.M. Best TV
September 11 - WSIA Leaders: Flood Rules Hampered Coverage in Texas - A.M. Best TV
September 11 - Could Harvey and Irma harden the insurance market? - Business Insurance
September 11 - Surplus Lines Sector Grows, but Not All Competitors - A.M. Best TV
September 8 - Moving the needle: WSIA's legislative efforts continue - PropertyCasualty360.com
September 6 - Introducing the WSIA and its Annual Marketplace - Risk & Insurance 
September 4 - WSIA: Past, Present and Future - Insurance Journal
August 29 - Surplus Lines Growth Slows - Risk & Insurance
August 7 - New Wholesale & Specialty Association is Born - Insurance Journal

2017 NAPSLO Legacy News 

 July 27 - NAPSLO and AAMGA vote to merge and create WSIA - Commercial Risk
July 25 - Insurance associations agree to merger - Insurance Business America
July 25 - AAMGA, NAPSLO Complete Merger - Best's Insurance News & Analysis
July 25 - Vote official: NAPSLO, AAMGA will merge to become WSIA - PropertyCasualty360.com
July 25 - NAPSLO, AAMGA Members OK Merger - Insurance Journal
June 6 - NAPSLO, AAMGA members now voting on proposed merger - PropertyCasualty360.com
May 15 - Wholesale Associations NAPSLO, AAMGA Merging to Form WSIA - Insurance Journal
April 21 - Director explains benefits of WSIA merger - Insurance Business
April 19 - NAPSLO, AAMGA boards agree on merger - The Insurance Insider
March 8 - Merger of NAPSLO and AAMGA could be finalized by August - Business Insurance
March 8 - NAPSLO and AAMGA pick name for merged group - The Insurance Insider
March 8 - AAMGA, NAPSLO to merge - Insurance Business
March 8 - NAPSLO Members Ponder Details, New Name - Best's Insurance News & Analysis
March 8 - Wholesale Broker Groups NAPSLO, AAMGA Merging to Form WSIA - Insurance Journal
March 8 - Details revealed on NAPSLO, AAMGA proposed merger - PropertyCasualty360.com
February 1 - Great Career Choice - Best's Review
January 19 - Looking for alternative to National Flood Insurance Program? - The Advocate

2016 NAPSLO Legacy News

December 2 - Insurance Associations AAMGA, NAPSLO Move Forward with Merger Talks - Insurance Journal
December 2 - NAPSLO May Vote on Merger Next Year with AAMGA - Best's Insurance News & Analysis
December 2 - Timeline revealed for possible NAPSLO/AAMGA merger - PropertyCasualty360.com
November 7 - Report: Wholesale distribution channel is less expensive than retail - PropertyCasualty360.com
November 7 - Watermark: Flood Insurance Update - National Underwriter
October 31 - Members welcome merger talks between AAMGA, NAPSLO - Insurance Business America
October 21 – Joint Committee Exploring Possible AAMGA, NAPSLO Merger - Best's Insurance News & Analysis
October 21 - NAPSLO, AAMGA in consolidation talks - Business Insurance
October 20 – Will NAPSLO and AAMGA merge? - PropertyCasualty360.com
October 20 – Insurance Groups NAPSLO, AAMGA in Merger Talks- Insurance Journal
October 11 - What an Enhanced Private Flood Solution Would Mean for E&S - Insurance Journal
October 7 - Wholesale channel not more costly than retail; Conning - The Insurance Insider
October 6 - Former Texas Stamping Office Chair Receives NAPSLO Award - Insurance Journal
October 5 - Top 5 Challenges & Opportunities for E&S - Risk & Insurance
October 4 - Is the Insurance Industry Doing Enough to Attract New Talent - Insurance Journal
October 4 - E&S property merry-go-round spins at NAPSLO convention - The Insurance Insider
September 28 - 2016 NAPSLO Mid-Year Leadership Forum preview - PropertyCasualty360.com
September 28 - NAPSLO 2016 conference day 2 highlights - PropertyCasualty360.com
September 28 - RSUI's Leonard: When Risks Get Difficult, Wholesalers Show Value - A.M. BestTV
September 27 - Scenes from the first day at NAPSLO 2016 - PropertyCasualty360.com
September 27 - Youth must be served: NAPSLO's internship program evolves - PropertyCasualty360.com
September 27 - Surplus Lines Business on the Rise - Best's Insurance News & Analysis
September 27 - The Impact of the Changing Insurance Distribution Model - Insurance Journal
September 27 - Dave Leonard: Ready for what's next - PropertyCasualty360.com
September 27 - The exit interview: Q&A with Gil Hine - PropertyCasualty360.com
September 26 - NAPSLO's Kelley: Surplus Lines Business on the Rise - A.M. BestTV
September 26 - NAPSLO's push continues to get Flood Bill to finish line - PropertyCasualty360.com
September 26 - NAPSLO's Hine: Excess and Surplus is Always About Emerging Markets - A.M. BestTV
September 23 - Next Gen restructuring yields professional dividends - PropertyCasualty360.com
September 23 - Surplus lines in 2017: Where do we go from here? - PropertyCasualty360.com
September 12 - The NAPSLO Advantage - Best's Review
September 7 - Time to act on flood bill - PropertyCasualty360.com
September 1 - The generation game: Recruiting the new workforce - Insurance Business America
August 31 - Fuel for Innovation - Risk & Insurance
August 26 - Lobbyists push flood reform as Louisiana crisis continues - Insurance Insider
April 28 - House passes private Flood insurance bill - PropertyCasualty360.com 
April 27 -  House expected to pass private flood insurance reform - Insurance Business America 
April 18 -  Florida exiting clearinghouse for surplus lines premium - PropertyCasualty360.com 
April 15 - Florida Announces Exit from Surplus Lines Clearinghouse NIMA - Insurance Journal 
April 15 -  Florida's exit may be 'death blow' to surplus lines compact - Business Insurance 
March 28 - A flood of coverage cancellations - Insurance Business America 
March 23 - Emerging risks can drive E&S growth -  Insurance Insider 
March 21 - Industry, Consumer Groups Clash on Flood Insurance Bill - Bloomberg BNA
March 4 - Will House-passed Flood bill lead to privatization of coverage? - PropertyCasualty360.com 
February - Issues & Answers: Flood of Opportunity - Best's Review 
February - Hot 100 - Insurance Business America 
January 15 - Ross Makes Headway With Legislation to Lower Cost of Flood Insurance Policies - RealEstateRama.com 
January 15 - NAPSLO testifies before congressional committee on flood insurance parity - Insurance Business America 
January 14 - Regulators, NAPSLO at Odds With Consumer Group Over Bill... - Best's News Service 
January 14 - GOP Mulling Private Market for Flood Insurance - Morning Consult 
January 13 - Financial Services Committee Hearing Case for Flood Insurance Reform - Mortgage News Daily 

2015 NAPSLO Legacy News

November 1 - Scene and Heard: NAPSLO 2015 -  National Underwriter
September 23 - Surplus Lines See Pressure on Rates - Risk & Insurance 
September 21 - NAPSLO Q&A: Executive Director Brady KelleyProperty Casualty 360 
September 14 - NAPSLO Executive Director on 'strong' surplus lines market...WRIN.tv 
September 14 - NAPSLO 2015 closes with General Session and keynote - Property Casualty 360  September 12 - NAPSLO Convention Coverage - AM BestTV  September 11 - Final thoughts: NAPSLO's Hank Haldeman - Property Casualty 360  September 10 - NAPSLO Panel: Tech Disruption May Be Good for E&S Market - Insurance Journal 
September 10 - NAPSLO PAC celebrates 10th anniversary - Property Casualty 360 
September 10 - Surplus Lines Posts Record Breaking Year for 2014 - Carrier Management 
September 9 - NAPSLO general session preview - Property Casualty 360 
September 9 - Communicating the value of wholesale distribution - Property Casualty 360 
September 9 - In Focus: Career Awareness - Property Casualty 360 
September 9 - NAPSLO education update - Property Casualty 360 
September 8 - NAPSLO legislative update - Property Casualty 360 
September 7 - 10 Drivers of Surplus Lines Growth -  Insurance Journal 
September 7 - E&S insurers must respond if they are to avoid talent crisis - Insurance Day 
September 4 - Surplus Lines Posts Record-Breaking Year for 2014 -  Insurance Journal 
September 2 - Update: Surplus Lines Execs See Bright Prospects Amid Rising Competition - Best's Insurance News & Analysis 
August 31 - A Challenging Environment - Risk & Insurance 
August 26 - 10 years after Katrina: what an unstable NFIP means for flood insurance - Insurance Business America 
August 23 - Reinsurance reform act seeing mixed results - Business Insurance 
July 29 - Nonadmitted Insurance Multistate Agreement Looking to Boost Membership - Best's News Service 
June - Wading into flood insurance -  Insurance Business America 
June - Attracting the next generation -  Insurance Business America 
May 11 - Congress: Let E&S Underwrite Unique Flood Risks - Risk & Insurance  
May 1 - Issues & Answers: The NAPSLO Advantage - Best's Review 
March 1  - NARAB: What's in it for You? - Property Casualty 360
March 1 - Surplus Growth: E&S in 2015" - Insurance Business America 
March 1 - Issues & Answers: Opportunity Abounds - Best's Review 
February 20 - Solving the E&S market's two greatest challenges - Property Casualty 360 
January 27 - Brokers Cheer NARAB Passage - Risk & Insurance 
January - Industry Icon: Looking Forward - Insurance Business America 
January 7 - TRIA clears House; industry groups encourage last steps to long-term extension - Property Casualty 360 

2014 NAPSLO Legacy News

December 22 - Congress Must Act in 2015 - Risk & Insurance 
November 13 - Five minutes with…Hank Haldeman, NAPSLO - Insurance Business America 
November 11 - What's Hot in Surplus Lines - Insurance Journal 
November 11 - NAPSLO's Value Proposition - Insurance Journal 
October 28 - Surplus Lines in 2015 - Insurance Journal 
September 24 -E&S Going Strong -  Risk & Insurance 
September 18 - NAPSLO's Brady Kelley: More capital = more innovation in E&S lines - Property Casualty 360 
September 17 - New NAPSLO president Hank Haldeman weighs in on E&S' biggest challenges in exclusive Q&A - Property Casualty 360
September 17 - Scenes from NAPSLO 2014: Day Two - Property Casualty 360 
September 17 - Standardized technology would benefit excess and surplus lines: NAPSLO speaker - Business Insurance 
September 15 - Scenes from NAPSLO 2014: Day One - Property Casualty 360
September 11 - NAPSLO: Why NRRA is critical for the E&S market - Property Casualty 360 
September - Issues & Answers: Specialty Lines - Best's Review 
September 2 - Challenges & Opportunities - Risk & Insurance
August 29 - Is the goal finally in sight for NARAB? - National Underwriter
August 15 - States Still Grappling with Surplus Lines Tax Sharing -  Insurance Journal
July 6 - Q&A: Brady R. Kelley, National Association of Professional Surplus Lines Offices Ltd. - Business Insurance
May 13 - Surplus lines pact gains 2 states, but no boost to tax sharing - SNL Financial
May 1 - Meeting Customer Needs - Best's Review
April 25 - Innovation in the Surplus Lines Market - Lloyds.com
March 16 - High capacity drives continued soft market in excess and surplus lines - Business Insurance
March 10 - NAPSLO attendees learn about predictive analytics as tool - Business Insurance
March - Agent/Broker Success - Best's Review 
February - Don’t Let Your Clients Outgrow You - The Bridge
January 2014 - Hot 100 Insurance Professionals of 2013 - Insurance Business America (page 20) 
January 2014 - Surplus Lines Maintain Steady Rise in Market Share - Insurance Business America (page 46)

2013 NAPSLO Legacy News

October 2 -  NAPSLO Evolving With Its Members - NAPSLO Convention Daily 
October 1 - Innovation and Value - A.M. Best Surplus Lines Showcase
October - 
NAPSLO Update - The Specialist, the Institutes ESSL Newsletter
September 23 - Surplus Lines Overview - Business Insurance

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