In its 49th year of business, Meadowbrook generates and manages over $550 million in premiums, has 18 full-service regional branch offices and employs nearly 700 people.

Meadowbrook focuses on small to mid-sized commercial property/casualty programs. "We seek niche books of specialty business from associations, specialty agents and program administrators," explains Archie McIntyre, senior vice president of Meadowbrook's business development unit. "We primarily write workers compensation, commercial package and professional liability programs."

In recent years, Meadowbrook Insurance Group has strengthened its capacity to underwrite new but seasoned program opportunities. In 2002 the organization completed a secondary public offering, raising over $66 million in new equity. Meadowbrook then raised an additional $10 million in 2003 and $25 million in 2004, through participation in pooled securities transactions. The company has strengthened surplus and significantly reduced debt, with a debt-to-equity ratio well below 20%.

Meadowbrook's back-room operations provide full third-party administrative services for other unaffiliated carriers, select programs, public entities and self-insured groups. "Additionally, we work in partnership with other unaffiliated carriers to distribute their insurance products through our regional networks of independent agents," McIntyre says.

Meadowbrook executives emphasize that the alternative approach offers a degree of control not possible in the traditional market: coverage availability, price stability, focused loss control efforts, direct access to reinsurers, and participation in underwriting profits and investment income.

"We model for our producers the risk/reward benefits when considering formation of a risk-sharing partnership with Meadowbrook," McIntyre explains. "Agents receive compensation not only through commissions but also by sharing in the underwriting results. This provides a financial incentive to ensure profitable program business by selecting the best risks. By working with us, groups and associations can also gain further control of their businesses and participate in the favorable results of their risk management efforts."

"Specialty programs that utilize alternative risk mechanisms such as risk-sharing continue to grow in importance," Cubbin declares. "Quite simply, it's a better way of selecting, producing, underwriting and controlling losses on business ... and it is clearly a more efficient and profitable way to administer program business."

"Meadowbrook is enjoying a direct fit with Target Markets Program Administrators Association," McIntyre elaborates. "As a carrier partner of Target Markets, we are able to directly assist the top program administrators and bring our expertise to the equation."