MESSAGE FROM BILL HUGHES
We Are Transforming While Performing
Dear Valued Partner,
The last few years have brought major shifts to our industry. The extreme weather, inflation, and explosive reinsurance premiums of 2023 have been succeeded by the legal system abuse, runaway claim verdicts, and increasing umbrella and auto pricing of 2024.
Additionally, a significant number of agents are experiencing changes in ownership. Nearly 100 Arbella agencies have changed ownership in the past three years, a trend associated with retirements as well as merger & acquisition activity, which is expected to continue. Despite these changes, our business has not been adversely impacted, retention remains strong, and we are seeing growth with some of the largest and most active acquirers. We are pleased to be building strong relationships with new owners every day while sustaining those with long-term partners. Arbella remains an innovative and financially strong market for New England’s agents and customers.
Now more than ever, our agents have questions about the market and how it impacts their customers. We consistently receive favorable feedback on our responsiveness and the actions we are taking in this changing world. We are training our people to think differently, and are delivering new products and services to meet your customers’ evolving needs.
The result of our efforts is in the numbers: For four consecutive years, Arbella Commercial Lines has delivered a combined ratio below 95%. In the first half of 2024, our new business growth has been strong, and we have remained strategic about how and where we grow. Renewals and retention have been strong, too. Although we have taken rate, we continue to be highly competitive at a time when many commercial carriers struggle with profitability.
Part of our growth strategy is to replicate in New Hampshire what we’ve achieved in Massachusetts, Connecticut, and Rhode Island. We are building meaningful momentum in New Hampshire and are pleased with our new business growth in all four states.
Arbella is clearly transforming while performing, but still many challenges lie ahead. You can depend on Arbella to continue to put relationships first while investing in innovative solutions for you and your customers.
Thank you for your partnership.
Sincerely,
William S. Hughes, CPCU Vice President, Commercial Lines
Arbella Insurance
(617) 328-2505
Group
William Hughes, CPCU
PRODUCT NEWS AND UPDATES
We’re Here for You!
Our Appetite Remains Consistent!
Our top markets continue to be Construction: 25%, Restaurants: 13%, and Services: 12%. Don’t see what you’re looking for? Contact your underwriter for a quick and expert response.
New CPP Platform is Live!
Arbella’s CPP platform now provides account billing functionality for all our commercial lines business, a faster issuing process, and an updated quote proposal format with additional content.
Gaining Ground in New Hampshire!
It’s been a year since we began our growth campaign in New Hampshire, and we are thrilled to be working with agents headquartered in the state and those with representation there. Our Underwriting, Marketing, and Loss Control teams are building a positive presence with both agents and customers. The result is strong profitable growth in New Hampshire!
Coming Soon: New Webinar – Resiliency: Managing the Impacts of Climate Change
This webinar brings weather resiliency strategies and best practices to Arbella agents. The first in a series of agent-focused educational resources, this webinar will be available in the Arbella Learning Center at Arbella Connect.
CL Water Mitigation Pilot Program Update
Since its kickoff in September 2023, our Hartford Steam Boiler Water Mitigation Pilot Program has proven that early intervention with technology can reduce real dollar losses. With two significant saves thanks to piloted water sensors, we will continue to invest in weather resilience technology solutions. Next step: This summer we began shipping water shutoff valves to currently enrolled and eligible pilot participants for even greater protection!
Fall Agent Lunch Meetings
We look forward to seeing you! All meetings begin with lunch at noon:
Quincy – October 22 at Granite Links
Woburn – October 23 at Hilton Woburn New Location!
Northampton – October 24 at Hotel Northampton
Wallingford – November 5 at Hilton Garden Inn
Warwick – November 7 at Radisson Hotel
Bouvier Insurance - A Model Employer
Bouvier Insurance, headquartered in West Hartford, Connecticut, has been recognized as a Top Workplace for the past 10 consecutive years by the Hartford Courant. How does a small, growing agency consistently achieve this level of recognition?
Bouvier was established by Robert F. Bouvier in 1959 and is now led by his son Robert R. Bouvier (Rob). The agency employs 145 employees in Connecticut, Rhode Island, Tennessee, and Georgia. They recently celebrated their 65th anniversary with an all-employee event in Boston.
Top Workplace awards are based on anonymous employee feedback captured by a third-party survey. The survey measures culture drivers critical to organization success, including employee alignment with company strategy, confidence in company trajectory, and opportunities for career development.
INTEGRITY IS ALIVE AT BOUVIER
“Our father built the agency on integrity. Employees tell us again and again that the integrity we demonstrate with them and with our customers matters,” Rob said.
“The Top Workplace survey helps us understand what we are doing well and where we can improve. We also hear ongoing feedback from our Employee Relations Committee and day-to-day feedback from all offices. The key is to listen and respond promptly,” said Rob. As a result, the agency enjoys high employee retention, and it is not unusual for people to enjoy their entire careers with the company.
A VALUE-DRIVEN PEOPLE STRATEGY
Integrity is the foundation of Bouvier’s people strategy. “Our onboarding is rigorous with training and mentoring at all levels. Each employee receives a customized career road map aligned with their goals. I am particularly proud of the number of our employees who have achieved and sustained their CIC and CPCU designations. We offer a hybrid workweek and the flexibility people need to achieve work-life balance. When choosing benefits offerings, we choose what we would want for our own families.”
Despite all the challenges facing agents today, Bouvier has remained a resilient and reliable employer in several markets. As Rob added: “Arbella and Bouvier share people-first values that not only make working together easy but are a powerful foundation for success.”
Arbella’s Response to Climate Change
Weather resilience strategies help customers mitigate the impact of extreme weather on their property.
We recently talked with our Commercial Lines Product Director, Liz Misero, and Loss Control Manager, Brian Clark, about how Arbella is supporting agents and customers in today’s weather-vulnerable market.
What impact is climate change having on our industry?
Climate change and the impact of extreme weather have increased the frequency, likelihood, and severity of catastrophic weather events. Secondary weather events now represent levels of risk that require business owners to evaluate whether a forecasted rainstorm could become a business-impacting issue. At the same time, many consumers often don’t understand the impact that global extreme weather is having on them. For example, it’s hard to understand how a wildfire in California drives rates up in New England. Global catastrophes have global impact on the cost of reinsurance.
What is Arbella doing in response to extreme weather?
While we can’t control the weather, we can work together to help mitigate the impacts of extreme weather on property, including:
• Loss Control – Loss Control is not just about inspections at Arbella. We have been investing in training and developing our Loss Control staff to consult on a wide range of business continuity issues, including extreme weather and supply chain impacts.
• Technology – Our Hartford Steam Boiler Water Mitigation Pilot Program has resulted in positive feedback and real dollar loss savings for enrolled customers. One thing we know for sure: Early intervention with technology can significantly reduce losses.
• Training and Communication – We will bring our expertise to you through webinars, featuring real-world examples of customers who are implementing successful weather resilience strategies. We will keep you updated on industry trends through our agent lunch meetings and our magazines, Signals and Trade Winds.
How can agents help their customers become more weather-resilient?
Agents can take preemptive action to help identify customers who would benefit from the advice and support of Arbella Loss Control consultants. For more information, please contact your underwriter or Brian Clark at brian.clark@arbella.com.
Programs designed to support you:
• Coming Soon - Resiliency: Managing the Impacts of Climate Change webinar for agents. Go to the Arbella Learning Center via Arbella Connect for this first of several resources on this topic.
• Our Water Mitigation Pilot Program has begun deploying water shutoff valves to currently enrolled and eligible participants.
• More to come!
“I have been with Arbella for nine years. The work-life balance, team camaraderie, management support, career advancement opportunities, and benefits make it easy to continue to choose Arbella as my employer year after year.”
Alex Chodor, Underwriter
“Before joining Arbella, I had heard that the company’s values and culture are built around its employees and teamwork. Since coming on board, Arbella has exceeded my expectations. I am extremely excited to be part of the team and grow with the company.”
Alex
Maratta,
Premium Audit Specialist
“From my first interview to my first visit to Arbella, I knew it was the company for me. The lobby atmosphere was just wonderful; strangers greeted me and smiled as they passed. Everyone’s kindness was the perfect introduction to Arbella’s culture.”
Anne Ramos, Premium Auditor II
““I have worked at Arbella for 14 years, and I am thrilled to have just joined the CL team. I continue to choose Arbella as an employer because the company continues to demonstrate its commitment to my work-life balance and career development.”
Nick Pabst, Underwriter
“I appreciate Arbella’s culture, which supports individual growth and provides opportunities to give back to the community. By focusing on building and cultivating relationships, I believe that we truly are making a difference.”
Jim Czura, Senior Underwriter
L-R: Alex Chodor, Alex Maratta, Anne Ramos, Nick Pabst, Jim Czura
IN THE COMMUNITY
Paul & Dixon Insurance—Building Bridges to a Better Future
Founded in 1852, Paul & Dixon Insurance was one of the first insurance agencies in New Bedford. Today, the agency operates two offices serving the South Coast of Massachusetts and beyond.
BUILDING STRONGER COMMUNITIES
The South Coast is full of history and seaside beauty. It is also an economically challenged urban gateway and a tight-knit community of people who actively help each other.
Steve Connulty, Paul & Dixon President and CEO, grew up in New Bedford and in the agency. His father, Ed, was a partner, and Steve learned early that local agents exist to protect and support their neighbors. “Our clients do so much for us, and we get to know the communities’ needs at a grassroots level,” Steve said. “We help address some of the most pressing issues together.”
INTRODUCING INSURANCE TO THE NEXT GENERATION
About five years ago, Steve participated in a panel discussion for New Bedford High School’s Academy of Finance program. This program connects students with the world of financial services, including the insurance industry.
Today, Academy of Finance students complete a rigorous program of classroom training and internship work that can prepare them for higher education as well as placement in local positions right out of school. “You don’t need a college degree
to have a great career in insurance,” Steve said. “Community is important to young people. Students have learned that they can live local, work local, have a short commute, and make a really good living.”
OPPORTUNITIES FOR EMPLOYEES TO GIVE BACK
“Interning presents opportunities for young adults to develop new skills. Learning about the insurance industry and working digitally are useful for the future. Making connections and helping others benefits you and the people around you.”
– Audra Dedrick, Paul & Dixon Insurance Intern
Paul & Dixon employees give their time, talents, and donations to a wide variety of organizations, including the Boys and Girls Club, the Jimmy Fund, the Waterfront Historic Area League (WHALE), and more. The Arbella Insurance Foundation is there to support them. “The Arbella Foundation is the best of any we work with,” Steve said. “They are deeply involved in the community and consistently support our efforts, too. Through our Chairman Circle match and all the other Arbella Foundation matches, we are making a significant and positive impact on the communities we serve. There is no carrier that supports us better.”
Designer