Consistency in wake of competitor exits spells alternative for Okay&Okay

It has been a 12 months of celebration for Fort Wayne-based Okay&Okay Insurance, because it named a brand new CEO and president and marked an essential anniversary – and with some opponents leaving its markets, its large 12 months additionally spells alternative.

The specialty sports activities, leisure, leisure and motorsports enterprise has now been catering to insurance coverage wants for 70 years and even has its personal official Okay&Okay Insurance Day.

“May is important for Okay&Okay as 5 years in the past on our sixty fifth anniversary the City of Fort Wayne proclaimed May 10 Okay&Okay Insurance Day and the Indiana Senate formally acknowledged our important contributions to the motorsports, sports activities and recreation insurance coverage business,” Okay&Okay CEO and president Ron Norton (pictured) advised Insurance Business.

Norton, a 36-year Okay&Okay veteran, stepped into the CEO and president position in July when Todd Bixler, who had led the agency for 12 years, retired. With Norton’s promotion, Stephanie Waldron, previously SVP of occasions and points of interest on the Aon-owned enterprise, was named Okay&Okay chief underwriting officer.

Okay&Okay typically promotes from inside, Norton advised Insurance Business, and employees are appreciative of the “alternatives for progress” that this presents. Meanwhile, its popularity as a long-term employer within the space makes it a vacation spot for native expertise.

Catering to purchasers throughout the US and Canada, Okay&Okay is concentrated on offering a “constant supply” of protection and claims assist for insurance coverage consumers and it achieves this by means of sturdy hyperlinks with insurer companions.

“We associate with a number of extremely rated, financially sound, insurance coverage corporations in order that we stay a secure market for insurance coverage brokers and brokers,” Norton mentioned.

“The insurance coverage firm varies by program; as a result of the protection wants differ between, for instance, a well being membership and a motorsports facility, we select the perfect match for the danger and the insurance coverage corporations with whom we associate.”

The enterprise boasts greater than 70 packages and up to date additions embrace employees’ compensation protection for sports activities, leisure, recreation, and motorsports organizations.

Okay&Okay has seen “heightened curiosity” this 12 months in its campground, motorsports, well being membership, newbie sports activities, and vacationer attraction packages, “partially because of opponents leaving the market”, Norton mentioned, but in addition because of an easing of COVID disruption.

“COVID was definitely a disruptor for most of the organizations we insure and it’s protected to say we’re all completely satisfied to see sports activities and leisure organizations thriving once more,” Norton mentioned.

“While COVID was extraordinarily difficult, our underwriters and claims consultants perceive the bizarre dangers our insureds expertise and are at all times ready to supply protection and loss management options.”

The enterprise has continued so as to add new protection and capability to its present program companies because it targets double digit natural progress and expects to launch a brand new program in 2023 – brokers and brokers ought to “keep tuned”, Norton mentioned.

Okay&Okay doesn’t impose quantity commitments for its agent companions.

“Our purpose is to make it simple for licensed producers to put enterprise with us,” Norton mentioned.

“No prior appointment or settlement is critical to submit functions for a protection citation.”

Agents even have direct entry to underwriting employees, whereas its gross sales workforce goals to rapidly reply to new enterprise alternatives. One factor that Norton mentioned units the enterprise aside is its in-house claims employees.

“Their understanding of the distinctive dangers and the way the insurance policies are written inherent to sports activities and recreation organizations permits Okay&Okay to offer well timed and acceptable claims decision service,” Norton mentioned.

Ron Norton has been within the insurance coverage enterprise for 36 years. As president and CEO at Okay&Okay Insurance, Norton’s purpose is to proceed attaining double digit natural progress whereas sustaining the profitability every of the 70 packages are at present attaining.   



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