CapSpecialty is a leading provider of specialty insurance solutions for small to mid-sized businesses across the United States. Founded in 1959 and headquartered in Middleton, Wisconsin, the company offers a diverse range of products, including Commercial Property and Casualty, Professional Liability, Surety, and Fidelity insurance. CapSpecialty operates through its subsidiaries—Capitol Indemnity Corporation, Capitol Specialty Insurance Corporation, and Platte River Insurance Company—all of which are rated A ("Excellent") by A.M. Best. As an operating subsidiary of Berkshire Hathaway, CapSpecialty leverages its financial strength to provide tailored insurance solutions.
Key Strategic Focus
CapSpecialty's strategic focus centers on delivering specialized insurance products to small and mid-sized businesses. The company emphasizes a limited distribution model, partnering with select agents and brokers to offer personalized service and cultivate mutually beneficial relationships. By maintaining an entrepreneurial spirit and agile underwriting approach, CapSpecialty effectively manages risk and identifies unique opportunities in the competitive insurance landscape.
Financials and Funding
As a subsidiary of Berkshire Hathaway, CapSpecialty benefits from substantial financial backing. While specific financial details are not publicly disclosed, the company's operating companies maintain an A ("Excellent") rating from A.M. Best, reflecting strong financial health and stability.
Product Offerings
CapSpecialty provides a comprehensive suite of insurance products tailored to various industries:
- Healthcare: Customized coverage for human services organizations and miscellaneous medical facilities.
- Management Liability: Insurance solutions for private and non-profit organizations.
- Professional Liability: Coverage for asset managers, insurance agents and brokers, insurance companies, lawyers, media and film companies, tech companies, and other professionals.
- Specialty Casualty: Products designed for construction, environmental, excess, and other specialty risks.
- Surety & Fidelity: Surety and fidelity bonds, including commercial and commercial contract surety, fidelity, non-standard, and small construction contract bonds.
Leadership Team
CapSpecialty's leadership comprises experienced professionals dedicated to the company's mission:
- Adam Sills: President and Chief Executive Officer.
- Todd Burrick: Chief Underwriting and Risk Officer.
- Ryan Byrnes: Chief Financial Officer.
- Lynne Fletcher: Chief Marketing & Engagement Officer.
Competitor Profile
CapSpecialty operates in a competitive market with several notable players:
- Ascensus: Provides recordkeeping services.
- Bayport: A financial services provider.
- Sagicor: Offers financial products and services.
- Bajaj Finserv: A financial services company.
These competitors offer various financial and insurance services, contributing to a dynamic and evolving industry landscape.
Strategic Collaborations and Partnerships
In January 2018, CapSpecialty acquired the renewal rights to Rockhill Insurance Group's environmental book of business. This strategic move enhanced CapSpecialty's presence in the environmental insurance segment and aligned with its focus on small to mid-sized businesses.
Operational Insights
CapSpecialty's limited distribution model and focus on personalized service distinguish it from competitors. By partnering with select agents and brokers, the company fosters strong relationships and delivers tailored insurance solutions, enhancing its market position.
Strategic Opportunities and Future Directions
CapSpecialty aims to expand its product offerings and strengthen its market presence by leveraging its financial stability and underwriting expertise. The company continues to seek strategic acquisitions and partnerships to enhance its capabilities and address the evolving needs of small and mid-sized businesses.
Contact Information
For more information, visit CapSpecialty's official website:
CapSpecialty's headquarters are located in Middleton, Wisconsin.
