Specialty Insurance

Northeast Indiana is a founding place for successful insurance companies fueled by innovative product lines. From the beginning, our region has been home to an expanding specialty insurance industry. There are incentives to adding your businesses to our cluster too. Tax exemptions and credits, employee training, and a positive regulatory climate welcome new insurance companies to the region regularly. 

Meet our industry leaders:

Are you ready to land your business in a historically tried-and-true insurance sector? There’s a place for your business among the juggernauts.

  • Lincoln National Life Insurance Company provides advice and solutions that help empower Americans to take charge of their financial lives with confidence and optimism. In 2016, Lincoln was named the 2016 Best Life Insurance Company in America by World Finance magazine. More than 17 million customers trust Lincoln Financial’s retirement, insurance, and wealth-protection expertise to help address their lifestyle, savings, and income goals, as well as to guard against long-term care expenses. 
  • Medical Protective is a national leader in primary medical professional liability coverage and risk solutions. MedPro Group is Warren Buffett/Berkshire Hathaway’s dedicated healthcare liability solution, and the nation’s highest-rated medical malpractice carrier, according to A.M. Best.
  • Brotherhood Mutual is one of the nation’s leading insurers of churches and ministries. From 2008 to 2016, Brotherhood Mutual was named one of the best places to work in Indiana. The company was also named one Ward’s 50 Top Performers for property and casualty insurance in 2009 and 2010.
  • American Specialty is recognized as a leader in providing risk services and insurance for amateur sports, professional teams, and individual athletes, as well as the entertainment industry. It continues to grow in the region, maintaining its headquarters in Fort Wayne.
  • Swiss Re Group is a leading wholesale provider of reinsurance, insurance, and other insurance-based forms of risk transfers. Dealing direct and working through brokers, its global client base consists of insurance companies, mid-to-large size corporations, and public-sector clients. In 2014, Swiss Re was named Best Captive Reinsurer at the United States Captive Services Awards.
  • PHP has earned a reputation for outstanding customer satisfaction among members, employers, and provider networks. PHP has been awarded by The International Association for Worksite Health Promotion and The Wellness Council of America for various workplace wellness programs. 
  • INGUARD is an insurance and risk management firm, serving clients throughout the U.S. and abroad. Licensed in all 50 U.S. states, INGUARD provides consulting services, insurance products, and risk management strategies to individuals, families, and businesses, and specializes on niche markets and portfolios with complex needs.
  • Ash Brokerage Corporation, the largest privately held insurance brokerage in the nation, is a wholesale insurance brokerage partner to insurance agents, financial advisers, and career agents, expanded its headquarters, which will create up to 115 new jobs by 2018, and invested $19.6 million in the 90,000 square-foot building downtown. Ash is also frequently named one of the best places to work in Indiana. 
“We’ve called Northeast Indiana home for almost 100 years, and we stay here because it’s an excellence place to live and work. We are able to recruit and maintain a talented workforce, and our employees enjoy living in this affordable, family-friendly area where people still believe in putting others first.” —Mark Robison, Chairman and President, Brotherhood Mutual

Business-Friendly Environment for Insurance and Financial Companies

We work for you to foster a business-friendly culture. We work closely with the Regional Chamber of Northeast Indiana to foster new and amended legislation to continuously improve our welcoming business climate and regulatory environment. With enhanced performance in efficiency, innovation, and entrepreneurship, we work for you to develop creative ways to expand on past successes and to reposition for the future.

Why is the insurance industry so strong in Northeast Indiana? We’re so glad you asked.

Access to Trained Insurance Workforce

Jobs in the insurance field account for 53.7 percent of all jobs in the finance and insurance industry in Northeast Indiana, compared to 39.2 percent for the United States.

Positive Regulatory Climate

Indiana has consistently been rated one of the top states for commercial lines by the Property and Casualty Insurance Association of America (PCIAA). Indiana was ranked 18th in the nation by the Institute for Legal Reform in terms of the overall lawsuit climate in a state.

Business-Friendly Tax Environment

As of January 2008, the Indiana premium tax rate was lowered to 1.3 percent, which minimizes a domestic's retaliatory tax exposure when doing business in other states. Domestic insurers may opt to pay the premium tax or the corporate gross income tax.

Fair and Reasonable Civil Justice System

The tort reform act of 1995 emphasizes personal responsibility over corporate responsibility—a legal protection limiting punitive damages for Hoosier businesses. Here are key elements of the law:

  • Applies comparative fault, rather than strict liability, to product-liability cases dealing with defective design or failure to warn
  • Restricts the awarding of punitive damages
  • Allows any person who caused or contributed to an injury to be named as a nonpart

Stable judiciary

The Indiana Supreme Court has been more constructionist in its holdings than most states. It has supported the industry in rulings, impacting punitive damages, workers’ compensation exclusive remedy, and in-house counsel.

Northeast Indiana Specialty Insurers (NISI)

Specialty insurers in Northeast Indiana collaborate with educational and economic development leaders in the region to focus on talent development, marketing, advocacy, and new opportunities for the region’s specialty insurance companies.

Insurance Industry Talent Pipeline 

In Northeast Indiana we not only invest in our businesses but we also invest in tomorrow’s talent today. By coupling our certified training programs with higher-education degrees specific to the insurance sector, we work to ensure that your company has the talent it needs to do business. 

Here are highlights of the education programs feeding a talented workforce to the insurance industry in Northeast Indiana:

  • With more than 18 colleges and universities in Northeast Indiana and an enrollment of over 43,000 students, an educated workforce is available, qualified, and ready. 
  • Annually, more than 1,500 students receive degrees in business or receive their MBAs, with an additional 500 students receiving associate degrees or certifications in business. 
  • The University of Saint Francis in Fort Wayne is the first and only college in Northeast Indiana to offer a bachelor-level degree in the field of risk management and insurance. The new degree was endorsed by regional leaders in the insurance industry: Ash Brokerage, Brotherhood Mutual, Hylant Group, Lincoln Financial, and MedPro Group.
  • Indiana is one of only a handful of states with fifteen universities offering actuarial science and insurance degrees: Ball State University, Butler University, DePauw University, Indiana State University, Indiana University, Indiana University Northwest, IPFW, IUPUI, Purdue University, University of Evansville, University of Indianapolis, University of Notre Dame, University of Saint Francis, University of Southern Indiana, and Valparaiso University.
  • The Fort Wayne area invests in education that prepares students for college. Currently, the region has eight STEM-focused New Tech schools.
Specialty Insurance - Employment and Wages

Source: EMSI 2017.2 Class of Worker, QCEW

Specialty Insurance - Major Employers

Source: 2017.2 Community Research Institute at IPFW

If you’re as passionate about insurance as we are and want to learn about how we can help your business as it grows or relocates, learn more about why you should be doing business in Northeast Indiana.

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