Wednesday, December 7th, 2022

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

It has been a yr of celebration for Fort Wayne-based Ok&Ok Insurance coverage, because it named a brand new CEO and president and marked an necessary anniversary – and with some opponents leaving its markets, its large yr 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 Ok&Ok Insurance coverage Day.

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

Norton, a 36-year Ok&Ok veteran, stepped into the CEO and president function 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 sights on the Aon-owned enterprise, was named Ok&Ok chief underwriting officer.

Ok&Ok usually promotes from inside, Norton instructed Insurance coverage Enterprise, and employees are appreciative of the “alternatives for progress” that this presents. In the meantime, its repute as a long-term employer within the space makes it a vacation spot for native expertise.

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

“We accomplice with a number of extremely rated, financially sound, insurance coverage firms in order that we stay a steady market for insurance coverage brokers and brokers,” Norton stated.

“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 very best match for the chance and the insurance coverage firms with whom we accomplice.”

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

Ok&Ok has seen “heightened curiosity” this yr in its campground, motorsports, well being membership, newbie sports activities, and vacationer attraction applications, “partly resulting from opponents leaving the market”, Norton stated, but in addition resulting from an easing of COVID disruption.

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

“Whereas COVID was extraordinarily difficult, our underwriters and claims specialists perceive the weird dangers our insureds expertise and are all the time 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 stated.

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

“Our purpose is to make it straightforward for licensed producers to position enterprise with us,” Norton stated.

“No prior appointment or settlement is important to submit purposes for a protection citation.”

Brokers even have direct entry to underwriting employees, whereas its gross sales crew goals to rapidly reply to new enterprise alternatives. One factor that Norton stated 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 Ok&Ok to offer well timed and applicable claims decision service,” Norton stated.

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

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