Best Wholesale Brokers USA | 5-Star Wholesale Brokers and MGAs 

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Top performers 

Wholesale brokers and MGAs have become even more crucial players in facilitating coverage across the United States and providing clients with innovative solutions. 

The 2024 winners stand out for their: 

  • operations in emerging markets
     

  • unparalleled product knowledge
     

  • robust marketing strategies
     

At winner Burns & Wilcox, a consistent strategy over the company’s 55-year history has been to ensure the quality of its team.

“The firm’s focus and priority has always been our people – from investing in their professional development to taking care of them during times of need,” explains president Danny Kaufman.

President Bruce Peddle of fellow winner Jencap adds, “We are certainly big enough, where we have access to virtually every resource, every market, and technology that’s available. But we’re not so big that we have internal channel conflict where your competition starts in the desk next to you rather than at various third-party competitors.”
 


 

Standout offerings

Citing what best captures the firm’s ethos, Peddle says, “It’s our casualty brokerage unit. The energy around that team, the sharing of information, the way they collaborate on deals, they seek each other out. The success and the fun that they’re having together is really growing. People want to be on that team, the casualty brokerage is the shining star.”

Comparatively, Johnson & Johnson’s (J&J) homeowner’s program encapsulates the DNA of the firm, founded in 1930.  

“We have made [the homeowner’s program] one of the best in the industry,” comments chief marketing officer, Peter Burrous, who explains how technology weaves into the program’s success by ensuring quoting and binding can be done online.

As a top MGA, J&J gives technology a key role at Johnson & Johnson Preferred Financing, a full-service company that finances both J&J and non-J&J premiums.  

“We feature leading-edge technology, enabling our agents to quickly generate finance agreements from our website. We also provide up-to-date account information and offer drafts or direct deposits to our agents so they can quickly pay for a policy,” adds Burrous. 

Specializing in Property and Casualty, under J&J’s personal lines, the firm insures: 

  • homeowners and dwellings
     

  • high-value homeowners
     

  • manufactured homes 

There is a market advantage for the manufactured homes department, which handles unorthodox challenges such as:

  • contents coverage on vacant and tenant-occupied homes
     

  • any age homes
     

  • tiny homes and stationary travel trailers

 

 

Claire Hunter
“Our family culture is what sets us apart. If you need something as a teammate, I’m going to help you, even if it’s not my department. I think that’s really the glue that keeps us together”
Peter BurrousJohnson & Johnson 

 

Johnson & Johnson secured a silver medal for its High Net Worth specialization, thanks to its dedicated team of underwriters. Burrous says, “This team offers an excellent product array with excellent growth now and in the future.” 

Discussing the differentiators of the firm’s culture, he adds, “It’s the cohesiveness of the family atmosphere.”

This is illustrated by the firm’s core values:

  • relationships and teamwork
     

  • embracing and driving change
     

  • holding teammates accountable
     

  • pursuing excellence with humility
     

  • giving back to the community

Additionally, Burns & Wilcox stands out for its flood practice, with solutions including:

  • private primary flood
     

  • excess flood
     

  • parametric flood 

The firm’s parametric flood offering combines underwriting expertise with data-driven technology to detect flood events. Using physical sensors installed at a property, clients can set pre-selected trigger depths to suit their budget and exposure, creating a unique solution that offers direct and timely payout. 

“Through a multitude of layers and coverage options, we have unified capacity for personal dwellings and commercial property that can be tailored for each client while offering an affordable and sustainable solution,” adds Kaufman.

To further service clients, in 2023 J&J’s Personal Lines Practice launched two property programs out of London – an inland property program and a combination of coastal and inland. 

“The big win is that very few new programs were launched from London last year. Only the organizations with the best track record are being given these programs and capacity,” explains Kaufman. 

 

Claire Hunter
“As a privately held, family-owned and operated organization, we have the freedom to prioritize our associates and their professional development and to make the meaningful investments in technology and other resources that deliver a clear marketplace advantage”
Danny KaufmanBurns & Wilcox

 

Placing emerging risks 

Jencap are at the forefront of identifying emerging and niche risks, expanding its practice to include construction wrap-up insurance and following the legalization of marijuana, introduced its cannabis group.

“We have a specialty cannabis team that is very well versed in the nuance, risks, and exposures that are unique to this industry,” shares Peddle. 

Jencap’s cannabis site pollution liability program is specifically designed for cannabis cultivators, processors, manufacturers, wholesalers, and distributors, addressing significant gaps in coverage for cannabis operations. 

Unique features of the program include: 

  • coverage included for civil fines, penalties, or assessments arising out of a pollution condition
     

  • corrective action costs include those recommended by an environmental professional
     

  • natural resource damages included in definition of property damage
     

  • terrorism coverage 

Introduced in 2023, the firm’s wrap-up practice provides coverage under a single policy for contractors and subcontractors involved in a construction project. 
 
“Think about mega projects where huge intersections are being built on highways or large complexes are being created. Wrap-up construction brings all of that together and insures it as one big project,” explains Peddle. 

“The team brings a wealth of experience to the program. All of them have dedicated their careers to being industry-leading construction brokers, so they know that business inside-out.”

Winning a bronze medal for its Program Business, in addition to core offerings in property and casualty, Johnson & Johnson plans to expand into niche markets. 

“We also have an extension of Johnson & Johnson, where we’re in the program slot, and that is something we’re always looking at expanding,” says Bourrous. 

To stay up to date on industry trends, the firm ensures its underwriters complete agency visits and attend industry conferences. 

“Our underwriters aren’t just sitting behind a screen at a desk all the time,” shares Burrous. “We consider everybody in underwriting a salesperson – we want them to be exposed directly to agency comments.”

Burns & Wilcox is also vigilant about emerging and complex risks. As a member of the HW Kaufman Group, the firm collaborates with other Kaufman companies, including insurance provider RB Jones, to provide clients with access to specialty solutions for developing markets like renewable energy. 

The firm’s standalone general liability offering provides coverage for a broad spectrum of risks including wind, solar, biodiesel, and hydroelectric. Available products include: 

  • machinery breakdown 
     

  • replacement cost (valuation basis)/alternative: repair, replace, reinstate, or make good
     

  • earthquake, flood, windstorm, and hail
     

  • solar property in transit

 

“Our teams lean into the extensive relationships they have built with our carrier partners to bring products to the market that meet specific needs. It’s about understanding the market conditions and reacting with what best serves our clients and their insureds,” says Kaufman. 

The firm’s professional liability practice delivered double-digit growth in 2023, including rapidly growing areas such as technology E&O and cyber liability.

“Within cyber liability, we are growing as a result of partnerships in the US and London,” shares Kaufman. “We benefit from a relationship with Node, a London-based Kaufman company that specializes in cyber and privacy liability solutions.” 

 

Marketing support  

To remain competitive, J&J strategically markets their expertise to bolster brand awareness. Licensed in every state and with over 600 employees, the firm plans to continue growing.  

Having long been a regional player, Burrous shares, “In the last four to five years, we decided that it was important for Johnson & Johnson to become a national player. We have offices in Dallas and Phoenix, and we just did an acquisition in Oregon.”

In addition to territory-specific marketing teams that work alongside partner agencies, the firm also has an internal marketing team responsible for: 

  • product information
     

  • agent information
     

  • marketing materials/collateral
     

  • social media management

Burrous says, “Our marketing team is in the field every day. They’re pulling data and aware of what’s going on in the streets. That feedback is then pushed back to our underwriting teams, which they can use to tweak existing products or introduce new ones.”

Similarly, to increase their own brand awareness, Jencap’s untraditional strategies include: 

  • promotional pedicabs
     

  • Flip the Cap podcast

At the WSIA 2023 conference (organized by the Wholesale and Specialty Insurance Association) in San Diego, Jencap sponsored a fleet of pedicabs wrapped in their logo, offering complementary rides to conference attendees. 

Then in 2022, they launched the Flip the Cap podcast hosted by Kathryn Smith, managing director of marketing. The series explores a wide array of specialized insurance topics from cyber liability to workers’ compensation with industry expert guests. 

“From our social media presence to advertising and trade publications, our marketing support is second to none,” says Peddle.

With over 2,000 employees and more than 50 offices across the United States, Canada, Europe, South America, and Middle East, Burns & Wilcox is focused on scaling its growth worldwide. 

The firm proudly sponsors several PGA (Professional Golf Association) and LPGA (Ladies Professional Golf Association) athletes. Reflecting on the partnership, Kaufman says, “Burns & Wilcox continues to build strong national and international brand recognition through a sport whose values make a positive impact on our business and those who love the game.”

 

Claire Hunter
“Our reputation relies on our integrity and protecting our carrier partners while consistently providing our agency partners with competitive terms and conditions in a timely manner. At the end of the day, it’s really doing what you say you’re going to do”
Bruce PeddleJencap 

 

Product expertise 

The winning firms this year recognize the importance of having employees who are trusted experts.

At Jencap, training and development offerings include:  

  • Internship Program 
     

  • Success Academy 

Launched after the pandemic, the Internship Program is designed for candidates entering their sophomore or junior year of college. Similarly, the Success Academy offers new graduates the opportunity to partake in a two-year rotational program. 

“Whether it’s getting their license or rotating them through various portions of the company, we’re training them so that at the end of two years, they are subject matter experts in whatever division they care to have focused upon,” explains Peddle.

Burns & Wilcox similarly promotes a culture of continuing education and collaboration through:

  • The Burns & Wilcox Producer Forum
     

  • Kaufman Leadership Meeting 
     

  • Kaufman Institute 

Kaufman says, “The [Producer Forum] brings together the top producers from the prior year for an annual celebratory event that honors the company’s ‘best of the best.’”

The Kaufman Leadership Meeting gathers executives for networking events, planning sessions, and panel discussions with high-profile speakers. Last year, attendees were joined by Jim Harbaugh, former head coach of the 2023 National Champion Michigan Wolverines.
  
Additionally, the Kaufman Institute launched a Producer Fast Track program in 2023 to propel high-potential associates and assist them in advancing in their careers.
 
In a similar fashion, J&J requires all employees to complete 16 hours of continuing education annually and covers all training and course-related fees.

“Everyone takes it very seriously, they’re there to gain from it. It’s not just to check a box and do your hours. It’s to be a better, more knowledgeable person tomorrow than you are today,” says Burrous.  

 

5-Star Wholesale Brokers and MGAs

5-STAR MGAs

Ability to place niche or emerging risks

  • Builders & Tradesmen’s Insurance Services (BTIS)
  • CRC
  • Hull & Company
  • M.J. Hall & Company Insurance Brokers
  • XS Brokers

Compensation (commission, bonuses, profit share, etc.)

  • BTIS
  • Kraft Lake
  • M.J. Hall & Company Insurance Brokers
  • XS Brokers

Geographical reach

  • Bass Underwriters
  • BTIS
  • CRC
  • Kraft Lake
  • M.J. Hall & Company Insurance Brokers
  • XS Brokers

Marketing support

  • BTIS
  • M.J. Hall & Company Insurance Brokers

Overall responsiveness

  • Bass Underwriters
  • BTIS
  • CRC
  • Kraft Lake
  • M.J. Hall & Company Insurance Brokers
  • XS Brokers

Pricing

  • Bass Underwriters
  • BTIS
  • CRC
  • Kraft Lake
  • M.J. Hall & Company Insurance Brokers
  • XS Brokers

Range of products

  • BTIS
  • CRC
  • Hull & Company
  • M.J. Hall & Company Insurance Brokers
  • XS Brokers

Reputation

  • Bass Underwriters
  • BTIS
  • CRC
  • Hull & Company
  • Kraft Lake
  • M.J. Hall & Company Insurance Brokers
  • XS Brokers

Technical expertise and product knowledge

  • Bass Underwriters
  • BTIS
  • CRC
  • Hull & Company
  • Kraft Lake
  • M.J. Hall & Company Insurance Brokers
  • XS Brokers

Technology/automation

  • BTIS
  • Kraft Lake
  • M.J. Hall & Company Insurance Brokers

ALL-STARS

  • Jencap
  • Johnson & Johnson
  • Brown & Riding
  • Gorst & Compass
  • Integrated Specialty Coverages
  • London Underwriters
  • USG Insurance Services
  • BTIS
  • M.J. Hall & Company Insurance Brokers

SPECIALIZATION

Accident and health

Cannabis

Commercial auto/transportation/trucking

  • BTIS
    Bronze

Construction

  • BTIS
    Bronze

Contractors

  • BTIS
    Gold

Cyber

  • CRC
    Bronze

Directors and officers

  • CRC
    Bronze

Environmental

General liability

  • BTIS
    Bronze

High net worth

Hospitality

Management liability

  • CRC
    Bronze

Marine

Non-profit

  • CRC
    Silver

Professional liability

  • CRC
    Silver

Program business

Property (commercial)

  • CRC
    Bronze

Real estate

Small business

  • BTIS
    Gold

Workers’ compensation

  • BTIS
    Gold

BROKERS' PICK

  • BTIS
    Workers’ compensation

 

Methodology

Insurance Business America conducted a survey of retail producers nationwide to determine the best businesses in the wholesale distribution channel. The survey asked respondents to rate the performance and service of each of their wholesale partners on a scale of 1 (poor) to 5 (excellent) against the following 10 criteria:     

  • ability to place niche or emerging risks
     

  • compensation (commissions, bonuses, profit share, etc.)
     

  • geographical reach
     

  • marketing support
     

  • overall responsiveness
     

  • pricing
     

  • range of products
     

  • reputation
     

  • technical expertise and product knowledge
     

  • technology or automation


The wholesale brokers and MGAs that earned an average score of 4 or greater in at least one category were awarded a 5-Star designation. Wholesale partners that received an average score of 4 or greater in all categories received an All-Star designation.
 
Brokers were also asked to rank their top three wholesale brokers and MGAs across 20 major types of insurance. Brokers also named the top insurance products offered by an MGA. Based on brokers’ feedback, IBA calculated the top three winners for each type of insurance and awarded gold, silver, and bronze medals to those wholesale brokers and MGAs. The four insurance products that received the most votes from brokers were awarded the Brokers’ Pick medal.

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