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 essential anniversary – and with some opponents leaving its markets, its massive 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.
“Might is critical for Ok&Ok as 5 years in the past on our sixty fifth anniversary the Metropolis of Fort Wayne proclaimed Might 10 Ok&Ok Insurance coverage Day and the Indiana Senate formally acknowledged our vital contributions to the motorsports, sports activities and recreation insurance coverage trade,” Ok&Ok CEO and president Ron Norton (pictured) advised Insurance coverage Enterprise.
Norton, a 36-year Ok&Ok 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 Ok&Ok chief underwriting officer.
Ok&Ok usually promotes from inside, Norton advised Insurance coverage Enterprise, and workers are appreciative of the “alternatives for development” 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 purchasers throughout the US and Canada, Ok&Ok is targeted on offering a “constant supply” of protection and claims help for insurance coverage consumers and it achieves this by sturdy hyperlinks with insurer companions.
“We companion with a number of extremely rated, financially sound, insurance coverage corporations 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 perfect match for the chance and the insurance coverage corporations with whom we companion.”
The enterprise boasts greater than 70 applications and up to date additions embody staff’ 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, “partially resulting from opponents leaving the market”, Norton stated, but additionally 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 completely satisfied to see sports activities and leisure organizations thriving once more,” Norton stated.
“Whereas COVID was extraordinarily difficult, our underwriters and claims consultants 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 development 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 objective is to make it straightforward for licensed producers to put enterprise with us,” Norton stated.
“No prior appointment or settlement is critical to submit purposes for a protection citation.”
Brokers even have direct entry to underwriting workers, whereas its gross sales group goals to rapidly reply to new enterprise alternatives. One factor that Norton stated units the enterprise aside is its in-house claims workers.
“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 supply 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 objective is to proceed reaching double digit natural development whereas sustaining the profitability every of the 70 applications are at present attaining.