BUA Insurance Agency

Name

BUA Insurance Agency

Legal name

BUA Insurance Agency

Website

https://buainsurance.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

11–50 employees

Short description

BUA Insurance Agency is a Portsmouth, NH-based specialty insurance program manager and division of Specialty Program Group LLC, underwriting in-house policies for event cancellation, event liability, weather, prize/promotion, coastal homeowners, and Game of Chance surety bonds across the United States.

Ownership category

akta.pro rank

Headquarters

HQ city

Portsmouth

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Insurance Premiums: BUA Insurance generates revenue through specialty insurance program management, collecting premiums from policyholders. The company offers tailored insurance products including Event Cancellation Insurance, Event Liability, Weather Insurance, Coastal and High-Value Secondary Homeowners Insurance, Property Insurance, Prize and Promotion Insurance, and Game of Chance Surety Bonds.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

BUA Insurance Agency is a specialty insurance program manager that designs and sells in-house insurance policies, including Event Cancellation Insurance, Event Liability, Weather Insurance, Coastal and High-Value Secondary Homeowners Insurance, Property Insurance, Prize and Promotion Insurance, and Game of Chance Surety Bonds for consumer promotions in New York and Florida. The company tailors coverage to customer needs and distributes policies directly via its websites and downloadable applications, operating under subsidiaries such as ShowDown Event Insurance, Weather Insurance Agency, and Prize and Promotion Insurance.

Differentiator

Problem solved

Functional benefit

Brands

• Prize and Promotion Insurance: Insurance products for consumer promotions, prize giveaways, and sales events to protect promotional investments and bottom line.
• Weather Insurance Agency
• ShowDown Event Insurance

Products and services

• Event Cancellation Insurance Insurance that protects event organizers from the financial impact of circumstances beyond their control that may postpone, relocate, or cancel an event, allowing the event to be made whole. Targeted at trade shows, conventions, sporting events, concerts, and award shows.
• Event Liability Insurance Liability coverage for event organizers protecting against bodily injury or property damage claims arising during trade shows, conventions, sporting events, concerts, and award shows.
• Weather Insurance Insurance product from BUA affiliate Weather Insurance Agency that protects investments in events or promotions from weather-related financial losses with no proof of loss required.
• Coastal and High-Value Secondary Homeowners Insurance Specialized property insurance coverage for coastal properties and high-value secondary homes that standard homeowners carriers often decline or underprice.
• Property Insurance General property insurance coverage offered by BUA across its various property risk programs.
• Game of Chance Surety Bonds Surety bonds required by New York and Florida for consumer promotions with prize pools of $5,000 or more, guaranteeing that prizes will be paid out. BUA can also register the promotion with the relevant state on the sponsor's behalf.
• Prize and Promotion Insurance Insurance coverage that protects businesses running consumer promotions, sales events, and giveaways by covering the financial risk associated with prize payouts and promotional activities.

Quantifiable outcome

• Thousands of events insured since inception

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core.

• Weather Insurance AgencycoreOthersAffiliate company providing weather insurance products as part of the BUA Insurance family. Weather Insurance Agency offers comprehensive weather insurance products with no proof of loss requirement.
• ShowDown Event InsurancecoreOthersSubsidiary providing event insurance products including Event Cancellation Insurance, Event Liability, and Tradeshow Manager General Liability. Has insured thousands of events including trade shows, conventions, sporting events, concerts, and award shows.
• Prize and Promotion InsurancecoreOthersSubsidiary providing prize and promotion insurance as part of the BUA Insurance family. Helps businesses protect their bottom line when running sales events, giveaways, and promotions.
• Specialty Program Group LLCcoreOthersParent company of BUA Insurance Agency. BUA operates as a division of Specialty Program Group LLC, doing business in California as SPG Insurance Solutions.

Scale indicators1 record

Direct peers

• K&K Insurance: K&K Insurance is a direct peer specializing in event, sports, entertainment, and leisure insurance, including event cancellation and liability — closely aligned with BUA's ShowDown and event cancellation programs. Both serve trade shows, sporting events, and entertainment venues with specialty coverage.
• RPS (Risk Placement Services): RPS is a specialty insurance program manager/wholesale broker placing complex and niche risks, including event, weather, and property lines. The business model parallels BUA's role as a specialty program manager leveraging carrier relationships.

Broad incumbents

• Hiscox: Hiscox is a specialty insurer offering event cancellation, liability, and niche commercial coverage through digital and broker channels. It overlaps with BUA's small-business event and specialty lines but operates as a much broader specialty carrier globally.
• Markel Corporation: Markel is a specialty insurance carrier with event cancellation, entertainment, and contingency products. It serves similar markets as BUA but at materially greater scale with diversified specialty lines.
• Amwins Group: Amwins is a specialty insurance distributor and program manager with broad specialty capabilities. It competes indirectly with BUA for niche property, surety, and specialty program placements through wholesale channels.
• Burns & Wilcox: Burns & Wilcox is a wholesale specialty insurance broker placing excess/surplus and niche commercial lines, including events, property, and surety. It is comparable as a specialty placement intermediary rather than direct retail competitor.
• Crum & Forster: Crum & Forster is a specialty property and casualty insurer with event cancellation and entertainment products in its portfolio. It competes in similar niches but serves a broader commercial book.
• Aspen Insurance Holdings: Aspen is a specialty insurer with event cancellation, contingency, and entertainment exposure. It overlaps with BUA on specialty event and weather coverages but at much larger scale and global reach.
• Philadelphia Insurance Companies (PHLY): Philadelphia Insurance is a specialty carrier with event liability, entertainment, and inland marine/property lines. It is comparable as a broad specialty insurer covering many of the same niches as BUA's portfolio.

Emerging players

• CoverWallet: CoverWallet is a digital commercial insurance brokerage serving small businesses with multiple lines, including event and specialty coverages. It overlaps with BUA on SMB event liability/cancellation but with a tech-forward distribution model.

Market position

Customer concentration

• Xx.com/buainsurance
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BUA Insurance Agency