Insurance Specialty Group
Insurance Specialty Group is a US-based Managing General Agent underwriting Builder's Risk and General Liability insurance for residential and commercial construction contractors, distributed exclusively through wholesale brokers and retail agents, and operating as an Aon plc subsidiary.
- Company typePrivate
- Founded1999
- HeadquartersAtlanta, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Insurance Specialty Group does
Insurance Specialty Group (ISG) is a US-based Managing General Agent (MGA) and specialty insurance underwriter founded in 1999 by Bruce Harrell in Atlanta, Georgia. The firm focuses exclusively on the residential construction vertical, underwriting Builder's Risk and General Liability policies for home builders, residential general contractors, condominium and apartment developers, and mixed-use construction projects up to 8 stories and $35 million per building. ISG's product suite includes multiple Builder's Risk policy structures (Standard Blanket, Modified Blanket, New Starts, Single-Shot) and General Liability offerings (Annual Renewal Practice, Project-Specific, Wrap Policies with terms up to 48 months), all supported by an integrated Asset Protection Program that combines insurance coverage with contract services and risk-management coaching. The firm operates as a Lloyd's Coverholder, is licensed across the US (44 states for senior leadership), Canada, and the UK, and distributes exclusively through wholesale brokers, retail agents, and a Home Builders Association partnership in the Southeast.
ISG makes money by collecting insurance premiums on underwritten Builder's Risk and General Liability policies and retaining commission and fee income as an MGA. Pricing is quote-based and varies by construction type, coverage limits (up to $10M per structure for Builder's Risk and $15M for General Liability), and project duration. Distribution is indirect: the firm does not sell to end customers directly but relies on wholesale broker and retail agent channels, plus an HBA Builder's Risk Program partnership spanning six Southeast states. Technology infrastructure is light, centered on standard brokerage and underwriting workflows plus a third-party ePayPolicy integration for policyholder premium payments via ACH or credit card. The firm has written over $1 billion in cumulative premium for new construction risks since 1999.
Following its April 25, 2024 acquisition by Aon plc (where it had previously operated as an NFP subsidiary), ISG functions as a specialty construction insurance affiliate within Aon's broader global brokerage platform. Founder Bruce Harrell remains as Managing Director alongside Stephen Harrell (Managing Director), and an underwriting bench of approximately 11–50 employees organized by territory. The firm competes on specialty underwriting expertise, Lloyd's market access, and broker relationships rather than on proprietary technology or scale advantages.
Insurance Specialty Group firmographics
Firmographics- Name
- Insurance Specialty Group
- Legal name
- Insurance Specialty Group, LLC
- Website
- https://insurancespecialtygroup.com
- Company type
- Private
- Founded year
- 1999
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Insurance Specialty Group is a US-based Managing General Agent underwriting Builder's Risk and General Liability insurance for residential and commercial construction contractors, distributed exclusively through wholesale brokers and retail agents, and operating as an Aon plc subsidiary.
- Ownership category
- akta.pro rank
Insurance Specialty Group industry classification
Industry- Product category
- Specialty Construction Insurance Underwriting
- NAICS
- Insurance Agencies and Brokerages (524210), Other Insurance Related Activities (52429)
- SIC
- Insurance Agents, Brokers & Service (6411), Insurance Carriers, Nec (6399)
- akta.pro primary industry
- Construction Specialty (Wrap-Ups/Builders Risk/Contractors) (FSAJAGAH)
- akta.pro secondary industries
- Wholesale Insurance Brokerage (Excess & Surplus Lines) (FSAEADAD), Mid-Market Commercial Package (Package Policies) (FSAJAFAB)
Keywords
Where Insurance Specialty Group is headquartered
LocationHeadquarters
- HQ city
- Atlanta
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Insurance Specialty Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Insurance Premium Revenue: ISG generates revenue through insurance premiums collected from Builder's Risk and General Liability policies underwritten for residential construction risks. The company operates as a Managing General Agent (MGA) writing insurance policies.
- Payment Processing Fees: Revenue generated through payment convenience fees charged by third-party payment processor ePayPolicy for credit card transactions (3.25% per transaction) and ACH payments ($3.00 per transaction). Note: ISG states it does not receive revenue from these convenience fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Quote-based custom pricing for Builder's Risk and General Liability coverage |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Insurance Specialty Group product offering
Product offeringCore offering
Insurance Specialty Group underwrites and distributes specialty insurance for residential construction, principally Builder's Risk and General Liability policies, sold exclusively through wholesale brokers, retail agents, and the HBA Builder's Risk Program. Operating as a Managing General Agent and Lloyd's Coverholder, ISG also bundles coverage with contract services and risk management coaching through its Asset Protection Program for home builders and residential general contractors.
Product overview
Insurance Specialty Group offers a specialized insurance portfolio for the construction industry, centered on two core products: Builder's Risk Insurance and General Liability Insurance. The Builder's Risk line provides multiple policy structures including Standard Blanket, Modified Blanket (a proprietary cost-saving structure unique to ISG), New Starts, and Single-Shot options, all targeting risks up to $10M per structure. The General Liability product encompasses Annual Renewal Practice Policies, Project-Specific & Wrap Policies with limits up to $15M, covering various construction types up to 8 stories and $35M in construction costs. These core products are supported by the Asset Protection Program, which adds contract services and coaching to the insurance coverage for comprehensive asset protection.
Differentiator
Problem solved
Functional benefit
Products and services
- Builder's Risk Insurance Builder's Risk insurance covering owners and builders from damages to structures while under construction, targeting risks up to $10M per structure. Coverage includes fire, natural elements, pipe leaks, vandalism, and theft, with enhancements for wind-prone areas, earthquake, flood, model home contents, jobsite trailers, and soft costs. Sold to residential general contractors, custom home builders, tract home builders, multi-family townhome builders, condominium developers, mixed-use developers, and apartment builders via wholesale brokers, retail agents, and the HBA Builder's Risk Program.
- General Liability Insurance General Liability insurance for residential construction risks including custom or tract single-family homes, multi-family townhomes, condominiums, mixed-use commercial/residential, and apartments up to 8 stories and $35M in construction costs per building. Offers limits up to $15M through Annual Renewal Practice Policies, Project-Specific Policies, and Wrap Policies with terms up to 48 months including extended products-completed operations coverage and Pay-As-You-Sell options. Sold to residential general contractors and developers via wholesale brokers and retail agents.
- Asset Protection Program A comprehensive risk management program combining Builder Contract Services, Builder Best Practice Coaching, and insurance coverage to protect construction assets beyond standard general liability policies. Designed for residential general contractors facing long-tail construction defect liability exposure under state statutes of limitations of 4-10 years.
Quantifiable outcome
- $1 billion in premium written for new construction risks since 1999
- +1 more outcomes
Companies that use Insurance Specialty Group
Customer profileNamed customers8 records
Segments3 records
Ideal customer profiles3 records
Insurance Specialty Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Insurance Specialty Group partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Lloyd'scoreISG is a Coverholder at Lloyd's, providing access to Lloyd's market capacity and expertise for underwriting insurance products. This partnership enables ISG to leverage Lloyd's global insurance market standing and financial strength.
- HBA Builder's Risk ProgramcoreISG is a proud partner to the HBA Builder's Risk Program, providing Builder's Risk insurance coverage in Louisiana, Alabama, Mississippi, Tennessee, South Carolina & North Carolina through the HBA channel.
- Aon plccoreAs of April 25, 2024, Insurance Specialty Group, LLC became a subsidiary company of Aon plc and an affiliate of Aon plc's subsidiary companies. Aon is a global professional services firm providing risk consulting, insurance brokerage, and human resources solutions.
- Voila FoundationminorStephen Harrell, Managing Director of ISG, has proudly sat on the Board of the Voila Foundation for over 5 years. Voila Foundation is a non-profit organization.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
Insurance Specialty Group competitors and assessment
Company assessmentDirect peers
- Safehold Special Risk: Safehold Special Risk is a specialty MGA/coverholder focused on Builder's Risk and construction-related property coverage for residential and commercial builders. It is a directly comparable peer in product, customer segment, and distribution model—Angela Langley joined ISG in 2023 after 15 years as Senior Builders Risk Underwriter at Safehold.
- RPS (Risk Placement Services): RPS is a national wholesale broker and program administrator with significant construction and E&S practice. It places Builder's Risk and construction GL business with specialty carriers/MGAs and competes with ISG for the same wholesale broker mandate and builder relationships.
- Burns & Wilcox: Burns & Wilcox is a major specialty wholesale brokerage and MGA platform placing E&S construction risks. It serves as both a competitor to ISG's wholesale channel relationships and as a potential distribution partner, comparable in product mix (Builder's Risk, GL) and target market (residential and commercial contractors).
- Crump Insurance Services: Crump is a top US wholesale broker and program administrator with a construction and specialty contractor practice. It competes with ISG for residential builder accounts and accesses similar E&S capacity, making it a direct peer in distribution channel and product overlap.
- ICW Group: ICW Group is a regional insurance holding company specializing in workers' compensation and commercial insurance for the construction industry. It serves a comparable contractor customer base and writes construction GL and property coverage, overlapping with ISG's residential construction focus.
- Capital Insurance Group: Capital Insurance Group is a regional property/casualty carrier writing construction and contractor-focused coverage including builders risk and commercial GL. It targets a comparable contractor customer segment and competes for retail agent placement.
Broad incumbents
- Amwins: Amwins is the largest US specialty wholesale broker with deep E&S and construction practices. It competes for the same wholesale distribution relationships that ISG relies on and offers overlapping Builder's Risk and construction GL capabilities through both brokerage and MGA/program business.
- Markel Corporation: Markel is a specialty insurer with significant US construction and excess & surplus lines operations. It writes construction GL, builders risk, and project-specific wrap policies for residential and commercial contractors—overlapping with ISG's product portfolio but at much greater scale and diversification.
- W. R. Berkley Construction Group: W. R. Berkley operates a specialty construction insurance group writing commercial and residential construction risks including builders risk, construction GL, and wrap-up programs. It competes with ISG across multiple construction segments and operates at meaningfully greater scale via admitted and E&S distribution.
Emerging players
- US Risk Insurance Group: US Risk is a specialty wholesale broker and program administrator offering construction and excess & surplus lines coverage. It places builder's risk and contractor GL business through specialty markets and overlaps with ISG's distribution channel and product focus, though at smaller scale than top-tier wholesalers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Insurance Specialty Group social profiles
Digital presenceInsurance Specialty Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
Insurance Specialty Group leadership team
Management profileNumber of profiles
Profiles11 records
Insurance Specialty Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Insurance Specialty Group M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Insurance Specialty Group
What does Insurance Specialty Group do?
Insurance Specialty Group underwrites and distributes specialty insurance for residential construction, principally Builder's Risk and General Liability policies, sold exclusively through wholesale brokers, retail agents, and the HBA Builder's Risk Program. Operating as a Managing General Agent and Lloyd's Coverholder, ISG also bundles coverage with contract services and risk management coaching through its Asset Protection Program for home builders and residential general contractors.
Is Insurance Specialty Group a public or private company?
Insurance Specialty Group is a private company. It is classified as corporate owned and is currently operating.
When was Insurance Specialty Group founded?
Insurance Specialty Group was founded in 1999. It employs 11 to 50 people.
Where is Insurance Specialty Group based?
Insurance Specialty Group is headquartered in Atlanta, United States, in the North America region.
How does Insurance Specialty Group make money?
Two revenue lines are on record. Insurance Premium Revenue is the primary driver. The others are payment Processing Fees.
Who are Insurance Specialty Group's main competitors?
Direct peers on record are Safehold Special Risk, RPS (Risk Placement Services), Burns & Wilcox, Crump Insurance Services, ICW Group and Capital Insurance Group. Broad incumbents are Amwins, Markel Corporation and W. R. Berkley Construction Group. US Risk Insurance Group is listed as an emerging player.
Does Insurance Specialty Group have an API?
No public API is recorded for Insurance Specialty Group.
What industry is Insurance Specialty Group in?
Insurance Specialty Group's product category is Specialty Construction Insurance Underwriting. Its primary akta.pro industry code is FSAJAGAH, Construction Specialty (Wrap-Ups/Builders Risk/Contractors), with a secondary code of FSAEADAD, Wholesale Insurance Brokerage (Excess & Surplus Lines). Its NAICS code is 524210 and its SIC code is 6411.