HWP Insurance

Name

HWP Insurance

Legal name

Howard W. Phillips & Co.

Website

https://hwphillips.com

Company type

Private

Founded year

1916

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Insurance Brokerage Services

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331)

akta.pro industry

PRIMARYFSAJADAD

Public Liability (Premises/Operations)

Financial & Insurance/Insurance — Motor, Property & Casualty/General Liability Insurance

SECONDARYFSAJACAA

Homeowners Insurance

Financial & Insurance/Insurance — Motor, Property & Casualty/Property Insurance (Homeowners, Renters & Commercial Property)

SECONDARYFSAIAFAD

Small Group Health Insurance (2–50/100)

Financial & Insurance/Insurance — Life & Health/Group Health Insurance (Employer-Sponsored)

Keywords

• Commercial insurance brokerage
• Employee benefits administration
• Personal lines insurance
• Risk management advisory
• Surety bond services

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Insurance Brokerage Commissions: HWP Insurance operates as an independent insurance agency earning commissions from insurance carriers for placing business, employee benefits, and personal insurance policies. The agency works with multiple carrier partners to offer customized coverage solutions.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

HWP Insurance is a full-service independent insurance agency that places business insurance, employer-sponsored employee benefits, and personal lines coverage with a panel of multiple carrier partners in the Mid-Atlantic region (Washington D.C., Maryland, Virginia). The agency earns placement commissions from carriers and brokers coverages including commercial property/casualty, management and professional liability, cyber liability, surety bonds, captive insurance services, group health/dental/vision, group life and disability, voluntary benefits, executive programs, and personal lines such as homeowners, auto, umbrella, recreational, valuables, flood, life, and personal cyber.

Product overview

HWP Insurance operates as a full-service independent insurance agency offering a comprehensive portfolio of insurance products and risk management services. The company provides three main product lines: Business Insurance (commercial property, casualty, management liability, cyber liability, professional liability/E&O, international business, surety bonds, and captive services), Employee Benefits (group health/dental/vision, life/disability, voluntary benefits, and executive programs through their MyWave HR portal), and Personal Insurance (private client, auto, homeowners, umbrella, recreational, valuables & collections, life, and flood insurance). The agency also offers specialized products including level-funded health plans for small businesses and personal cyber insurance endorsements. Founded in 1916 and headquartered in Washington D.C. with an additional office in Annapolis, Maryland, HWP serves clients across the Mid-Atlantic region.

Differentiator

Problem solved

Functional benefit

Brands

• MyWave: Customer portal for Human Resources portal, HR-related legislative changes, administrative tools, and compliance updates.

Products and services

• Commercial Property Insurance Property insurance coverage for commercial clients' physical assets, including buildings, business personal property, and business interruption cover; placed with carrier partners as part of HWP's business insurance line.
• Commercial Casualty Insurance Casualty insurance coverage for commercial clients, including general liability and related liability exposures; placed through HWP's commercial carrier panel.
• Management Liability Insurance Coverage protecting commercial clients' directors, officers, and management from liability exposures (including directors & officers, employment practices, and fiduciary liability), placed with carrier partners.
• Cyber Liability Insurance Cyber liability coverage for commercial clients facing data breach, ransomware, and other cyber exposures, placed through HWP's commercial carrier panel.
• Professional Liability Insurance (Errors & Omissions) Errors & omissions / professional liability coverage for commercial clients in professional services and other specialty occupations, placed through HWP's commercial carrier panel.
• International Business Insurance (Foreign Casualty) Foreign casualty / international business insurance coverage for commercial clients with operations or exposures outside the U.S., placed through HWP's commercial carrier panel.
• Surety Bonds Surety bond placement for commercial clients (e.g., contract, license, and commercial surety bonds), placed through HWP's surety carrier partners.
• Captive Insurance Services Captive insurance program services for commercial clients seeking alternative risk financing structures, coordinated through HWP and its carrier partners.
• Group Health, Dental and Vision Insurance Group health, dental, and vision insurance placement and administration for employer clients, offered through HWP's Employee Benefits service line and carrier partners.
• Group Life and Disability Insurance Group life and short- and long-term disability insurance placement for employer clients, offered through HWP's Employee Benefits service line.
• Voluntary Benefits Voluntary/employee-paid benefits placement for employer clients seeking supplemental coverage options for their workforce, offered through HWP's Employee Benefits service line.
• Executive Programs Executive-level benefits programs (e.g., executive carve-out plans and supplemental coverage for key employees) for employer clients, offered through HWP's Employee Benefits service line.
• Level-Funded Health Plans Level-funded group health plan solutions for employer clients seeking an alternative to fully insured plans, offered through HWP's Employee Benefits service line.
• Private Client Insurance Bundled personal lines coverage packages tailored for high-net-worth individuals and families, coordinated through HWP's Private Client desk.
• Auto Insurance Personal auto insurance coverage for individuals and families, placed through HWP's personal lines carrier panel.
• Homeowners Insurance Homeowners insurance coverage for individuals and families, placed through HWP's personal lines carrier panel.
• Personal Umbrella Insurance Personal umbrella / excess liability coverage for individuals and families seeking additional liability protection above underlying personal lines limits, placed through HWP's personal lines carrier panel.
• Recreational Insurance Insurance coverage for recreational vehicles (boats, motorcycles, RVs, ATVs, etc.) for individuals and families, placed through HWP's personal lines carrier panel.
• Valuables and Collections Insurance Scheduled personal property coverage for high-value items such as jewelry, fine art, and collections, placed through HWP's personal lines carrier panel.
• Flood Insurance Flood insurance coverage for homeowners and other property owners, placed through HWP's personal lines carrier panel.
• Life Insurance Personal life insurance coverage for individuals and families, placed through HWP's personal lines carrier panel.
• Personal Cyber Insurance Personal cyber and identity theft coverage for individuals and families, placed through HWP's personal lines carrier panel.

Quantifiable outcome

• Best Practices Agency recognition honors excellence in customer retention, growth, stability and financial management

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Captive ResourcescoreStrategic or Co-development PartnerHWP works with Captive Resources as their captive management partner, one of the largest Captive Managers in the world managing over $5 billion in total premiums and $12 billion in assets. Together they offer group captive insurance solutions for mid-sized businesses looking to lower their total cost of risk.
• United HealthcareminorOthersHWP insurance advisors serve on the Broker Advisory Council for United Healthcare, contributing insights on employee benefits products and market trends.
• AetnaminorOthersHWP insurance advisors serve on the Broker Advisory Council for Aetna, contributing insights on employee benefits products and market trends.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Brown & Brown, Inc. Large publicly-traded insurance brokerage built through serial acquisitions of independent agencies like HWP. Operates across commercial, personal and benefits lines with overlapping mid-market customer profiles.
• Acrisure: One of the largest U.S. insurance brokerages, built through aggressive roll-up of independent agencies. Has acquired numerous Best Practices-designated firms and competes directly for mid-sized commercial and personal lines clients nationally.
• Lockton Companies: Largest privately-held insurance brokerage in the world, with strong commercial, benefits and specialty practices. Competes with HWP for government contractor and association business, and offers captive and international coverage comparable to HWP's specialty book.
• Hub International: Major North American insurance brokerage with a strong Mid-Atlantic presence. Offers commercial P&C, employee benefits, and personal lines via an agency-cluster model similar to HWP's, but with substantially broader geographic and product reach.
• USI Insurance Services: Top-10 U.S. insurance brokerage serving mid-sized to large businesses across commercial P&C, employee benefits, and personal lines. Competes with HWP for the same mid-market and government-contractor commercial book, but at significantly greater scale.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk-management firm with significant commercial, benefits and captive operations. Competes with HWP for mid-sized commercial clients and government contractor work, especially through its Gallagher Captive Services practice.

Regional players

• Hilb Group: Mid-Atlantic-rooted insurance brokerage that has grown largely through acquisitions of independent agencies. Operates a multi-line commercial, personal and benefits book similar to HWP, and competes for the same mid-sized business clients in the DC/MD/VA corridor.
• The Insurance Office of America: Privately-held independent insurance agency offering commercial, personal and employee benefits across multiple states. Operates a similar relationship-led, multi-carrier brokerage model to HWP.

Emerging players

• World Insurance Associates: Rapidly growing insurance brokerage that acquires independent agencies across the U.S., with strong Mid-Atlantic activity. Comparable personal, commercial and benefits mix; represents a likely strategic or roll-up acquirer of agencies like HWP.

Direct peers

• RPS (Risk Placement Services): Specialty wholesale and retail insurance brokerage that places commercial and personal lines through multiple carrier partners. Closely comparable agency/brokerage operating model and carrier-intermediary economics to HWP.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/HWPInsurance

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 HWP Insurance