Ballator Insurance Group

What Ballator Insurance Group does

Ballator Insurance Group is a national specialty insurance organization founded in 2007 and headquartered in Orlando, Florida, that develops and manages innovative insurance programs, risk pools, captives, and risk retention groups for niche industry verticals underserved by traditional brokers. The firm functions simultaneously as a specialty underwriting organization, pool administrator, captive manager, and retail insurance agency, serving public entities (cities, counties, school districts, special districts), non-profit and social service agencies, Professional Employer Organizations (PEOs), and federally funded entities across all 50 U.S. states. Operating subsidiaries include Non-Profit Insurance Services (NPIS), World Risk Management (WRM), First Florida Insurance Brokers, and Libertate Insurance Services, each focused on a distinct vertical with dedicated leadership and program structures such as the Community Services Insurance Program (CSIP), the Public Risk Management of Florida (PRM) pool, and the Florida Insurance Trust (FIT).

The company's revenue model is commission-based: Ballator receives commissions as a percentage of premiums placed with carriers, supplemented by contingent/override compensation, profit-sharing, premium finance fees, expense reimbursements, and interest on premiums held until remitted to insurers. Its proprietary technology platform, RiskMD (described in multiple sources as patented), provides data management and analytics capabilities supporting underwriting and program administration across the group and PEO clients. Distribution operates through direct field sales, the affiliated agency family, and partnerships with A-rated carriers, combined with a unique legislative initiatives service that works with state lawmakers to enact legislation enabling new insurance pooling mechanisms — a capability that is structural rather than transactional.

Ballator is a privately held subsidiary of Accretive Specialty, led since inception by CEO Shane Caldwell alongside Executive Vice President Hasib Bangloria and a bench of principals and vice presidents with 25-30+ years of industry experience drawn from senior roles at publicly traded brokers. Performance indicators include approximately $2 billion in Florida property exposures insured through PRM, close to $2 billion in PEO workers' compensation premiums underwritten, and roughly $200 million in commercial P&C premiums stewarded by a single executive. The firm has received multiple industry recognitions including Risk and Insurance Magazine's Power Broker and Rising Star awards (2016), Business Insurance Magazine's Brokerage of the Year and Wholesale Brokerage Team of the Year awards, and the Orlando Business Journal's 40 Under 40 (2021).

Name

Ballator Insurance Group

Legal name

Ballator Insurance Group, Inc.

Website

https://ballator.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Ballator Insurance Group is a national specialty insurance organization founded in 2007 in Orlando, Florida, that develops and manages innovative insurance programs, risk pools, and captives for underserved niche verticals including public entities, non-profits, and PEOs across all 50 U.S. states.

Ownership category

akta.pro rank

Product category

Specialty Insurance Brokerage

NAICS

Insurance Agencies and Brokerages (524210), Direct Insurance (except Life, Health, and Medical) Carriers (52412), Insurance Agencies and Brokerages (52421), Other Insurance Related Activities (52429)

SIC

Insurance Agents, Brokers & Service (6411), Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Captive Insurance Advisory & Management (FSAEADAF)

akta.pro secondary industries

Reinsurance Pool / Facility Treaty Participation (FSAOAEAL), Stop-Loss & Reinsurance Administration (Captive/Level-Funded Support) (HLAEALAB)

Keywords

• Specialty insurance brokerage
• Commercial property casualty
• Insurance pool administration
• Niche industry programs
• Risk management services

Headquarters

HQ city

Orlando

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Insurance Commissions: Receives commissions paid as a percentage of premiums due to insurance companies. Commissions vary by insurance company, by volume of business placed with that company, and profitability thereof.
2. Contingent and Override Compensation: May receive contingents, overrides, profit-sharing, premium finance fees, expense reimbursements, producer subsidies, award trips, meetings and other incentives from insurers, insurance intermediaries, premium finance companies and other vendors.
3. Premium Finance Interest: Earns interest on premiums held until it is time to pay the applicable insurance companies.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels1 record

Core offering

Ballator Insurance Group is a national insurance organization that provides innovative insurance solutions to niche industry groups underserved by traditional brokers. The company operates as a specialty underwriting organization, pool administrator, risk retention group, captive insurance company manager, and non-traditional insurance provider. Its core deliverables include insurance program and pool development, underwriting and administrative services, retail agency services, excess placement, legislative advocacy, and proprietary data management and analytics powered by the patented RiskMD platform.

Product overview

Ballator Insurance Group operates as a national insurance organization offering a portfolio of proprietary programs, technology platforms, and subsidiary companies. The core offerings include insurance program and pool development, data management services powered by the proprietary RiskMD platform, underwriting and administrative services, legislative advocacy, retail agency services, and excess placement specialists. The group comprises multiple subsidiaries including Non-Profit Insurance Services, World Risk Management, First Florida Insurance Brokers, and Libertate Insurance Services, which collectively serve niche industry groups through specialized programs like the Community Services Insurance Program (CSIP), Public Risk Management of Florida (PRM), and Florida Insurance Trust (F.I.T.). The organization acts as a specialty underwriting organization, pool administrator, risk retention group, captive insurance company manager, and non-traditional insurance provider.

Differentiator

Problem solved

Functional benefit

Products and services

• Non-Profit Insurance Services (NPIS) Program administrator and insurance provider serving non-profit and social service agencies across the United States with property, casualty, and specialized insurance programs.
• World Risk Management (WRM) Exclusive broker and program manager for Public Risk Management of Florida (PRM), a public entity pool insuring approximately $2 billion in Florida property exposures, and broker for public entity accounts.
• First Florida Insurance Brokers
• Libertate Insurance Services Insurance services that identify inherent risks within client workplaces and either place or create insurance mechanisms to effectively manage those risks, serving PEO industry and other specialty clients.
• RiskMD
• Community Services Insurance Program (CSIP)

Quantifiable outcome

• $2 billion in Florida property exposures insured through PRM
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Nine partnerships are on record, tiered core and minor.

• Non-Profit Insurance Services (NPIS)coreChannel Partner/ Reseller/ Distributor · 1 January 2007Program administrator and insurance provider to non-profit and social service agencies across the United States. Part of the Ballator family of companies providing specialized coverage to non-profit sector.
• World Risk ManagementcoreChannel Partner/ Reseller/ Distributor · 1 January 2007Exclusive broker and program manager for Public Risk Management of Florida (PRM), a public entity pool insuring approximately $2 billion in Florida property exposures.
• First Florida Insurance BrokerscoreChannel Partner/ Reseller/ DistributorRetail agency focused on public entities and non-profits with access to various premier programs in the public entity and non-profit arena.
• Libertate Insurance ServicescoreChannel Partner/ Reseller/ DistributorIdentifies inherent risk within client's workplaces and follows identification by either placing or creating an insurance mechanism to effectively manage the risk.
• Community Services Insurance Program (CSIP)coreChannel Partner/ Reseller/ DistributorInsurance program for non-profit organizations, developed by Non-Profit Insurance Services. Recognized with Business Insurance Magazine Wholesale Brokerage Team of the Year award in 2021.
• Florida Insurance Trust (F.I.T.)coreChannel Partner/ Reseller/ DistributorFlorida Insurance Trust provides insurance pooling opportunities for members. Ballator handles accounting and operations for F.I.T., and is developing a health insurance captive for members.
• Public Risk Management of Florida (PRM)coreChannel Partner/ Reseller/ DistributorPublic entity pool insuring approximately $2 billion in Florida property exposures. World Risk Management serves as exclusive broker and program manager.
• Accretive CompminorStrategic or Co-development PartnerWorkers Comp Solutions partner within the Ballator ecosystem providing specialized workers compensation solutions.
• Accretive Specialty (Parent Organization)coreStrategic or Co-development PartnerBallator Insurance Group is part of Accretive Specialty. Justin Wiley is responsible for developing new programs and capabilities for Ballator and its parent organization, Accretive Specialty.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Amwins Group: Largest specialty wholesale distributor in the U.S. with deep program-management capabilities. Overlaps with Ballator's specialty and program business but operates at far greater scale across many more verticals and geographies.
• Acrisure: Large, rapidly growing insurance brokerage with significant specialty program capabilities and a roll-up strategy of smaller specialty firms. Comparable as a parent-style platform aggregating niche insurance businesses, though operating at materially greater scale.

Direct peers

• Burns & Wilcox: Specialty wholesale brokerage and managing general agent serving niche industries with surplus and specialty lines. Comparable in its verticalized, program-driven approach and reliance on carrier relationships to deliver non-standard products.
• Brown & Riding Insurance Services: National specialty wholesale brokerage focused on niche and hard-to-place risks. Closely comparable to Ballator's program-management model, building dedicated practices around underserved industry verticals rather than competing on generalist scale.
• RPS (Risk Placement Services): Specialty wholesale broker and program manager focused on niche industries. Comparable to Ballator in building dedicated industry verticals and proprietary programs rather than competing as a generalist retail broker.
• Heffernan Insurance Brokers: Mid-sized specialty insurance brokerage with dedicated practice areas for non-profits and public entities. Closely comparable to Ballator's non-profit and public-entity verticals (NPIS and First Florida).
• Worldwide Facilities: National wholesale insurance brokerage focused on specialty commercial and professional lines. Comparable in its niche-vertical specialization and carrier-relationship-driven placement model.
• One80 Intermediaries: Specialty brokerage platform built through roll-up of niche wholesale and MGA businesses. Comparable in its emphasis on specialty verticals, program management, and reliance on data and analytics to underwrite non-standard risks.
• Nonprofits Insurance Alliance Group: Liability insurer and risk pool serving non-profits nationally, including through affiliated risk retention groups. Comparable to Ballator's Non-Profit Insurance Services (NPIS) and CSIP in pooling, mission alignment, and non-profit specialization.
• CRC Insurance Services: Wholesale brokerage and program manager focused on specialty commercial lines. Comparable in its specialty-only distribution model and emphasis on building dedicated industry verticals with carrier partners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/2536200

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries5 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 Ballator Insurance Group