M&P Specialty Insurance
M&P Specialty Insurance is a privately held, family-owned insurance brokerage headquartered in West Columbia, South Carolina, placing specialty insurance for 250+ enterprise customers across the Crane & Rigging, Steel Erection, Heavy Haul, House Raising, Structural Moving, Towing & Recovery, and Captive Placement industries.
- Company typePrivate
- Founded2006
- HeadquartersColumbia, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What M&P Specialty Insurance does
M&P Specialty Insurance is a privately held, family-owned specialty insurance brokerage headquartered in West Columbia, South Carolina, founded in 2006 by Dave McElrath and Jason McElrath. The firm places insurance coverage for high-hazard industries that most generalist carriers decline or underwrite poorly, with a focus on Crane & Rigging, Steel Erection, Heavy Haul, House Raising, Structural Moving, Towing & Recovery, and Captive Placement. Its stated customer base exceeds 250 enterprise accounts across all 50 U.S. states, with international placements in the Caribbean, South America, Canada, and Europe.
The product portfolio is built around industry-specific proprietary programs (e.g., Over the Road Coverage, Riggers Liability, Boom Overload, Third Party Loss of Use, Accidental Pollution, Damage to Your Work, single-trip transit policies up to $20M, umbrella limits up to $15–20M) coupled with standard carrier programs. Underlying technology is conventional brokerage infrastructure — a Vertafore client portal for policy access and AppliedPay for online premium payments — rather than proprietary technology. Value-added services include same-day certificate issuance, audit assistance, claim assistance, contract and rental ticket review, and experience modification planning and forecasting.
Revenue is generated on a commission basis from insurance carriers for placements, with pricing conducted on a per-customer quote basis reflecting industry, coverage, and risk profile; the multi-year contractual cadence supports recurring commission revenue. Go-to-market is enterprise field sales executed by four producers supported by seven account managers, complemented by deep engagement in the governing trade associations (SC&RA, SEAA, IASM, TASM, NEASM, MSHMA) and committee/board representation. The firm is licensed in all 50 states and operates with approximately 16 team members.
M&P Specialty Insurance firmographics
Firmographics- Name
- M&P Specialty Insurance
- Legal name
- M&P Specialty Insurance
- Website
- https://mpspecialty.com
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- M&P Specialty Insurance is a privately held, family-owned insurance brokerage headquartered in West Columbia, South Carolina, placing specialty insurance for 250+ enterprise customers across the Crane & Rigging, Steel Erection, Heavy Haul, House Raising, Structural Moving, Towing & Recovery, and Captive Placement industries.
- Ownership category
- akta.pro rank
M&P Specialty Insurance industry classification
Industry- Product category
- Specialty Insurance Brokerage
- NAICS
- Insurance Agencies and Brokerages (524210)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)
- akta.pro secondary industries
- Construction Specialty (Wrap-Ups/Builders Risk/Contractors) (FSAJAGAH), Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH)
Keywords
Where M&P Specialty Insurance is headquartered
LocationHeadquarters
- HQ city
- Columbia
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
M&P Specialty Insurance business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Insurance Placement/Brokerage Commissions: The company places insurance coverage for customers and earns commissions from insurance carriers. They offer proprietary programs alongside standard programs, providing a complete array of insurance possibilities to their customers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom insurance solutions tailored to each customer's unique requirements and risk profile. |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
M&P Specialty Insurance product offering
Product offeringCore offering
M&P Specialty Insurance is a specialty insurance brokerage that places commercial insurance coverage for businesses in high-hazard heavy industries, including Crane & Rigging, Heavy Haul, Steel Erection, House Raising, Structural Moving, and Towing & Recovery. The firm combines proprietary coverage programs with standard carrier programs to deliver a complete array of insurance possibilities, supplemented by service offerings such as same-day certificate issue, audit and claim assistance, contract review, and experience modification planning.
Product overview
M&P Specialty Insurance is a specialty insurance brokerage offering a unified platform of industry-specific insurance products for the Crane & Rigging, Millwright, Steel Erection, Heavy Haul, House Raising, Structural Moving, and Towing & Recovery industries. The portfolio includes six core industry-specific insurance products (Crane & Rigging Insurance, Heavy Haul Insurance, House Raising Insurance, Steel Erection Insurance, Structural Moving Insurance, and Towing & Recovery Insurance) plus Captive Placement Insurance as an alternative risk financing option. These are complemented by service modules including Same Day Certificate Issue, Audit Assistance, Claim Assistance, Contract & Rental Ticket Review, and Experience Modification Planning & Forecasting.
Differentiator
Problem solved
Functional benefit
Products and services
- Crane & Rigging Insurance Specialty commercial insurance coverage for crane rental and rigging operations, including Over the Road Coverage, Riggers Liability, Boom Overload, Third Party Loss of Use, Accidental Pollution, and Follow Form Excess; offered to Crane & Rigging companies nationwide.
- Heavy Haul Insurance Specialty insurance for oversize/overweight (OS/OW) transportation operations, including Inland Marine/Motor Truck Cargo coverage with limits up to $20 million and single trip transit policies; covers loads ranging from skid steers to space shuttles.
- House Raising Insurance Proprietary insurance program for house raising and house moving operations, including coverage for structures being raised out of flood zones; compliant in all jurisdictions and one of the largest broker offerings in the country for this class of business.
- Steel Erection Insurance Proprietary insurance programs for Structural Steel Erection and Precast Erection companies, covering Riggers Liability, Damage to Your Work, and Boom Overload exposures.
- Structural Moving Insurance Insurance coverage for machinery and structural moving operations, including General Liability, Auto, Inland Marine, Umbrella, Workers Compensation, Property, Third Party Loss of Use, and Cargo.
- Towing & Recovery Insurance Specialty insurance for towing and recovery operations covering Auto Liability and Physical Damage, On-Hook/Motor Truck Cargo, Garagekeepers, General Liability, Excess/Umbrella Liability up to $15 million, Workers Compensation, Pollution Liability, Cyber Liability, and Dealer Tag Liability; covers Light Duty wreckers through Twin-Steer Rotators.
- Captive Placement Insurance Captive insurance placement offering alternative risk-financing programs for construction, fabrication, manufacturing, and distribution companies with favorable claims experience, best-in-class safety records in high-hazard industries, or unique business risks seeking ownership and increased control of their Risk Management programs.
Companies that use M&P Specialty Insurance
Customer profileNamed customers7 records
Segments7 records
Ideal customer profiles2 records
M&P Specialty Insurance technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
M&P Specialty Insurance partnerships and signals
Strategic signalPartnerships
Nine partnerships are on record, tiered core, regional and minor.
- Specialized Carriers & Rigging Association (SC&RA)coreLongtime members of SC&RA. Active participation at annual conventions, educational sessions, committee meetings with emphasis on safety, risk management, regulatory and consensus standards, training, equipment maintenance, and current industry issues.
- Steel Erectors Association of America (SEAA)coreLongtime members of SEAA. Company leadership (Jason McElrath) has served on Insurance and Safety committees. Active participation in industry events and standards development.
- International Association of Structural Movers (IASM)coreMembers of IASM. Company participates in networking, educational sessions, and committee discussions at annual conventions focusing on industry standards and safety.
- Texas Association of Structural Movers (TASM)regionalRegional member of TASM serving the Texas structural moving industry with specialized insurance solutions.
- New England Association of Structural Movers (NEASM)regionalRegional member of NEASM serving the New England structural moving industry with specialized insurance solutions.
- Midstates Housemovers Association (MSHMA)regionalMember of MSHMA serving housemovers in midstates regions with specialized insurance programs.
- The Crane Institute CertificationcoreDave McElrath serves on the Governing Committee for The Crane Institute Certification for crane operators, riggers & signalmen. This involvement ensures company stays current on industry standards and certification requirements.
- The Crane Institute of AmericaminorMichael Beal has completed the crane operators' course through The Crane Institute of America, demonstrating specialized industry training and certification.
- Council of Litigation ManagementminorMichael Beal is currently serving on the Council of Litigation Management, participating in industry legal and risk management discussions.
Scale indicators5 records
Recent moves6 records
Expansion highlights5 records
M&P Specialty Insurance competitors and assessment
Company assessmentDirect peers
- Brown & Riding Insurance Services: Brown & Riding is a wholesale insurance broker focused on property, casualty, and specialty lines including construction, transportation, and excess placements. Comparable to M&P as a specialty brokerage serving commercial risks that standard carriers avoid.
- Burns & Wilcox: Burns & Wilcox is a specialty insurance brokerage focused on excess & surplus (E&S) and hard-to-place risks across personal and commercial lines. Directly comparable as a specialty wholesale/retail broker placing high-hazard and non-standard risks that mainstream carriers decline.
- Heffernan Insurance Brokers: Heffernan is a mid-sized independent insurance brokerage with strong specialty and construction practices. Comparable to M&P for serving commercial clients with non-standard risks and for its producer-driven, relationship-led model.
- RPS (Risk Placement Services): RPS is a specialty insurance broker and binding authority manager focused on E&S lines and complex placements. Comparable to M&P as a specialty intermediary that builds proprietary programs for niche industries and difficult-to-place risks.
- McGowan Companies: McGowan Companies is a specialty insurance program administrator and brokerage that places niche coverages for construction, transportation, and high-hazard industries. Comparable to M&P for its programmatic approach to specialized industry verticals.
- CRC Insurance Group: CRC Insurance Group is a wholesale specialty insurance distributor specializing in E&S and niche commercial lines. M&P shares the same model of placing specialized coverages for underserved industries via dedicated producers and carrier relationships.
Broad incumbents
- Amwins: Amwins is one of the largest specialty insurance distributors in the US, placing E&S and complex risks across many industries. M&P is differentiated by narrower vertical focus but operates the same specialty brokerage model at smaller scale.
- Lockton Companies: Lockton is a large global independent insurance broker serving construction, transportation, and specialty industries. It operates at much greater scale but overlaps with M&P's crane, heavy haul, and structural moving practices.
- Travelers: Travelers is a major P&C insurance carrier with significant specialty and commercial transportation practices. As a carrier rather than a pure broker, it is adjacent to M&P but influential because M&P places coverage with Travelers-class carriers for many of its standard lines.
- USI Insurance Services: USI is a large national insurance brokerage serving commercial and personal lines across many specialty verticals. It is a broader incumbent that competes for some of the same specialty construction and transportation accounts M&P serves.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights6 records
Customer concentration
M&P Specialty Insurance social profiles
Digital presenceM&P Specialty Insurance financial estimates
Financial estimateRevenue estimate
Valuation estimate
M&P Specialty Insurance leadership team
Management profileNumber of profiles
Profiles4 records
M&P Specialty Insurance funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
M&P Specialty Insurance 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 M&P Specialty Insurance
What does M&P Specialty Insurance do?
M&P Specialty Insurance is a specialty insurance brokerage that places commercial insurance coverage for businesses in high-hazard heavy industries, including Crane & Rigging, Heavy Haul, Steel Erection, House Raising, Structural Moving, and Towing & Recovery. The firm combines proprietary coverage programs with standard carrier programs to deliver a complete array of insurance possibilities, supplemented by service offerings such as same-day certificate issue, audit and claim assistance, contract review, and experience modification planning.
Is M&P Specialty Insurance a public or private company?
M&P Specialty Insurance is a private company. It is classified as family owned and is currently operating.
When was M&P Specialty Insurance founded?
M&P Specialty Insurance was founded in 2006. It employs 1 to 10 people.
Where is M&P Specialty Insurance based?
M&P Specialty Insurance is headquartered in Columbia, United States, in the North America region.
How does M&P Specialty Insurance make money?
One revenue line is on record: insurance Placement/Brokerage Commissions.
Who are M&P Specialty Insurance's main competitors?
Direct peers on record are Brown & Riding Insurance Services, Burns & Wilcox, Heffernan Insurance Brokers, RPS (Risk Placement Services), McGowan Companies and CRC Insurance Group. Broad incumbents are Amwins, Lockton Companies, Travelers and USI Insurance Services.
Does M&P Specialty Insurance have an API?
No public API is recorded for M&P Specialty Insurance.
What industry is M&P Specialty Insurance in?
M&P Specialty Insurance's product category is Specialty Insurance Brokerage. Its primary akta.pro industry code is FSAEADAJ, Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines), with a secondary code of FSAJAGAH, Construction Specialty (Wrap-Ups/Builders Risk/Contractors). Its NAICS code is 524210 and its SIC code is 6411.