Amalgamated Insurance Underwriters

What Amalgamated Insurance Underwriters does

Amalgamated Insurance Underwriters (AIU) is a privately held E&S (Excess & Surplus) insurance program administrator and specialty property underwriter founded in 2015 in Montvale, New Jersey. The company underwrites hard-to-place commercial property risks that do not qualify for standard market coverage, focusing on five product lines: Habitational Property, Hospitality Property, Healthcare Property, X-Wind Property, and Violent Attack coverage. AIU insures more than $10 billion in Total Insured Value annually and operates across all 50 U.S. states through a 30+ carrier capacity structure of A-rated domestic and London-market insurers, distributing exclusively through appointed retail and wholesale insurance brokers.

The company's core technology is its proprietary shared-limit insurance strategy originated by President Mervyn Klein, which combines multi-carrier paper to deliver blanket limits up to $1B per occurrence with no coinsurance and automatic inclusion of perils standard policies exclude (flood, earthquake, sewer backup, equipment breakdown, violent attack). AIU does not disclose a proprietary digital underwriting platform; the company operates an in-house underwriting team supported by a website-based instant quote tool that returns indications within 5 minutes and binds coverage in as little as 24 hours (same-day for emergencies). Risk management and claims handling are run through a top-rated external claims partner.

AIU generates revenue from E&S insurance premiums administered through its broker and carrier network, with pricing structured per location by product line (e.g., $6M minimum TIV for Habitational, $4M for Hospitality, $5M for Healthcare) under multi-year contracts. The go-to-market is channel-only: brokers are appointed after a producer agreement and submission review, then supported with rapid quoting, two-document renewals, and risk management services. The company reports renewal retention above 80% and has scaled the team to approximately 20 named employees across underwriting, sales, operations, claims, compliance, and development under Managing Partner Ben Goldberg, President Mervyn Klein, and Partner Brian Finkelstein.

Name

Amalgamated Insurance Underwriters

Legal name

Amalgamated Insurance Underwriters, LLC

Website

https://aiu-usa.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Montvale

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. E&S Insurance Premiums: AIU generates revenue by underwriting hard-to-place commercial property risks through a network of 30+ A-rated domestic and international insurance carriers. They act as a program administrator, developing and managing specialized insurance programs for non-standard property risks. Revenue is derived from insurance premiums collected from policyholders through broker partnerships.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

AIU is an Excess & Surplus (E&S) lines program administrator that develops, underwrites, and manages specialty commercial property insurance programs for hard-to-place risks — Habitational, Hospitality, Healthcare, X-Wind, and Violent Attack. It distributes exclusively through appointed retail and wholesale insurance brokers, leveraging capacity from 30+ A-rated domestic and international carriers to offer blanket limits up to $1B.

Product overview

Amalgamated Insurance Underwriters (AIU) is an E&S (Excess and Surplus) insurance company specializing in hard-to-place commercial property risks. The company operates as a unified platform offering five specialty insurance products: Habitational Property, Hospitality Property, Healthcare Property, X-Wind Property, and Violent Attack Insurance. These products share common features including broad peril coverage, blanket limits up to $1B, and enhanced protections that standard policies typically exclude (flood, earthquake, sewer backup, ordinance or law coverage). The company also provides risk management services as a complementary offering. AIU serves retail insurance agents and brokers through partnerships with 30+ A-rated domestic and international carriers, enabling coverage for properties that don't fit standard market criteria.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• $10B+ TIV insured annually
• +5 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles1 record

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered minor and core.

• Target Markets Program Administrators AssociationminorOthersAIU's Managing Partner Ben Goldberg is a member of the Target Markets Program Administrators Association, an industry organization for program administrators in the insurance sector.
• Wholesale & Specialty Insurance Association (WSIA)minorOthersAIU's Managing Partner Ben Goldberg is a member of WSIA, the Wholesale & Specialty Insurance Association, which represents wholesalers, reinsurers, and program administrators in the E&S insurance market.
• Top-Rated Claims PartnercoreStrategic or Co-development PartnerAIU uses a top-rated claims partner for fast, fair claim settlements. Claims can be filed through the website portal or via email to [email protected], with claim numbers assigned and outreach provided upon receipt of required documentation (Acord Notice of Loss, photos, estimates).

Scale indicators9 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Imperial PFS: Program administrator focused on habitational and commercial property E&S risks, including hard-to-place and coastal exposures. Closely comparable niche property specialization and broker-only GTM.
• SkyCover Insurance: Program administrator specializing in habitational and hospitality property E&S coverage through retail brokers. Comparable niche focus on hard-to-place property risks and broker-only distribution.
• AmRisc: E&S commercial property MGA specializing in coastal and catastrophe-exposed habitational, hospitality, and commercial property. Directly comparable to AIU on target classes, broker distribution model, and reliance on capacity partners.
• Velocity Risk Underwriters: Specialty E&S property MGA focused on habitational, hospitality, and middle-market commercial property through wholesale brokers. Closely comparable in product mix, broker distribution, and capacity-provider model.
• Pacific Specialty Insurance Company: E&S property carrier serving habitational and commercial property risks through wholesale brokers. Comparable product class, broker distribution, and hard-to-place risk focus.

Broad incumbents

• Swett & Crawford: Long-standing wholesale insurance broker placing E&S property and casualty coverage for retail agents. Comparable wholesale/broker intermediation role in placing hard-to-place risks.
• RPS (Risk Placement Services): National wholesale insurance broker and program administrator with broad E&S property offerings. Comparable wholesale/broker-facing distribution and specialty property underwriting focus.
• Burns & Wilcox: Large U.S. wholesale insurance broker specializing in E&S placement across property, casualty, and specialty lines. Comparable as a wholesale distribution channel reaching retail brokers seeking hard-to-place capacity.
• CRC Insurance Group: Major wholesale insurance broker with specialty property programs serving retail agents nationwide. Overlapping E&S property placement capabilities and broker-distribution model.
• Westchester (Chubb E&S unit): Chubb's surplus lines underwriting arm writing E&S property for habitational, hospitality, and middle-market commercial. Comparable property E&S appetite, but with carrier balance sheet and broader portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Amalgamated Insurance Underwriters