Insurance Business America (IBA) has released its 2025 list of top-performing program administrators and carriers in the US.
The insurance program sector is experiencing notable growth, with program administrators and carriers responding to new challenges by prioritizing adaptability, investment in technology, and robust risk management. Compliance and sustainability remain central to their strategies as they navigate shifting exposures and regulatory expectations. Industry leaders are focusing on specialization and long-term planning, with many organizations enhancing their data capabilities and refining underwriting practices to support scalable growth.
These efforts are reflected in the continued expansion of the program business segment, which, according to discussions at the Target Markets Program Administrators Association Mid-Year Meeting 2025, is outpacing growth in non-program commercial insurance.
IBA’s selection process for the fifth annual 5-Star Program Administrators and Carriers list began with a call for nominations in April.
Candidates were evaluated on factors such as program size, expertise, stability, and innovation in program development. Feedback from program administrators played a key role in identifying leading carriers.
Carriers were rated across 10 categories on a scale from 1 (poor) to 5 (excellent).
Those achieving an average score of 4 or above were recognized as 5-Star Award recipients.
Among the organizations recognized this year are:
The full list of honorees can be found in the 5-Star Program Administrators & Carriers 2025 special report.
