Peter M. Polstein

Peter Polstein writes on market practices for IRMI.com.

Mr. Polstein has been active in the insurance industry since 1955. He spent his early years with three midsize insurance brokers in New York City, gaining a reputation for brokering unusual or difficult risks. In 1973 he joined Alexander & Alexander’s New York City office.

In 1995, Mr. Polstein retired from Alexander & Alexander as a senior vice president. During his tenure he was responsible for the development of a separate department whose sole purpose was the production and underwriting of national trade groups. He was one of the first brokers to author and sell individually underwritten groups, providing coverage for commercial liability including products liability and excess liability, with heavy emphasis in the chemical, heavy machinery, and marine industries. He grew the operation to 15 major trade associations with several thousand clients. In 1984, he became the deputy managing vice president of the New York City office, with the overall responsibility of the property, casualty and financial services departments.

Later in his career, Mr. Polstein managed one of the largest books of business in the office where the majority of the accounts were considered to be difficult, requiring creative brokering techniques and the use of nontraditional marketing. Additionally, he was responsible for a number of in-depth risk management audits for several Fortune 500 clients.

After his retirement, he was involved in the formation of an offshore reinsurance company. Additionally, he served as consultant to a number of industries where his knowledge of interdisciplinary applications and his technical expertise were assets.

Mr. Polstein graduated from Nichols College in Massachusetts, and served in the U.S. military from 1952 to 1955.

Articles on IRMI.com

Insurance Industry: Market Practices

Insurer Financial Security Is Not a Rating (June 2008)

Insurance Industry Sings the Back Door Blues (March 2008)

Risk Management Assessments and Peer Reviews (December 2007)

Is an Umbrella Just a Bumbershoot? (September 2007)

The Winning Team Concept (June 2007)

Is Offshore That Far from Shore? (March 2007)

Ho, Ho, Ho, and Say Good-Bye to 2006 (December 2006)

Is There a Reinsurance Paradigm? (September 2006)

Where Is the Market Going? (June 2006)

What To Do about Catastrophic Loss (January 2006)

Understanding Coverage from Dawn's Early Light (December 2005)

Marketplace Blues (September 2005)

Retrospective Rating Alternative (July 2005)

It’s 2005—Do You Know Where Your Market Is? (March 2005)

Finite Insurance: Is the Criticism Warranted? (December 2004)

Medical Malpractice: Things To Consider (October 2004)

Little Things Mean a Lot (May 2004)

Loss Forecasting/Submissions (March 2004)

Excess Follow Form versus Umbrella (December 2003)

Certificates of Insurance (September 2003)

Thinking Outside the Box (July 2003)

Binders and Confirmation (May 2003)

Considering Alternative Risk Transfer (February 2003)

Insurance Coverage Specifications in the Hard Market (December 2002)

What Constitutes a Full Underwriting Submission? (October 2002)