Background
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.