Insurance Business America has released its sixth annual 5-Star Program Administrators and Carriers report, identifying the top insurance carriers and program administrators (PAs) in the US based on evaluations from industry peers.
The 2026 report examines the role of program administrators in the US insurance market, where firms can operate with underwriting authority, develop specialized programs, and work with carriers that provide the capital supporting those programs.
The report assesses PAs based on areas including their largest programs, expertise, stability, and innovations in program development. Program administrators also provided feedback on the carriers with which they work, with that feedback used to determine the 5-Star Program Carriers.
Insurance Business America opened nominations for the sixth annual 5-Star Program Administrators and Carriers list in April. Nominees were evaluated on their achievements and initiatives across several areas, including the size of their largest programs, expertise and stability, and innovations in program development. For the carrier component, program administrators rated their carrier partners directly. Carriers were evaluated on a scale of 1 (poor) to 5 (excellent) across 10 categories. Carriers that achieved an average score of at least 4 were named 5-Star Award winners.
The methodology places program administrators and carriers within the same assessment framework while using feedback from the organizations that work directly with those carriers. For insurance professionals, that provides a peer-based view of carrier performance in the program market rather than relying solely on financial or market-share measures.
The 2026 report includes a range of program administrators and insurance organizations among its winners.
Featured winners include:
See the full list of winners, research findings, and industry insights by reading the sixth annual 5-Star Program Administrators and Carriers special report.
