Breaking Into Middle Market-Brokerage: A Q&A with Head of Underwriting Lindsey Burton

About Lindsey Burton

Lindsey joined Pathpoint this year as the Head of Underwriting, bringing new energy and excitement to Small Binding and expanding the new Middle Market-Brokerage division. Lindsey brings over 15 years of Brokerage experience to Pathpoint, spending five years at Risk Placement Services (Area Senior Vice President/Underwriting Manager). She holds CIC, CRM, and CISR designations and serves as Director on the Texas Surplus Lines Association (TLSA).

Why agents need Middle Market‑Brokerage

Excess and Surplus (E&S) is evolving fast. Property markets are finally softening, but general liability remains stubbornly hard—especially for construction and real estate risks. Rising material costs, higher property values, more complex projects, and the continued drumbeat of nuclear verdicts are pushing more accounts past Small Binding and into the world of Middle Market and Brokerage.

To unpack what this means for agents—and how Pathpoint’s new Middle Market‑Brokerage capability gives you a way forward—we sat down with Lindsey Burton, Pathpoint’s Head of Underwriting, to provide context and takeaways for new and the most experienced commercial agents to take away with them.

"Admitted carriers are still cautious about underwriting GL risks. That combination continues to push more accounts into E&S"

Let’s start with the state of the market. What trends are you seeing?

In some geographies and occupancies, property is softening compared to 2023–2024, but it’s not uniform. Capacity is selective, and carriers still care deeply about construction type, distance to coast, age of roof, and the quality of the schedule of values. While we’re optimistic about the softening market, as more admitted carriers are looking to offer reduced premiums for property risks, it’s not 100% across the board. Every region paints a different picture for property. General liability remains in a hard market.

Why is GL still hard?

Several forces keep GL tight: inflation, higher construction costs and valuations, more high‑hazard activity, and a legal environment that continues to produce nuclear verdicts (jury awards over $10M). Admitted carriers are still cautious about underwriting GL risks. That combination continues to push more accounts into E&S. Increasingly, we are seeing the need for bespoke terms, leading to accounts being moved outside of Small Business or Binding Authority and into Middle Market-Brokerage territory.

Speaking of that, insurance is a funny little world, where definitions change between companies. How would you best describe “Middle Market” and “Brokerage” to agents?

Yes, terms can definitely vary between carriers. I like to think of it as traditionally, Middle Market refers to accounts with $10 million–$1 billion in annual revenue. Think of your smaller franchises or your hotel properties in urban spaces. These businesses need coverage that’s more tailored than a typical small business policy but not as bespoke as a Fortune‑level risk, say your brand-name companies or hotel chains.

Now Brokerage is the model where an intermediary (a wholesale broker or brokerage team) markets a client’s submission to multiple insurers, representing the insured’s interests to secure the best available terms.

We see Light Brokerage thrown around. What is the difference between regular and light Brokerage? Is it Light Brokerage, the diet version of Brokerage?

Haha, not quite! Think of Light Brokerage as a streamlined submission path, with some carriers providing appetite for lower‑hazard, lower‑complexity, or moderately sized accounts. It still sits outside fully delegated binding authority (instant quotable or small business), but underwriting and documentation are simplified so qualified risks can move faster than Middle Market or Brokerage. With Light Brokerage, even light submission workflows are non-integrated.

Non-integrated? What is that?

So, there are two types: integrated and non-integrated. It’s all about the technology and workflows that wholesalers or Managing General Agencies (MGAs) use. Integrated brokerages operate on centralized technology, standardized processes, and unified management (often following M&A), which enhances scale and efficiency. That’s like Pathpoint (but for small binding), as submissions are quoted and bound through a single portal. Non-integrated brokerages operate more independently, with decentralized decision-making and varied systems, which can add flexibility and local nuance. Middle Market and Brokerage companies typically operate in a non-integrated fashion, due to the complexity and the need to find coverage.

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📙 Terms at a Glance

Middle Market — Defined

Typical revenue band: $10M–$1B.
Needs: tailored policies, broader terms/limits than small businesses; not as expansive as large multinationals.

Brokerage & Light Brokerage

Brokerage: an intermediary that shops coverage across markets, compensated by commission/fees.
Light Brokerage: faster, lighter‑touch underwriting for select lower‑hazard risks outside small binding.

Integrated vs. Non‑Integrated Brokerage

Integrated: unified technology/processes, centralized decision‑making, efficiency at scale.
Non‑integrated: independent branches/systems, decentralized authority, often more localized flexibility.

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"Agents don’t want a dead end when binding declines—they want someone to work the account. "

What’s driving more risks out of Small Binding Authority, aka the instant‑quote range?

Rising materials and labor, larger projects, and more contractual requirements mean bigger exposures. Many otherwise routine accounts now exceed revenue/payroll thresholds or need manuscript endorsements. Agents don’t want a dead end when binding declines—they want someone to work the account. That’s exactly why we expanded this capability at Pathpoint.

What’s the agent experience at Pathpoint?

You start in our integrated portal as usual at Pathpoint.com. Log in and submit in minutes. Just as the Advisory Tool indicates a submission is instant quotable, referred to, or declined, agents will see a live appetite indicator in the flow: a blue advisory message that flags Middle Market‑Brokerage eligibility.

Agents can opt in or decline pursuing the Brokerage right there. If they opt in, our team engages carriers while the agent can move on to other accounts. Agents will get a confirmation in-app that the account is being reviewed, and our underwriting team will reach out directly if more details are needed before they start shopping or brokering.

How is this different from a classic brokerage situation?

Historically, Middle Market or Brokerage are non‑integrated and slow: email applications, spreadsheets, multiple attachments, and lots of duplicative questions across carriers. Status chasing is half the job.

How is Pathpoint’s approach better?

We streamline it in three ways:

Unified intake: One submission in the Pathpoint portal (no rekeying).
Smart routing: We try Small Binding Authority first; if declined, we open Middle Market‑Brokerage options across more carriers.
We shop it for you: Our underwriting team takes the file and markets it—agents can work other accounts while we handle the back‑and‑forth.

What makes a strong Middle Market‑Brokerage submission?

Great question — a solid Middle Market-Brokerage submission really comes down to a few key things.

First off, we’re usually looking for accounts with premiums between about $10K and $250K, and total insured values (TIV) in the $5–$10 million range. Old Republic can stretch higher for the right risks, but that’s the general sweet spot.

Loss history is another big one — ideally, losses should be under 50% over the past 3–5 years. That said, we’ll still look at accounts above 50% if there’s clear evidence that the issues have been addressed (for example, if it’s not an ongoing frequency or severity problem).

Timing also matters a lot — it’s best to submit 30–60 days before the effective date. That gives enough runway to market the account and secure the best carrier terms properly.

When you send the submission, include the requested lines (GL, Property, Excess, etc.), along with current and desired limits, deductible or SIR preferences, and any special coverage needs like cyber or inland marine. If there are any mandatory endorsements, flag those too. And for larger property schedules, always include SOVs and details on key risk controls — that helps underwriting move faster.

Let’s apply a real agent example. A contractor renewal has just jumped in payroll and includes a condo project. Instant quote declined. What should an agent do?

Opt in to Middle Market‑Brokerage right in the portal. We’ll aim first at construction‑friendly markets (e.g., Baleen, West Congress, LIO) and tailor deductibles/SIR or endorsements to match lender/GC requirements. You’ll get progress updates while we market.

What about a 700‑unit habitational schedule with mixed occupancy? Where does that fit?

LRO GL appetite has expanded. Depending on state and schedule quality, we’ll consider WSG up to 1,000 units or C&F up to 500—and we’ll evaluate property separately based on TIV, protection class, and updates.

If you were an agent today, why would you come to Pathpoint for Brokerage?

Because we make it simple. With one submission, you get more options—you can bind first, then move into Brokerage, all without starting over. We know speed matters, so our team actively works the account while you keep your focus where it belongs—on your pipeline. You’ll also get clarity from the start with live appetite signals and an easy in-flow choice to pursue or decline. No mystery, no wasted time.

How to get started

Submit in the portal like you usually would. If binding declines, watch for the blue Middle Market eligibility message.
Opt in to allow Pathpoint to market to you. Decline if you don’t want us to pursue—your choice is reflected immediately.
Respond to any quick follow-ups from our underwriters so we can move quickly with carriers.
Stay in your workflow—Pathpoint will shop it while you handle other accounts.

Want to learn more? Attend our Middle Market-Brokerage Review on Wednesday, October 22, 2025, to see live examples and tips. Register today!