Our "Why"
I spent most of my career in the commercial insurance business. I was in the portion of the industry that was referred to as Surplus Lines. I was a property insurance Wholesaler. This was the home for property risks that were undesirable or unplaceable for the ordinary insurance agent. When they had clients that needed this type of coverage they would come to us. These included the following types of coverage
- Flood Insurance In High Hazard Flood Zones
- Windstorm in high risk areas like Florida and Texas
- Frame construction for residential real estate
- Frame builder’s risks
This is not a comprehensive list, just an example.
While this was difficult work, it was very rewarding since it was not just run of the mill insurance.
The problem was, while it was exciting, it seemed like none of the people really appreciated what we did and how we did it. All our referring brokers looked at was the bottom line price and deductible. Half the time they didn’t even review the terms and conditions.
I was in a quandary, while I loved what I did, I really needed to find a way to feel better about it.
That was when I was introduced to the Alternative Finance Industry. What really drew me to it was the fact that it was a way to participate in an industry whose structure was exactly like what I had spent most of my career doing.
Like wholesale insurance, the alternate finance industry was the home for “distressed” accounts. Like wholesale insurance there were a whole litany of providers ready to take on these accounts. Like wholesale insurance I could take these types of accounts, tell their story better and present it to the providers and get a good result for them.
Unlike the wholesale insurance world, I wasn’t selling anything to these accounts. I was literally giving them things….money! I really liked the though of being able to truly help people in need. They would appreciate what I do for them.
I would finally be able to apply the skills I knew and be appreciated and respected for it. I am passionate about help small and mid size businesses survive and thrive. I am an entrepreneur at heart and this is the reason I started Highlands Alternative Capital Advisors.
Philip Moskie
Philip Moskie has been a member of the financial services industry for over 35 years. Having spent most of his time in the wholesale insurance arena involved in the creation of insurance programs for difficult to insure property insurance risks. After being exposed to the Alternative Capital Market Mr. Moskie realized the similarities between it and the wholesale insurance market. He decided to bring his talent to the Alternative Capital Market and form Highlands Alternative Capital.