Private Replacement Variable Life (PPVL) Definition
The cash value and in some cases the death benefit in this Life insurance policy will vary based on the underlying portfolio's investment performance. The insurer must be approved to distribute this product in the respective state and the product must be approved for distribution in order for this policy to be sold in any state.
Storefront owner Allied Insurance Brokers has been recognized as a recipient of the PAR Excellence Award from Professional Agencies Reinsurance, Ltd. (PAR), a premium errors & omissions captive with a 22-year history. This Award is given annually to agencies and brokerages which have demonstrated complete adherence to the captive’s proprietary “Quality Management Program”.
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“The Quality Management Program (QMP) is unique to PAR and provides a framework for procedures and operations which have led to demonstrated reduction in E&O claims,” explained Joe Rieman, CPCU, Vice President, Quality Management. The QMP involves such items as following suggested procedures, including the yearly utilization of exposure checklists or questionnaires, and thorough documentation.
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“It is an extremely rigorous Program, yet firms know the guiding principles aren’t just ‘pie-in-the-sky’ ideals—they’re based on real life experience and input from the captive founders: Fireman’s Fund, Assurex Global (the world’s largest independent insurance brokerage), and other industry pioneers. The firms which won this year’s PAR Excellence Award understand the value of the Program, and they’re willing to apply themselves to achieve each standard. It’s not easy, but the payoff to the firm is substantial,” explained Rieman.
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Only 19 agencies in the United States won The PAR Excellence Award for 2007.
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As Marty O’Brien, President of Allied Insurance Brokers, explained, “PAR ensures that we do things right the first time and always operate in the best interest of the client. This award is a real testament to our commitment to consistency and high standards on every account. We’re extremely proud to have been recognized.”
group health insurance florida“The winners, including Allied Insurance Brokers, have shown a real commitment to reducing their E&O claims--which certainly benefits their bottom-line--but also gives their clients a real sense of security, knowing that their best interests are being tended to not just when policies are placed, but again and again with each checkpoint along the way,” said Curt Anderson, PAR Alternate Director.
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For more information about Allied Insurance Brokers, visit their storefront at www.programbusiness.com.
About Allied Insurance Brokers, Inc.
Founded in 1982, Pittsburgh-based Allied is a nationwide niche property & casualty insurance broker focused exclusively on serving the equipment rental and party goods, scaffold, crane, wood products industries and human services organizations. This focused approach creates a wealth of benefits for their clients. As a full-service organization, Allied offers wholesale insurance for independent agents and brokers and in-house underwriting capabilities.
About PARProfessional Agencies Reinsurance, Ltd. (PAR) is an agents’ errors and omissions facility initially developed through the cooperative efforts of Assurex Global and The Council of Insurance Agents and Brokers. PAR is underwritten by Fireman’s Fund Insurance Company. Our Program currently insures 24% of the 100 largest brokers of U.S. business, as listed in Business Insurance.