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Loss and Loss Adjustment Expense Reserves
Amount of an insurer's liabilities for claims that have not yet been settled. If this reserve amount grows sharply in comparison to the insurer's surplus, the risk increases for potential reserves deficiency, meaning the insurer could ultimately be unable to pay future claims.
Insurance Industry News from ProgramBusiness.comDistinguished Programs Renews
The Distinguished Programs has renewed their ProgramBusiness Storefront lease for another year.
According to Jim Tesoriero, Marketing Director, "Simply put, we're program developers, managers, and distributors. We create property/casualty insurance programs that produce buying power for their participants - leverage that gets them better coverage and lower rates as group members than they could ever get individually. We distribute all of our programs through a nationwide network of retail insurance brokers."
Jim went on to say, "Our customers are insurance agents/brokers. They are the channel we rely on for the distribution of our products. We provide the information, service and tools they need to excel in the delivery of risk management solutions to their customers. Our agents and brokers typically serve a wide range of clients - from global, national and middle market organizations to small businesses and individuals. The customer segments we focus on are businesses with between $3 and $25 million in revenue with 10 to 100 employees who pay $10,000 to $100,000 a year for property/casualty insurance."
For more information visit the Distinguished Programs storefront at http://www.programbusiness.com/tracking/sftracker.asp?SFid=144.
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