GUIDANCE FOR GROWTH

The right professional liability protection can not only protect your firm, but help it develop organized, effective operations. Professional Agencies Reinsurance, Ltd. (PAR) has been guiding the best firms in the insurance business toward safe, profitable growth since 1986.

Some Errors & Omission providers simply give you basic coverage to encompass any claims which might arise. PAR believes striving to eliminate E&O claims all together is better. Our pro-active approach empowers firms to establish programs that not only reduce errors, but also create new areas of operational efficiency.

As a captive carrier, our insureds are also our shareholders. Our program is carefully established and reviewed at every participating brokerage and all shareholders reap potential additional annual returns and dividends beyond the operational savings they've already achieved.

If your firm is ready to realize its full potential, PAR is ready with a unique, multi-tiered approach you won’t find anywhere else.

Grow Smart. Get PAR.

THE BASICS

Proven E&O coverage is a given.

We begin with superior policies that are fully researched and developed:

• Three year, bilateral, extended discovery options
• Automatic defense of fraudulent or criminal act claims
• Automatic coverage for newly acquired or formed entities
• Redefinition of duties in the event of an act or omission error so that you avoid potential late-notice penalties
• Coverage extension for the specific employment of legal counsel

Our primary limit thresholds:

• $5 million per claim/$5 million aggregate
• $5 million per claim/$10 million aggregate
• $10 million per claim/$10 million aggregate
• $15 million per claim/$15 million aggregate

Additional Policy Features Available:

• Insurer insolvency coverage
• Full Prior acts protection
• Pure claims-made forms

THE BENEFITS BEYOND COVERAGE

Quality Management Program (QMP)

This is the cornerstone of our unique, multi-tiered approach. It’s based on the belief that every firm requires a tailored department-by-department approach to reducing E&O concerns. At the same time, it serves as a vital resource for organizations as they create sales plans, client service systems and operational guidelines.

PAR’s Quality Management Program is based on the premise that in order to truly prosper, “quality” must be integrated into every aspect of a firm’s culture and permeate every action and client touch point--from initial needs assessment, through regular account servicing and risk assessment. It is an ongoing, evolving process.

Within 90 days of becoming a PAR insured and on an annual basis thereafter, your firm will be visited by our quality management team. Their charge is to give senior level staff the resources necessary to provide:

• On-going employee education about E&O claims and how to prevent them
• A thorough review of the QMP and its applications at your own firm
• Identification of potential issues and suggestions for improvement

The entire QMP program is adapted to fill the needs of each insured as it directly impacts day-to-day operations—PAR is not merely a coverage document that sits on a shelf. Rather, it is a blueprint for improving every department’s workflow, procedures and processes—making each more efficient and less error-prone.

In addition, PAR provides these valuable resources and learning tools:

• PAR Idea Center and Surveys—allows PAR insureds to communicate and share information through a secure on-line forum.
• Property & Casualty and Benefits & TPA Guides—helps firms establish protocols.
• Monthly Claim Stories—tutorials on avoiding E&O claims.
• Industry Articles and Officer Letters delivered quarterly to highlight latest trends and news.
• An annual User Group Meeting with timely presentations, discussion and the opportunity to network with other PAR insureds.

Resolution-Focused Claims Management

If your firm does face a claim, you won’t face it alone. Your Fireman’s Fund claims management team will quickly provide support and guidance including:

• an objective evaluation of the claim
• a review of all possible resolution options
• assistance in finding appropriate legal counsel if needed

Claims Management Expertise

Your assigned claims management team is subject to strict internal guidelines, regular performance audits and expectations for on-going industry training. In addition, Firemen’s Fund home office completes regular reviews of claims to ensure that they are properly managed.

Networking Opportunities

PAR insureds find great value in the professional relationships formed with other like-minded leaders. You’ll gain valuable insight from other growth-oriented firms at our annual User Group Meeting, via on-line contact in our password-protected website and though additional organization outlets.

Return on Investment

We’re extremely proud of our 90% insured retention rate and believe it’s a testament to the value we provide.

Our experience shows that once a firm has been in the program three years or more, they reap the following proven benefits:

• Greater productivity and staff efficiency created by streamlined workflows and procedures and better defined roles and responsibilities.
• Increased client retention rates
• Improved communication between all employees and departments
• Expanded cross selling through upgraded risk assessment and exposure analysis
• Reduced E&O losses
• Stronger deductible management

In addition to the savings realized by reduced E&O claims and improved efficiencies, your firm stands to gain even more through potential increased stock values and dividends. The following charts illustrate our financial performance and dividend returns.

PAR Financial Performance

(note: past prformance is not a guarantee of future results.)

PAR Dividend History

Since PAR’s inception, we’ve paid out the following totals per share:
$53.43 in cash dividends.