Abacus Insurance Brokers, Inc. announced that United Agencies, Inc. and APM Platform (a subsidiary of Abacus) have signed an agreement for APM to co-manage and distribute an Equipment Floater arranged by United through Kemper Insurance Company on-line effective March 1, 2003.
“Distributing the equipment floater on the APM Platform will enable us to substantially grow our program in an automated, secure, online environment. APM has proven successful in growing programs and we look forward to similar success with our program,” Jeffrey Gelineau, vice president of United Agencies, commented.
“With this deal, Abacus is implementing its vision for the APM,” Darren Lewin, co-founder of the APM Platform, remarked. “The concept of the APM Platform is to provide an efficient and cost effective tool for managing programs of any MGA or program manager. The complete automation of the insurance process, coupled with an existing nationwide network of brokers, enables a program manager to substantially increase premium volume with minimal additional cost.”
Types of equipment that can be covered in this program include Editing & Post-Production equipment, Recording & Studio equipment, Sound & Location Recording equipment, Musical Instruments & Band Equipment, Camera & Production equipment, P.A. & Sound Reinforcement equipment, Rented equipment, Office Contents, and miscellaneous types of equipment. The Equipment Floater program is underwritten by Kemper Insurance with a cut-through endorsement from National Indemnity.