Abacus Insurance, National Specialty Underwriters Recognized for Best Practices

The Target Markets Program Administrators Association (TMPAA) based in Wilmington, Del., awarded two of its member agencies – Abacus Insurance Brokers Inc. and National Specialty Underwriters – the Association’s Best Practice Designation.

TMPAA’s Best Practice Evaluation is one element of the association’s mission to promote excellence for its most elite segment of insurance intermediaries, program administrators/managing general agents by evaluating the program business operations through an application survey, onsite evaluation/consultation and committee review. Participation in a Best Practice evaluation encourages applicants to review their current level of functioning, look for greater efficiencies the way they currently do business and be recognized by program business professionals as a “best in class” operation, according to the association.

“It is a testament to the talent, tenacity and creativity of our members, that the vast majority have not just survived these troubled times, but have in fact grown and improved their operations,” said TMPAA President Bill Kronenberg, at TMPAA’s Ninth Annual Summit in Scottsdale, Ariz., while recognizing the companies. “The Best Practice Designation showcases our members who function at the highest levels of this industry segment and have demonstrated their expertise in Program Administration.”

Darren Lewin, vice president of programs at Abacus Insurance Brokers, said his company welcomed the opportunity for Target Markets to rigorously review and validate its strategies, controls, overall operations and ongoing efforts to advance specialty programs online. “As an online program manager, it’s imperative that our controls and procedures are of the highest quality and continually surpasses industry standards,” he said.

Chris Randall, president and CEO of NSU, said, “Two of the major tenants of NSU’s long-term strategic plan are to continuously develop program expertise, and to clearly define business practices that distinguish us from competitors. We set out three years ago to implement best practices at NSU. The TMPAA evaluation process gave us an outside set of eyes to evaluate the progress we’ve made and validate that we are on the right track.”

The Association’s Ninth Annual Summit was attended by more than 600 program business professionals including the groups 52 program carriers. Steve Wozniak co-founder of Apple Computers, provided the meeting’s keynote presentation, with Marsh & McLennan President and CEO Brian Duperreault providing a state of the industry address.

The Target Markets Program Administrators Association’s Mid Year Meeting is scheduled for April 12-14, 2010 in Baltimore, Md., with keynote speaker, Gen. Colin Powell (Ret.), and industry speaker W. Marston (Marty) Becker, chairman and CEO of Max Capital Group.
For more information about the TMPAA Best Practice Designation or the Association, visit www.targetmarkets.com.