ELKO – For the second consecutive year, LP Insurance Services Inc. joined an elite group of independent insurance agencies in the U.S. that participated in an Independent Insurance Agents & Brokers of America study group to be named a “Best Practices Agency.”
“I believe that this a positive thing for our customers and community as we can offer a choice of polices from a variety of insurance companies which will allow for the best markets and coverages available,” said Trinity Steelman, vice president and sales executive of LP Insurance Services’ Elko office at 555 W. Fifth St. “We also have a staff that is professional, knowledgeable and informed to provide our community with the information that they need to insure all aspects of their life.”
Each year, IIABA and a consulting firm study the country’s leading agencies in six revenue groups. The named agencies are awarded a Best Practices Agency designation. The selected agencies retain their status during a three-year cycle by submitting extensive financial and operational data for review each year. This year’s agencies were announced Sept. 25.
Steelman explained that agencies must be nominated and then submit detailed financial and operations information to be analyzed, scored and ranked on the basis of operational excellence including growth, profitability, productivity and financial stability.
“We are extremely proud of our Best Practices Agency designation for the second year in a row,” said Nick Rossi, president of LP Insurance Services. “To continue be a part of this amazing group is an honor.”
More than 1,500 independent agencies throughout the U.S. were nominated to take part in the annual study, but only 262 agencies qualified. To be chosen, the brokerages must be among the top-performing agencies (top 35-45) in one of six revenue groups. LP Insurance and the other top performers were all nominated by either an IIABA-affiliated state association or an insurance company and qualified based on operational excellence.
“LP Insurance strives to be recognized and respected as the foremost brokerage in the western U.S.,” said Joe Wyatt, chief operating officer at LP Insurance Services. “This praise continues to show how well we’re serving our clients – by being the best in the business.”
The Best Practices Study was initiated by IIABA in 1993. The annual survey and study of leading independent insurance agencies documents the business practices of the highest-performing agencies.
Founded in 1896, IIABA is a national association of independent insurance agents and brokers, representing a network of more than 300,000 agents, brokers and their employees nationwide.