The Professional Liability Underwriting Society (PLUS) was founded in 1986 by industry professionals who recognized the need for a forum in the field of professional liability. The organization's mission is to enhance the professionalism of its members through education and other activities and to responsibly address issues related to professional liability. It has grown from more than 300 members in 1989 to 3,714 members as of August of this year. Over the last five years, PLUS has shown double-digit percentage growth in each year, with a 17.5% rise in membership from 2,145 in 1996 to 2,520 in 1997. Membership grew by 20.2% to hit 3,030 in 1998; by 10.6% to 3,350 in 1999; and by 10.7% through the first eight months of this year. The members represent more than 1,000 companies active in the many fields of professional liability, including underwriters, brokers, risk managers, program managers, attorneys, claims examiners, and general agents. The organization has 221 corporate sponsors. This year's international conference in San Antonio, Texas, is expected to attract more than 2,000 participants.
PLUS introduced its Registered Professional Liability Underwriter (RPLU) designation in 1993, with the first exam held in March of that year. The first designations were awarded in 1994 to 29 people. To date, the total number of RPLU designees has been 544. The number of RPLUs this year thus far is 123.
The PLUS Foundation was established in 1997 and already has awarded its first research grant to Dr. William R. Feldhaus and Dr. Robert W. Klein of Georgia State University in Atlanta. They will be studying the macro-economic variables that drive professional liability insurance commerce. The Foundation's goal is to be the quintessential source of research and information regarding the professional liability insurance industry. It will: fund projects designed to provide professional liability insurance companies information to more effectively manage their businesses; heighten industry visibility by releasing information of public interest; and provide better information about loss prevention and industry product to professionals in PLUS. To help fund these efforts, the Foundation has embarked on a $3 million capital campaign to provide the necessary resources.
PLUS is unique in that it draws together insureds and insurers in a forum that is designed to provide better understanding of professional liability insurance and the management of professional liability risks. Its success would indicate that this may well be an approach that other industry segments should consider. *