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Special Section Sponsored by Target Markets Program Administrators Association Professional Program Insurance Brokerage State-of-the-art programs for contemporary industries In this soft insurance market, brokers everywhere have the option to either compete on price, which can lead to frustration, or seek out categories that are not overworked by the insurance industry. Professional Program Insurance Brokerage (PPIB) has answers for brokers who want to market to exciting, up-and-coming industries. PPIB was formed in 1993 for the purpose of developing insurance programs for industries that did not have them. PPIB first tackled the permanent cosmetic industry. This service includes tattooing on eyebrows, eyeliner and lips. To better serve the industry, PPIB president, Susan Preston, set up a non-profit association for permanent cosmetic technicians that provided loss control. From this alliance with industry representatives, PPIB was able to develop underwriting standards, applications and endorsements that served the industry. Fifteen years later, PPIB is still leading the way in insurance innovation for permanent cosmetics. In 1995, tattoo industry leaders asked PPIB for a program similar to the one for permanent cosmetics, as the two fields employ many of the same standards of care. PPIB successfully developed a program for tattoo artists, followed by a program for body piercers. PPIB studied the body piercing field for over six months before creating underwriting guidelines, policy endorsements that included standards on piercing minors, and rating methodology. This is the leading program in America for tattoo artists and body piercers, as it provides coverage that meets their needs and addresses their issues. For over 12 years, PPIB has worked with London markets. For the last seven years, the body art program has been with Lloyd’s syndicates. PPIB’s annual success has led most Lloyd’s syndicates to ask for a larger portion of the underwriting slip. They realize that PPIB knows and works with industry leaders in each of their programs. In 2000, long before the bandwagon, PPIB recognized that the Medi spa/laser industry was going to boom. At that time, PPIB worked with doctors, laser specialists and trainers to understand lasers, Botox, dermal fillers, medical peels and mesotherapy. To best serve both underwriters and the industry, PPIB developed consent, medical history and aftercare forms for these disciplines. These forms are used by laser manufacturers, insurance professionals, doctors, nurses and others in the Medi spa world. Clients and insurance brokers are aware of PPIB’s assistance with Medi spa issues. Medi spa applications, rating methodologies and policy endorsements were developed by PPIB. Their proprietary forms are geared to each procedure done in a Medi spa. This is not traditional medical malpractice, as it does not cover blanket services. Due to it’s ala carte coverage, rates are very competitive. PPIB offers Medi spa quotes within 24-48 hours, prior to having complete applications, which is important to busy individuals. Body art rates are offered on the Web site in a self-rating format. PPIB also has a tanning program quoted in 24-48 hours. All programs offer coverage for beauty services such as microdermabrasion, massage, facials and other salon services. Brokers everywhere are finding it easy and cost-efficient to go after business where competition is light. Several broker members of Target Markets now work with PPIB. Find out what they and other brokers have discovered: PPIB offers “state-of-the-art programs for contemporary industries.” → |
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