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PROGRAM ADMINISTRATOR

Distinguished Programs

Key program classification: commercial and habitational real estate including umbrella, D&O, package policies, and separate property and liability policies.

Distinguished Programs is a leader in the design, management and wholesale distribution of niche insurance programs for the commercial and residential real estate industry. Programs are designed to meet the needs of a number of real estate classes, including:

• Small urban multi-family homes
• Community associations
• Condominiums and co-ops
• Homeowners associations
• Office buildings
• Apartment buildings
• Senior housing
• Affordable housing
• Strip malls
• Timeshares

Products are distributed through a nationwide network of 2,200 retail agents and brokers. Licensed in 50 states and actively writing in 48, Distinguished Programs has offices in New York, Colorado, California, Illinois, Ohio, Pennsylvania and Rhode Island.

The company’s sole industry focus is real estate and its roots go back more than 50 years. In 1987, the organization pioneered the country’s first Real Estate Umbrella Liability Purchasing Group. This purchasing group allowed real estate clients to band together for the purchase of insurance. This new purchasing power gave them access to the higher limits they were seeking at 20-30 percent less cost. The original purchasing group is still in operation today and is one of the largest in the country.

According to Carla Vel, Distinguished Programs’ president and chief operating officer, “Our goal is to give agents/brokers a competitive advantage in writing real estate business. We support our agents/brokers’ efforts to write and retain business in five ways:”

Products With an Edge—Deep knowledge of the challenges real estate clients face combined with sophisticated market analytics and pricing and underwriting tools enable Distinguished to deliver products that have the right coverages, are cost competitive, and sustainable over time. One example of a highly tailored product is the company’s D&O policy for homeowners associations. Many companies’ policies exclude defense coverage for non-monetary damages, yet non-monetary damages represent 75% of claims. Distinguished Program’s product includes this vital coverage.

Consistent, “A” Rated Admitted Carriers—In addition to financial strength, Distinguished Programs’ insurers know real estate and have strong track records for writing this business in both good times and challenging ones.

Ease of Doing Business—Processes and custom-built technology are all geared to reduce broker workload and facilitate fast response. For example: Distinguished works with the broker’s application and will pre-fill information. Quick Quote Service provides fast indications on pricing with a minimum of paperwork. Automatic renewals are available on some programs.

Highly Experienced Staff—Brokers work with a knowledgeable account team that knows their territory and has the experience and authority to make decisions. The team approach helps ensure accessibility and speeds response time.

Staying a Step Ahead—Distinguished Programs has a full-time new product development department. One of its key responsibilities is monitoring trends within the real estate industry so that the company stays a step ahead in identifying emerging opportunities. As lifestyles, demographics and housing needs change, niches and products evolve.

According to Carla Vel, another one of Distinguished Program’s advantages is its data. “We’ve built a proprietary database, and on every submission that comes in, we collect at least 30 very specific pieces of information having to do with the characteristics of the risk: location, age, and type of construction; type of ownership and occupancy; how many stories, how many units, sprinklered or not, fire and life safety information, and so on. That allows us to slice and dice information so we can understand what the risk looks like. When we sit down with an insurance company to negotiate something or to create something new, being able to present a detailed analysis and projections gives us a real advantage.”

Distinguished Programs’ professionalism and success have earned the company two nationally recognized awards. Inc. Magazine named Distinguished Programs one of the 5,000 fastest growing private companies in America. The company has also received Target Markets Program Administrators “Best Practices Designation.”

Agents can learn more about Distinguished Programs by calling Jim Tesoriero at (888) 355-4626 or by visiting www.distinguished.com.