A specialty errors and omissions captive founded by AssurexGlobal and The Council of Insurance Agents & Brokers celebratesits 20th anniversary this month.

Professional Agencies Reinsurance, Ltd. (PAR), the captiveprogram founded by the two groups, provides E&O cover andrisk-management counsel to large agencies and brokers.

Columbus, Ohio-based Assurex Global, an insurance brokeragepartnership firm, and Washington, D.C.-based CIAB, a major brokerassociation, found the captive in the mid-1980s during a period ofliability availability and affordability. The program today offersits services to 9,500 insurance professionals in more than 65 ofthe largest agency and brokerage firms in the United States.

"Over those two decades we have grown and have become moresophisticated in our risk management techniques to meet theevolving E&O needs of our agencies and brokers," said JimHackbarth, president of both PAR Ltd. and Assurex Global. "Theexcellent E&O results of our clients combined with our highcustomer retention rate--consistently at 90 percent--show that wehave been and will continue to be indispensable business partnerswith our clients."

"PAR was born out of the desire of participating agencies andbrokers to better control liability costs and to improve managementof their operations. It has done that and more," said Ken A.Crerar, CIAB president.

The program insures roughly one-quarter of the 100 largestbrokers in the United States, according to a statement. Fireman'sFund Insurance Company underwrites the program and handles allclaims.

More information on the program is available atwww.parltd.com.