The Independent Insurance Agents & Brokers of America (IIABA) announced Loiselle Insurance has retained its status as a Best Practices Agency after reviewing the financial records of hundreds of agencies nationwide. With more than 1,500 initial nominations across the United States, the renewed designation has solidified the agency’s place in an elite group of independent insurance agencies that qualified for the honor.
“We are pleased to be nationally recognized for our operational excellence,” said Bob Loiselle, President of Loiselle Insurance. “This status validates Loiselle Insurance’s commitment to offer families the most competitive insurance rates and comprehensive policies available.”
Since 1993, IIABA and Reagan Consulting, an Atlanta-based management consulting firm, have joined forces to study the country’s leading agencies in six different revenue categories. The agencies comprising the review are selected every third year through a comprehensive nomination and qualifying process, and awarded a Best Practices Agency designation upon completion of the study.
The annual Best Practices Study of independent insurance agencies documents the ‘best’ business practices of the nominated agencies and urges others to adopt similar practices. In order to participate in the study group, agencies must be nominated by either an IIABA affiliated state association or an insurance company. Potential nominees must also maintain high standards for operational excellence. Once selected for the three-year cycle, agencies can opt to retain their status for consecutive years by submitting extensive financial and operational data for review every year.
This year marks the third year in the cycle. Loiselle Insurance was among the 262 agencies initially selected for the honor because it was in the top 35-45 performing agencies in one of six revenue categories, according to the study.
Loiselle Insurance has been providing tailored insurance solutions for over 70 years. With a commitment to protect the financial outlook of Rhode Island families, the Pawtucket-based agency advises clients on their auto, home, and business insurance needs.
About Loiselle Insurance Agency
Loiselle Insurance is a fourth-generation, Trusted Choice insurance agency, located at 279 Dexter Street in Pawtucket, RI. With a history that dates back to the 1940s, the agency advises individuals on selecting the right auto insurance, homeowners insurance or business insurance that fits their specific situation.