LOCAL AGENCY INCLUDED IN IIABA’S BEST PRACTICES STUDY
NATICK MA, AUGUST 2014 – Fair & Yeager Insurance Agency has retained its status as part of an elite group of independent insurance agencies around the United States participating in the Independent Insurance Agents & Brokers of America (IIABA or the Big “I”) “Best Practices” Study Group.
Each year since 1993, IIABA and Reagan Consulting, an Atlanta-based management consulting firm, join forces to study the country’s leading agencies in six revenue categories. The agencies comprising the study groups are selected every third year through a comprehensive nomination and qualifying process and awarded a “Best Practices Agency” designation. The selected “Best Practices” agencies retain their status during the three-year cycle by submitting extensive financial and operational data for review each year.
“We are very proud of this recognition and realize it is reflective of the outstanding efforts of our entire staff every day”, said Arthur B. Fair, III, Fair & Yeager Insurance, President.
Last year, which marked the start of a new three-year study cycle, more than 1,100 independent agencies throughout the U.S. were nominated to take part in the annual study, but only 217 agencies qualified for the honor. To be chosen, the agency had to be among the 35-45 top-performing agencies in one of six revenue categories.
The agency was nominated by The Massachusetts Association of Insurance Agents and qualified based on its operational excellence.
The Best Practices Study was initiated by IIABA in 1993 as the foundation for efforts to improve agency performance. The annual survey and study of leading independent insurance agencies documents the business practices of the “best” agencies and urges others to adopt similar practices.
The Fair & Yeager Insurance Agency, an Independent Agency, was founded in 1898 and offers insurance products from a number of different companies including Travelers Insurance, Safety Insurance, Commerce Insurance, CNA Insurance, Preferred Mutual, Plymouth Rock and Andover Cos.