BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.
To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.
To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.
The Institutes has acquired Claims and Litigation Management, a professional association for the insurance claims sector, and Claims Pages, an online news and information source for insurance claims professionals.
Terms of the deal, which closed Friday, were not disclosed.
CLM and Claims Pages will continue to operate under their own brands, but both companies will convert to not-for-profit status. Adam Potter will step down as CEO of both companies but will serve as an executive consultant to The Institutes during a transition period. Mr. Potter will remain CEO of Business Insurance, which is not involved in the deal.
Plantation, Florida-based CLM, which has more than 45,000 members working in claims resolution and litigation management, provides educational programs and claims-related publications, and runs more than 300 local and national events annually. Its annual conference attracts more than 2,000 attendees, Mr. Potter said. CLM has also spearheaded the creation of the Universal Claims Certification, a streamlined process to facilitate the licensing of claims adjusters in multiple states.
Deltona, Florida-based Claims Pages, which provides documents, worksheets, letter templates, insurance forms, calculators and other claims resources, was founded in 1997. Taylor Smith will remain president of Claims Pages, which was acquired by CLM in January of this year, and the approximately 40 other staff of CLM and Claims Pages will remain with the organizations.
The Institutes offers numerous educational courses and professional development resources for the insurance and risk management sector, including the Chartered Property Casualty Underwriter and Associate in Risk Management designation programs. It serves about 100,000 students a year, and its CPCU Society has more than 20,000 members.
Peter Miller, president and CEO of the Malvern, Pennsylvania-based organization, said the deal will help The Institutes expand its reach and develop its educational offerings.
“We are more than 100 years old, and what we’ve always done is seek to understand where the industry is going and adapt to that. This transaction allows us to serve a wider range of claims professionals through broadened subject matter expertise in claims, and we’ll be reaching a new audience — litigation management professionals — which we do not currently serve,” he said.
In addition, CLM’s volunteer network and wide-ranging educational seminars and events will add to The Institutes’ educational abilities, Mr. Miller said.
“We have traditionally delivered knowledge and education through textbooks and through online courses. The seminar face-to-face model is something that we did not do a lot of, and we think that’s very useful,” he said.
Mr. Potter, who founded CLM in 2007, said The Institutes will offer CLM’s membership a broad suite of products and resources.
“CLM has grown substantially over the past 11-12 years. As we move forward with some of the certification products that we are offering and other resources that we are giving the industry, it’s the right time at this point to turn it into a nonprofit as well,” he said.
Mr. Potter has been CEO of Business Insurance since 2016.