Overview
What is Property Loss Research Bureau?
The Property Loss Research Bureau is a nonprofit organization situated in Downers Grove, Illinois. Their core mission is to support the property and casualty insurance industry, primarily in the adjudication and resolution of claims. They achieve this through various means, including education and training, legal and claims research services, and other relevant offerings. The organization strives to foster high levels of competence among insurance claim representatives, conduct research on coverage issues, and promote clarity in insurance policy language. Furthermore, they encourage innovative, fair, and efficient claims adjusting practices, organize industry training programs, and collaborate with other insurance groups to enhance industry knowledge and professionalism. During catastrophes, the Property Loss Research Bureau assists and educates claims personnel and aids victims through public information. With a workforce of 42 individuals, they contribute significantly to the property and casualty insurance industry.
Official website here: www.plrb.org
Is Property Loss Research Bureau legitimate?
Property Loss Research Bureau is a legitimate nonprofit organization registered as a 501(c)(6) entity. Property Loss Research Bureau submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,930,874
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,968,108
For more financial information, click here
Official website here: www.plrb.org
What is the mission statement of Property Loss Research Bureau?
The Property Loss Research Bureau's mission is to support the property and casualty insurance industry. Its primary objective is to promote the industry's interests in claim adjudication and resolution matters. More specifically, the Bureau strives to enhance competence among insurance claim representatives, conduct research on claims coverage issues, clarify insurance policy language, and advocate for fair and efficient claims adjusting practices. Furthermore, it organizes and creates effective industry training programs, contributes to the industry's claims response, and aids catastrophe victims through public information. The Bureau also collaborates with other property and casualty industry groups to enhance industry knowledge and professionalism.
Official website here: www.plrb.org
Who is the CEO of Property Loss Research Bureau?
Bryan Falchuk is the Chairman of Property Loss Research Bureau. The CEO's salary of Property Loss Research Bureau is $133,750 and their total compensation is $149,890.
Official website here: www.plrb.org
What is the revenue of Property Loss Research Bureau?
Property Loss Research Bureau's revenue in 2022 was $11,373,388.
Official website here: www.plrb.org
Who are the executives of Property Loss Research Bureau and what are their salaries?
The average compensation at Property Loss Research Bureau during 2022 was $140,452. There are 42 employees and 300 volunteers at Property Loss Research Bureau.
Here are 19 key members and their salaries (Property Loss Research Bureau's CEO's salary is $133,750 and their total compensation is $149,890):
- Compensation: $0
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- Compensation: $716,167
- Related: $0
- Other: $126,332
- Compensation: $314,640
- Related: $0
- Other: $75,416
- Compensation: $292,572
- Related: $0
- Other: $72,738
- Compensation: $258,000
- Related: $0
- Other: $56,631
- Compensation: $263,026
- Related: $0
- Other: $48,763
- Compensation: $246,540
- Related: $0
- Other: $34,877
- Compensation: $214,463
- Related: $0
- Other: $60,820
- Compensation: $133,750
- Related: $0
- Other: $16,140
- Compensation: $129,032
- Related: $0
- Other: $42,004
- Compensation: $125,284
- Related: $0
- Other: $29,468
- Compensation: $125,035
- Related: $0
- Other: $29,276
- Compensation: $122,778
- Related: $0
- Other: $29,127
- Compensation: $124,446
- Related: $0
- Other: $18,129
Official website here: www.plrb.org
Where can I find the form 990 for Property Loss Research Bureau?
Property Loss Research Bureau's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.plrb.org
Learn more at the official website: www.plrb.org
Mission Statement of Property Loss Research Bureau
The Property Loss Research Bureau, a notable entity within the property and casualty insurance industry, is committed to serving its purpose by promoting the interests of this sector in claim adjudication and resolution matters. More specifically, this organization strives to achieve and maintain high levels of competence among insurance claim adjusters, provide research and analysis on coverage issues, clarify insurance policy language, and advocate for innovative, fair, and efficient claims adjusting practices.
In addition, the Property Loss Research Bureau arranges and creates effective industry training programs, aiding catastrophe claims personnel and educating them in response to industry catastrophes. The bureau also contributes to the industry's claims response, assists and educates catastrophe victims through public information, and cooperates with other property and casualty industry groups and associations to enhance industry knowledge and professionalism.
In summary, the Property Loss Research Bureau plays a significant role in the property and casualty insurance industry by providing resources, training, and advocacy, ultimately aiming to improve competence, clarity, and efficiency in claim adjudication and resolution practices.
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Impact
October, 2024
The Property Loss Research Bureau significantly impacts the property and casualty insurance industry by enhancing professionalism and competence in claims adjustment. By providing essential research and analysis on claims coverage issues, it fosters clarity and understanding of insurance policy language. This organization promotes innovative and efficient claims adjusting practices, ensuring that members are well-equipped to handle complex situations.
Through comprehensive training programs, the Bureau contributes to raising the industry's standards, ensuring that those representing insurers possess the skills necessary to effectively adjudicate and resolve claims. Its commitment to education and collaboration fosters a more knowledgeable workforce, ultimately benefiting both the industry and consumers. The Bureau also plays a crucial role in supporting claims personnel during catastrophes, assisting victims with vital information and aid.
In addition, by cooperating with other industry groups, the Property Loss Research Bureau amplifies the collective effort to improve practices and professionalism across the sector. This collaboration bolsters the industry's response to claims and enhances overall service delivery to the community.
This information is meant to be a general summary of Property Loss Research Bureau. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $510,611
- Program Service Revenue: $10,862,777
- Gross Receipts: $19,818,110
Assets and Liabilities:
- Total Assets: $31,019,563
- Total Liabilities: $12,573,908
- Net Assets: $18,445,655
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ASSESSMENTS
Revenue
$7,730,259
CONFERENCES, CONVENTIONS, MEETING
Revenue
$3,127,903
PUBLICATIONS
Revenue
$4,615
Organization Details
Founding Year
1977
Phone
(630) 724-2200Principal Officer
Bryan Falchuk
Main Address
3025 HIGHLAND PARKWAY 800, DOWNERS GROVE, IL, 60515
Website
www.plrb.orgNTEE Category
Code: S41 - Community improvement
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