BETHESDA, Md., Oct. 25 /PRNewswire/ -- Robert L. Johnson, founder and chairman of The RLJ Companies (RLJ), today announced the launch of RLJ Insurance Services, created in conjunction with AV International, LLC (AVI), a minority business insurance firm providing services for state government, municipal and corporate clients.
RLJ Insurance Services expands AVI's reach and capabilities in the stop-loss market, which provides protection against catastrophic or unpredictable costs. Under a stop loss policy, the insurance company reimburses the employer for legitimate health claims that exceed certain limits. RLJ Insurance Services is minority controlled and diversity qualified and will market its core product, stop-loss insurance, for self-insured employer health plans directly and through agents and brokers with specific attention on state governments, municipalities and other corporate clients.
"AVI is a leader in the insurance industry," said Johnson, who will serve as Chairman of Board for RLJ Insurance Services. "Now that our new strategic alliance has been finalized, we have combined resources and managerial support to maximize opportunities in the medical-stop loss sector with a goal of creating the nation's premier minority controlled Managing General Underwriting Services," he concluded.
"When it comes to premium spend, insurance companies have faced a challenge in complying with diversity requirements set forth by states, towns, municipalities and corporations because there were no minority owned or controlled insurance companies with proper qualifications and ratings," said Andre Duggin, CEO of AVI. "With today's announcement, we have changed that model, which benefits existing and potential customers as RLJ Insurance Services continues to grow."
"RLJ Insurance Services will allow more stop-loss options and product flexibility to meet customer needs and the expectations in today's marketplace," says Russell Naylor, founder of Elite Underwriting Services, the largest privately owned Managing General Underwriter in the country and a partner at AVI.
About RLJ Insurance Services, LLC
RLJ Insurance Services, LLC, a minority owned insurance services firm, provides underwriting and stop-loss coverage with the support of national insurance carriers to state and municipal governments, and corporate clients. Additional capabilities, through AMERIFIRST, the wholesale division of RLJ Insurance Services, LLC, include insurance services specializing in cost-effective insurance/reinsurance solutions in workers' compensation; healthcare; property and casualty; and employee benefits. AMERIFIRST is the nation's premier minority Managing General Underwriter (MGU) representing A and A+ rated insurance companies assuring high quality and financial stability, key components in the current insurance market. AMERIFIRST provides underwriting services in all 50 states and maintains a solid client base as well as provides organizations with an opportunity to reach and exceed established goals for Minority Business Enterprise (MBE) participation.
RLJ Insurance Services Media Inquiries: Garfield S. Collins, 610.975.6070 or firstname.lastname@example.org
About The RLJ Companies
The RLJ Companies, founded by Robert L. Johnson, is an innovative business network that provides strategic investments in a diverse portfolio of companies. The RLJ Companies seeks to target undiscovered or underserved markets then exercise solid management to achieve results. Within The RLJ Companies portfolio, Johnson owns or holds majority interests in businesses operating in banking, private equity, hospitality, automobile dealerships, entertainment, and video lottery terminal (VLT) gaming. The RLJ Companies is headquartered in Bethesda, MD, with affiliate operations in Charlotte, NC; Orlando, FL; Little Rock, AR; Los Angeles, CA; San Juan, PR; and Monrovia, Liberia. Prior to founding The RLJ Companies, Johnson was founder and chairman of Black Entertainment Television (BET). For additional information please visit: www.rljcompanies.com.
RLJ Media Inquiries: Traci Otey Blunt, 240.744.7858 or email@example.com
SOURCE The RLJ Companies