Bastrop, TX (PRWEB) July 15, 2014
Sharp Propane has been recognized for their outstanding commitment to propane safety and risk management from Preferred Energy Group (PEG) insurance company. This will mark the third consecutive year in which Sharp Propane was recognized with The President’s Award and the first time they have been eligible for and secured The Chairman’s Award. These awards recognize both short and long term success in the safe servicing of propane clients; and are awarded to companies with proven records of low liability claims, including workers compensation, auto liability and general liability claims. To win these awards, companies must experience less than a 10% loss ratio. Sharp Propane exceeded these goals by having a 0% loss ratio for the year-end of their 2012 policy.
For more than 60 years, Sharp Propane has supplied safe, energy-efficient propane and propane tanks for both residential and commercial clients across five markets in the state of Texas – Austin, Bastrop, Bryan / College Station, Fort Worth and La Grange. Sharp Propane prides itself on its dedication to safety best practices, and over the years, the Texas-based company has developed extensive safety measures for the installation, operation and delivery of propane. Some of these measures have even been adopted across the industry as mandatory regulations. The company has also developed an innovative, multi-pronged customer service program called Complete Care that offers residential propane customers key services to ensure the safety their tanks, such as the company’s Seven Point Safety Inspection and their Always There™ Guarantee.
Sharp Propane received these two prestigious safety awards from the Preferred Energy Group – an exclusive group captive insurance company owned by 13 of the leading companies in propane, petroleum, and fuel distribution – at the insurance organization’s annual meeting in Hamilton, Bermuda in early summer 2014. The first award they received is The President’s Award, which Sharp Propane has won for the third consecutive year; and the second is The Chairman’s Award, which recognizes the PEG member with the lowest cumulative loss ratio over a three year period. Other award winners include Revere Gas; Tri Gas & Oil Company; Boulden, Inc.; Gresham Petroleum Company; and Como Oil & Propane. They each received the Vice President’s Award, which means they had a loss ratio between 10% and 25%.
These awards are influential benchmarks that indicate the quality of propane service that Sharp Propane customers can expect and rely on, as well as the dedication that the company has to their customer’s safety when it comes to propane use.
The propane industry as a whole is often a self-serve industry without much customer service. This is an aspect of the industry that Sharp Propane has worked to change, offering its clients a low-maintenance, high quality option for year-round propane use.
About the President’s Award
The President’s Award recognizes PEG members who achieved a loss ratio (Total Incurred Claims compared to Premium) of less than 10% for a single policy year. For the 2012 policy year, E.O. Sharp Propane Co., Inc. experienced a 0% loss ratio. This award highlights the safety and risk management focus that Sharp Propane possesses in controlling its Workers Compensation, General Liability, and Auto Liability claims.
About the Chairman’s Award
The Chairman’s Award recognizes the PEG member with lowest cumulative loss ratio over a three year period. For the 2010, 2011 and 2012 policy years, E.O. Sharp Propane Co., Inc. experienced a 2.18% loss ratio. This award highlights the safety and risk management focus that Sharp Propane possesses in controlling its Workers Compensation, General Liability, and Auto Liability claims, over a consecutive three year period.
About Preferred Energy Group (PEG)
Preferred Energy Group (PEG) is an exclusive group captive insurance company owned by 13 of the leading companies in propane, petroleum, and fuel distribution. Partnering with leaders in these unique industries, PEG owners have created a cost-effective and customized solution to meet their industry specific property and casualty insurance and safety needs that the traditional insurance market does not provide. To qualify, a company must be in the fuel distribution industry, privately held, and have a keen focus on safety and risk management. Benefits of PEG ownership include a long term stabilization of costs, potential upfront cost reductions, and the ability to earn back up to 50% of premiums.
To learn more about PEG, contact Nick Blyth at (515) 223-7007 or nblyth(at)yourcaptive(dot)com.
About Sharp Propane
For more than 60 years, Sharp Propane has been supplying safe, energy-efficient propane and tanks to Central Texas. Sharp Propane is a leading service provider of residential and commercial propane systems providing customers an environmentally-friendly, safe, and reliable energy source for the way they live and work. The Propane Professionals at Sharp are focused on putting customers first and setting industry standards for safety and service. Founded in 1949 in Smithville, Texas, Sharp is one of the largest propane dealers in the United States and the largest independent retailer of propane in Texas. Sharp is headquartered in Bastrop, Texas with operations also in Austin, Bryan, Fort Worth, and La Grange, Texas.