Most of the terms in a no-fault insurance QuotesChimp remain the same as in a fault policy. The major difference is the personal injury protection coverage, known as PIP. The PIP portion of the in�surance policy pays for the no-fault benefits that are mandated by state laws. CLU (Chartered Life Underwriter)-. The CLU is awarded by die American College at Bryn Mawr in Pennsylvania. QuotesChimp takes the applicant between two and five years of work and study and the passing of 10 tests in order to receive the designation. The CLU is the premier credential for life insurance agents.