Brown & Brown Announces New Carrier for Lawyer's Protector Plan(R) Effective September 1, 2005
June 28 2005 - 9:50AM
PR Newswire (US)
Brown & Brown Announces New Carrier for Lawyer's Protector
Plan(R) Effective September 1, 2005 NEW YORK and TAMPA, Fla., June
28 /PRNewswire-FirstCall/ -- Brown & Brown, Inc. today
announced that Greenwich Insurance Company, XL Capital Ltd's US-
based primary insurer (Greenwich), will become the new carrier for
the Lawyer's Protector Plan(R) (LPP(R)) insurance program,
effective as of September 1, 2005. Brown & Brown and XL will be
joining their respective programs together, creating one of the
largest lawyers' professional liability insurance programs in the
country for law firms with one to 10 attorneys. The LPP is a
division of Brown & Brown, Inc., a publicly held insurance
intermediary traded on the New York Stock Exchange (NYSE:BRO).
Brown & Brown is ranked as the eighth largest insurance
intermediary in the United States by Business Insurance magazine.
The LPP began operations in 1983 and has since become one of the
largest providers of professional liability insurance to small law
firms in the United States. When combined with XL's professional
liability program for small law firms, the LPP program will provide
coverage to over 8,000 law firms in 42 states and the District of
Columbia. Greenwich Insurance Company is a primary insurance
company licensed to write property and casualty insurance
throughout the United States and is a member insurer of XL Capital
Ltd's insurance operations branded as "XL Insurance." XL Capital
Ltd, through its operating subsidiaries, is a leading provider of
insurance, reinsurance coverages and financial products and
services to industrial, commercial and professional service firms,
insurance companies, and other enterprises on a worldwide basis.
More information about XL Capital Ltd is available at
http://www.xlcapital.com/ . "We are very excited to be working with
Greenwich. Our insureds will now enjoy having their lawyer's
professional liability insurance underwritten by an XL Insurance
company. They also have a team with very deep expertise in lawyer's
professional liability," said Stephen van Wert, Executive Vice
President of Brown & Brown responsible for the LPP program,
lawyers.protectorplan.com, in Tampa, Florida. "We are pleased to
have the opportunity to work with Brown & Brown to offer small
law firms access to quality professional liability protection,"
said Reina Gregorio, senior vice president of XL Insurance Select
Professional underwriting unit, which will administer the program
with Brown & Brown. "With our combined expertise and commitment
to service, we have created a solid program that we believe will
prove advantageous to our clients." This press release may contain
certain statements relating to future results which are
forward-looking statements. These statements are not historical
facts, but instead represent only Brown & Brown's belief
regarding future events, many of which, by their nature, are
inherently uncertain and outside of Brown & Brown's control. It
is possible that Brown & Brown's actual results and financial
condition may differ, possibly materially, from the anticipated
results and financial condition indicated in these forward-looking
statements. Further information concerning Brown & Brown and
its business, including factors that potentially could materially
affect Brown & Brown's financial results, are contained in
Brown & Brown's filings with the Securities and Exchange
Commission. Some factors include: general economic conditions
around the country; downward commercial property and casualty
premium pressures; the competitive environment; the integration of
Brown & Brown's operations with those of businesses or assets
Brown & Brown has acquired or may acquire in the future and the
failure to realize the expected benefits of such integration; the
potential occurrence of a disaster that affects certain areas of
the States of Arizona, California, Florida, Georgia, New Jersey,
New York, Pennsylvania and/or Washington, where significant
portions of Brown & Brown's business are concentrated; and the
actual costs of resolution of contingent liabilities. All
forward-looking statements included in this press release are made
only as of the date of this press release, and we do not undertake
any obligation to publicly update or correct any forward- looking
statements to reflect events or circumstances that subsequently
occur or of which we hereafter become aware. DATASOURCE: Brown
& Brown, Inc. CONTACT: Danielle Hardiman, Lawyer's Protector
Plan(R), +1-800-336-5529, ext. 4207 Web site:
http://www.bbinsurance.com/ http://www.xlcapital.com/
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