Brown & Brown, Inc. Announces New Carrier for Wholesalers & Distributors Preferred Program(R), Food Processors Preferred Program
July 05 2005 - 10:09AM
PR Newswire (US)
Brown & Brown, Inc. Announces New Carrier for Wholesalers &
Distributors Preferred Program(R), Food Processors Preferred
Program(R), and Light Manufacturing Program(SM), Effective July 1,
2005 TAMPA, Fla., July 5 /PRNewswire-FirstCall/ -- Brown &
Brown, Inc. (NYSE:BRO) today announced a program alliance with ACE
Westchester Specialty Group. Effective July 1, 2005, ACE
Westchester Specialty Group will provide coverage through ACE
American Insurance Company and other admitted ACE affiliates, part
of the ACE Group of Companies, for the Wholesalers &
Distributors Preferred Program(R), Food Processors Preferred
Program(R), and Light Manufacturing Program(SM) administered by the
Insurance Administration Center (IAC) unit of Brown & Brown's
Commercial Programs division. The Wholesalers & Distributors
Preferred Program(R) (WDPP(R)), Food Processors Preferred
Program(R) (FPPP(SM)), and Light Manufacturing Program(SM)
(LMP(SM)) are property and casualty insurance programs created to
target industry groups in the wholesale distribution, food
processing, and light manufacturing sectors, respectively. "These
programs have been designed to give agents a true marketing
advantage in competing for this business. The advantage is based on
an ongoing commitment to provide the coverage that is essential to
the nature of wholesale distribution, food processing and light
manufacturing industries," said Katherine S. Reimann, Senior Vice
President of Brown & Brown's Commercial Programs Division.
"With built-in protection for the lifeblood of these industries --
inventory coverage -- WDPP(R), FPPP(SM) and LMP(SM) provide
superior customized, industry-specific, comprehensive protection,
and expert technical services that directly contribute to client
businesses' financial success." WDPP(R), FPPP, and LMP are
insurance programs administered by 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. "We are pleased to join forces with Brown &
Brown's experienced Commercial Programs practice as this provides
us with new opportunities to expand our business and bring ACE
Westchester Specialty Group's innovative solutions to the
commercial programs insurance market," said Robert J. Groff, Vice
President, Program Division, ACE Westchester Specialty Group. ACE
Westchester Specialty Group is the U.S.-based wholesale focused
excess and surplus property and casualty operation of the ACE Group
of Companies, which is headed by ACE Limited (NYSE:ACE). The ACE
Group of Companies provides insurance and reinsurance for a diverse
group of clients around the world. Additional information about ACE
Westchester Specialty Group can be found at http://www.ace-ina.com/
. "Our relationship with ACE Westchester Specialty Group provides
us with new opportunities to expand our leading commercial
insurance programs. Our agents, and their clients in these vital
and dynamic industries, may now take advantage of having the
specialized insurance coverage programs their businesses require
underwritten by one of the world's most highly regarded and
financially sound insurance organizations," Ms. Reimann added. 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: economic conditions
around the country generally and/or the wholesale distribution,
food processing, and light manufacturing industries in particular;
downward commercial property and casualty premium pressures
generally and in the wholesale distribution, food processing,
and/or light manufacturing sectors in particular; 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: Katherine S. Reimann, Commercial Programs Division, Brown
& Brown, +1-813-222-4025 Web site: http://www.bbinsurance.com/
http://www.ace-ina.com/
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