Brown & Brown and Navigators Partner for Lawyers Professional Liability Effective November 1, 2009
May 12 2009 - 4:30PM
Marketwired
Brown & Brown, Inc. (NYSE: BRO) and Navigators Insurance
Company announced today that Navigators will become the new carrier
for the Lawyer's Protector Plan� (LPP�) effective November 1, 2009.
Brown & Brown and Navigators will combine their existing
programs for law firms with one to 19 attorneys, thereby creating
one of the leading national lawyers' professional liability
insurance programs in the country.
The LPP� is a division of B&B Protector Plans, Inc., which
is a wholly-owned subsidiary of Brown & Brown, Inc., a publicly
held insurance intermediary traded on the New York Stock Exchange.
Brown & Brown is ranked as the seventh largest insurance
intermediary in the United States and ninth largest in the world 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. On a
combined basis, Brown & Brown and Navigators will provide
professional liability to more than 6500 law firms in approximately
45 states and the District of Columbia. More information regarding
the LPP� is available at http://lawyers.protectorplan.com.
Navigators Insurance Company is rated "A" Excellent by A.M. Best
and "A" Strong by Standard & Poor's. The Navigators Group, Inc.
was named on Fortune Magazine's 2008 list of "America's 100 Fastest
Growing Companies" and is an international specialty insurance
holding company with insurance company operations, underwriting
management companies, and operations at Lloyd's of London.
Headquartered in New York City, Navigators has offices in major
insurance centers in the United States, the United Kingdom and
Continental Europe. More information regarding Navigators is
available at www.navg.com.
"We enter into our program partnership with Navigators with
great enthusiasm and a high level of commitment to this partnership
and to our policyholders," said Laura M. Simon, Executive Vice
President of B&B Protector Plans, Inc. and Program Manager of
the LPP program. "We will work hard together to offer a true value
proposition to our policyholders through a combination of
unparalleled service and enhanced product offerings."
"Both Brown & Brown and Navigators have developed market
reputations for providing exceptional service to the small law firm
market. In working together, we intend to capitalize on the synergy
of our two organizations to provide enhanced service and innovative
solutions for law firms," said Reina L. Gregorio, President,
Professional Liability, Navigators Pro, a division of Navigators
Management Company, Inc.
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.
Contact: Laura Simon Program Manager Lawyer's Protector Plan�
800-336-5529 ext. 4284
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