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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