TAMPA, FL, May 12, 2009 (MARKETWIRE via COMTEX) -- Brown & Brown, Inc. (NYSE: BRO) and Navigators Insurance Company
announced today that Navigators will become the new carrier for the
Lawyer's Protector Plan(R) (LPP(R)) 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(R) 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(R) 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(R) 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
SOURCE: Brown & Brown, Inc.