MORRISTOWN, N.J., Dec. 14, 2010 — Crum & Forster today announced that its distribution partner, Sangamon Associates, a division of Leeward Insurance Group, was selected as exclusive marketer of a Group Personal Umbrella insurance product offered through American Bar Insurance Plans Consultants, Inc. (ABI) to employees of eligible law firms across the United States. Law firms where at least one Lawyer is a member of the American Bar Association (ABA) may now offer this unique program to their employees.
The Crum & Forster policy form, as customized for ABI, includes an enhanced policy coverage form for ABA members and employees of eligible law firms — including $1M of Uninsured/Underinsured Motorists coverage in each policy. Further, despite the superior coverage form, the premium is rated at reduced group rates. Thus, eligible firms may now offer a superior product at a competitive rate. Also, the product is available for any size law firm — provided a minimum of ten policies are sold and the firm meets a minimum participation rate by the firm's partners.
"In today's marketplace, when the number of uninsured/underinsured drivers in the United States is growing, we felt ABA members should have this coverage available," said ABI President J. David Andrews, former ABA Treasurer.
"We are very excited to be working with ABI to bring this important coverage to ABA members and employees of eligible law firms," said Ron Mongillo, Vice President of United States Fire Insurance Company. "We believe that a personal umbrella policy plays a vital role in the risk management portfolio of any insured. We have seen a dramatic increase in recent months in the number of law firms that require that their partners carry at least $1M of personal umbrella coverage. Our product delivers this coverage in a streamlined manner that includes no individual paper application or intrusive home inspections or telephone surveys."
The Crum & Forster ABI-tailored personal umbrella policy will be available in all states. Law firms interested in offering this coverage can visit http://www.abiexcess.com for more information. Or, please have your agent access the site for more information.
"Crum & Forster" is a registered trademark of United States Fire Insurance Company. Policies in this program will be underwritten by Crum & Forster Specialty Insurance Company, a subsidiary of United States Fire Insurance Company. Crum & Forster is part of the Fairfax Group.
American Bar Insurance Plans Consultants, Inc. was established in 1989 as a wholly owned for-profit subsidiary of the American Bar Endowment. The ABE is a non-profit membership organization consisting of ABA members. It offers unique group insurance programs in which ABA/ABE members are asked to donate dividends to the Endowment to support its charitable program of grants to support research, education and public service in the field of law. ABI sponsors insurance programs for ABA members that do not lend themselves to the Endowment's dividend contribution structure. ABI is paid compensation for the programs it sponsors and dividends an appropriate portion of its net profits to the Endowment to support its charitable work.
CONTACTS:
Bill Cleave, President, Sangamon Associates, 609-818-9534, Email
Bill Bear, Executive Director, ABI 312-988-6427, Email
Ron Mongillo, Vice President, United States Fire Insurance Company, 203-497-3740, Email
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