Scarborough Announces New Strategic Alliance With CNA
03 Marzo 2008 - 4:00PM
PR Newswire (US)
Firms develop products tailored for community banking industry
CHICAGO, March 3 /PRNewswire-FirstCall/ -- Scarborough, a division
of Financial and Professional Risk Solutions, Inc., announced that
it has entered into a nationwide exclusive underwriting agreement
with CNA, one of the nation's leading business insurers.
Scarborough is exclusively underwriting on behalf of CNA all
property and casualty lines of business for community banks with
assets of less than $3 billion. Lines included within this
exclusive underwriting agreement are Property, General Liability,
Auto Liability, Workers Compensation, Umbrella, Mortgagee's
E&O, Foreclosed Property, and Repossessed Auto. (Logo:
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO) "We
developed this program in response to market demands, and fully
expect that it will allow us to better serve the overall insurance
needs of the community banking segment," says Mark Tomlinson,
managing director of Scarborough. This new strategic alliance
expands upon the existing underwriting agreement Scarborough enjoys
with CNA for Fidelity and Management Liability lines for community
banks nationwide. "This arrangement aligns both organizations to
focus on the community banking industry segment by providing a
suite of products tailored to the exposures unique to such
institutions," says Dan Fortin, senior vice president of Specialty
Underwriting at CNA. "CNA has a strong presence in Specialty Lines,
and we will continue to build on our history of initiative and
innovation." Scarborough, a managing agent serving community
financial institutions for nearly 90 years, specializes in
coverages tailored to community banks. Eligible institutions
include Commercial Banks, Savings and Loan Associations, Credit
Unions, and Savings Banks. Scarborough quotes exclusively through
independent agents and brokers. About Scarborough Scarborough, a
division of Financial & Professional Risk Solutions Inc., is a
managing agent serving the insurance needs of financial
institutions nationwide and is a subsidiary of Aon Corporation.
About Aon Aon Corporation (NYSE:AOC) is the leading global provider
of risk management services, insurance and reinsurance brokerage,
human capital and management consulting, and specialty insurance
underwriting. Through its 43,000 professionals worldwide, Aon
readily delivers distinctive client value via innovative and
effective risk management and workforce productivity solutions. Our
industry-leading global resources, technical expertise and industry
knowledge are delivered locally through more than 500 offices in
more than 120 countries. Aon was ranked by A.M. Best as the number
one global insurance brokerage in 2007 based on brokerage revenues,
and voted best insurance intermediary, best reinsurance
intermediary, and best employee benefits consulting firm in 2007 by
the readers of Business Insurance. For more information on Aon, log
onto http://www.aon.com/. About CNA CNA is the country's seventh
largest commercial insurance writer and the 13th largest property
and casualty company. CNA's insurance products include standard
commercial lines, specialty lines, surety, marine and other
property and casualty coverages. CNA services include risk
management, information services, underwriting, risk control and
claims administration. For more information, please visit CNA at
http://www.cna.com/. CNA is a registered service mark, trade name
and domain name of CNA Financial Corporation. FORWARD-LOOKING
STATEMENT AND LIMITATIONS This press release contains certain
statements relating to future results, which are forward-looking
statements as that term is defined in the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
subject to certain risks and uncertainties that could cause actual
results to differ materially from either historical or anticipated
results, depending on a variety of factors. Potential factors that
could impact results include the general economic conditions in
different countries around the world, fluctuations in global equity
and fixed income markets, exchange rates, rating agency actions,
resolution of pending regulatory investigations and related issues,
including those related to compensation arrangements with
underwriters, pension funding, ultimate paid claims may be
different from actuarial estimates and actuarial estimates may
change over time, changes in commercial property and casualty
markets and commercial premium rates, the competitive environment,
the actual costs of resolution of contingent liabilities and other
loss contingencies, and the heightened level of potential errors
and omissions liability arising from placements of complex policies
and sophisticated reinsurance arrangements in an insurance market
in which insurer reserves are under pressure ,as well as certain
other factors set forth in the companies' respective Securities and
Exchange Commission filings. These filings also contain further
information concerning the companies and their respective
businesses. Any descriptions of coverage under CNA policies or
programs in this press release are provided for convenience only
and are not to be relied upon in relation to questions of coverage,
exclusions or limitations. With regard to all such matters, the
terms and provisions of relevant insurance policies are primary and
controlling. For More Information Mark Tomlinson 312-381-3344
http://www.scarboroughins.com/
http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO
http://photoarchive.ap.org/ DATASOURCE: Aon Corporation CONTACT:
Mark Tomlinson of Scarborough, +1-312-381-3344 Web site:
http://www.aon.com/ http://www.cna.com/
http://www.scarboroughins.com/
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