SUA Insurance Company Contracts With New Partner Agent Writing Artisan and General Contractors and Roofers
March 26 2007 - 10:14AM
PR Newswire (US)
CHICAGO, March 26 /PRNewswire-FirstCall/ -- Specialty Underwriters'
Alliance, Inc. (NASDAQ:SUAI), through its subsidiary SUA Insurance
Company, today announced a new Partner Agent agreement with Flying
Eagle Insurance Services, Inc. ("Flying Eagle") to market and
underwrite commercial general liability programs to the underserved
construction segment, including the roofing trade. These programs
will be available through selected brokers in ten states in the
western region. Flying Eagle is headquartered in Minden, Nevada and
has over 15 years experience underwriting this customer class.
Courtney Smith, president and chief executive officer, stated
"Flying Eagle represents a great opportunity, as they complement
our existing contractors book and have substantial experience
writing this customer class. We look forward to welcoming this new
Partner Agent to our organization and expanding our offerings in
the western region." In conjunction with the Partner Agent
agreement, Flying Eagle has agreed to purchase $1 million of SUA's
Class B common stock. David Lambin, president of Flying Eagle, also
commented "We are very excited about partnering with SUA Insurance
Company. The general liability policy being offered will provide an
excellent foundation for a contracting insurance program. We look
forward to a long and prosperous relationship." About Specialty
Underwriters' Alliance, Inc. Specialty Underwriters' Alliance,
Inc., through its subsidiary SUA Insurance Company, is a specialty
property and casualty insurance company providing commercial
insurance products through exclusive wholesale Partner Agents that
serve niche groups of insureds. These targeted customers require
highly specialized knowledge due to their unique risk
characteristics. Examples include tow trucks, professional employer
organizations, public entities and contractors. SUA's innovative
approach provides products and claims handling, allowing the
Partner Agent to focus on distribution and customer relationships.
Safe Harbor Statement The Private Securities Litigation Reform Act
of 1995 provides a "safe harbor" for forward-looking statements.
This release or any other written or oral statements made by or on
behalf of the company may include forward- looking statements that
reflect the company's current views with respect to future events
and financial performance. All statements other than statements of
historical fact included in this release are forward-looking
statements. Forward-looking statements can generally be identified
by the use of forward- looking terminology such as "may," "will,"
"plan," "expect," "intend," "estimate," "anticipate," "believe" or
"continue" or their negative or variations or similar terminology.
All forward-looking statements address matters that involve risks
and uncertainties. Accordingly, there are or will be important
factors that could cause our actual results to differ materially
from those indicated in these statements. We believe that these
factors include but are not limited to ineffectiveness or
obsolescence of our business strategy due to changes in current or
future market conditions; increased competition on the basis of
pricing, capacity, coverage terms or other factors; greater
frequency or severity of claims and loss activity, including as a
result of natural or man-made catastrophic events, than our
underwriting, reserving or investment practices anticipate based on
historical experience or industry data; the effects of acts of
terrorism or war; developments in the world's financial and capital
markets that adversely affect the performance of our investments;
changes in regulations or laws applicable to us, our subsidiaries,
brokers or customers; acceptance of our products and services,
including new products and services; changes in the availability,
cost or quality of reinsurance and failure of our reinsurers to pay
claims timely or at all; decreased demand for our insurance or
reinsurance products; loss of the services of any of our executive
officers or other key personnel; the effects of mergers,
acquisitions and divestitures; changes in rating agency policies or
practices; changes in legal theories of liability under our
insurance policies; changes in accounting policies or practices;
and changes in general economic conditions, including inflation and
other factors. Forward-looking statements speak only as of the date
on which they are made, and the company undertakes no obligation to
update publicly or revise any forward-looking statement, whether as
a result of new information, future developments or otherwise. To
learn more about Specialty Underwriters' Alliance, please visit:
http://www.suainsurance.com/. DATASOURCE: Specialty Underwriters'
Alliance, Inc. CONTACT: Leslie Loyet of Financial Relations Board,
+1-312-640-6672, , for Specialty Underwriters' Alliance, Inc.; or
Scott Goodreau of Specialty Underwriters' Alliance, Inc.,
1-888-782-4672, Web site: http://www.suainsurance.com/
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