Philadelphia Insurance Companies Launches New Apartment Product
June 12 2008 - 2:43PM
PR Newswire (US)
BALA CYNWYD, Pa., June 12 /PRNewswire-FirstCall/ -- Philadelphia
Insurance Companies (NASDAQ:PHLY) proudly introduces its newest
product niche, Apartments. Providing one of the Broadest Coverage
forms in the market, PHLY's new Apartment product offers
comprehensive coverage for General Liability, Property, Crime,
Automobile and Umbrella. The new Apartment product is designed for
the above average, professionally managed and well maintained
Market Rate Apartment. Eligible classes include complexes
originally built in 1980 or later. Acceptable amenities include
club houses, fitness centers, playgrounds and swimming pools. The
underwriting preference is single location accounts. Location
schedules are only considered if all properties meet underwriting
criteria and have common ownership. Frame apartment buildings
cannot exceed 3 stories and must contain masonry firewalls if the
unit count is high to be acceptable. Prior loss runs are required
even if the ownership has recently changed. Submission requirements
include a PHLY Residential application, color photographs, plot
plan, statement of values and 4 years of company loss runs. In
operation since 1962, PHLY designs, markets, and underwrites
commercial property/casualty and professional liability insurance
products incorporating value added coverages and services for
select industries. The Company, whose commercial lines insurance
subsidiaries are rated A+ (Superior) by A.M. Best Company and A1
for insurance financial strength by Moody's Investors Services, is
nationally recognized as a member of Ward's Top 50, Forbes'
Platinum 400 list of America's Best Big Companies and Forbes' 100
Best Mid-Cap Stocks in America. The organization has 47 offices
strategically located across the United States to provide superior
service. To locate your nearest office or for more information,
visit us on the web at http://www.phly.com/ or contact Paula Negro
at 800-873-4552 ext. 3227. DATASOURCE: Philadelphia Insurance
Companies CONTACT: Media: Paula Negro, Assistant Vice President,
Marketing, +1-610-766-3227, ; or Investor Relations: Joseph
Barnholt, Assistant Vice President, +1-610-617-7626, , both of
Philadelphia Insurance Companies Web site: http://www.phly.com/
Copyright
Philadelphia Consolidated (NASDAQ:PHLY)
Historical Stock Chart
From Jul 2024 to Jul 2024
Philadelphia Consolidated (NASDAQ:PHLY)
Historical Stock Chart
From Jul 2023 to Jul 2024