Specialty Underwriters' Alliance Expands Business With Partner Agent To Include Trucking Program
March 20 2006 - 11:00AM
PR Newswire (US)
CHICAGO, March 20 /PRNewswire-FirstCall/ -- Specialty Underwriters'
Alliance, Inc. (NASDAQ:SUAI) today announced that it amended its
Partner Agent Program Agreement with American Team Managers ("ATM")
to include specialized local and intermediate trucking. ATM will
provide commercial auto, general liability and garage coverages
through a dedicated retail agent with principals who have an
average of over thirty years experience in this industry. The
program will focus initially in California with potential for
expansion. Courtney Smith, president and chief executive officer of
Specialty Underwriters' Alliance, Inc., stated, "This new program
provides an opportunity for us to continue building our
relationship with ATM as they have proven to be a valuable Partner
Agent. It will also help further our goal of balancing our book of
business between workers' compensation, general liability, and
commercial auto liability. This customer class has an existing book
of business of approximately $10 million, which we will expect to
transition as it comes up for renewal. We are excited about this
opportunity as there are approximately 4,500 trucking enterprises
in this region and we intend to begin writing this business during
the second quarter." About Specialty Underwriters' Alliance, Inc.
Specialty Underwriters' Alliance, Inc., through its subsidiary SUA
Insurance Company, is a specialty property and casualty insurance
company that provides 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 employee 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, or Scott Goodreau of Specialty Underwriters'
Alliance, Inc., +1-888-782-4672 Web site:
http://www.suainsurance.com/
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