CHICAGO, June 9 Specialty Underwriters'Alliance, Inc. (Nasdaq: SUAI) announced that its subsidiary, SUA InsuranceCompany ("SUA"), has entered into a quota share arrangement with AmericanSafety Indemnity Co. to provide general liability to companies engaged in theautomobile repossession business.
Courtney Smith, president and chief executive officer of SUA, stated, "Weare delighted to enter into a second arrangement with American Safety,expanding the programs where we can write accounts requiring A-rated paper.We are excited about this new program opportunity with AEON in the collateralrecovery (repossession) customer segment."
Brad Isaacson, Director of Program Business at American Safety InsuranceServices, Inc., American Safety Indemnity Co.'s administrative serviceprovider noted, "American Safety is pleased to expand its relationship withSUA. This helps to meets our corporate diversification strategy of targetingvery specific market segments and aligning ourselves with underwriting anddistribution partners that provide very detailed industry expertise".
About Specialty Underwriters' Alliance, Inc.
Specialty Underwriters' Alliance, Inc., through its subsidiary SUAInsurance Company, is a specialty property and casualty insurance company thatprovides commercial insurance products through exclusive wholesale partneragents that serve niche groups of insureds. These targeted customers requirehighly specialized knowledge due to their unique risk characteristics.Examples include tow trucks, building contractors, professional employeeorganizations and public entities. SUA's innovative approach providesproducts and claims handling, allowing the partner agent to focus ondistribution and customer relationships.
About American Safety
American Safety offers innovative insurance solutions in the alternativeinsurance market for environmental remediation, contracting and otherspecialty risks underwritten by American Safety Casualty Insurance Company,American Safety Indemnity Company and American Safety Risk Retention Group,Inc., each of which is a subsidiary or affiliate of American Safety InsuranceHoldings, Ltd. (NYSE: ASI), a Bermuda-based holding company. The AmericanSafety companies, as a group, are rated "A" (Excellent) VIII by A.M. Best.
Safe Harbor Statement
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