SOURCE: B&B Protector Plans, Inc.

B&B Protector Plans, Inc.

B&B Protector Plans, Inc.

September 19, 2013 13:10 ET

B&B Protector Plans, Inc. and Aspen US Insurance Partner for Lawyers Professional Liability

TAMPA, FL--(Marketwired - Sep 19, 2013) - B&B Protector Plans, Inc. ("B&B Protector Plans") and Aspen US Insurance ("Aspen US") announced today that Aspen US will become the new carrier for the Lawyer's Protector Plan® ("LPP®"). The program will offer lawyers professional liability coverage to law firms with 1 to 20 attorneys, except in California, Florida, Illinois and Pennsylvania where the program will be available to law firms with 1 to 9 attorneys.

"We are excited about the opportunity that the Aspen-LPP® partnership presents to our professional liability agents and law firm policyholders as we celebrate 30 years in the lawyers' professional liability marketplace," said Laura M. Simon, Executive Vice President of B&B Protector Plans and Program Manager of the LPP® program. "Our partnership with Aspen will allow us to provide underwriting, claims, and risk management solutions to the small and mid-size law firm market in which we have specialized for the past three decades."

Justin Camara, Aspen's Senior Vice President of Professional Liability added: "We are pleased to partner with B&B Protector Plans to underwrite the Lawyer's Protector Plan®. Aspen offers admitted capabilities which are anchored by our financial strength and 'A' rating from A.M. Best. The addition of this program broadens our Professional Liability offering to law firms of all sizes and reflects our commitment to selectively expand our product offering in our target market segments."

About B&B Protector Plans, Inc.
The LPP® is a division of B&B Protector Plans, which is a wholly-owned subsidiary of Brown & Brown, Inc. ("Brown & Brown"), a publicly held insurance intermediary whose stock is traded on the New York Stock Exchange, Inc. Brown & Brown is ranked as the seventh largest insurance intermediary in the United States by Business Insurance magazine. The LPP® began operations in 1983 and has since become a premier provider of professional liability insurance to small law firms in the United States. Further information about the LPP® can be found at http://lawyers.protectorplan.com.

About Aspen US Insurance
Aspen US Insurance, which is part of Aspen Insurance Holdings Limited ("Aspen"), writes property, casualty and specialty insurance in the United States on both a surplus lines and admitted basis through Aspen Specialty Insurance Company and Aspen American Insurance Company. Our underwriting teams have a specialized focus on opportunities in Inland Marine and Ocean Risks, Professional Liability, Management Liability and Directors and Officers Insurance, all of which are underwritten in addition to established lines of Property, General Casualty and Environmental Liability. Further information about Aspen can be found at www.aspen.co.

About Aspen Insurance Holdings Limited
Aspen provides reinsurance and insurance coverage to clients in various domestic and global markets through wholly-owned subsidiaries and offices in Bermuda, France, Germany, Ireland, Singapore, Switzerland, the United Kingdom and the United States. For the year ended December 31, 2012, Aspen reported $10.3 billion in total assets, $4.8 billion in gross reserves, $3.5 billion in shareholders' equity, and $2.6 billion in gross written premiums. Its operating subsidiaries have been assigned a rating of "A" ("Strong") by Standard & Poor's, an "A" ("Excellent") by A.M. Best and an "A2" ("Good") by Moody's Investors Service.

Application of the Safe Harbor of the Private Securities Litigation Reform Act of 1995

This press release contains "forward-looking" statements regarding future results and events, including, without limitation, statements regarding Aspen US's partnership with the LPP® and the expansion of Aspen US's Professional Liability segment. Forward-looking statements include all statements that do not relate solely to historical or current facts, and can be identified by the use of words such as "expect," "intend," "plan," "believe," "project," "anticipate," "seek," "will," "estimate," "may," "aim," "likely," "continue," "guidance," and similar expressions of a future or forward-looking nature.

All forward-looking statements rely on a number of assumptions, estimates and data concerning future results and events and are subject to a number of uncertainties and other factors, many of which are outside Aspen's control, that could cause actual results to differ materially from such statements, including changes in market conditions and the impact of such factors on our business. For a detailed description of uncertainties and other factors that could impact the forward-looking statements in this press release, please see the "Risk Factors" section in Aspen's Annual Report on Form 10-K for the year ended December 31, 2012, filed with the U.S. Securities and Exchange Commission on February 26, 2013. All forward-looking statements included in this press release are made only as of the date of this press release, and Aspen undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

This press release may contain certain statements relating to future results which are forward-looking statements. These statements are not historical facts, but instead represent only Brown & Brown's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of Brown & Brown's control. It is possible that the actual results of the expansion of the LPP® may differ, possibly materially, from the anticipated results indicated in these forward-looking statements. Further information concerning Brown & Brown and its business, including factors that potentially could materially affect Brown & Brown's financial results, are contained in Brown & Brown's filings with the Securities and Exchange Commission. All forward-looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.

Contact Information

  • Contact:
    Laura Simon
    Program Manager
    Lawyer's Protector Plan®
    800-336-5529 ext. 4284

    For further information, please visit www.aspen.co or contact:

    Media

    North America
    Abernathy MacGregor
    Allyson Vento
    amv@abmac.com
    +1 212 371 5999

    Investors

    Kathleen de Guzman
    Vice President, Investor Relations
    Aspen
    kathleen.deguzman@aspen.co
    +1 646 289 4912