SOURCE: Brown & Brown, Inc.

September 18, 2007 09:17 ET

Brown & Brown of California, Inc. Offers Professional Liability Product to Small Broker/Dealers

ORANGE, CA--(Marketwire - September 18, 2007) - Chuck Brady, Vice President of Brown & Brown of California, Inc., a subsidiary of Brown & Brown, Inc. (NYSE: BRO), today announced that the Programs Division of Brown & Brown of California, Inc. is now offering a professional liability product for Broker/Dealer firms with less than 100 Registered Representatives. Brown & Brown of California is acting as a program administrator on behalf of an A. M. Best's "A" rated surplus lines carrier.

The product offers fast track application process, competitive pricing and comprehensive coverage. The program also offers:

--  Pre-litigation assistance up to $10,000 annually for legal counsel to
    address disciplinary proceedings and responses to subpoenas.
--  Broad professional services defined to include conduct as a registered
    investment adviser as well as the sale and servicing of life products and
    approved and authorized annuities, equity indexed annuities, mutual funds
    and securities.
--  Supervisory coverage for the Broker/Dealer extends to current, former,
    terminated, retired and disabled Registered Representatives.
--  Wrongful acts includes libel, slander, defamation, disparagement, or
    violation of a right to privacy.
--  Automatic one year discovery period following termination of a
    registered representative's contract with the Broker/Dealer during the
    policy period for any reason other than cause.
--  Prior acts available back to the first date of continuous E&O coverage
    for the sale of life products.
--  Duty to defend civil proceedings and arbitrations; non-litigated
    claims may be resolved informally without resorting to legal intervention.
    

Optional Coverage available to qualifying Broker/Dealers includes:

--  Specialty Investment Coverage (REIT's, Limited Partnerships and Direct
    Private Placements)
--  Trade Error Coverage
--  Full Discretionary Authority Coverage
    

Chuck Brady says, "We are filling a need with this product for insuring Broker/Dealers that are regional or that are growing. Our service will set us apart as our new fast track application can be done in minutes and doesn't ask for the piles of additional that is standard in the industry."

For more information on the product you can visit www.broprog.com or contact Chuck Brady at Cbrady@broprog.com.

Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third party administration, managed health care, and Medicare set-aside services and programs. Providing service to business, public entity, individual, trade and professional association clients nationwide, the Company is ranked by Business Insurance magazine as the sixth largest independent insurance intermediary in the United States and worldwide. The Company's Web address is www.bbinsurance.com.

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 the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, are contained in the Company'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 the Company does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which the Company thereafter becomes aware.

Contact Information

  • Chuck Brady
    Vice President
    Brown & Brown of California, Inc.
    (714) 367-7585