SOURCE: Brown & Brown, Inc.

April 18, 2007 09:34 ET

Laura Simon Named to Head Brown & Brown, Inc.'s Lawyer's Protector Plan®

DAYTONA BEACH, FL and TAMPA, FL -- (MARKET WIRE) -- April 18, 2007 -- Linda S. Downs, CPCU, AAI, President of B&B Protector Plans, Inc., a subsidiary of Brown & Brown, Inc. (NYSE: BRO), has announced that Laura M. Simon, JD, MBA, has been promoted to Executive Vice President and Profit Center Leader of the Lawyer's Protector Plan® (LPP®), one of the programs that comprises B&B Protector Plans, Inc. In her new position, Ms. Simon will be responsible for the day-to-day operations of this niche professional liability insurance program serving attorneys and law firms nationwide.

Ms. Downs explained, "We feel quite fortunate that Laura, with her background in both law and business, was available to step into this position as we expand our marketing focus and resources for this successful brand. She has accepted the challenge to help lead the LPP to the next level."

Ms. Simon was selected based on her experience with the Company, law degree and Masters of Business Administration (MBA) degree. Most recently she has been the Director of the Company's Leadership Development Department. Prior to that she served in management capacities within the Lawyer's Protector Plan® for six years, during which time she earned her MBA degree from the University of Tampa. Before joining the LPP, Ms. Simon spent several years as a claims specialist and consultant with insurance underwriting companies in the midwestern United States. She earned her Juris Doctor degree from Cleveland-Marshall College of Law.

The LPP has been providing professional liability insurance for attorneys since 1983. Today, the program writes approximately $40 million in premiums annually and covers nearly 6,000 law firms in 44 states and the District of Columbia. The LPP is underwritten by Greenwich Insurance Company, a member of the XL Capital group, which is a diversified insurance, reinsurance and financial products and services business. XL Capital Group has earned one of the highest ratings available ("A+" XV) from A.M. Best, the leading independent insurance rating organization in the United States.

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 United States' sixth largest independent insurance intermediary. 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, including those relating to continuing our revenue and operating growth. These statements are not historical facts, but instead represent only the Company's current 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, financial condition and achievements may differ, possibly materially, from the anticipated results, financial condition and achievements contemplated by these forward-looking statements. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results and condition, as well as its other achievements, are contained in the Company's filings with the Securities and Exchange Commission. Some factors include: general economic conditions around the country; downward commercial property and casualty premium pressures; the effects of recent legislative and regulatory changes in Florida pertaining to the insurance industry; the competitive environment; the integration of the Company's operations with those of businesses or assets the Company has acquired or may acquire in the future and the failure to realize the expected benefits of such integration; the potential occurrence of a disaster that affects certain areas of the States of California, Florida, Georgia, New Jersey, New York, Pennsylvania and/or Washington, where significant portions of the Company's business are concentrated; the actual costs of resolution of contingent liabilities; those factors relevant to Brown & Brown's consummation and integration of announced acquisitions, including any matters analyzed in the due diligence process, material adverse changes in the customers of the companies whose operations are acquired, and material adverse changes in the business and financial condition of either or both companies and their respective customers; and the cost and impact on the Company of previously disclosed litigation initiated against the Company and regulatory inquiries regarding industry and Company practices with respect to compensation received from insurance carriers. All forward-looking statements made herein are made only as of the date of this 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 hereafter becomes aware.

Contact Information

  • Linda S. Downs
    Executive Vice President
    (386) 239-5715