American Safety Insurance Group, Ltd. Announces New Insurance Units and Management Additions.HAMILTON Hamilton, city, Bermuda Hamilton, city (1990 est. pop. 3,100), capital of Bermuda, on Bermuda Island. It is a port at the head of Great Sound, a huge lagoon and deepwater harbor protected by coral reefs. , Bermuda--(BUSINESS WIRE)--Oct. 28, 1999-- American Safety Insurance Group, Ltd. (NYSE NYSE See: New York Stock Exchange :ASI ASI, n See Anxiety Sensitivity Index. ) today announced that its domestic insurance subsidiary has added several new insurance units to its organization to provide additional insurance products to the specialty insurance marketplace. The Company's domestic insurance program development and management group, formerly known as Synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. Insurance Services, Inc., has been renamed American Safety Insurance Services, Inc. to provide closer identity to the entire American Safety Insurance Group of companies. The subsidiary's insurance operations have been divided into the Specialty Insurance Services Division, headed by Joseph Scollo, Sr. Vice President of Operations; and the Program Insurance Services Division, headed by Steve Crim, Executive Vice President. The Specialty Insurance Services Division includes the existing environmental insurance unit, workers compensation unit and surety An individual who undertakes an obligation to pay a sum of money or to perform some duty or promise for another in the event that person fails to act. surety n. group, and a new excess and surplus lines group, which will develop specialty risk business in the excess and surplus lines marketplace. The Program Insurance Services Division includes the existing program business group, a new commercial lines group and a new PEO (Professional Employer Organization A professional employer organization (PEO) provides outsourcing of payroll, workers' compensation, human resources and employee benefits administration. It does this by hiring a client company’s employees, thus becoming their employer of record. ) business development group. The new commercial lines group will enable the company to provide a broad range of commercial property and casualty coverages to existing and new specialty risk markets. The PEO business development group will be responsible for the development and marketing of specialty insurance and other products and services to the company's growing list of professional employer organizations and employee leasing and staffing industry clients. American Safety Insurance Services is also pleased to announce the addition of the following senior insurance managers to its staff. In the commercial lines group, George Khalid, formerly Director of Commercial Lines with Vesta Insurance Company, has been named Underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. Manager, and John Blake John Blake may refer to:
Announcing these new groups and staffing additions, Lloyd Fox, President and Chief Executive Officer of American Safety Insurance Group, Ltd. said, "We are extremely pleased and proud to have added an excellent group of senior insurance managers to our domestic operations. These individuals bring many years of insurance experience and expertise to American Safety. These management additions, combined with the establishment of the Specialty Insurance Services Division and the Program Insurance Services Division, will enable our companies to provide additional products and services to our specialty insurance operations areas and continue the growth in premium and profitability. Together with the prior establishment of our financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. group, American Safety Financial Corp, and our branch underwriting office capability in Chicago, Illinois Illinois, river, United States Illinois, river, 273 mi (439 km) long, formed by the confluence of the Des Plaines and Kankakee rivers, NE Ill., and flowing SW to the Mississippi at Grafton, Ill. It is an important commercial and recreational waterway. , we are poised to continue our growth and success." American Safety Insurance Group, Ltd. is a specialty insurance and financial services company which, through its subsidiaries, develops, underwrites, manages and markets primary casualty insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. programs in the alternative insurance market for environmental risks, employee leasing and staffing industry risks, and other specialty risks, as well as providing a broad range of financial services and products to middle market businesses. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. in this news release involve risks and uncertainties and are subject to change based on various factors, including competitive conditions in the insurance industry, unpredictable developments in loss trends, changes in loss reserves, market acceptance of new coverages and enhancements, and changes in levels of general business activity and economic conditions. |
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