CalSurance Professional Liability Insurance Program for Real Estate Brokers Now Available Wholesale; Coverage Offered Through Exclusive Partnership with Arch Insurance Group.Business Editors ORANGE, Calif.--(BUSINESS WIRE)--May 8, 2003 CalSurance (www.calsurance.com), a national insurance sales, service and support organization, has announced that the exclusive partnership it established last year with Arch Insurance Group to offer professional liability insurance for real estate brokers will now be open on a wholesale basis to insurance brokers and agents. "CalSurance's exclusive partnership with Arch Insurance Group provides real estate brokers and their sales associates with broad professional liability coverage. The program includes coverage for claims arising out of pollution, discrimination, insured-owned property, lockbox Lockbox A collection and processing service provided to firms by banks, which collect payments from a dedicated postal box to which the firm directs its customers to send payment to. property damage and seller's errors and omissions errors and omissions n. short-hand for malpractice insurance which gives physicians, attorneys, architects, accountants and other professionals coverage for claims by patients and clients for alleged professional errors and omissions which amount to negligence. ," said CalSurance Vice President, Nancy Evans Ev·ans , Herbert McLean 1882-1971. American anatomist who isolated four pituitary hormones and discovered vitamin E (1922). . "As a program manager, CalSurance has provided thousands of real estate firms nationwide with comprehensive professional liability coverage and we're pleased to be expanding the distribution of Arch's first-rate program," she added. Evans said that claims will be handled by Lancer Claims Services, a third-party administrator that has specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in E&O claims for more than 25 years and specifically real estate E&O over the past eight years. CalSurance and Lancer Claims are subsidiaries of Brown & Brown of California, Inc. For information on the program, insurance brokers and agents can visit the CalSurance Web site or contact Nancy Evans, vice president, affinity marketing division. Coverage may not be available in all states. About Arch Insurance Group Arch Insurance Group is a division of Arch Capital Group Ltd., a Bermuda-based company that provides 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. on a worldwide basis through its wholly owned subsidiaries Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . Arch Insurance Group's principal insurance subsidiaries -- Arch Insurance Company, Arch Specialty Insurance Company and Arch Excess & Surplus Insurance Company -- are rated A- (Excellent) by A.M. Best. About CalSurance CalSurance and Lancer Claims are an insurance sales, service and support organization comprised of many diverse and specialized programs, with a total of 160 employees. CalSurance and Lancer Claims are subsidiaries of Brown & Brown of California, Inc. The company is licensed across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and is an appointed agent/broker with more than 25 of the major insurance carriers. CalSurance is a program manager for Arch Insurance Group. In addition they are also program managers for Fireman's Fund Insurance Companies Fireman's Fund Insurance Company is a Novato, California-based insurance company owned by Allianz SE of Germany. It was founded June 18 1863 and issued its first policy to Walter Hawxhurst covering one half interest in 1,000 kegs of Boston syrup for a premium of $12. , Zurich Insurance Group-U.S., and Travelers Insurance. |
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