Ulico Insurance Group 'Honored' to Provide Commercial Coverage to the Union that Represents New York's Heroic Firefighters.Business Editors NEW YORK--(BUSINESS WIRE)--Nov. 18, 2002 Ulico Insurance Group, the property and casualty subsidiary of ULLICO ULLICO Union Labor Life Insurance Company Inc., is now providing commercial coverage to the Uniformed Firefighters Association The Uniformed Firefighters Association is the main union of firefighters in the Fire Department of New York (FDNY). Its president is Stephen J. Cassidy, a vocal critic of mayor Rudy Giuliani's decisions during the Rescue and recovery effort after the September 11, 2001 of Greater New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Local 94 of the International Association of Fire Fighters The International Association of Fire Fighters (IAFF) is a labor union representing professional fire fighters in the United States and Canada. The IAFF was formed in 1918 and is affiliated with the AFL-CIO in the United States and the Canadian Labour Congress in Canada. . Under the new policy, effective 1 November 2002, Ulico Casualty is supplying a package that includes coverage for the union's commercial property, protection against employee dishonesty, protection for data processing equipment, liability coverage for the office and for the union's apprenticeship program, and coverage for the organization's owned and leased vehicles. "We're honored and delighted to be providing our commercial property and casualty coverage to New York City's firefighters' union," said Robert A. Georgine, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ULLICO Inc. "The Uniformed Firefighters represent the heroes of our times, the very best of America's men and women." Ulico Casualty is an underwriter of commercial property and casualty, workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. , 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. , and fiduciary liability coverage for jointly managed trust funds, unions, and organized employers. Georgine believes one of the reasons Ulico picked up the new account is its faith in the soundness and future of New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . "We believe in New York City," Georgine said. "Our companies continue to write business in the city; we've made and continue to make major investments in New York construction and real estate development. The terrorist attacks of September 11th did nothing to change our minds about the viability and future of New York City." Ironically, the opportunity for Ulico Casualty to obtain the Uniformed Firefighters' account arose because the local union's former commercial insurer indicated it was not interested in renewing coverage. "This new policy is a culmination of the 16 years we've been providing commercial coverage to our union market," said Michael R. Machanich, president of Ulico Insurance Group. "We entered this market in 1986, when other insurance carriers abandoned it altogether or offered unions unacceptable terms, coverage and rates. It was a 'hard market' then, and many unions were left high and dry, without commercial coverage. Now we are stepping forward again to meet the needs of organized labor." Ulico has grown substantially over the years, partly because of its response to changing rules and regulations and partly because of its leadership, Machanich said. Ulico Insurance Group is rated A- (Excellent) by A.M. Best. |
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