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Experience of New Executives Underscores Balboa Insurance Group's Commitment to Financial Institutions.

IRVINE, Calif., Nov. 13 /PRNewswire/ -- Balboa Insurance Group, a leader in lender-placed auto and hazard insurance, announced three new industry veterans who will play pivotal roles in supporting and expanding its collateral protection, lender-placed hazard, life, credit & debt, and warranty & specialty insurance products for financial institutions.

Balboa Insurance Group is proud to announce the addition of Mark DeLoach, Gary Flowers, and David Lipps -- three individuals who each bring two to three decades of proven experience in helping financial institutions manage their risks and offer valuable products to their customers.

Mark DeLoach, Executive Vice President, Financial Institution Products

Mark DeLoach will be responsible for heading all of Balboa Insurance Group's financial institution product lines. With nearly three decades of experience in product management in a broad array of insurance-related products for financial institutions, DeLoach has a strong background in the lender-placed auto and hazard insurance markets in which Balboa is among the market leaders -- as well as other key areas such as debt cancellation. Prior to joining Balboa, DeLoach spent 12 years at JP Morgan Chase & Company in positions including head of both product management and product development for Chase Insurance Group and 16 years with Assurant in increasing roles of responsibility.

Gary Flowers, Executive Vice President, Sales and Marketing

Gary Flowers will oversee all of Balboa Insurance Group's sales and marketing efforts -- a key role as Balboa seeks to grow market share and maintain its leadership positions. With more than three decades of experience in the financial services sector, Flowers' deep knowledge of how lenders leverage products, technology, and people to gain a competitive advantage will be a tremendous value to Balboa's clients. Prior to joining Balboa, Flowers worked at ACS for 15 years where he held various senior sales and division management positions in consumer finance.

David Lipps, Senior Vice President, Sales and Product Development

David Lipps joins Balboa Insurance Group in a strategic sales and product development role and has more than two decades of experience in sales, business development, and marketing. In addition to his role in sales, Lipps will carry on Balboa's legacy of developing world-class products based on customer feedback and innovation -- an approach that yielded the industry's first risk-based, lender-placed hazard insurance pricing model and produced a truly unique, fully-integrated collateral protection risk management program. Prior to joining Balboa, Lipps was a senior vice president at AEGON Direct Marketing Services.

"Balboa Insurance Group continues to commit significant resources in support of innovative, compliant-focused products and programs that protect the interests of financial institutions and deliver unmatched quality assurance, call center capabilities, and service levels," said Mark McElroy, President, Financial Institutions Division and Managing Director, Balboa Insurance Group, Inc. "Mark DeLoach, Gary Flowers, and David Lipps join a team of world-class individuals who have made Balboa Insurance Group a leading provider of insurance for financial institutions. Our clients will benefit through increased success because of the substantial depth and breadth of experience that these three will contribute."

Balboa Insurance Group

For more than half a century, Balboa Insurance Group has been offering a wide range of insurance programs designed for financial institutions, general agents, independent producers and their customers. Today, Balboa Insurance Group is comprised of Balboa Insurance Company, Meritplan Insurance Company, Newport E&S Insurance Company, Newport Insurance Company, Balboa Life Insurance Company and Balboa Life Insurance Company of New York.

A.M. Best, a leading provider of insurer ratings of a company's financial strength and ability to meet its obligations to policyholders, has rated Balboa Insurance Group's Property & Casualty companies as A (Excellent) and our Life Insurance companies as A- (Excellent).

CONTACT: Ed Essa or Kris Yamamoto, both of Balboa Insurance Group, +1-800-796-8448
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Publication:PR Newswire
Date:Nov 13, 2006
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