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ASPN Announces New Property-Only Coastal and Commercial Wind Program from Performance Insurance Services, Inc.
If you are an ASPN agent or broker, you can rest assured when the wind starts to blow.

CHICAGO, January 23, 2008 – ASPN announced today a new coastal and commercial wind program from Performance Insurance Services, Inc. exclusively for ASPN agents and brokers. When the wind starts to blow, your clients located on coastal waters can rest assured. This new, property-only program is available to all commercial property classes located on coastal waters – except for Florida, where the capacity has already been exhausted - including office complexes, apartments, higher-valued apartments, condos, restaurants and strip malls, etc.

 

“We are extremely excited about this new property-only coastal and commercial wind program. Underwritten in London, the program features property insurance policies without wind and hail exclusions. Premiums and rates are competitive,” says Tim Craig, president and CEO of Performance Insurance Services, Inc. and Lloyd’s Correspondent.

 

While there are no set limits for this program, Performance Insurance Services prefers to write accounts with a total TIV under $5 million, but is willing to offer quotes for large risks as well.  Optional coverages include earthquake, all types of business income, and builders’ risk. Coverage is replacement cost or ACV loss settlement valuations. Claims will be handled by local adjusters.

 

Jerry Tegan, president of ASPN, says, “Performance Insurance Services ultimately developed this product solely on its own, with assistance from their London broker. The facility fills a tremendous gap in coverage for many ASPN agents who have commercial clients located on coastal waters. We are extremely pleased to have PIS offer ASPN agents and brokers access to this new NON-CAT property program.”

 

About Performance Insurance Services, Inc.

Located in Carmel, Indiana, Performance Insurance Services, Inc. (www.performancinsuranceservices.com) provides a high level of specialized technical proficiency in niche markets. “We carve out markets and underwrite those risks flawlessly. In addition, we provide leading-edge, customer services. Our motto is ‘service isn’t expensive…it’s priceless,” says Tim Craig.

 

About ASPN

Agency Specialty Product Network, known as ASPN (www.askaspn.com), is a subsidiary of Aon Corporation and operates as a marketing arm for more than 20+ provider companies including insurance carriers, wholesalers, managing general underwriters and insurance services companies.  ASPN offers a wide variety of more than 450 insurance products, programs and services. 

 

CONTACT: Performance Insurance Services, Inc. at +1.800.965.5580 www.performancinsuranceservices.com or ASPN at +1.877.ASK-ASPN (+1.877.275.2776) www.askaspn.com



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