Scottsdale Insurance Company and K&K Insurance Group, Inc. are pleased to announce a new relationship for property and casualty business related to Sports and Motorsports Programs.
As of August 1, K&K will begin writing professional, amateur, intercollegiate and interscholastic sports risks as well as motorsports events, facilities and race teams with Scottsdale's admitted carrier National Casualty Company. This venture brings together two experienced and respected insurance providers and will ultimately benefit the sports and motorsports industries.
"This relationship provides us a great opportunity to enter a highly specialized market niche with a recognized industry leader like K&K," said Steve Franke, Vice President, Marketing for Scottsdale Insurance Company. "We're very excited about the possibilities this relationship holds."
Ross Smith, President & CEO of K&K adds, "We were presented with an opportunity to forge a long-term relationship with an industry leader, Scottsdale Insurance Company. We believe this partnership will give us flexibility into the future and is in the best interest of our customers."
A wholly owned subsidiary of Nationwide, Scottsdale Insurance Company accepts the commercial and personal property and casualty risks most standard companies reject and has an A.M. Best Rating of A+XV (Superior) and a Standard & Poor's "A" rating.
K&K Insurance Group, Inc., a division of Aon Underwriting Managers (AUM), is a managing general underwriter offering insurance products and services to the sports, leisure, and entertainment industries. They have provided insurance products to the motorsports industry continuously since 1952.
Aon Corporation (NYSE: AOC) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. There are 43,000 employees working in Aon's 500 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.
Media contact: Lou Valentic K&K Insurance Group, Inc. Phone 260-459-5604 Fax 260-459-5800 Lou_Valentic@kandkinsurance.com
This press release contains certain statements related to future results, or states our intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. Potential factors that could impact results include: general economic conditions in different countries in which we do business around the world, changes in global equity and fixed income markets that could affect the return on invested assets, fluctuations in exchange and interest rates that could influence revenue and expense, rating agency actions that could affect our ability to borrow funds, funding of our various pension plans, changes in the competitive environment, our ability to implement restructuring initiatives and other initiatives intended to yield cost savings, our ability to execute the stock repurchase program, our ability to obtain regulatory or legislative changes to permit continuous sales of our supplemental Medicare health product, changes in commercial property and casualty markets and commercial premium rates that could impact revenues, changes in revenues and earnings due to the elimination of contingent commissions, other uncertainties surrounding a new compensation model, the impact of investigations brought by state attorneys general, state insurance regulators, federal prosecutors, and federal regulators, the impact of class actions and individual lawsuits including client class actions, securities class actions, derivative actions, ERISA class actions, the impact of the analysis of practices relating to stock options, the cost of resolution of other contingent liabilities and loss contingencies, and the difference in ultimate paid claims in our underwriting companies from actuarial estimates. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, is contained in the Company's filings with the Securities and Exchange Commission.
First Call Analyst:
FCMN Contact: email@example.com
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20041215/CGW049LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, firstname.lastname@example.org
SOURCE: K&K Insurance Group, Inc.
CONTACT: Lou Valentic of K&K Insurance Group, Inc., +1-260-459-5604,