N🟁N

Navigators and Victor O. Schinnerer & Company, Inc. Launch Non-Profit D&O Program

  //business-finance.news-articles.net/content/201 .. r-company-inc-launch-non-profit-d-o-program.html
  Published in Business and Finance on Monday, June 7th 2010 at 12:55 GMT by Market Wire
          ^{🞛 This publication is a summary or evaluation of another publication}

NEW YORK--([ BUSINESS WIRE ])--The Navigators Group, Inc. (NASDAQ: NAVG) today announced that its principal underwriting agency subsidiary, Navigators Management Company, Inc., and Victor O. Schinnerer & Company, Inc. are launching a new Non-Profit D&O program, effective June 1, 2010. Schinnerer shall act as program administrator for Navigators.

"The launch of the new Non-Profit D&O program marks the beginning of a great relationship with Navigators"

aThe combination of Schinnerera™s non-profit underwriting expertise and experience, and Navigatorsa™ strength and stability gives policyholders a tailored insurance program that responds to their needs,a said Brian Turner, Vice President of Navigators Professional, a division of Navigators Management Company, Inc. aSchinnerera™s market leadership in professional liability insurance is well-established. Their professionalism, attention to detail, and full commitment to the industries they serve make them the ideal partner for Navigators.a

The admitted filing of this countrywide program is currently under way and 44 states, the District of Columbia and Puerto Rico have already approved. Available coverages in this new program include:

• Wage and hour defense
• Shared and separate limit options
• Circumstance reporting
• No D&O hammer clause
• Broad definition of subsidiaries

aThe launch of the new Non-Profit D&O program marks the beginning of a great relationship with Navigators,a said Lorna Parsons, President and Chief Underwriting Officer at Schinnerer. aWea™re excited to be able to offer our customers a standout product and, with Navigators as our new partner, we believe this program is exactly what the market has been waiting for. Our brokers will be pleased by the enhanced coverages and broader risk appetite of the Schinnerer Non-Profit D&O program. By partnering with Navigators, we are positioned to provide innovative insurance solutions.a

In addition to the many classes of non-profits Schinnerer currently underwrites, senior care facilities and social service organizations are just a few new classes that have been newly added as eligible. A full suite of products including directors & officers liability, employment practices liability and fiduciary liability are available, making the program one of the most comprehensive offerings in the Non-Profit D&O marketplace.

Schinnerer will continue to service existing Non-Profit D&O policies under its prior program until their expiration date.

The Navigators Group, Inc. is an international specialty insurance holding company with insurance company operations, underwriting management companies, and operations at Lloyd's of London. Headquartered in New York City, Navigators has offices in major insurance centers in the United States, the United Kingdom and Continental Europe.

Victor O. Schinnerer & Company, Inc. is one of the largest and most experienced underwriting managers of professional liability and specialty insurance programs in the world. Schinnerer now serves more than 46,000 insureds in various specialty industries through independent agents and brokers.

This press release may contain aforward-looking statementsa as defined in the Private Securities Litigation Reform Act of 1995. Whenever used in this release, the words aestimate,a aexpect,a abelieve,a amay,a awill,a aintend,a acontinuea or similar expressions are intended to identify such forward-looking statements. We cannot assure that results that we anticipate will be achieved, since results may differ materially because of known and unknown risks and uncertainties that we face. Please refer to Navigatorsa™ most recent Forms 10-K and 10-Q and its other filings with the Securities and Exchange Commission for a description of Navigatorsa™ business and the important factors that may affect that business. Navigators undertakes no obligation to publicly update or revise any forward-looking statement.