Crump Develops New Form of Property Coverage
Provides Discretionary Payment to Address Collateral Damages
NEW YORK, Dec. 15 /PRNewswire/ -- Crump Insurance Services, part of Crump
Group, Inc., the nation's largest insurance wholesaler, has developed an
innovative new form of commercial property coverage called
propertyXsurance(TM). Crump has partnered with member companies of the
Berkshire Hathaway Insurance Group to help buyers of property insurance deal
more comprehensively with the consequences of a property loss.
propertyXsurance(TM) is a stand-alone policy that pays for damages that occur
in conjunction with an insured property loss but are not paid for by
traditional property insurance. 'We are happy to work with Crump to offer an
insurance policy to help buyers address the unpaid 'collateral damages'
associated with their property losses,' said Scott Stirling, vice president of
Berkshire Hathaway Reinsurance Group.
propertyXsurance(TM) provides funds over and above loss payments made
under the insured's conventional insurance placement; subject to its policy
terms and conditions, proof of loss is straightforward and payments may be
used any way the insured sees fit. 'With market dislocation, instability and
security issues appearing in the headlines on a daily basis,
propertyXsurance(TM) offers our retail producers a product that can bring a
level of comfort to their clients -- underscored by the unquestioned strength
of our carrier partner,' said John Jennings, president of Crump Insurance
Services.
'propertyXsurance(TM) is another example of our ongoing national new
product development efforts. In addition to our core portfolio of insurance
product offerings, Crump continues to be a leader in developing creative
solutions for our retail partners,' said Jennings.
For more information, or for an online quote, retail brokers may visit
http://www.crumpins.com and select Online Products.
About Crump Insurance Services:
Crump Insurance Services is part of Crump Group, Inc.
(http://www.Crump.com), the largest insurance wholesaler in the United States,
and a leading U.S. provider of recordkeeping and support services to company-
sponsored retirement plans. The commercial division of Crump Group, Crump
Insurance Services (http://www.crumpins.com , http://www.5StarSP.com) is made
up of legacy Crump brokerage offices and the former BISYS Commercial Insurance
Services operations (5Star Specialty Programs and Tri-City Brokerage). Crump
is among the largest U.S. providers of wholesale brokerage and specialty
programs to the commercial property and casualty insurance industry. Crump
Life Insurance Services (http://www.CrumpLifeInsurance.com) is the largest
wholesale distributor of services that support the sale of life related
insurance and annuity products. Crump's Ascensus (http://www.ascensus.com) is
the largest independent administrator for company-sponsored retirement plans,
offering every component of retirement plan infrastructure.
About Berkshire Hathaway, Inc.
Berkshire Hathaway, Inc. and its subsidiaries engage in a number of
diverse business activities including property and casualty insurance and
reinsurance, utilities and energy, finance, manufacturing, retailing and
services. Common stock of the company is listed on the New York Stock
Exchange, trading symbols BRK.A and BRK.B.
SOURCE Crump Insurance Services
