San Antonio – Trident Insurance Services, LLC, a wholly owned subsidiary of Argonaut Group, Inc. (NASDAQ: AGII) announced at the annual National Association of Professional Surplus Lines Offices, Ltd. (NAPSLO) convention that it has extended its Identity Recovery Coverage to college and university customers. Beginning in April 2005, Trident Insurance first offered its public entity customers the Identity Recovery Coverage. Due to the high level of interest, positive response, and successful writings with public entities, Trident has added the coverage to its offerings of products designed for its College and University customers. For colleges and universities, the Identity Recovery Coverage protects faculty, employees, and students.
Identity Theft is America’s fastest growing crime with half of the publicized incidents of data breach since January 2005 occurring at universities, according to the San Diego-based Identity Theft Resource Center. Trident’s coverage provides its college and university customers a cost effective method of minimizing damage by combining identity theft insurance with a concierge service to assist identity theft victims in restoring their credit history and identity records. By utilizing the customized service, Trident’s coverage both reimburses victims for costs incurred to resolve problems resulting from identity theft as well as assisting the claimant through the challenging and time consuming effort of recovering credit and identity.
Trident has partnered with The Hartford Steam Boiler Inspection and Insurance Company (HSB), a part of HSB Group, Inc., a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG) in offering identity recovery insurance as a standard part of its coverage for public entities and colleges and universities.
Trident President, Michael Arledge, stated, “Trident recognizes the seriousness and consequences of Identity Theft and we are proud to extend our coverage to colleges and universities. Our coverage focuses on recovery assistance for the victim and provides a case manager to assist the victim in correcting credit history and identity records. Other insurers provide identity recovery coverage but we are unmatched in offering the customized service that truly aids victims.”
Added Mark MacGougan, Vice President and Product Manager for HSB’s Identity Recovery Program, “We are pleased to be partnered with Trident as it expands its coverage for colleges and universities. Most identity products make the victim responsible for the work to restore their credit and identity records. Yet, many people are unfamiliar with the process. That’s a distraction that a university can’t afford.”
FORWARD-LOOKING STATEMENTS DISCLOSURE
This news release may contain “forward-looking statements” which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that actual developments will be those anticipated by the Company. Actual results may differ materially from those projected as a result of significant risks and uncertainties, including non-receipt of the expected payments, changes in interest rates, effect of the performance of financial markets on investment income and fair values of investments, development of claims and the effect on loss reserves, accuracy in projecting loss reserves, the impact of competition and pricing environments, changes in the demand for the Company’s products, the effect of general economic conditions, adverse state and federal legislation, regulations and regulatory investigations into industry practices, developments relating to existing agreements, heightened competition, changes in pricing environments, and changes in asset valuations. For a more detailed discussion of risks and uncertainties, see the Company’s public filings made with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statements.
ABOUT ARGONAUT GROUP, INC.
Headquartered in San Antonio, Argonaut Group, Inc. (NASDAQ: AGII) is a national underwriter of specialty insurance products in niche areas of the property and casualty market with assets of approximately $3.2 billion. Through its operating subsidiaries, Argonaut Group offers high quality customer service in programs tailored to the needs of its customers’ business and risk management strategies. Collectively, Colony Group, Argonaut Specialty, Rockwood Casualty Group, Argonaut Insurance Company, Great Central Insurance, Grocers Insurance, and Trident Insurance Services underwrite a full line of products in four primary areas: Excess and Surplus, Select Markets, Risk Management, and Public Entity. Information on Argonaut Group and its subsidiaries is available at www.argonautgroup.com.
For more information regarding this news release, please contact Lou Verdile, Vice President of Marketing at 210-366-5782.
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