Peerless Insurance™ Introduces CUSTOM PROTECTOR™ and The Peerless Package Series™

New commercial product line delivers greater speed and flexibility to agents

Keene, N.H.  - February 4, 2008  – Peerless Insurance, a member of Liberty Mutual Group, today announced the introduction of CUSTOM PROTECTOR, a comprehensive array of property and liability coverages that can be customized for nearly 400 eligible classes.

In addition to expanded eligibility, CUSTOM PROTECTOR offers optional market segment endorsements for the following twelve industries: condominiums, contractors, food processors, garages, hotels/motels, manufacturers, office/lessors, religious organizations, restaurants, retailers, service providers, and wholesalers. Split-rated property and liability coverages allow for price adjustments to match a customer’s specific exposure. CUSTOM PROTECTOR is available to small to mid-sized businesses with receipts up to $15 million per location.

This new product rounds out the Peerless Package Series, the innovative solution for small to mid-sized commercial business. The Peerless Package Series consists of three products – BOP-COMMERCIAL PROTECTOR® , the new CUSTOM PROTECTOR, and the Comprehensive Business Package.

“The CUSTOM PROTECTOR gives our agents a far wider range of classes and more competitive pricing,” said Linda O’Donnell, vice president, Commercial Lines Underwriting, Peerless Insurance. “Agents will have a broader, more flexible product set to accommodate all account sizes in our commercial lines appetite. We’re also giving agents a tool that delivers greater efficiency and reduces the online submission process by about thirty percent.”

Supplementing these new products is an enhancement to Commercial IQ® , the company’s online quoting and policy application system, that simplifies product selection by directing agents’ new business to the Peerless product that best suits a customer’s needs. SmartNav™, the new pre-qualification tool within Commercial IQ, suggests the most appropriate product for a commercial risk after an agent selects a business class code and responds to a few basic eligibility questions.

BOP-COMMERCIAL PROTECTOR is a competitively-priced, package product that provides broad property and liability coverage in a single policy for small business accounts with receipts up to $8.5 million per location. Endorsements include: Property Extension, Liability Extension, and Employment Practices Liability.

Peerless Insurance also offers the Comprehensive Business Package, a policy designed for more complex middle-market accounts. Core coverages include Commercial General Liability Extension and a Property Extension Endorsement, with optional coverages for Equipment Breakdown, Employment Practices Liability, Business Income on an Actual Loss Sustained, Property Extension Plus Endorsement, as well as a complete portfolio of ISO coverage endorsements.  

About Peerless Insurance

With underwriting companies dating back to 1901, Peerless Insurance offers property and casualty products, including a comprehensive set of personal and commercial coverage, distributed only through appointed independent agents.  Headquartered in Keene, New Hampshire, Peerless Insurance offers insurance products in Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, and Vermont. 

Peerless Insurance is part of Liberty Mutual Agency Markets, a business unit of Liberty Mutual Group, consisting of property and casualty and specialty insurance carriers that distribute their products and services primarily through independent agents and brokers.  Liberty Mutual Group ranks 95 on the Fortune 500 list of the largest U.S. corporations based on 2006 revenues.  The company has financial strength ratings of A (Excellent) from the A.M. Best Company, A2 (Good) from Moody’s Investors Service, and A (Strong) from Standard & Poor’s.

Contact:

Christopher Goetcheus
 774-279-5923
[email protected]