Peerless Insurance™ Issues First Massachusetts Personal Auto Policy

Introduces Full Personal Lines Coverages & Services via Agent Force

Keene, N.H. - June 19, 2008 – Peerless Insurance, a Liberty Mutual Agency Markets regional company, this week issued its first Massachusetts personal auto insurance policy in more than twenty years.

After announcing last November its intention to re-enter the Massachusetts marketplace under the new managed competition auto insurance system, Peerless Insurance issued its first auto policy through Berkshire Insurance Group, Inc. an agency in western Massachusetts with ten full-service locations.

“We are absolutely delighted to be back and look forward to providing consumers with another quality choice in the marketplace,” said Michael Christiansen, president and chief executive officer, Peerless Insurance. “Based on our success and tradition in the Northeast, we know the value our customers place in working with our independent agents to understand and choose their coverages.”

In addition to offering competitive rates, Peerless Insurance will provide substantial discounts to its new policyholders, including account credits for auto (15%) and home (10%), and auto discounts for annual mileage, driver training, driving years, good students, multi-car, and tenure. All auto policies come with a Special Provisions Endorsement, which provides New Car Replacement and Mechanical Parts Replacement for no additional premium. The company also offers first accident forgiveness, diminishing deductibles, and a package of enhanced coverages with its Ultra-Plus Endorsement.

Peerless Insurance has approximately 250 agent locations throughout Massachusetts. The company is piloting its personal lines offerings this month and anticipates rolling-out its products and services to the full agent force in early July. Mr. Ross Gorman, president, Berkshire Insurance Group, issued the company’s first policy, as one of ten piloting agencies.

“Peerless has a great track record for making it easy for us to quote and issue business on the commercial side, and we are thrilled they are making the same technology investment for personal lines in Massachusetts,” said Mr. Gorman, who has been a Peerless appointed agent since 2001.

In addition to plans to increase its agent force in the coming years, Peerless Insurance intends to add as many as forty Massachusetts-based employees to its claims, underwriting, marketing, and information technology operations between now and the end of 2010.

In its eight state Northeast territory, Peerless Insurance ranks eighth for personal lines market share among companies that sell products through independent agents. In 2007, the company wrote more than$1 billion in commercial and personal lines premium in its territory, with approximately $67 million in commercial lines premium in Massachusetts. 

Consumers who would like a rate quote or wish to learn more about Peerless Insurance products and services can go to www.peerless-ins.com and locate an agent from the search engine on the home page. Agents who are interested in obtaining an appointment with Peerless Insurance may contact Mr. Robert Rooney, vice president, Marketing at 603-358-4453 or Mr. Tim Hall, regional vice president, Massachusetts at 603-357-9520.          

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 94 on the Fortune 500 list of the largest U.S. corporations based on 2007 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]