TAMPA, Fla., Oct. 15 /PRNewswire/ -- Brown & Brown, Inc. (NYSE: BRO), one of the nation's largest wholesale program agents, has joined forces with Starlink Logistics, Inc., Electronic Data Systems, Inc. (NYSE: EDS), and an impressive roster of cargo insurance underwriters in order to offer our most compelling program to date. This program, called StarProtect(TM), combines satellite-based vehicle tracking technology, world-leading vehicle location and call center support, and a highly rated cargo insurance package. StarProtect(TM) will offer the transportation business a risk management tool unequaled within the industry.
StarVision(TM) utilizes public and private satellite communication systems, the Internet, and a host of strategic service providers to deliver the market's most comprehensive vehicle location system, deliverable throughout the world. In its entirety, StarVision(TM) delivers an invisible 24/7/365-security system around mobile assets and cargo. This system protects shipments from theft, vandalism, and mysterious disappearance, one of the leading causes of loss for cargo. StarVision(TM) will not only reduce losses for insurance companies, but also will reduce deductible payments and increase customer goodwill for transportation companies. Together, StarVision(TM) and StarProtect(TM) can address this industry's challenging cargo insurance needs. With the increased cost of insurance and the current market conditions, we believe we have entered the cargo market at the perfect time.
StarProtect(TM) has put together a team of insurance companies interested in writing Cargo Insurance for clients who utilize the StarVision(TM) technology. These companies include some of the largest and most prestigious insurance companies in the industry. All the companies are rated A (XII) or better by A.M. Bests. Together these companies will provide the opportunity to insure large, medium and small fleets that transport a wide range of commodities, including commodities normally considered very difficult to insure.
"Working with several carriers, we are able to bring insurance coverage to clients of every size. Additionally, we are positioned to help bring more affordable protection to our clients at a time when insurance costs are on the rise. This will be accomplished by utilizing our loss-reducing StarVision(TM) technology," said Ken Petersen, President of Commercial Programs. "We will work closely with the agent and client to help implement a risk management strategy that includes the very latest satellite tracking technology, the very best in insurance protection, at a reasonable cost."
Brown & Brown, Inc. - Commercial Programs Division, located in Tampa, Florida, is among the nation's leading program administrators and wholesale insurance agents. Operating through our network of over 700 independent agents located throughout the United States, Commercial Programs is committed to having the insurance products of choice for agents, business clients, and insurance carrier partners in specific market segments. By utilizing risk management techniques, Commercial Programs is able to deliver a quality insurance product at a competitive price. This approach has also proven more profitable for insurance carriers, who can reduce loss costs and focus on a specific segment of the business.
Starlink Logistics, Inc. - Starlink Logistics, Inc. provides global, affordable mobile asset location and tracking systems by integrating the industry's "best-of-the-best" and proprietary technologies in order to deliver an effective, easy-to-use and accurate mobile asset security systems. Starlink uses the Internet to connect these mobile assets to their owners by using a variety of advanced wireless platforms including satellite, cellular and developing technologies. With a distribution network reaching to six continents and worldwide strategic partners, Starlink Logistics provides complete solutions for a variety of industries and applications.
Electronic Data Systems, Inc. - EDS (NYSE: EDS), the leading global services company, provides strategy, implementation and hosting for clients managing the business and technology complexities of the digital economy. EDS brings together the world's best technologies to address critical client business imperatives. It helps clients eliminate boundaries, collaborate in new ways, establish their customers' trust and continuously seek improvement. EDS, with its management consulting subsidiary, A.T. Kearney, serves the world's leading companies and governments in 55 countries. EDS reported revenues of $19.2 billion in 2000. The company's stock is traded on the New York Stock Exchange and the London Stock Exchange. Learn more at www.eds.com.
Additional information about Brown & Brown may be found at http://www.bbinsurance.com. For more information about StarProtect(TM), contact Linda Hammond at 813/222-4029 or e-mail at: linda.hammond@protectorplan.com.
Brown & Brown, Inc. and its subsidiaries provide a broad range of insurance and reinsurance products and services, as well as risk management, employee benefit administration, and managed health care services through offices located across the United States. The company is ranked by Business Insurance magazine as the nation's eighth largest independent insurance intermediary organization. Our Web address is http://www.bbinsurance.com.
This press release may contain certain statements relating to future results which are forward-looking statements. These statements are not historical facts, but instead represent only the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. It is possible that the Company's actual results and financial condition may differ, possibly materially, from the anticipated results and financial condition indicated in these forward-looking statements. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, are contained in the Company's filings with the Securities and Exchange Commission. Some factors include: general economic conditions around the country, downward commercial property and casualty premium pressures, the competitive environment, and the potential occurrence of a disaster that affects certain areas of the States of Arizona, Florida and/or New York, where significant portions of the Company's business are concentrated. All forward-looking statements included in this press release are made only as of the date of this press release, and we do not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.
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SOURCE Brown & Brown, Inc.
Web site: http: //www.bbinsurance.com
CONTACT: Linda Hammond of Brown & Brown, +1-813-222-4029, or linda.hammond@protectorplan.com