Great American Insurance Group’s Executive Liability Division Acquires AUSCO Business
Great American Insurance Group’s Executive Liability Division is pleased to announce the acquisition of the Non Profit and Employment Practices Liability book of business from AUSCO, a division of Financial & Professional Risk Solutions, Inc., a subsidiary of Aon Corporation.
AUSCO has been providing management liability solutions for non-profit organizations since 1981. Since 2005, AUSCO and Great American’s Executive Liability Division have been partnering in this arena, with AUSCO acting as a managing general underwriter for Great American’s Executive Liability Division in selected industries.
Great American’s Executive Liability Division’s Chief Underwriting Officer, Jane Kornesczuk stated, “We have enjoyed a fruitful partnership over the past four years and we value the relationship that AUSCO has maintained with its clients over that time period. We are excited about the opportunity to have direct involvement in the business we are acquiring. The AUSCO book is a great addition to our existing and already substantial Non Profit and Employment Practices footprint in the market. The transition should be seamless for our insureds.”
This acquisition further strengthens the Executive Liability Division’s leadership position in the Non Profit and Employment Practices arena. Having underwritten Non Profit and Employment Practices Liability Insurance for almost 20 years, Great American’s Executive Liability Division prides itself on its best in class service (including but not limited to its state of the art www.execproquote.com on-line quoting tool), products and long term commitment to these niche markets.
About Great American’s Executive Liability Division
Great American’s Executive Liability Division, founded in 1986, offers independent agents and brokers a specialized facility for Directors’ and Officers’ Liability Insurance (“D & O”) and related management liability coverages. The Division offers coverage to a very broad range of insureds, from non-profit organizations and small family-owned businesses to large multi-national corporations. For more information about the Executive Liability Division, visit www.GreatAmericanELD.com.
Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialty commercial products for businesses, and in the sale of traditional fixed, indexed and variable annuities and a variety of supplemental insurance products. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for over 100 years (most recent rating evaluation effective on March 27, 2009). The members of the Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange and the Nasdaq Global Select Market under the symbol (“AFG”).