A Year after Naming The Hartford as a Preferred Business Insurance Provider, Association Adds the Company's Specialized Property and Casualty Products to Round out Member Needs
HARTFORD, Conn. -- The National Association of Wholesaler-Distributors (NAW) representing more than 40,000 wholesale distribution
Chosen as the NAW preferred carrier for standard commercial property and casualty insurance in 2005, The Hartford has been offering property, liability, auto and workers' compensation coverage to the association's wholesaler distributor network during the past year. The recent endorsement of Marine and Management Liability coverage will now make additional insurance protection not typically covered under a standard commercial insurance policy available to members.
Marine and Management Liability coverages are considered specialized commercial insurance products. They can be added to a standard commercial property and casualty policy as needed. Marine products include cargo insurance which protects goods being transported by air, land and sea. Hartford Financial Products, a unit of The Hartford, provides access to Management Liability coverage for businesses of all sizes and industries.
"Since the launch of the NAW/The Hartford partnership, we've worked closely with The Hartford to offer wholesaler distributors with comprehensive insurance products that meet their unique needs," said Dirk Van Dongen, NAW president. "Since many of our members have complex exposures, the recent endorsement of Marine products and Management Liability products like directors & officers and employment practices liability can better protect our members against a host of potential losses."
As part of the strategic alliance, NAW and The Hartford will reach out to wholesale distribution companies through The Hartford's extensive network of independent agents. NAW also will promote the program through the NAW's Web site http://www.naw.org.
"The complexity of wholesale distribution operations makes this industry more vulnerable to risk," explains Gary Thompson, executive vice president of Middle Market & Specialty Commercial at The Hartford. "Whether it involves damage to merchandise in shipment or an event that may cause an interruption to the normal business flow, wholesaler-distributors now have access to The Hartford's broad range of insurance products that can help them better plan and protect against the unexpected."
The National Association of Wholesaler-Distributors (NAW) is the Washington, DC-based trade association that represents the wholesale distribution industry. NAW is active in these areas: government relations and political action; research and education; and group purchasing. In addition to NAW, the association operates the Wholesaler-Distributor Political Action Committee, the Distribution Research & Education Foundation, and the NAW Service Corporation.
The Hartford, a Fortune 100 company, is one of the nation's largest financial services and insurance companies, with 2005 revenues of $27.1 billion. The Hartford is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, Brazil and the United Kingdom. The Hartford's Internet address is http://www.thehartford.com.
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Some of the statements in this release should be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These include statements about our future results of operations. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include, without limitation, those discussed in our Quarterly Reports on Form 10-Q, our 2005 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
The NAW Service Corporation receives compensation from The Hartford for NAW's endorsement and promotion of the commercial insurance products and services of The Hartford. NAW and NAW Service Corporation are not licensed insurance producers or agents of The Hartford. All Hartford insurance products and services are sold through licensed producers or independent agents of The Hartford.