NEW YORK, Dec. 15 /PRNewswire/ -- Crump Insurance Services, part of Crump Group, Inc., the nation's largest insurance wholesaler, has developed an innovative new form of commercial property coverage called propertyXsurance(TM). Crump has partnered with member companies of the Berkshire Hathaway Insurance Group to help buyers of property insurance deal more comprehensively with the consequences of a property loss. propertyXsurance(TM) is a stand-alone policy that pays for damages that occur in conjunction with an insured property loss but are not paid for by traditional property insurance. "We are happy to work with Crump to offer an insurance policy to help buyers address the unpaid 'collateral damages' associated with their property losses," said Scott Stirling, vice president of Berkshire Hathaway Reinsurance Group.
propertyXsurance(TM) provides funds over and above loss payments made under the insured's conventional insurance placement; subject to its policy terms and conditions, proof of loss is straightforward and payments may be used any way the insured sees fit. "With market dislocation, instability and security issues appearing in the headlines on a daily basis, propertyXsurance(TM) offers our retail producers a product that can bring a level of comfort to their clients -- underscored by the unquestioned strength of our carrier partner," said John Jennings, president of Crump Insurance Services.
"propertyXsurance(TM) is another example of our ongoing national new product development efforts. In addition to our core portfolio of insurance product offerings, Crump continues to be a leader in developing creative solutions for our retail partners," said Jennings.
For more information, or for an online quote, retail brokers may visit http://www.crumpins.com/ and select Online Products.
About Crump Insurance Services:
Crump Insurance Services is part of Crump Group, Inc. (http://www.crump.com/), the largest insurance wholesaler in the United States, and a leading U.S. provider of recordkeeping and support services to company- sponsored retirement plans. The commercial division of Crump Group, Crump Insurance Services (http://www.crumpins.com/ , http://www.5starsp.com/) is made up of legacy Crump brokerage offices and the former BISYS Commercial Insurance Services operations (5Star Specialty Programs and Tri-City Brokerage). Crump is among the largest U.S. providers of wholesale brokerage and specialty programs to the commercial property and casualty insurance industry. Crump Life Insurance Services (http://www.crumplifeinsurance.com/) is the largest wholesale distributor of services that support the sale of life related insurance and annuity products. Crump's Ascensus (http://www.ascensus.com/) is the largest independent administrator for company-sponsored retirement plans, offering every component of retirement plan infrastructure.
About Berkshire Hathaway, Inc.
Berkshire Hathaway, Inc. and its subsidiaries engage in a number of diverse business activities including property and casualty insurance and reinsurance, utilities and energy, finance, manufacturing, retailing and services. Common stock of the company is listed on the New York Stock Exchange, trading symbols BRK.A and BRK.B.
