N.Y.’s Marshall & Sterling Joins RiskProNet Network

August 10, 2004

Marshall & Sterling, Inc., one of New York’s largest regional insurance firms, has joined RiskProNet International, Inc., a network of 29 independent brokers across the United States and Canada.

Founded in Poughkeepsie in 1864, Marshall & Sterling today has 15 branch offices and more than 200 employees in New York state generating revenues in excess of $40 million.

In 1977 the firm formed an employee stock ownership plan, which gradually acquired shares from the owners. As of 2002 employees owned 100 percent of the corporation.

Marshall & Sterling offers both personal lines and commercial lines for small, medium and large businesses. Specialties include mortality insurance for thoroughbred horses and insurance for financial service businesses such as armored-car companies, money transmitters and check-cashing stores. Marshall & Sterling also is a major provider of insurance programs for municipalities of all sizes.

“Membership in RiskProNet gives us an opportunity to expand our base by offering coverage to clients with operations throughout the country,” said James Wellock, Marshall & Sterling vice president. “We have attended RiskProNet meetings and liked the people we met. We believe their professionalism will be a strong asset to our offices.”

RiskProNet’s 29 partners last year had combined revenues of $530 million. Each of the 29 partners is an equal owner in the association. Total written premiums in 2003 were more than $4.8 billion.

Other RiskProNet members are AH&T Insurance, Va.; Associated Financial Group dba CFG Insurance Services, Inc., Minn.; Brady, Chapman, Holland & Assoc., Texas; Cambridge Underwriters, Mich.; C.J. McCarthy Insurance Agency, Inc., Mass.; Dawson Companies, Ohio; Diversified Risk Insurance Brokers, Calif.; Eustis Insurance, La.; J.W. Flynn Company, Ind.; Herbert L. Jamison Company, N.J; Interlink Partners, LLC, Texas; Johnson, Kendall & Johnson, Inc., Pa.; Litchfield Insurance Group, Conn.; J. Smith Lanier, Ga.; Merritt & McKenzie, Ga.; Mesirow Insurance Services, Inc., Ill.; Mortenson, Matzelle & Meldrum, Inc., Wisc.; Wick Pilcher Insurance, Ariz.; Rebsamen Insurance, Ark.; Reynolds & Reynolds, Iowa; Sterling & Sterling, Inc., N.Y.; SullivanCurtisMonroe Insurance Brokers, Calif.; Sullivan & Curtis of Washington, LLC, Wash.; Talbot Agency, N.M.; Tanner Insurance Brokers, Inc., Calif.; J.W. Terrill, Inc., Mo.; and Watson Insurance, N.C. B.F. Lorenzetti & Assn. is based in Toronto, Canada.

RiskProNet International is headquartered in Menlo Park, Calif.

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