iwix.net Announces Partnerships with Five MGAs

June 26, 2000

iwix.net, an Internet specialty insurance marketplace, has announced partnerships with five major Managing General Agencies (MGAs), who will be offering specialty products on the site.

RA&MCO (representing Great American, Zurich Specialties London Limited and Insurance Company of the West), Market Axis Insurance Agency, Inc. (representing Reliance Insurance Company in 30 states), Brown & Brown (representing Clarendon National Insurance Co.), Peterson International Underwriters (representing various Lloyd’s syndicates) and Pacific Professional (representing MMI Companies and Safeco Select Markets) are now a part of the growing roster of companies in the iwix.net marketplace.

Products offered through RA&MCO will be Professional Liability and related coverages for Architects and Engineers, Environmental Consultants and Engineers, Construction Managers and Consultants, Design/Build Firms, Geotechnical Engineers, Testing Laboratories and Contractors. Market Axis will be offering Worker’s Comp coverages on a stand-alone monoline basis. Brown & Brown will be offering Lawyer’s Professional Liability to firms with 19 or fewer attorneys. Peterson will be offering Long Term Disability Coverages for professional actors, entertainers, athletes and high net worth individuals as well as International Medical Coverages that supplement government and private health plans that have geographic limitations. Pacific Professional will be offering hard to place Medical and Dental Malpractice Insurance.

According to iwix, the benefits of using iwix.net include: (1) instant accessibility to a wide variety of specialty insurance coverages, (2) the ability to tailor and match submissions to the appropriate insurers, (3) substantial savings on submissions by eliminating paper, couriers, etc., (4) “real world” functionality allowing both submissions via online forms and free-form written submissions and faxed paper documents, (5) free service, i.e. no fees, no access or software charges to agents. Also, there is no registration or subscription fee for insurance carriers to make their products available on the site.

iwix.net is an Internet-based specialty insurance transaction facility.

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