Zurich North America Environmental Makes Deal to Purchase Renewal Rights for Kemper’s ECB

January 15, 2003

Zurich North America Environmental has come to an agreement-in-principle to acquire renewal rights to the existing policies of the Kemper Insurance Companies environmental casualty book of business.

“We are confident that Kemper’s environmental casualty business will enhance our offerings,” Kenneth Berger, executive vice president, Zurich North America Environmental and Design Professional Group, said. “Customers placing their policies with Zurich can expect the high level of service that they have received from Kemper, while benefiting from our wide array of environmental, casualty and design professional coverages.”

Zurich will immediately develop operating plans in consultation with Kemper Environmental. Upon completion of these plans, Zurich will expedite offering risk management solutions to customers and insurance producers requesting coverage with Zurich.

“This agreement is one in a series of steps Kemper is taking to become primarily a standard commercial lines insurance provider,” David Mathis, Kemper chairman and CEO, remarked. “While our environmental business has made excellent progress, the business is not in keeping with our long-term strategy.”

The agreement includes general liability, environmental impairment liability, contractor’s pollution liability, underground storage tank environmental liability, professional liability, commercial umbrella and commercial auto liability written through Kemper Environmental. Additional terms and conditions of the agreement were not disclosed.

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