Fireman's Fund Gets Entertainment Coalition Renewal Rights

Fireman's Fund Insurance Co. has taken a step to, as it says "demonstrate its commitment to being the top insurer for the movie and television industries."

In a deal worked out last week with CNA and Aon, Fireman's Fund will buy the renewal rights to the Entertainment Coalition's book of business. This transaction could be complete by the end of March 1999.

The Entertainment Coalition is a program manager, with ties to CNA Financial Corp. and Aon, offering entertainment insurance and financial products to the motion picture, television, music and theater industries. It has an estimated $50 million in annual written premiums.

Fireman's Fund has insured big-name movies dating back to the days of silent films. "Through this agreement, we are making a strong statement to the entertainment industry that we not only want to be the insurer of choice, but want to serve this market for the long haul," stated Bob Bailey, vice president of the Entertainment Division at Fireman's Fund.

"We are excited about this transaction, and have been pleased with the enthusiastic support of key brokers, including Aon/Albert G. Ruben. We look forward to expanding what we see as a very important business relationship with Aon/Ruben," said Tom Rowe, president of Fireman's Fund's Commercial Insurance Division.

Fireman's Fund says it has had an experienced staff dedicated solely to entertainment accounts for 75 years. By making this investment, Fireman's Fund says it will further increase its capacity and be able to support the full complement of expertise needed to underwrite and service all coverage aspects for entertainment clients.

The Entertainment Coalition operates as a strategic business unit in CNA's Specialty Operations Group. Aon is a leading insurance brokerage, consulting services and consumer insurance underwriting organization.

"This transaction is in keeping with CNA's strategic goal to better focus on its core businesses," said Tom Taylor, president and chief operating officer for CNA's Specialty Operations Department. "It's important that our customers be able to easily renew their policies with a quality company such as Fireman's Fund."