Atlanta, March 15, 2012—Assurant Specialty Property, a unit of Assurant, Inc. (NYSE: AIZ) and leading provider of specialty insurance services, today updated its statement from President and CEO Gene Mergelmeyer, related to the final settlements between participating mortgage servicers and state attorneys general filed in U.S. court in Washington, DC on Tuesday.
"We welcome the settlements between the participating mortgage servicers and the state attorneys general and hope that they are a further catalyst to moving forward to a more stable mortgage environment. Based on the publicly available detailed settlement documents and response from our clients, while there may be some minor adjustments to procedures, it appears the servicing standards imposed on the mortgage servicers are generally consistent with our practices in lender-placed homeowners insurance. Assurant Specialty Property employs industry-leading practices to track loans and ensure uninterrupted insurance coverage on the homes in the portfolios of our mortgage-servicer clients. We remain focused on delivering superior service to homeowners and our clients-and with our disciplined approach and strong procedures, providing continuous protection to homeowners and lenders."
About Assurant Specialty Property
Assurant Specialty Property is a leading provider of insurance services in partnership with financial institutions, mortgage lenders, manufactured home sellers, auto finance companies, property managers and their customers. Services include insurance tracking and management, lender-placed homeowners insurance, and property and personal coverage such as renters, farm and flood insurance. Assurant Specialty Property serves clients and customers in all 50 states.
Assurant Specialty Property is part of Assurant, a premier provider of specialized insurance products and related services in North America and select worldwide markets. Assurant, a Fortune 500 company and a member of the S&P 500, is traded on the New York Stock Exchange under the symbol AIZ. Assurant has approximately $27 billion in assets and $8 billion in annual revenue. www.assurant.com.
SAFE HARBOR STATEMENT
Some of the statements included herein, particularly our comments on the recent settlement described above, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on management's best estimates, assumptions and projections and are subject to significant uncertainties. Actual results may differ materially from those projected in the forward-looking statements. The Company undertakes no obligation to update any forward-looking statements in this statement as a result of new information or future events or developments. For a detailed discussion of the general risk factors that could affect the Company's results, please refer to the risk factors identified in the Company's annual and periodic reports, including but not limited to its 2010 Annual Report on Form 10-K, as filed with the U.S. Securities and Exchange Commission.
Media Contact:
Robert Byrd
Senior Director, Communications
Assurant Specialty Property
770-763-2319