PENNINGTON, N.J., Aug. 25, 2010 (GLOBE NEWSWIRE) -- Principle Security International, Inc. (OTCBB:PCPZ), through its wholly owned subsidiary Sangamon Associates, Inc., announced today that their Franchised Hotel/Motel Umbrella Program is now available in all 50 states. The program is backed by an "A" rated insurance company and it offers commercial umbrella insurance policies to limited-service, franchised hotels and motels. The program is open to all agents.
According to Bill Cleave, President of Sangamon, "Our goal with this program was to be able to provide a comprehensive umbrella product from a solid carrier in all states. Further, we designed the product to provide straight-forward pricing via a streamlined submission process. The feedback we have received from agents thus far has been extremely positive."
Mr. Cleave encourages agents to learn more about the program at the program's website: www.platinumleisure.com. The website includes a wealth of information on the program, as well as a "quick indication" engine that provides a non-binding pricing indication in seconds.
Sangamon Associates, Inc. is part of the Leeward Group of Companies. Sangamon works with associations to develop specialty insurance programs for their particular industry or insurance need. The Franchise Hotel Umbrella Program is only one of the programs offered by the Company.
Principle Security International, Inc. through its wholly owned subsidiaries Leeward Group, Inc., Sangamon Associates, Inc., Flagship Insurance Agency, Inc., and Leeward Insurance Agency, Inc. operates a full-service insurance agency and consulting firm serving businesses and individuals throughout the Northeastern United States.
The Company is based in Pennington, New Jersey and it has five retail locations. Three of the locations are in New England while the other two are in the Mid-Atlantic. With licenses in all 50 States, the Company offers Property & Casualty, Life & Health and specialty insurance programs for business, individuals, associations and groups throughout the United States.
Forward-looking statements:
This press release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to: the marketability or success of the Franchised Hotel/Motel Umbrella Program or that it will gain acceptance with insurance agents throughout the United States. The user should read statements that contain these words carefully because they discuss future expectations, contain projections of future results of operations or of financial condition, or state other forward-looking information. The risk factors listed in our disclosure documents provide examples of risks, uncertainties and events that may cause actual results to differ materially from the expectations and projections described by the Company in its forward-looking statements. Actual results relating to, among other things, reserves, results of exploration, capital costs and production costs could differ materially from those currently anticipated in such statements. Factors affecting forward-looking statements include: changes in anticipated acquisition and operating costs; changes in economic conditions and conditions in the insurance industry and other financial markets; changes in the interest rates on borrowings; hedging activities; changes in the prices for services that the Company provides; litigation; legislation; environmental, judicial, regulatory, political and competitive developments in areas in which the Company operates; technological, mechanical and operational difficulties encountered in connection with the Company's activities; and labour relation matters and costs. The user should refer to the risk disclosures set out in the periodic reports and other disclosure documents filed by the Company from time to time with the Securities and Exchange Commission and other regulatory authorities.