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The Morgan Group Renews Liability Insurance With Liberty Mutual

    ELKHART, Ind.--July 13, 2001--The Morgan Group, Inc. (AMEX:MG) today announced the renewal of its primary liability insurance with Liberty Mutual Group effective July 1, 2001.
    Since 1996, Liberty Mutual has underwritten Morgan's automobile (trucker's) liability insurance as well as workers' compensation and a full line of insurance products for Morgan's independent contractors.
    Anthony T. Castor, III, President and Chief Executive Officer of The Morgan Group, commented, "The long-term relationship that Morgan has enjoyed with Liberty Mutual has been important to us in many different areas, including customer marketing, safety, training, claims management and business diversification. Liberty Mutual is a very solid organization and has been a key strategic partner for Morgan."
    The renewal was managed by the Lockton Companies, one of the nation's largest insurance brokerage firms and a leader in providing risk management solutions for trucking companies. John Mundy, Senior Executive Vice President at Lockton Companies, also commented on the renewal. "We are delighted to have Liberty continue as primary underwriters for Morgan. Over the last eighteen months the Company has implemented a business plan that includes a substantial commitment to further enhancing safety performance -- essential in today's transportation environment. We feel Morgan's demonstrated improvement in accident frequency per mile driven was a positive factor in the renewal process."
    The Morgan Group, Inc., through its subsidiaries Morgan Drive Away, Inc., and TDI, Inc. ("Morgan Drive Away"), is the nation's largest company managing the delivery of manufactured homes, commercial vehicles and specialized equipment in the United States.
    This press release contains forward-looking statements, including initiatives relating to profitability. Such statements are subject to a number of material factors that could cause the statements or projections contained therein to be materially inaccurate. Such factors include, without limitation, successful implementation of profit initiatives, overall economic conditions, competition for customers and drivers, and risks associated with business operations, acquisitions, expansion into new business lines, and changes in the regulatory environment.