Acordia to Feature its IRL Insurance Program at RIMS

9 April 1999

Acordia to Feature its IRL Insurance Program at RIMS

    INDIANAPOLIS--April 9, 1999--Acordia, Inc., America's largest privately held insurance brokerage firm, will be featuring the Indy Racing League "On Track Physical Damage Insurance Program" at this year's RIMS Conference.
    This is a crash damage program for race cars that was developed by "Acordia Motorsports," a joint venture between Acordia of Indiana, Inc. and Acordia of California, Inc.
    The Indy Racing League was founded in 1996 and rules were established to lower the cost of the Indy race cars to $400,000 and mandate their usage for three racing seasons in order to help the car owners with the rising cost of racing. This allowed Acordia to team up with an A+ Best Rated American Insurer to underwrite the coverage on these new cars.
    The claims handling process is the key to the success of this program. The Acordia/IRL team has worked very hard to acquire the professionals necessary to be able to repair or replace these cars at the most affordable level.
    Metro Racing Systems will have their show car at the RIMS Conference, as well as racing personnel on hand to answer any questions that may come up regarding racing or the IRL. "We are delighted to feature the IRL at our exhibit as evidence that our capabilities can handle unique to everyday client requirements," said Charles Ruoff, Acordia Senior Vice President and Chief Marketing Officer.
    "Metro Racing Systems is one of our best customers, purchasing not only the On Track Physical Damage, but also their Racing Shop, Automobile and Umbrella coverages from us," said Tom Johnson of Acordia. Metro Racing is unique in that the owner of the team is also the driver. Stan Wattles is a graduate of Lord Fairfax College in Virginia, with a degree in mechanical drafting. Stan initiated the "Racing to Make a Difference Program" in cooperation with the National Center for Learning Disabilities to increase public awareness and understanding of learning disabilities. He has quite an interest since he has overcome dyslexia, dysgraphia and perception difficulties.
    Acordia, Inc., headquartered in Indianapolis, Indiana, is America's largest privately held broker with more than 80 offices in North America. Its 3,000 insurance professionals place more than $3 billion of risk premiums with expertise in property, casualty, life and benefits.