RLI Creates New Fidelity Division

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RLI Corp. (NYSE:RLI) - RLI announces the creation of its newest product group, RLI Fidelity, which will focus on financial fidelity and commercial crime insurance products. The new division will be based in New York City, and will be led by Mike Beranek, a 17-year veteran of the insurance industry, as Vice President. Beranek will be joined by 25-year veteran Joe Prystupa, as Assistant Vice President.

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Mike's highly experienced team will help us gain a foothold in this industry niche. They are perfectly suited to enhance RLI's reputation for providing innovative solutions to our producer network by identifying underserved or poorly served accounts and offering outstanding risk analysis, coverage design and claim service.

Through this new operation, RLI will offer customized coverage as well as a full array of standard financial institution bonds and commercial crime policies.

RLI Insurance Company President & COO, Michael Stone, said, "Mike's highly experienced team will help us gain a foothold in this industry niche. They are perfectly suited to enhance RLI's reputation for providing innovative solutions to our producer network by identifying underserved or poorly served accounts and offering outstanding risk analysis, coverage design and claim service." Stone explained that RLI expects to quickly become a recognized "go-to" provider for fidelity and commercial crime insurance. RLI Fidelity expects to be an admitted insurer on both a primary and excess basis in all 50 states and will begin accepting submissions in the coming months. RLI Insurance Company is an approved surety by the United States Department of Treasury with an approved treasury limit of $71,511,000.

RLI is a specialty insurance company serving "niche" or underserved markets. Its proven, superior underwriting model creates the flexibility to write unique coverages in a wide array of diverse industries. RLI's subsidiaries - RLI Insurance Company, Mt. Hawley Insurance Company and RLI Indemnity Company - are rated A+ "Superior" by A.M. Best Company and A+ "Strong" by Standard & Poor's. RLI operates in all 50 states from office locations across the country.

For additional information, contact Mike Beranek (973) 600-6843 or at mike.beranek@rlicorp.com or visit the RLI Fidelity website at http://www.rli-fidelity.com.

Release Summary:

RLI announces the creation of its newest product group, RLI Fidelity, which will focus on financial fidelity and commercial crime insurance products.

Keyword Tags:

commercial crime insurance, fidelity, fidelity financial

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Mike Beranek
RLI Corp.
(973) 600-6843
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