11/2003
Amber Cousins or Tara Rio Contact: 800-796-8448

Balboa’s Non-Underwritten Renters Insurance Program Offers Immediate Approval Capabilities

IRVINE, CA (November 2003) – Balboa Insurance Group, Inc. (BIG) today announced new delivery methods for a highly efficient renters insurance program, by two of its insurance company subsidiaries, designed to meet the immediate needs of both insurance agents and renters. The renters insurance program will be offered to customers of financial institutions, auto insurance companies and apartment communities looking to supplement their product offerings.

BIG's insurers have created a renters insurance program that dramatically simplifies the application process for agents and renters alike. The non-underwritten policies allow for immediate approval with only minimal information, including the customer's name, address and billing account information. In addition, the simple application and rate structure make it easy to understand and explain. Convenient monthly payments or annual payments may be made via credit or debit card.

“For more than half a century, we have been meeting the unique insurance needs of financial institutions nationwide ,” said Drew Gissinger, managing director and president of Balboa Insurance Group. “ Once again, BIG's insurers are leading the industry with the development of a high-quality, cost-effective method of serving the growing needs of renters.”

Continuing its commitment to deliver the most attractive products to its partners, BIG increased its focus on the renters market to accommodate growing interest. Census data estimates that 35 to 40 percent of U.S. households are renters, representing more than 30 million households. Of those, only approximately 20-25 percent currently have renters insurance* creating a large, underserved market of potential policyholders.

BIG has utilized its nearly 20 years of experience in the renters insurance market to create an efficient and easy-to-use Web-based application designed for insurance agents to use during the application process. This application, coupled with advanced claims processing technology, creates an efficient, cost-effective environment that delivers high levels of customer service.

Our proprietary renters insurance Web site, www.RentersIns.com , provides product information, an instant premium quote and online application capabilities. Unlike most renters insurance sites, insurance agents visiting the Web site can complete the entire application process online. We also provide an “out of the box” solution for clients who wish to link to a co-branded renters Web site. With a distinct URL assignment, the site allows for easy tracking and can be customized to meet distinct partner needs.

About Balboa Insurance Group, Inc.
Insurance company subsidiaries of Balboa Insurance Group, Inc. (BIG), which is a subsidiary of Countrywide Financial Corporation, have been offering insurance products for more than half a century. BIG's insurance company subsidiaries, which are known collectively as the Balboa Life & Casualty group, consist of Balboa Insurance Company, Meritplan Insurance Company, Newport Insurance Company, Balboa Lloyds Insurance Company, Balboa Life Insurance Company and Balboa Life Insurance Company of New York . The Balboa Life & Casualty group is rated "A" (Excellent) by the A.M. Best Company, an insurance rating and information source. An "A" rating represents A.M. Best's opinion that the Balboa Life & Casualty insurance companies have an excellent ability to meet ongoing obligations to policyholders. Balboa Life & Casualty is headquartered in Irvine , California , and has a network of sales and service centers throughout the country. To learn more about Balboa Life & Casualty, please visit www.balboainsurance.com.

*According to the Insurance Information Institute, 2002

Basic renters insurance underwritten by Balboa Insurance Company (Meritplan Insurance Company in CA and LA). Not available in all states.

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