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MarketScreener Homepage  >  Equities  >  Nyse  >  RLI Corp.    RLI

RLI CORP.

(RLI)
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RLI Corp. : RLI Marine to Pay Activation Fee on IRONwatch™ Equipment Anti-Theft Tracking Device for Insureds

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05/07/2012 | 04:05pm EDT

RLI Corp. (NYSE: RLI) announced that it will pay the theft activation fee for all of its RLI Marine policy holders who purchase and install an IRONwatchequipment tracking device serviced by the National Equipment Register (NER). This offer will help participating RLI Marine insureds reduce the recovery time and costs associated with stolen equipment.

"Theft is a major source of concern for both RLI and our customers," said Robert Schauer, President of RLI Marine. "We are pleased to be partnering with the NER to provide this offer and help our insureds nationwide combat equipment theft."

IRONwatch, a new wireless GPS tracking and recovery device designed for mobile heavy equipment, is offered exclusively through the NER, a member of the Verisk Analytics (Nasdaq:VRSK) family of companies. IRONwatch utilizes a unique sleeping SIM card which enables the device to be left in sleep mode until it needs to be activated to locate a missing piece of equipment. IRONwatch is supported by a 24-hour call center that uses the NER's extensive experience to support the investigation and recovery of stolen equipment. With this support system, IRONwatch is able to quickly deliver accurate location and recovery information to equipment owners and law enforcement for misplaced or stolen equipment.

RLI Marine will pay the activation fee every time an insured's IRONwatch device is activated and a theft is reported to law enforcement. There are no monthly monitoring fees associated with using the IRONwatch device, making it an effective, low-cost solution for equipment protection and recovery.

RLI, a specialty insurance company, offers a diversified portfolio of property and casualty coverages and surety bonds serving niche or underserved markets. RLI operates in all 50 states from office locations across the country. RLI's insurance 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. Contractors Bonding and Insurance Company is rated A "Excellent" by A.M. Best Company.

For additional information, contact Bob Schauer, President, RLI Marine at (212) 626-7734 or at robert.schauer@rlicorp.com or visit the RLI Marine website at www.rlimarine.com.

RLI Marine
Bob Schauer, (212) 626-7734
Robert.Schauer@rlicorp.com
www.rlimarine.com


© Business Wire 2012
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Financials (USD)
Sales 2020 903 M - -
Net income 2020 83,4 M - -
Net Debt 2020 - - -
P/E ratio 2020 51,0x
Yield 2020 2,11%
Capitalization 4 147 M 4 147 M -
Capi. / Sales 2020 4,59x
Capi. / Sales 2021 4,18x
Nbr of Employees 894
Free-Float 63,3%
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Mean consensus OUTPERFORM
Number of Analysts 6
Average target price 97,75 $
Last Close Price 92,26 $
Spread / Highest target 12,7%
Spread / Average Target 5,95%
Spread / Lowest Target -0,28%
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NameTitle
Jonathan E. Michael Chairman & Chief Executive Officer
Craig William Kliethermes President & Chief Operating Officer
Todd Wayne Bryant Chief Financial Officer & Vice President
Bryan T. Fowler Chief Information Officer & Vice President
John Thomas Baily Independent Director
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