LeasingDesk Insurance Announces Multifamily Renter's Insurance Agreement with American Modern Insurance Group

Provides Benefits to Owners and Residents Never Before Available in Multifamily Industry

IRVINE, CA (June 16, 2005) – LeasingDesk Insurance today announced an agreement with American Modern Insurance Group that would allow LeasingDesk Insurance to offer a renter's and liability insurance product for multifamily residents in all 50 states.

Dirk Wakeham, president and CEO of LeasingDesk Insurance, said that the arrangement makes it possible for his company to offer a truly unique, high quality, affordably priced eRenterPlan program to its customers.

Because of our new relationship with American Modern, we are able to offer our preferred renter's insurance product ? eRenterPlan ? in all 50 states and in all apartment markets,” Wakeham said. “And, as best as I can tell, this is a first for the industry.”

LeasingDesk Insurance is the only multifamily insurance company apartment owners can turn to and have all their properties' and residents' renter's and liability insurance handled by one company. Plus, residents can now keep their coverage with the same company when they move to another state.”

American Modern is a respected and established leader in the specialty insurance market, with an A.M. Best Company rating of A+ ( Superior ). The underwriter, which has nearly 1.3 million policies in force, has also been recognized for six consecutive years as one of the Ward Financial Group's Top 50 property and casualty insurers in America .

The agreement between American Modern and LeasingDesk Insurance was three years in the making, according to David Cissell, executive vice president of American Modern Financial Services, a subsidiary of the Group. He said that insurance companies typically don't want to underwrite renter's insurance unless it can lead to homeowners or auto insurance as well.

However, he added that American Modern was attracted to LeasingDesk Insurance because of its advanced technology platform that allows online insurance enrollment and administration at www.eRenterPlan.com , as well as LeasingDesk Insurance's superior distribution approach.

We saw an incredible opportunity to underwrite renter's and liability insurance for a company that truly knows the multifamily industry and meets the needs of owners and residents,” said Cissell. “LeasingDesk Insurance is a very forward-thinking company as demonstrated by its technology, service, training and marketing.”

To schedule an interview with Dirk Wakeham or with American Modern Insurance Group or for more information about LeasingDesk Insurance, please contact Kristina Van Doorn at Kristina@linnelltaylor.com or 303.684.0300 ext. 124.

About LeasingDesk Insurance

LeasingDesk Insurance is the leader in resident insurance programs for the multi-housing industry specializing in affordable and easy-to-implement renter's and liability insurance products. L easingDesk Insurance provides a valuable risk management tool that increases NOI by eliminating exposure from resident negligence, thus reducing costs affiliated with non-deductible resident claims. For more information about LeasingDesk's customized insurance programs, visit www.leasingdesk.com or contact (949) 809-7000 or sales@leasingdesk.com .

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