Unico American Corporation (NASDAQ: UNAM) (“Unico,” the “Company”) announced today its engagement of the Wyde Corporation to deploy a new policy administration system for the Company’s Crusader Insurance Company subsidiary as well as to support other subsidiary operations.
“Configuration and implementation work just got started.” Cary Cheldin, Unico’s Chairman and Chief Executive Officer also said, “For the foreseeable future, this fully web-enabled, open-architecture platform should support every dream imaginable, enabling us to meet and exceed the expectations of our agents and our customers while the insurance business and the buying habits of people continue to change. Our selection of the Wyde Corporation and of their Wynsure product is the result of an exhaustive search which we began two years ago. We believe that the Wynsure product is vastly superior to that offered by most other firms. The new system will replace our legacy system, which will be phased out over several years.”
The Wyde Corporation is headquartered in the Minneapolis/St. Paul area. Additional offices are in Canada and Europe. For further information about the Wyde Corporation, visit www.wyde.com.
Headquartered in Woodland Hills, California, Unico is an insurance holding company that underwrites property and casualty insurance through its insurance company subsidiary; provides property, casualty and health insurance through its agency subsidiaries; and through its other subsidiaries provides insurance premium financing and membership association services. Unico has conducted the majority of its operations through its subsidiary Crusader Insurance Company since 1985. For more information concerning Crusader Insurance Company, please visit Crusader’s website at www.crusaderinsurance.com.Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Certain statements contained herein that are not historical facts are forward-looking. These statements, which may be identified by forward-looking words or phrases such as “anticipate,” “believe,” ”expect,” “intend,” “may,” “should,” and “would,” involve risks and uncertainties, many of which are beyond the control of the Company. Such risks and uncertainties could cause actual results to differ materially from these forward-looking statements. Factors which could cause actual results to differ materially include underwriting actions not being effective, rate increases for coverages not being sufficient, premium rate adequacy relating to competition or regulation, actual versus estimated claim experience, regulatory changes or developments, unforeseen calamities, general market conditions, and the Company’s ability to introduce new profitable products.