Broadspire News

Broadspire and Highmark Life & Casualty join forces to offer powerful disability coverage

PLANTATION , FLA. AND PITTSBURGH , PA., ( March 9, 2005 ) - In a rare alliance of two market-driven organizations, Broadspire, a Platinum Equity company, and Highmark Life & Casualty (HLC) are combining their individual strengths to co-market short- and long-term disability insurance to large employers.

Under the arrangement, Highmark Life & Casualty contributes its underwriting expertise and provides the insurance coverage, while Broadspire brings its responsive claims management and service capabilities to the accounts.

"This partnership brings together two recognized companies offering their strengths to the disability marketplace," said Peg Haennicke, president of Broadspire's disability services organization. "Highmark Life & Casualty is responsive to the existing and emerging needs of the marketplace, making it a leader in providing disability solutions for employers. And Broadspire has a well-earned reputation as an innovative, service-oriented company whose mission is to reduce the cost and impact of claims."

Haennicke said Broadspire has the results to back up that reputation. A recent study completed by Broadspire's medical department demonstrated that its comprehensive claim and medical management programs outperformed industry benchmarks for short-term durations in 86 percent of diagnostic categories.

"That performance resulted in significant savings for our customers," Haennicke said. "It accounted for a total of $61 million in 2004."

"We were impressed with Broadspire's claims management capabilities," said Dan Lebish, president of Highmark Life & Casualty. "Coupled with the financial strength HLC has as a wholly-owned subsidiary of Highmark Inc., we see this as a win-win for our customers."

Lebish said the Broadspire-Highmark Life & Casualty affiliation is marketed to employers with more than 2,500 insured lives.

About Highmark Life & Casualty

Headquartered in Pittsburgh , Pennsylvania , Highmark Life & Casualty Group (HLC) companies ( www.highmarklife.com ) are licensed in all 50 states and offer ancillary employee benefit coverages and services. The Group's product portfolio includes: Employer Stop Loss, Group Life Insurance and Disability coverage (occupational and Non-Occupations). All HLC insurance companies hold A- (Excellent) from A.M. Best Company, one of the country's oldest and most respected rating agencies.

About Broadspire

Broadspire ( www.choosebroadspire.com ), a Platinum Equity company, offers the broadest array of absence management services in the industry. Those services include risk and safety consulting; workers' compensation, auto liability, general liability and short- and long-term disability claim management services; medical and field case management services; Family Medical Leave Act administration; and total disability management programs. Broadspire, based in Plantation , Fla. , with 3,400 employees throughout the United States , creates customized solutions designed to increase employee productivity and contain costs.

About Platinum Equity

Platinum Equity ( www.platinumequity.com ) is a global M&A&O® firm specialized in the merger, acquisition and operation of mission-critical services and solutions companies. Since its founding in 1995, Platinum Equity has acquired more than 50 businesses and built a portfolio of companies with nearly 40,000 employees and more than 600,000 customer sites. With revenue approaching $8 billion, Platinum Equity in 2004 was named the 32nd largest private company in the United States by Forbes magazine.

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Contact:

Kathy Bradley
Broadspire
(954) 693-1135
kbradley@choosebroadspire.com