CROW FRIEDMAN GROUP EXPANDS INTO GEORGIA
AS MAJOR LIABILITY INSURANCE PROVIDER IN THE MID-SOUTH

Memphis, Tenn. (August 2009) - Memphis, Tenn.- based Crow Friedman Group, a full service agency specializing in professional liability insurance to architects and engineers in Tennessee and Alabama, recently expanded its operations into Georgia through the partial acquisition of Jim Anderson and Company, Inc., a full service general insurance agency in Lawrenceville, Ga., located 32 miles northeast of Atlanta.

Crow Friedman Group purchased Anderson’s entire book of professional liability business, including a specialty medical malpractice insurance line, which nearly doubles its agency, making Crow Friedman Group a major provider in the Mid-South, said Chief Executive Officer John D. Crow of Memphis.

“With this acquisition, Crow Friedman Group is now elevated among the ranks of the largest professional liability specialists in the Mid-South,” said Crow.

Crow Friedman Group President Don Friedman of Nashville, left, and Chief Executive Officer John Crow of Memphis, right, stand with James S. Kennedy, center, owner of Jim Anderson and Company, Inc. of Lawrenceville, Ga., whose book of professional liability insurance business was purchased by Crow Friedman Group. The acquisition elevates Crow Friedman among the ranks of the largest professional liability specialists in the Mid-South.

The agency now serves over 1,500 business concerns in Alabama, Georgia and Tennessee, with four offices located in Nashville, Tenn., Birmingham, Ala., Lawrenceville, Ga., and its headquarters in Memphis, Tenn. Its sales force and administrative staff have grown to 19 members.

“Our company is experiencing the trickle down effects of this recession through our clients’ construction projects being put on hold,” says President Donald A. Friedman of Nashville. “However, our decision to move forward with this acquisition was a strategic one that will position our agency for growth in the Georgia region when the market turns around.”

Crow Friedman Group was founded in 1996 by Crow and Friedman who wanted to create an insurance agency that served the unique needs of professional design firms in Tennessee by offering customized design professional insurance solutions, including risk management seminars and contract review services. Crow Friedman Group expanded its operations into Alabama in 2006.

The sales transaction was between Crow Friedman Group of Georgia, Inc. and James S. Kennedy, owner of Jim Anderson and Company, Inc. The deal closed in July 2009 in Lawrenceville, Ga. for an undisclosed amount.

Independent Bank of Memphis, Tenn. financed a portion of the deal, with Kennedy subsidizing the remainder of the loan.

“In this down economy, you’d expect it to be difficult to secure a business loan,” said Friedman. “But our lender said that our company’s solid business management team, strong business plan and track record were what impressed them to support our expansion plans.”

Buying a piece of Jim Anderson and Company is not new to Crow Friedman Group. Crow Friedman purchased Anderson’s Alabama book of business in 2005 with the owners’ friendships dating back 35 years.

“When Jim Kennedy approached us to purchase his business, we saw this as an opportunity to not only grow and expand into another state, but also to add and build upon the successes of their experienced producers, Steve Brown, Lee Edmond and Cherie Tolbert,” said Crow.

Jim Anderson and Company is a 63-year-old insurance company, founded in 1946 by Jim Anderson, a long-time resident of DeKalb County, Ga. His firm insured many prestigious Atlanta companies and projects, including the DeKalb library systems, DeKalb Federal, and Dekalb General Hospital, along with being invited to quote on the MARTA systems. Today, Jim Anderson and Company is ranked for the seventh year in a row as one of the 2009 Best Practices Agencies in the country, as reported by Reagan Consulting and the Independent Insurance Agents & Brokers of America.

Jim’s son, Bill Anderson, a country western recording artist and award winning songwriter of such famed songs as “City Lights,” wanted to go into the restaurant business. So, his father sold Jim Anderson Insurance in 1978 in order to finance his son’s business venture of franchising a restaurant called “PoFolks” that featured home style cooking. Jim Anderson and Company was then sold to four insurance producers – DeVon Donaldson, Don Roper, Max Clark and James S. Kennedy. Over the years, the partners left the business, but James S. Kennedy remained as the sole owner in 2002.

Kennedy also recently sold the remaining assets of Jim Anderson and Company’s property and casualty business to Ricky Chastain, with Kennedy agreeing to stay on as a consultant where he will focus on servicing his current clients he has written over the years.

Crow Friedman Group is a recognized professional liability insurance specialist in the states of Tennessee, Alabama and Georgia, providing risk management and loss prevention services to architects, engineers, certified public accountants, interior designers, financial planners as well as those professionals and consultants in the health care, real estate and construction industries. It is the exclusive insurance representative for XL Design Professional in Tennessee, Alabama and Georgia, along with serving as the primary distribution resource for several other insurance lines.

For more information on Crow Friedman Group, or to learn more about professional liability insurance, call toll free 1-800/595-6526, or visit its web site at www.crowfriedman.com.