BURBANK, Calif., April 18, 2011 /PRNewswire/ -- BPG Home Warranty Company ("BPG") has executed definitive agreements to provide claims management and other services for HISCO Home Warranty Company ("HISCO"). In addition BPG plans to merge the two companies later this summer pending regulatory approval.
BPG is a subsidiary of Buyers Protection Group, LLC, which since 1987 has been providing home warranties and home inspections to consumers involved in real estate transactions. BPG currently operates in 14 states including the top 25 housing markets. HISCO was the first company to be granted a home protection license by the California Department of Insurance in 1973, at the inception of the home warranty industry.
"We've been working with the management team at HISCO for a number of months on ways to leverage the operational and sales strengths of both companies," said BPG President and CEO, Revell Fraser. "HISCO has achieved impressive market share gains over the last couple of years which is quite an achievement in the competitive California home warranty market."
"The more we worked together, the more evident it became that the operating philosophies and growth strategies of the two companies were aligned," said Ed Adams, HISCO's President. "BPG's financial strength, operational infrastructure, and product innovation will enable us to expand our HISCO Home Warranty offering more rapidly without sacrificing our commitment to our customers."
When completed, BPG will operate a dual brand strategy offering both BPG and HISCO products. Mr. Adams, along with his existing sales team, will continue to be responsible for the HISCO brand, service, and growth initiatives. In addition, HISCO will expand its marketing partnership with San Diego-based CRES Insurance Services, LLC, ("CRES") whereby CRES will maintain a vested interest in HISCO's success.
About Buyers Protection Group, LLC
BPG provides critical consumer-centric services to help real estate professionals, home buyers, and home sellers in their real estate transactions. The Company manages a network of employees, technology, and technicians to deliver home warranties, home inspections, commercial and multi-family inspections, reserve studies, property disclosure reports, radon testing and monitoring, and pest inspections. The Company maintains dual headquarters in Alpharetta, Georgia and Burbank, California. For additional information visit http://www.bpgwi.com.
About HISCO Home Warranty
HISCO provides home warranty contracts and Natural Hazard Disclosure reports throughout California. The Company issues and administers five different home protection contracts including a co-branded warranty for CRES Insurance Services which provides additional benefits to both the home seller and CRES clients. For additional information visit http://www.hiscohw.com.
About CRES Insurance Services, LLC
CRES Insurance Services LLC is managing general agent that focuses on small and middle market businesses. It is known for its professional liability programs for real estate and mortgage professionals. It also provides workers' compensation, small- to mid-size restaurant coverage, auto repair and smog shop programs, nursing homes and privatized military housing protection. The Company is headquartered in San Diego, California. For additional information visit http://www.cresinsurance.com.
SOURCE Buyers Protection Group