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TORONTO -- RS GROUP OF COMPANIES, INC. (formerly RENT SHIELD CORP.) (OTCBB:RSGC), a provider of pass-through specialty insurance and reinsurance products, and risk management solutions announced today that it has signed a formal agreement with Aon Risk Services, a division of Aon Corporation (NYSE:AOC), one of the world`s leading insurance intermediaries, to support the RentShield(TM) Program in North America.
Earlier this year, Aon and RSGC signed a letter of intent to establish a formal partnership to co-manage the insurance component of the RentShield(TM) Program in the North American residential rental market. Aon will co-broker this innovative insurance program and actively support the marketing of RentShield(TM) to residential property owners and managers in the United States.
"Partnerships with recognized industry players like Aon are a significant element of our business plan," said John Hamilton, CEO of RS Group of Companies, Inc. "By utilizing sales channels already in place, our company will seek to apply its resources to strategically expand its presence in the residential rental industry and experience higher returns."
Chris McEvoy, Vice President with Aon Risk Services, said, "As the industry leader in providing insurance and risk management services for the residential rental market, we are very excited about the RentShield(TM) approach, which offers landlords an innovative system for the integrated management of tenant screening and insuring the risk of tenant default. We look forward to supporting RS Group as they introduce their program to the US rental housing market."
Aon Corporation (www.aon.com) is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. The company employs approximately 51,000 professionals in its 600 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.
RS Group of Companies` core product, the RentShield(TM) Residential Rental Guarantee Program, (www.rentshield.com):
- Guarantees, without question, to automatically pay the landlord up to six months of rental income in the event of tenant default within 30 days of the due date.
- Pays the landlord up to $10,000 for willful damage by a tenant.
- Eliminates the landlord`s legal, eviction, and administrative collection expenses.
- Pre-qualifies a prospective tenant through background and credit verification within 48 hours of their application.
- Eliminates the need for landlords requiring up-front payment of a security deposit and last month`s rent.
- Provides property owners the online tools that help administer residential rental properties and access other RSGC products and services.
- Provides landlords and tenants online access to listings of vacant properties.
About RS Group of Companies, Inc.
RS Group of Companies, Inc. (www.rsgc.com) has developed and is implementing a strategy to design, structure and sell a broad series of pass-through risk specialty insurance and reinsurance platforms throughout North America. In November 2003, through its wholly owned subsidiaries, the Company introduced its core pass-through risk solution, RentShield(TM) (www.rentshield.com), a Residential Rental Guarantee Program being offered to North America`s $300 billion residential real estate rental market. It is estimated that there are over 38 million rental units in the United States and Canada. Rental Guarantee was first developed in Finland to provide surety to residential property developers and is being used as an extremely effective marketing tool in the United Kingdom for the buy-to-let market. It protects investments in the rental units by receiving a guaranteed income on a certain timeline.
Forward-Looking Statement
Statements included in this press release which are not historical in nature, are intended to be, and are hereby identified as "Forward Looking Statements" for purposes of safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended. Forward Looking Statements may be identified by words including "anticipate", "await", "envision", "foresee", "aim at", "believe", "intends", "estimates" including without limitation, those relating to the Company`s future business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the Forward Looking Statements. Readers are directed to the Company`s filings with the U.S. Securities and Exchange Commission for additional information and a presentation of the risks and uncertainties that may affect the Company`s business and results of operations.
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