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TORONTO -- RS GROUP OF COMPANIES, INC. (formerly RENT SHIELD CORP.) (OTCBB:RSGC), a provider of pass-through risk specialty insurance and reinsurance products, announced today that it has brought Patrick Driscoll on board as Division President for RSGC`s flagship offering, RentShield(TM).
Mr. Driscoll comes to RentShield(TM) as an experienced professional who has tripled sales and profits at two Fortune 500 insurance companies, specializing in personal lines of business. Mr. Driscoll has over 25 years of experience in the insurance industry having worked at CNA, Zurich, Balboa Insurance Group (a wholly owned subsidiary of Countrywide Financial Corporation). Mr. Driscoll has extensive experience in all facets of the insurance industry and has held various positions from CFO to Senior Vice President of Sales and National Director. Mr. Driscoll holds the CPA and CPCU designations.
As RentShield(TM)`s Division President, Mr. Driscoll`s key responsibility will be to direct and drive sales for the RentShield(TM) program. Mr. Driscoll will also be working directly with Aon and it`s brokers to bring the RentShield(TM) program to the North American market. The program guarantees 100% hassle-free payment of defaulted rent for up to 6 months on any 12-month term and damage protection. The comprehensive financing tool ensures landlords their return on investment and has numerous additional benefits.
Commenting on the appointment, John Hamilton, CEO of RS Group of Companies, Inc stated, "Patrick Driscoll`s proven record in the past makes him an ideal candidate for the position. His ability to successfully lead and increase returns is impressive; and, I believe Mr. Driscoll is a valuable addition to the RentShield(TM) division."
RS Group of Companies` core product, the RentShieldTM Residential Rental Guarantee Program, (http://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. (http://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) (http://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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