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March 17, 2016

Assurant Specialty Property Partners with Carma
Providing insurance coverage for car renters, commuters

ATLANTA, March 17, 2016 -- Assurant Specialty Property, a leading provider of risk management services and a business segment of Assurant, Inc., has teamed up with car mobility startup Carma to provide insurance coverage for its carpooling and car-sharing programs in the San Francisco Bay Area.

Carma’s mobile apps are designed to help users find nearby short-term car reservations or commuters to share ride costs with. Insurance coverage includes liability, medical and vehicle damage.

“This is another way to bring our risk-management expertise to an innovative mobility venture,” said Brian Tribble, senior vice president, Assurant Specialty Property. “We help Carma provide a simple solution by streamlining the customer experience – users don’t even have to think about insurance.”

Carma is different from other ride-sharing companies. With more than 15,000 users, Carma is on a mission to get fewer cars on the road. The company focuses on reducing rush hour traffic by pairing people with similar commute routes, and has a fleet of over 400 fuel efficient vehicles.

Passengers simply reimburse drivers for gas and maintenance through Carma’s commuter app. In addition to cutting the cost of commuting, riders can also cut commute time by using the carpool lane. Under this new partnership with Assurant Specialty Property, the Carma experience is seamless for drivers in that their current car insurance coverage is not affected.
“Bay Area traffic can be gruesome. Our carsharing and commuter apps are both solutions Carma users rely on daily to circumvent traffic and congestion,” said Lawrence Mulligan, CEO, Carma. “It was a natural and immediate fit to partner with Assurant to safeguard our tens of thousands of drivers and riders who are helping to shape the future of transportation.”

About Assurant
Assurant, Inc. (NYSE:AIZ) is a global provider of risk management solutions, protecting where consumers live and the goods they buy. A Fortune 500 company, Assurant focuses on the housing and lifestyle markets, and is among the market leaders in mobile device protection; vehicle protection; pre-funded funeral insurance; renters insurance; lender-placed homeowners insurance; and mortgage valuation and field services. With approximately $30 billion in assets and $8 billion in annual revenue, Assurant is located in 15 countries, while its Assurant Foundation works to support and improve communities. Learn more at assurant.com or on Twitter @AssurantNews.

About Carma
Carma is pioneering the Ownerless Car movement to transform wasted parking lot hours into dynamic mobility services that respond to people’s different transportation needs throughout the day. The same car that takes you and your neighbors to work should move your colleague to her off-site meeting and take your kids to the beach over the weekend. With our first 400 cars, our customers are already living and driving the future of transportation. For more information, visit www.gocarma.com or follow us on Twitter at @teamcarma.com.

Contacts

Media:
Assurant Specialty Property
Robert Byrd, 770-763-2319
Senior Director, Communications
robert.byrd@assurant.com
or
Carma
Stephanie Yang, 310-779-2114
Communications
press@car.ma
or
Rena Ramirez, 415-513-5883
Communications
press@car.ma