SCHAUMBURG, Ill., March 30 /PRNewswire/ -- Insurance Auto Auctions, Inc.
(Nasdaq: IAAI), a leading provider of automotive salvage and claims processing
services in the United States, announced it has elected John K. Wilcox to the
company's Board of Directors.
Allstate Insurance Company designated Wilcox, a retired group vice
president of Allstate, as its representative on the Board pursuant to
Allstate's 1993 stockholder agreement with the company. Allstate currently
owns approximately 14 percent of the company's common stock.
"We are extremely fortunate and pleased to have an individual with John's
experience and skills join our Board, and we know he will make a significant
contribution and assist us with our business development at Allstate and other
major insurance customers," said James P. Alampi, president and chief
executive officer.
Founded in 1982, Insurance Auto Auctions, Inc. is a leading provider of
automotive and specialty salvage services in the United States, providing
insurance companies with cost-effective, turnkey solutions to process and sell
total-loss and recovered-theft vehicles, a $3 billion per year industry.
The company has 48 auction sites across the United States.
Web site: http://www.iaai.com
CONTACT:
Linda C. Larrabee, Sr. VP and CFO of
Insurance Auto Auctions, 847-839-4132; or Jim Berger, General
Inquiries, 312-640-6689, or Janine Warell, Analyst Inquiries,
312-640-6775, or Laura Kuhlmann-Doerer, Media, 312-640-6727, all
of The Financial Relations Board
NOTE TO EDITORS: For additional information regarding Insurance
Auto Auctions free of charge via fax, dial 800-PRO-INFO and use
the company's stock symbol, "IAAI."
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