Ind. Baldwin & Lyons Announce Officer and Director Changes

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Baldwin & Lyons, Inc. today announced that James W. Good, executive vice president of Baldwin and Lyons, Inc. and president of its subsidiary insurance company, Protective Insurance Co., has announced his retirement from the company effective May, 2007, after 42 years of service.

Following his retirement, Good will remain with the company in a consulting capacity. Good, a director of Baldwin & Lyons, Inc., will not stand for re-election following the May expiration of his present term.

Joseph J. DeVito has been elected to the position of president and chief operating officer of Baldwin and Lyons, Inc. by the Board of Directors at their meeting on Feb. 6, 2007. DeVito has been employed by Baldwin and Lyons, Inc. in various capacities since 1981 and has been a director of the company since 1997. He most recently served as executive vice president of Baldwin and Lyons, Inc. and president of its subsidiary company, Sagamore Insurance Co. Gary W. Miller will remain CEO of Baldwin & Lyons, Inc. and chairman of the Board of Directors.

Steven A. Shapiro was nominated by the Board of Directors for shareholder election in May, 2007 to fill the vacant seat on the company’s Board of Directors caused by Good’s decision to not stand for re-election. Shapiro, 42, is a professional money manager with the firm of SF Investments in Highland Park, Il. Shapiro is also a member of Millennium Asset Advisers, the general partner in a series of investment limited partnerships, including the New Vernon Insurance Fund, formed in 1999 to focus on investments in the property & casualty industry. Since 2004, Mr. Shapiro has served on the Board of Directors of First Mercury Financial Corporation, a publicly traded insurance company, where he serves as the chair of the Compensation Committee. From 1989 to 1991, Shapiro was employed at Arthur Andersen & Co. as a consultant.

The other 12 incumbent directors have been re-nominated.

Baldwin & Lyons, Inc., based in Indianapolis, Ind., is a specialty property-casualty insurer providing liability coverage for large and medium-sized trucking fleets.

Baldwin & Lyons, Inc.

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