Allied World Launches Executive ForceField
Published on Wednesday, 09 May 2012 11:00 Written by TradersHuddle Staff
ZUG, Switzerland, May 9, 2012 /PRNewswire/ -- Allied World Assurance Company Holdings, AG (NYSE: AWH) announced today that Allied World Bermuda has launched Executive ForceField, a new directors and officers liability policy. Executive ForceField provides broad Side A coverage for non-indemnified loss, and is available on either an excess or primary basis.
Policy highlights for Executive ForceField include: reinstated limit of liability, broad definition of "DIC Event," broad definition of "Loss," advancement of defense costs and pre-claim inquiry costs on a current basis, favorable notice of claim provision and worldwide coverage territory. Limits of up to $25million are available and this policy can be deployed at any attachment point above a traditional D&O program or on a primary basis.
Ed Moresco, Senior Vice President, Bermuda and International Professional Lines Product Line Manager commented, "Our new Executive ForceField policy incorporates many innovative enhancements to the usual Side A coverage, creating a leading force in the protection of directors and officers. We saw a growing need for more precise coverage in this space over the past several years and a void in the current market for such a targeted product. Our team continues to look for progressive solutions to meet the growing needs of our insureds and Executive ForceField provides the enhanced protection that our clients require."
About Allied World Assurance Company
Allied World Assurance Company Holdings, AG, through its subsidiaries, is a global provider of innovative property, casualty and specialty insurance and reinsurance solutions, offering superior client service through a global network of offices and branches. All of Allied World's rated insurance and reinsurance subsidiaries are rated A by A.M. Best Company, A by Standard & Poor's, and A2 by Moody's, and our Lloyd's Syndicate 2232 is rated A+ by Standard & Poor's and Fitch. Please visit www.awac.com for further information on Allied World.
Cautionary Statement Regarding Forward-Looking Statements
Any forward-looking statements made in this press release reflect our current views with respect to future events and financial performance and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in these statements. For example, our forward-looking statements could be affected by pricing and policy term trends; increased competition; the impact of acts of terrorism and acts of war; greater frequency or severity of unpredictable catastrophic events; negative rating agency actions; the adequacy of our loss reserves; the company or its subsidiaries becoming subject to significant income taxes in the United States or elsewhere; changes in regulations or tax laws; changes in the availability, cost or quality of reinsurance or retrocessional coverage; adverse general economic conditions; and judicial, legislative, political and other governmental developments, as well as management's response to these factors, and other factors identified in our filings with the U.S. Securities and Exchange Commission. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. We are under no obligation (and expressly disclaim any such obligation) to update or revise any forward-looking statement that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE Allied World Assurance Company Holdings, AG
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