Arch Insurance Group Introduces ``Arch Property Maximizer Policy''

NEW YORK--(BUSINESS WIRE)--Arch Insurance Group, a member of Arch Capital Group Ltd., announces the release of a new property insurance product, the Arch Property Maximizer Policy^SM, which will be underwritten by Arch’s Global Property division. The Arch Maximizer Policy provides supplemental property insurance payouts based on a fixed percentage of an insured’s loss paid under the insured’s original property insurance policy.

“This policy pays out an additional percentage of the loss paid by the insured’s property policy—providing money that can be flexibly applied by the insured to mitigate collateral damages and other financial losses that are not fully satisfied by the original property claim payment.”

“The Arch Property Maximizer Policy is a powerful product that fills an important void for many businesses, since traditional insurance policies fail to pay out for the total economic consequence of an insured’s loss,” said Michael L. Kmetz, Senior Vice President, Global Property at Arch Insurance Group. “This policy pays out an additional percentage of the loss paid by the insured’s property policy—providing money that can be flexibly applied by the insured to mitigate collateral damages and other financial losses that are not fully satisfied by the original property claim payment.”

The Arch Maximizer Policy will be distributed through select retail brokers and may be written on a ground-up quota share or excess basis with capacity up to twenty percent (20%) or $50,000,000 per occurrence and annual aggregate. Current Arch participation on the original property policy is not required to access this product. Coverage under the Arch Maximizer Policy will be offered on the same basis as the insured’s original property insurance policy. All risks including, earthquake, flood, windstorm, boiler and machinery, and terrorism, may be included under this product.

Examples of how insureds can apply the proceeds of the Arch Maximizer Policy include:

• To cover portions of a loss where recovery was limited or capped by the insured’s property policy sub-limits.
• To lower the impact of the insured’s property policy deductible on individual operating divisions within the insured’s operation.
• To replace damaged equipment with more modern, efficient equipment whose value exceeds the replacement cost provisions of the insured’s property policy.

Brokers or clients who would like to receive further information on the Arch Maximizer Policy should contact Michael Kmetz at 646-563-6452 or [e-mail], Peter Sprague at 646-563-6457 or [e-mail], or your local Arch Global Property regional underwriting office.

Arch Insurance Group Inc. is a member of Arch Capital Group Ltd., a Bermuda-based company that provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries. For more information, visit www.archinsurance.com.

Insurance coverage is underwritten by one or more member companies of Arch Insurance Group in North America, which consists of Arch Insurance Company (a MO corporation, NAIC # 11150), Arch Specialty Insurance Company (a NE corporation, NAIC #21199) and Arch Excess & Surplus Insurance Company (a NE corporation, NAIC # 10946). Executive offices are located at One Liberty Plaza in New York, New York 10006. Not all insurance coverages or products are available in all jurisdictions. Coverage is subject to actual policy language. This information is solely intended for use by licensed insurance producers.